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Scorpius Holdings, Inc. - SCPX STOCK NEWS

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Scorpius Holdings, Inc. (symbol: SCPX) is a leading integrated contract development and manufacturing organization (CDMO) specializing in biologic and cell therapy programs. The company offers a comprehensive suite of services, including analytical testing, process development, and manufacturing, to pharmaceutical and biotech companies from its state-of-the-art facilities.

In recent developments, Scorpius has reaffirmed its commitment to regaining compliance with NYSE American continued listing standards. The company has demonstrated significant financial growth, reporting $4.8 million in revenue from continuing operations in the fourth quarter of 2023, a staggering 570% increase from the third quarter, and a 226% increase compared to revenue for the first nine months of the year. To date, Scorpius has secured over $20 million in contract bookings, positioning itself for substantial growth in 2024 and beyond.

The large molecule drug substance CDMO market is projected to grow significantly, from $10 billion in 2023 to $21 billion by 2030. Scorpius is poised to capitalize on this growth, with its scalable business model and increasing demand for its services. The company expects to become cash flow positive by early 2025, having reduced operating expenses and completed a major facility expansion. Its 60,000+ sq. ft. campus provides ample capacity for growth with minimal additional capital expenditure.

Moreover, Scorpius has transitioned its environmental monitoring responsibilities to internal teams, enhancing operational efficiency. The company’s expanded warehouse facilities, now totaling 22,000 square feet, are equipped with specialized storage for biopharmaceutical materials, further solidifying its market position.

Scorpius is dedicated to maintaining high-quality standards, supported by its robust stability program that ensures optimal storage and quality control testing. This expansion not only meets industry standards but also introduces new revenue streams, demonstrating Scorpius' commitment to excellence and client satisfaction.

Scorpius remains actively engaged in industry advocacy, urging Congress to pass the BIOSECURE Act. The company’s ongoing efforts to streamline operations and reduce costs have resulted in a 34% reduction in operating expenses and a 64% reduction in net loss.

For more information on Scorpius Holdings, Inc., including the latest news and updates, visit StockTitan.

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Scorpius Holdings (NYSE American: SCPX) has launched Scorpius Ventures, a new business unit offering a hybrid fee-for-service and equity-based model to support emerging biotech companies with U.S. onshoring initiatives. The venture aligns with the BIOSECURE Act, aiming to strengthen U.S. biosecurity and manufacturing independence. Through this model, biotech partners can access Scorpius' cGMP manufacturing services and CMC expertise while sharing growth potential through equity arrangements. The initiative focuses on reducing financial barriers for partners while promoting domestic production and supply chain stability.

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Scorpius Holdings (NYSE American: SCPX) reported Q3 2024 financial results, showing revenue growth of 142% year-over-year to $5.2 million for the nine months ended September 30, 2024. The company achieved a 23.5% reduction in operating expenses and implemented cost savings initiatives expected to exceed $2 million annually. Q3 revenue was $0.9 million, up from $0.7 million in Q3 2023. The company reported a net loss of $10.1 million or ($1.43) per share. Cash position stood at $4.8 million as of September 30, 2024, declining to $0.8 million by November 14, 2024. The company's business development pipeline opportunities exceed $100 million.

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Scorpius Holdings (NYSE American: SCPX) has announced a partnership with Celltheon to provide cell line development services using Celltheon's proprietary GOLDILOCKS™ transposase-based platform. The collaboration enables clients to work with Scorpius' program management team while preparing to transfer research cell banks to their San Antonio facilities for biomanufacturing. Celltheon will also offer additional services including antibody discovery and comparability studies. The partnership has already secured its first client who plans to scale up to GMP manufacturing with Scorpius.

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Scorpius Holdings (NYSE American: SCPX) has announced strategic cost-saving measures expected to generate over $2 million in annual savings. The initiatives include divesting non-core assets and implementing operational efficiency programs. The company aims to strengthen its financial position and focus on high-margin growth areas within its sales pipeline. Management expressed optimism about the growing sales pipeline and commitment to achieving profitability through disciplined cost management.

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Scorpius Holdings, Inc (NYSE American: SCPX) has announced a strategic partnership with a U.S.-based biotech company. The agreement involves the biotech company working with Scorpius' program management team and plans to transfer a research cell bank (RCB) to Scorpius' facilities in San Antonio, TX for future biomanufacturing activities.

CEO Jeff Wolf emphasized that this partnership demonstrates Scorpius' ability to support biotech companies throughout their development journey. He noted a growing trend of biotech companies seeking U.S.-based biomanufacturing partners, highlighting Scorpius' capabilities in early-stage development, preclinical manufacturing, and cGMP clinical manufacturing for both mammalian and microbial programs.

Wolf also highlighted Scorpius' flexibility and responsiveness as key advantages, addressing the critical need for secure, U.S.-based development and manufacturing support for biologics research.

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Scorpius Holdings (NYSE American: SCPX), an integrated contract development and manufacturing organization (CDMO), has been selected to join the Medical CBRN Defense Consortium (MCDC). The MCDC, established in 2015 under the U.S. Department of Defense, focuses on advancing medical countermeasures against chemical, biological, radiological, and nuclear (CBRN) threats.

As a member, Scorpius will contribute its proprietary expertise to accelerate innovations addressing CBRN threats. This membership allows Scorpius to engage with government stakeholders, collaborate with other companies and academic institutions, and pursue funding opportunities aligned with the DoD's medical CBRN defense priorities.

