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, 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.
MaxCyte has entered into a strategic platform license agreement with Nkarta, allowing Nkarta to utilize MaxCyte's Flow Electroporation® technology and ExPERT™ platform for developing oncology cell therapies. This collaboration aims to enhance the efficacy of allogeneic NK cells in treating cancer. MaxCyte will receive platform licensing fees and milestone payments. The ExPERT™ platform is designed for scalable cell engineering, supporting the growing cell therapy market. This partnership marks MaxCyte's 15th strategic license agreement this year.
MaxCyte, a commercial cell-engineering firm, will announce its Q3 2021 financial results on November 10, 2021, after U.S. market close. The management will host a conference call at 4:30 p.m. ET to discuss results. With 20 years of experience, MaxCyte offers proprietary Flow Electroporation technology for cell engineering, supporting the growing cell therapy market with its ExPERT platform, including various instruments and software protocols. This information is crucial for shareholders and potential investors in gauging financial performance and future growth prospects.
MaxCyte, a cell-engineering company, will be added to the Russell 3000® and Russell 2000® indices effective September 20, 2021. This inclusion enhances the company's visibility among investors and follows its successful Nasdaq IPO in August. The Russell 3000® Index features companies based on market capitalization and style attributes, ensuring that MaxCyte’s membership underscores its strong financial profile. The company specializes in providing technologies for cell-based research and therapeutic development, notably through its proprietary Flow Electroporation® platform.
MaxCyte, Inc. (NASDAQ: MXCT) reported its Q2 2021 financial results, showcasing a 38% revenue increase to $7.1 million year-over-year. Revenue from cell therapy grew 59% to $4.8 million, while drug discovery revenue surged 60% to $1.8 million. Gross profit stood at $6.3 million, reflecting a 89% gross margin. However, the net loss widened to ($4.4) million from ($3.0) million in Q2 2020. Operating expenses rose to $10.7 million, driven by compensation and professional service costs. Despite challenges, the company anticipates total revenue around $30 million for fiscal year 2021.
MaxCyte, a leader in cell-engineering technologies, will release its second-quarter financial results on September 13, 2021, after the U.S. market closes. The company will host a conference call at 4:30 p.m. ET to discuss the results. MaxCyte serves numerous biopharmaceutical companies, including 20 of the top 25 by global revenue, and has granted 14 strategic platform licenses for over 75 clinical programs. The conference call will be accessible via a dedicated phone line and webcast.
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