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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 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.
MaxCyte has signed a strategic platform license agreement with Vertex Pharmaceuticals to use its Flow Electroporation® technology and ExPERT™ platform for the development of exa-cel, a gene-edited therapy for hemoglobinopathies.
This collaboration allows Vertex to obtain clinical and commercial rights, while MaxCyte receives licensing fees and program-related revenue. Exa-cel aims to treat transfusion-dependent beta thalassemia and sickle cell disease, showcasing the effectiveness of MaxCyte's technology utilized in previous clinical developments.
MaxCyte, a leading cell-engineering company, has relocated its headquarters to a new 67,000 square-foot facility in Rockville, Maryland, enhancing its manufacturing capacity and research capabilities. This move reflects the company’s commitment to supporting the growth of cell-based therapies and aligns with Maryland's status as a significant biotech hub. With a focus on innovation in gene editing and immuno-oncology, MaxCyte aims to empower its partners in therapeutic development and commercialization.
MaxCyte, a leader in cell-engineering, announced its participation in the Morgan Stanley 20th Annual Global Healthcare Conference on September 13, 2022, at 4:40 PM ET. The event will provide insights into the company's innovative cell-based research and cell therapeutic advancements. A live and archived webcast will be accessible on the MaxCyte investor relations website.
MaxCyte's Flow Electroporation® platform and ExPERT™ platform are pivotal in advancing cell therapies, enhancing capabilities from discovery through commercialization.
MaxCyte reported a strong second quarter 2022 with total revenue of $9.6 million, up 35% from Q2 2021, bolstered by a 61% increase in cell therapy revenues. Core business revenue growth guidance for 2022 has been raised to approximately 30%. The company incurred a net loss of $8.3 million, up from $4.4 million the previous year, and operating expenses rose to $17.2 million due to increased staffing and marketing costs. As of June 30, 2022, MaxCyte held $240.9 million in cash and equivalents. The SPL program is expected to generate around $4 million in revenue for the year.
MaxCyte, a leader in cell-engineering technology, plans to release its second-quarter 2022 financial results on August 10, 2022, post U.S. market close. Following the release, a conference call will be held at 4:30 p.m. ET to discuss the results. Investors can register for the call online, and a webcast will be available on MaxCyte's investor relations website. The company specializes in Flow Electroporation technology, supporting advancements in cell-based research and therapeutic discovery.
MaxCyte, Inc., (NASDAQ: MXCT) announced a strategic partnership with LG Chem on July 12, 2022, under which LG Chem will leverage MaxCyte's Flow Electroporation® technology and ExPERT™ platform to enhance its T-cell therapy candidates for solid tumors. This licensing agreement grants LG Chem clinical and commercial rights in exchange for licensing fees and revenue sharing. The partnership aims to bolster LG Chem's anti-cancer initiatives, particularly the CAR-T treatment currently in pre-clinical development.
On May 10, 2022, MaxCyte, Inc. (NASDAQ: MXCT) granted stock options for 73,700 shares to six newly hired employees as part of their 2021 Inducement Plan. The options have a ten-year term with an exercise price of $4.81 per share, equal to the stock's closing price on the grant date. These options will vest over four years, with 25% vesting after 12 months, subject to continued employment. MaxCyte focuses on cell-engineering technologies to support cell-based research and therapies, leveraging its proprietary Flow Electroporation platform.
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