Jeff Wolf, CEO of Scorpius, stated that this selection reinforces the company's commitment to developing therapies protecting both military personnel and civilians. The membership represents a significant milestone in Scorpius' efforts to contribute to U.S. biosecurity and national defense.

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Scorpius Holdings (NYSE American: SCPX) has signed a contract to provide bioanalytical services for a publicly traded clinical-stage immuno-oncology company. This collaboration opens the door for potential expansion into additional analytical work and future GMP manufacturing. The contract validates Scorpius' expertise in delivering critical bioanalytical and process development services, solidifying its position as a trusted partner in the biologics manufacturing space.

CEO Jeff Wolf highlighted the contract as a clear validation of Scorpius' comprehensive capabilities, including advanced bioanalytical services. The company's state-of-the-art facilities enable it to offer an integrated solution meeting the diverse needs of biologics manufacturers. Scorpius is excited about the potential to further develop this partnership and provide ongoing support to advance the client's clinical programs.

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Scorpius Holdings (NYSE American: SCPX) commends the U.S. House of Representatives for passing the BIOSECURE Act with strong bipartisan support (306-81 vote). This legislation aims to secure America's pharmaceutical supply chain, strengthen national biosecurity, and improve preparedness for public health emergencies. The Act restricts U.S. Government-funded drug developers from contracting with select China-based biomanufacturing companies, potentially increasing demand for domestic production capabilities.

Scorpius CEO Jeff Wolf anticipates significant opportunities to expand the company's project pipeline as a result of this legislation. As a U.S.-based integrated contract development and manufacturing organization (CDMO), Scorpius is positioned to support biopharmaceutical companies navigating these changes with its cutting-edge expertise and modern facilities.

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Scorpius Holdings (NYSE American: SCPX) has been selected for the Biomedical Advanced Research and Development Authority's (BARDA) Rapid Response Partnership Vehicle (RRPV). This collaboration aims to accelerate the development of medical countermeasures for public health threats, including pandemic preparedness and emerging infectious diseases. As an RRPV member, Scorpius will work with BARDA and other federal partners to support product and technology development in critical areas such as vaccines and therapeutics.

Scorpius' biomanufacturing capabilities and state-of-the-art facilities position it to meet the needs of government agencies responding to biological threats. The company's manufacturing platform is designed for flexibility, enabling swift responses to emerging health threats. This selection highlights Scorpius' ability to innovate in the rapidly evolving landscape of biomanufacturing.

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Scorpius Holdings (NYSE American: SCPX), a contract development and manufacturing organization (CDMO), has released a corporate update highlighting significant progress. The company has expanded its manufacturing capabilities for biologics and cell therapies, resulting in a threefold increase in revenue for the first half of 2024. Scorpius now boasts a sales pipeline exceeding $100 million in weighted opportunities across biopharmaceutical and government sectors.

The company recently raised $14.4 million in gross proceeds to support growth and attract larger customers. Scorpius is transitioning key clients from process development to full-scale manufacturing, aiming to achieve positive cash flow in the near future. Management compensation is being aligned with growth objectives, contingent on meeting sales targets and booking goals.

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FAQ

What is the current stock price of Scorpius Holdings (SCPX)?

The current stock price of Scorpius Holdings (SCPX) is $0.3104 as of December 23, 2024.

What is the market cap of Scorpius Holdings (SCPX)?

The market cap of Scorpius Holdings (SCPX) is approximately 1.4M.

What services does Scorpius Holdings, Inc. offer?

Scorpius Holdings, Inc. offers analytical testing, process development, and manufacturing services for biologic and cell therapy programs.

How has Scorpius Holdings performed financially in recent quarters?

In the fourth quarter of 2023, Scorpius reported $4.8 million in revenue, a 570% increase from the third quarter and 226% increase from the first nine months of the year.

What is the projected market growth for large molecule drug substance CDMO services?

The large molecule drug substance CDMO market is projected to grow from $10 billion in 2023 to $21 billion by 2030.

What steps has Scorpius Holdings taken to improve operational efficiency?

Scorpius has transitioned environmental monitoring responsibilities to internal teams and expanded warehouse facilities to enhance storage and quality control.

What are the future financial expectations for Scorpius Holdings?

Scorpius expects to become cash flow positive by early 2025 and is positioning itself for significant growth in 2024 and beyond.

How has Scorpius Holdings reduced its expenses?

Scorpius has reduced operating expenses by 34% and net loss by 64% through strategic efficiency improvements and cost management.

What is the significance of Scorpius' facility expansion?

The expanded 22,000 sq. ft. facility allows Scorpius to meet growing demand for biomanufacturing services and enhances its storage and quality control capabilities.

What industry standards does Scorpius Holdings adhere to?

Scorpius adheres to high-quality standards for contract manufacturing of microbial biologics and advanced capabilities for clinical scale microbial production.

How does Scorpius Holdings support its clients' needs?

Scorpius offers comprehensive services from process development to drug substance release, ensuring continuity and quality throughout the supply chain.

What recent advocacy efforts has Scorpius Holdings undertaken?

Scorpius has urged Congress to pass the BIOSECURE Act, reflecting its commitment to industry standards and regulatory advocacy.

Scorpius Holdings, Inc.

NYSE:SCPX

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