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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 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.
MaxCyte reported a remarkable 78% increase in total revenue for Q1 2022, reaching $11.6 million, driven by a 48% growth in core revenues. Revenue from cell therapy customers rose by 57%, while drug discovery saw a 23% increase. Additionally, the company has raised its revenue guidance for 2022, expecting core business revenue growth of at least 25% and approximately $4 million in SPL Program-related revenue. Operating expenses increased, but the net loss reduced to $4.1 million from $7.1 million year-over-year.
MaxCyte, a prominent commercial cell-engineering company, announced its participation in two upcoming investor conferences. The events include a presentation at the Bank of America 2022 Healthcare Conference on May 11 at 4:40 p.m. PT and a fireside chat at the William Blair 42nd Annual Growth Stock Conference on June 8 at 9:20 a.m. CT. Live and archived webcasts will be accessible on MaxCyte's investor relations website.
The company specializes in advanced cell-based research and has developed innovative platforms, such as the Flow Electroporation technology, to support cell therapy markets.
MaxCyte, Inc. (NASDAQ: MXCT) announced it will release its Q1 2022 financial results on May 9, 2022, after U.S. market close. A conference call with management is scheduled for 4:30 PM ET to discuss these results. The company specializes in cell-engineering technologies, including its proprietary Flow Electroporation® and ExPERT™ platforms, designed for the cell therapy market. This announcement sets the stage for financial insights and potential updates on growth in cell-based therapies.
MaxCyte, a leading cell-engineering company, announced on April 11, 2022, that it granted stock options for a total of 554,000 shares to newly hired employees, including 500,000 shares to Cenk Sumen, the new Chief Scientific Officer. The options, issued under the 2021 Inducement Plan, have a ten-year term with an exercise price of $5.67 per share, matching the stock's closing price on the grant date. Vested shares will occur over four years, contingent upon continued employment.
MaxCyte, Inc. (NASDAQ: MXCT) announced the resignation of Amanda Murphy as Chief Financial Officer effective April 15, 2022. Ron Holtz, current Senior Vice President and Chief Accounting Officer, will serve as Interim CFO. MaxCyte expects first-quarter revenue to be at least $11.0 million, a significant increase from $6.5 million year-over-year. Additionally, core business revenue is anticipated to reach $9.0 million. Murphy will assist during the transition, while Sean Menarguez is promoted to Director, Investor Relations.
MaxCyte reported fourth quarter and full year 2021 results, showcasing record revenues of $10.2 million for Q4 and $33.9 million for the year, reflecting growth of 19% and 30%, respectively. Core business revenues surged by 37%, driven by a 43% increase from cell therapy customers. The company anticipates 2022 revenue growth of 22% to 25% over 2021, with SPL Program-related revenue projected at $4 million. Operating expenses rose to $48.4 million, leading to a net loss of $19.1 million for 2021. Cash reserves stood at $255 million as of year-end.
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