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MaxCyte, Inc. (NASDAQ: MXCT) is a pioneering commercial cell-engineering company dedicated to advancing cell-based research and next-generation cell therapeutic discovery, development, and commercialization. At the heart of MaxCyte’s offerings is their proprietary Flow Electroporation® platform, which seamlessly facilitates the intricate engineering of a diverse range of cells, making it indispensable for modern cell therapy advancements.
MaxCyte’s core business model revolves around the sale and licensing of their cutting-edge instruments and single-use disposable processing assemblies. The company’s ExPERT™ platform, a next-generation suite of electroporation technology, delivers unparalleled transfection efficiency, scalability, and functionality. This platform is pivotal in supporting the growing cell therapy market, catering to needs from the discovery phase through to full-scale commercialization.
Recent achievements highlight MaxCyte’s significant role in the industry. For instance, Imugene is leveraging MaxCyte’s technology to support its azer-cel CAR T product candidate, potentially a ground-breaking treatment for blood cancer. Meanwhile, Wugen and Be Biopharma also utilize MaxCyte’s platforms to drive forward their innovative cancer therapies and engineered B cell medicines, respectively. These collaborations not only underscore the efficacy and versatility of MaxCyte’s technology but also expand its footprint across various therapeutic areas.
Financially, MaxCyte benefits from a robust revenue model that includes platform licensing fees, annual license fees, and program-related revenue. Their diverse portfolio of partners and extensive clinical and commercial collaborations highlight the trust and reliance placed on MaxCyte's technologies within the biotech industry.
As a company, MaxCyte is unwavering in its commitment to cell engineering excellence. With over two decades of experience, the company has honed its expertise in building best-in-class platforms, perfecting transfection workflows, and pushing the boundaries of current processes to innovate future solutions. Their extensive intellectual property portfolio and comprehensive support services for partners underscore their aim to transform human health through cutting-edge cell engineering.
MaxCyte continues to be at the forefront of cell engineering innovations, partnering with leading biotech firms globally and providing the tools necessary to accelerate the development of life-saving therapies. For more information, visit maxcyte.com and follow MaxCyte on social media platforms like X (formerly Twitter) and LinkedIn.
MaxCyte, a cell-engineering company, has appointed Douglas J. Swirsky as its new Chief Financial Officer effective immediately. With over two decades of experience, Swirsky's previous roles include CFO of AavantiBio and leadership positions at Rexahn Pharmaceuticals and GenVec. The President of MaxCyte expressed enthusiasm about Swirsky’s extensive financial expertise and its potential influence on the company's growth. Concurrently, Ron Holtz, the former CFO, transitions to EVP of Administration after nearly 18 years of service. The company aims to leverage Swirsky's insights to enhance financial operations and shareholder value.
MaxCyte, Inc. (NASDAQ: MXCT) reported a 31% total revenue growth for the full year 2022, reaching $44.3 million. In Q4 2022, total revenue was $12.4 million, up 22% year-over-year. Core business revenues saw 26% growth, driven by a 33% increase in cell therapy revenue. The company anticipates 2023 revenue growth between 21% and 26%, with core growth expected between 20% and 25%. Total cash and equivalents stood at $227.3 million. MaxCyte's partnerships have expanded, with 19 active SPL partnerships and significant potential for pre-commercial milestone payments exceeding $1.55 billion.
MaxCyte has announced the formation of a new Scientific Advisory Board (SAB)
MaxCyte announced preliminary revenue results for Q4 and full year 2022, reporting expected total revenue of approximately $44.3 million, up 31% from 2021. Q4 revenue is projected at $12.4 million, reflecting a 22% increase compared to Q4 2021. The installed base of instruments surpassed 600, compared to over 500 in 2021. MaxCyte's guidance for 2023 indicates total revenue growth of 21% to 26% year-over-year, with approximately $6 million from SPL program-related revenue. The company ended 2022 with 18 SPL partnerships, adding three during the year.
MaxCyte, Inc. (NASDAQ: MXCT) announced it will release its financial results for Q4 and FY 2022 after market close on March 15, 2023. A conference call is scheduled for 4:30 p.m. ET to discuss the results. The company will also participate in investor conferences including the BIO CEO & Investor Conference on February 7, BTIG MedTech on February 14, and the Cowen Healthcare Conference on March 7. MaxCyte focuses on cell-engineering technologies to support the development of cell therapies, leveraging its proprietary Flow Electroporation platform and ExPERT family of products for innovative research in the cell therapy sector.
MaxCyte (Nasdaq: MXCT) has announced a strategic platform license with Catamaran Bio, enabling the latter to use MaxCyte's Flow Electroporation® technology and ExPERT™ platform. This collaboration will enhance Catamaran's TAILWIND® platform for developing CAR-NK cell therapies targeting solid tumors. MaxCyte expects to receive licensing fees and program-related revenue as a result. This agreement marks MaxCyte's 19th strategic platform license and aims to advance innovative cell-based cancer treatments.
MaxCyte has signed a strategic platform license with Curamys for its Flow Electroporation® technology and ExPERT™ platform, enhancing Curamys’ cell fusion technology aimed at treating rare diseases like Duchenne muscular dystrophy and amyotrophic lateral sclerosis.
Under this non-exclusive agreement, MaxCyte will receive licensing fees and program-related revenue. Curamys aims to leverage this technology to further its global reach and improve treatment options for patients with genetic disorders.
MaxCyte reported a 22% year-over-year growth in core business revenue for Q3 2022, reaching $10.6 million, a 5% increase from the prior year. Revenue from cell therapy grew by 27%, while drug discovery revenues rose 4%. The company reaffirmed its 2022 revenue guidance for core business growth at approximately 30%. Total cash and short-term investments stood at $232.9 million as of September 30, 2022. Despite strong revenue growth, operating expenses increased significantly, contributing to a net loss of $6.4 million.
MaxCyte, focused on cell-engineering, announced participation in two upcoming investor conferences. The Stifel Healthcare Conference is scheduled for November 16, 2022, at 3:00 PM ET, followed by the Stephens Annual Investment Conference on November 17, 2022, at 10:00 AM ET. Webcasts of these events will be accessible on the company’s investor relations website. MaxCyte develops technologies for cell-based therapeutics, including its proprietary Flow Electroporation® technology and ExPERT™ platform, aimed at supporting the cell therapy market.
MaxCyte, a leading commercial cell-engineering company, announced it will release its financial results for Q3 2022 after the U.S. market close on November 9, 2022. The company will host a conference call at 4:30 p.m. ET to discuss the results. MaxCyte's proprietary Flow Electroporation platform enables advanced cell-based research and therapeutic development, supporting the rapidly growing cell therapy market. The ExPERT platform is integral to their offerings, which includes various instruments and a comprehensive intellectual property portfolio.
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