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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.
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Scorpius Holdings (NYSE American: SCPX), a contract development and manufacturing organization (CDMO), has announced the engagement of Alliance Global Partners (A.G.P.) to explore strategic alternatives. This initiative is part of the company's strategy to maximize shareholder value and evaluate potential strategic opportunities.
The company, which specializes in biologic program development and manufacturing services at its San Antonio facilities, emphasizes that there is no guarantee this process will result in any transaction or strategic change. Scorpius will not disclose further developments unless the Board of Directors approves a specific course of action or determines additional disclosure is necessary.
Scorpius Holdings (NYSE American: SCPX) has announced a collaboration with KaloCyte to enhance manufacturing processes for ErythroMer™, a dried artificial red blood cell designed for life-threatening blood loss situations. The partnership involves utilizing Scorpius' scientific and technical expertise to improve manufacturing efficiencies, with potential for a commercial-scale manufacturing agreement.
KaloCyte's ErythroMer™ targets a $7B U.S. market and has received $17M in DARPA and NIH grants, plus $5M in investor funding. The company is currently seeking Series A financing for IND-enabling studies and Phase 1 clinical trials. The product is designed as a universal option for all blood types, particularly useful when stored blood is unavailable or unsuitable.
Scorpius, operating from its facilities in San Antonio, TX, provides comprehensive CDMO services including analytical testing, process development, and cGMP clinical manufacturing.
Scorpius Holdings (NYSE American: SCPX) has announced the cancellation of its previously planned 1-for-20 reverse stock split of common stock. The company, which operates as an integrated contract development and manufacturing organization (CDMO), specializes in advancing biologic programs through its facilities in San Antonio, TX.
The company provides analytical testing, process development, and manufacturing services to pharmaceutical and biotech companies. Scorpius emphasizes transparent collaboration and flexible, high-quality biologics biomanufacturing through its purpose-built U.S. facilities and experienced team.
Scorpius Holdings (NYSE American: SCPX) has announced a 1-for-20 reverse stock split of its common stock, effective January 21, 2025. The decision aims to maintain compliance with NYSE American requirements by increasing the stock's selling price. The split was approved at a Special Meeting of Stockholders on January 16, 2025, where shareholders authorized a ratio range of 1-for-5 to 1-for-35.
The company's stock will continue trading under the symbol 'SCPX' but with a new CUSIP number 42237K607. Stockholders' ownership percentages will remain unchanged except for fractional shares, which will be settled in cash based on the average closing price over the ten days before the split's effective date.
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.
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.
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.
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.
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.
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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