Welcome to our dedicated page for MaxCyte news (Ticker: MXCT), a resource for investors and traders seeking the latest updates and insights on MaxCyte stock.
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 has appointed Cenk Sumen, Ph.D., as the new Chief Scientific Officer (CSO), effective March 9, 2022. Dr. Sumen brings a wealth of experience in scientific innovation and technology development, having previously served as CTO at Stemson Therapeutics. MaxCyte is a pioneering cell-engineering company dedicated to advancing cell-based research and therapies with its Flow Electroporation® technology. CEO Doug Doerfler expressed enthusiasm for Dr. Sumen's strategic vision, which aims to enhance MaxCyte’s position in the growing cell therapy market.
MaxCyte, Inc. (NASDAQ: MXCT) will release its fourth quarter and full year 2021 financial results on March 22, 2022, after U.S. market close. A conference call is scheduled for 4:30 p.m. Eastern Time to discuss the results. The company, recognized for its proprietary Flow Electroporation® platform, is focused on advancing cell-based research and the cell therapy market with its ExPERT™ platform. This technology supports various stages of cell therapeutic development and commercialization.
MaxCyte, a leader in cell-engineering technology, announced its participation in several upcoming virtual investor conferences. Key events include the BIO CEO & Investor Conference on February 15, the BTIG MedTech event on February 17 at 3:00 p.m. ET, and the Cowen Annual Healthcare Conference on March 7 at 9:50 a.m. ET. The company will provide live and archived webcasts of these presentations on its investor relations website. MaxCyte's technologies aim to enhance cell-based research and support the growing cell therapy market.
MaxCyte, a commercial cell-engineering company, has granted stock options for 204,500 shares to eight new employees as part of its 2021 Inducement Plan. This move, effective from February 10, 2022, aligns with Nasdaq rules and aims to incentivize talent acquisition. Each option has a ten-year term with an exercise price of $6.54, matching the stock's closing price on the grant date. Vesting occurs over four years, with 25% available after the first year. This initiative underscores MaxCyte's commitment to enhancing its workforce to drive next-generation cell-based medicine advancements.
MaxCyte has signed a strategic platform license with Intima Bioscience, a biotechnology company focused on cell therapies for solid tumors. This agreement grants Intima access to MaxCyte’s Flow Electroporation® technology and ExPERT™ platform, aimed at enhancing the development of its checkpoint cell therapy targeting CISH in gastrointestinal and colon cancers. MaxCyte will receive licensing fees and milestone payments from Intima. This partnership marks MaxCyte's 16th such collaboration, further expanding its technology's application in the cell therapy market.
MaxCyte, Inc. (NASDAQ: MXCT) expects fourth quarter 2021 revenue to exceed $10 million, up 17% from Q4 2020, with full year revenue anticipated above $33.7 million, marking a 28% increase from 2020. The company reports over 500 instruments installed and 15 Strategic Platform Licenses (SPLs), enabling over 95 programs, with 15% in clinical stages. MaxCyte's SPLs could lead to over $1.25 billion in precommercial revenue potential. CEO Doug Doerfler highlighted significant achievements in 2021, including a successful IPO and organic growth in core business.
MaxCyte, a commercial cell-engineering company, announced its participation in several investor conferences. The events include the Consilium Strategic Communications 9th Annual Healthcare Conference on November 15, 2021, Stifel 2021 Virtual Healthcare Conference on November 16, and Stephens Annual Investment Conference on November 29. Each session will feature discussions led by company management. Live and archived webcasts will be available on MaxCyte's investor relations website.
MaxCyte reported a strong third quarter for 2021 with total revenue of $10.1 million, reflecting a 50% increase compared to Q3 2020. Revenue from cell therapy customers rose 38% to $6.2 million, while Strategic Platform License (SPL) revenue reached a record $2.0 million. Operating expenses increased to $11.6 million, primarily due to higher compensation and professional service costs. The company projects at least $33.0 million in revenue for FY 2021, up from earlier guidance of $30 million. Net loss for Q3 was ($2.7) million compared to ($3.1) million in 2020.
MaxCyte, a leader in cell-engineering, announces the appointment of Richard Douglas, PhD, as Chair of the Board, succeeding J. Stark Thompson, PhD, who will remain a consultant. Douglas, a board member since 2018, brings extensive experience from roles at RedSky Partners, Aldeyra Therapeutics, and Novavax. His leadership follows a pivotal period marked by the company's first U.S. public offering. CEO Doug Doerfler praised Douglas for his valuable contributions and the foundation laid by Thompson, emphasizing the company’s strong position in the expanding cell therapy market.
MaxCyte, a leader in cell-engineering, announced that all resolutions at its Annual General Meeting on October 29, 2021, were passed, except for Proposal 2 concerning the 2021 Equity Incentive Plan. The company focuses on advancing cell-based research and next-generation cell therapies through its proprietary Flow Electroporation® platform, which supports the expansive cell therapy market. MaxCyte's ExPERT™ platform includes a range of instruments and software aimed at facilitating the development of innovative cell-based medicines.
FAQ
What is the current stock price of MaxCyte (MXCT)?
What is the market cap of MaxCyte (MXCT)?
What does MaxCyte, Inc. specialize in?
What is the ExPERT™ platform?
How does MaxCyte generate revenue?
What recent partnerships has MaxCyte formed?
What are some key features of MaxCyte’s Flow Electroporation® technology?
Where can I find more information about MaxCyte’s financial performance?
What is the significance of MaxCyte’s partnership with Imugene?
How long has MaxCyte been in the cell engineering industry?
What products are included in the ExPERT™ family?
How does MaxCyte support its partners?
