Welcome to our dedicated page for Scorpius Holdings news (Ticker: SCPX), a resource for investors and traders seeking the latest updates and insights on Scorpius Holdings stock.
Scorpius Holdings Inc (SCPX) is a leading contract development and manufacturing organization (CDMO) accelerating biologic and cell therapy programs through integrated analytical testing, process development, and advanced manufacturing services. This news hub provides investors and industry professionals with essential updates on the company's operational milestones, regulatory developments, and strategic partnerships.
Access real-time updates on Scorpius Holdings' progress in biomanufacturing innovation, including earnings announcements, facility expansions, and collaborations supporting pandemic preparedness initiatives. Our curated news collection enables efficient tracking of critical developments impacting the company's position in the biologics CDMO sector.
Key content categories include clinical manufacturing achievements, quality system enhancements, analytical method validations, and strategic alliances with biotech innovators. All updates are sourced directly from official company communications and verified industry reports.
Bookmark this page for streamlined access to Scorpius Holdings' latest advancements in cell therapy manufacturing and bioprocess optimization. Check regularly for updates on technology platform deployments and regulatory submissions that demonstrate the company's growing capabilities in complex therapeutic development.
Scorpius Holdings (NYSE American: SCPX) has announced plans to launch its first cGMP mammalian manufacturing campaign at its San Antonio facility in Q3 2024. This milestone expands the company's biomanufacturing capabilities, particularly in mammalian cell culture production for advanced biopharmaceuticals. The launch follows the initiation of cGMP activities in Scorpius' microbial facilities, opening additional revenue streams for its CDMO operations.
CEO Jeff Wolf highlighted the rapid progress, noting that the mammalian facilities became operational in less than two years. The company's focus is on providing personalized attention and flexibility to clients, with cleanrooms featuring mobile equipment for customized configurations. Scorpius has already secured bookings for additional cGMP activities in the mammalian building for 2025, indicating strong demand for its expanded capabilities.
Scorpius Holdings (NYSE American: SCPX) has successfully executed its first current Good Manufacturing Practice (cGMP) microbial batches at its San Antonio facility. This milestone marks the beginning of Scorpius' support for manufacturing programs through clinical manufacturing, with potential for future commercial activities. The company has attracted significant interest, resulting in a substantial backlog of client program bookings.
CEO Jeff Wolf emphasized that this achievement demonstrates Scorpius' robust systems and commitment to U.S.-based cGMP activities. The company is poised to execute additional cGMP activities throughout the remainder of the year, reinforcing its position as a leader in clinical scale microbial manufacturing.
Scorpius Holdings (NYSE American: SCPX) has announced a 1-for-200 reverse stock split of its common stock, effective July 17, 2024, at 11:01 PM Eastern Time. The company's stock will begin trading on the OTC Markets on July 18, 2024, under the same ticker symbol 'SCPX' but with a new CUSIP number. This decision aims to increase the stock's selling price to regain compliance with NYSE American requirements, although success is not guaranteed.
The reverse split was approved by shareholders at the Annual Meeting on July 15, 2024. Stockholders' ownership percentages will remain unchanged, except for fractional shares. Scorpius Holdings is an integrated contract development and manufacturing organization (CDMO) specializing in biologic and cell therapy programs.
Scorpius Holdings (NYSE American: SCPX) has received a delisting notice from NYSE American due to its low-selling stock price, under Section 1003(f)(v) of the NYSE American Company Guide. The company plans to appeal the decision to the Exchange's Listing Qualifications Panel, though success is not guaranteed. CEO Jeff Wolf expressed disagreement with the ruling, citing recent positive developments. Scorpius Holdings operates as a CDMO, focusing on biologic and cell therapy programs, offering a range of analytical testing, process development, and manufacturing services from its facilities in San Antonio, Texas.
Scorpius Holdings (NYSE American: SCPX), a contract development and manufacturing organization (CDMO), has formed a strategic partnership with Beyond Imagination, a developer of autonomous AI-powered humanoid robots. The collaboration aims to enhance biomanufacturing productivity and efficiency through the integration of AI robotics, which can operate 24/7 and share knowledge via Beyond’s Hive Mind capability. This initiative addresses challenges in biomanufacturing due to increased demand and labor shortages, aiming to improve scalability and preparedness for crises like pandemics. Key figures like Ray Kurzweil and Elon Musk have endorsed the potential impact of humanoid robots on industry transformation.
Scorpius Holdings (NYSE American: SCPX) reported a 359% year-over-year increase in revenue for Q1 2024, reaching $3.5 million, compared to $0.8 million in Q1 2023.
The jump is attributed to expanded biomanufacturing operations and service offerings. Operating expenses were reduced by 34%, and net loss decreased by 64%, from $12.8 million to $4.4 million.
Key reductions included a $2.4 million drop in R&D expenses and a $1.5 million decrease in SG&A expenses. The company noted a growing revenue backlog of $10.8 million as of March 31, 2024.
Scorpius also raised $6.0 million through a public offering in May 2024, and held $1.7 million in cash and short-term investments at the end of Q1 2024.
Scorpius Holdings (NYSE American: SCPX) has announced a major expansion in San Antonio, Texas, with the opening of a new state-of-the-art storage and testing facility. This expansion significantly increases their warehouse space from ~3,000 to ~22,000 square feet, addressing the growing demand for their biomanufacturing services.
The facility, designed to meet or exceed industry standards, includes specialized storage areas with temperatures between -20°C and -80°C, designated spaces for contained sampling, quality control testing, and bulk drug substance storage. The new facility will also feature a robust stability program, enhancing Scorpius' service offerings and creating a new revenue stream.
CEO Jeff Wolf highlighted the facility's role in providing clients with continuity through their supply chain and supporting their needs from process development to drug substance release.
On May 16, 2024, Scorpius Holdings announced the closing of its underwritten public offering of 60,000,000 common units and/or pre-funded units at $0.10 per unit. Each unit includes one share of common stock or a pre-funded warrant and a common warrant with an exercise price of $0.12, exercisable for five years. The offering raised gross proceeds of $6,000,000 before underwriting discounts and expenses. Additionally, underwriters have a 45-day option to purchase up to an extra 9,000,000 shares and/or warrants to cover over-allotments. Net proceeds will fund working capital, corporate purposes, and repay a $750,000 promissory note. ThinkEquity acted as sole book-running manager.
Scorpius Holdings (NYSE American: SCPX) has praised Congress for introducing the bipartisan BIOSECURE Act, aimed at strengthening U.S. pharmaceutical supply chain and reducing dependency on foreign manufacturers. The Act has advanced out of the House Oversight Committee and is expected to be voted on by the end of the year. Scorpius has expanded its U.S.-based production facilities and invested in advanced technologies to align with these legislative goals. CEO Jeff Wolf emphasized the importance of passing the Act to ensure America's health security. Scorpius is committed to supporting U.S. Government-backed pharmaceutical programs and furthering domestic biomanufacturing initiatives.
Scorpius Holdings (NYSE American: SCPX) has achieved a significant milestone with the successful validation of its microbial manufacturing facilities for cGMP (current Good Manufacturing Practice) production. This approval enhances the company's ability to produce high-quality microbial biologic drugs, meeting stringent regulatory and client standards. The validation has led to a backlog of client bookings, reflecting trust in Scorpius' capabilities. Additionally, the company is transitioning its environmental monitoring responsibilities to internal teams, aiming to improve operational efficiency. CEO Jeff Wolf emphasized the importance of this milestone in reinforcing Scorpius' commitment to quality and supporting the development of breakthrough therapies.
