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Societal CDMO, Inc. - SCTL STOCK NEWS

Welcome to our dedicated page for Societal CDMO news (Ticker: SCTL), a resource for investors and traders seeking the latest updates and insights on Societal CDMO stock.

Societal CDMO, Inc. (SCTL) is a prominent player in the pharmaceutical manufacturing industry, specializing in solid dosage form development, clinical and commercial manufacturing, and packaging and logistics services. Under its subsidiary Recro Gainesville, LLC, the company provides expert solutions for extended-release solid dose and DEA-controlled substances. Their state-of-the-art, 97,000-square-foot manufacturing facility is equipped to handle the most complex pharmaceutical development and manufacturing projects.

The company recently announced additional work across its facilities in California and Georgia, which now includes analytical method development and validation, dissolution testing, and manufacturing of prototype, surrogate, and engineering batches. This expansion aims to enhance their service offerings and increase operational efficiency.

In response to macro pharmaceutical market financing challenges, Societal CDMO has initiated a strategic realignment to right-size its organization. This move is designed to boost efficiency in areas of historical strength and ensure long-term sustainability.

The company’s recent acquisition, Benuvia Operations, LLC, specializes in the development and manufacturing of controlled substance APIs and drug products, focusing on cannabinoids and psychedelics. Benuvia owns the FDA-approved cannabinoid drug product SYNDROS, aimed at alleviating chemotherapy-induced nausea and vomiting (CINV) and anorexia in AIDS patients. Operating out of an 83,000-square-foot, FDA-registered manufacturing facility, Benuvia adheres to cGMP standards, offering both APIs and complex finished dosage forms.

With a commitment to innovation, Societal CDMO continues to expand its portfolio of DMFs and is actively pursuing new intellectual property avenues for its drug products. The company's integrated services extend from research and route scouting to the commercialization of high-value, low-volume products, making it a reliable partner for end-to-end pharmaceutical development.

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Societal CDMO, Inc. closed its underwritten public offering, raising $8.3 million for general corporate purposes.
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Societal CDMO, Inc. announced the pricing of its underwritten public offering of 20,750,000 shares of common stock at $0.40 per share, with gross proceeds of $8.3 million.
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Societal CDMO, Inc. is commencing an underwritten public offering of its common stock, subject to market conditions. Craig-Hallum Capital Group LLC is the sole managing underwriter for the offering.
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Societal CDMO appoints Matt Arens to board of directors
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Societal CDMO, Inc. reported Q2 revenue of $21.8 million, signed new business agreements, and secured a Schedule 1 Controlled Substance Manufacturing License. EBITDA guidance revised to $12-15 million. Q2 net loss of $3.2 million. Revenue for six months ended June 30, 2023, was $43.3 million. EBITDA for six months was $3.4 million.
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Societal CDMO, Inc. (SCTL) Announces Q2 2023 Financial Results Webcast and Operational Highlights
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Societal CDMO, a contract development and manufacturing organization, has announced the addition of new employees to fill open roles. Inducement stock option grants were approved for the new hires, totaling 54,910 shares of the company's common stock. The grants were made as part of each employee's compensation and will vest over four years.
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FAQ

What is the market cap of Societal CDMO (SCTL)?

The market cap of Societal CDMO (SCTL) is approximately 116.1M.

What does Societal CDMO, Inc. specialize in?

Societal CDMO specializes in solid dosage form development, clinical and commercial manufacturing, and packaging and logistics services.

What recent expansion has Societal CDMO undertaken?

The company has expanded its work across facilities in California and Georgia to include analytical method development, validation, dissolution testing, and manufacturing of prototype, surrogate, and engineering batches.

What is the significance of the strategic realignment by Societal CDMO?

The strategic realignment aims to right-size the organization to address macro pharma market financing challenges and increase operational efficiency in areas of historical strength.

What is the role of Benuvia Operations, LLC in Societal CDMO's portfolio?

Benuvia specializes in the development and manufacturing of controlled substance APIs and drug products, focusing on cannabinoids and psychedelics. It owns the FDA-approved cannabinoid drug product SYNDROS.

What is SYNDROS, and what is it used for?

SYNDROS is an FDA-approved cannabinoid drug product designed to alleviate chemotherapy-induced nausea and vomiting (CINV) and anorexia in AIDS patients.

What makes Societal CDMO a reliable partner in pharmaceutical development?

The company offers integrated services from research and route scouting to commercial products, adhering to current Good Manufacturing Practices (cGMP).

How large is Benuvia's manufacturing facility?

Benuvia operates an 83,000-square-foot, FDA-registered manufacturing facility.

What kind of substances does Societal CDMO handle in their manufacturing processes?

Societal CDMO deals with extended-release solid dose and DEA-controlled substances.

Does Societal CDMO have a focus on any specific drug forms?

Yes, they specialize in extended-release solid dosage forms and complex finished dosage forms.

What measures does Societal CDMO take to ensure innovation?

The company is committed to innovation by expanding its portfolio of DMFs and pursuing new intellectual property avenues for its drug products.

Societal CDMO, Inc.

Nasdaq:SCTL

SCTL Rankings

SCTL Stock Data

116.13M
53.02M
45.32%
57.56%
0.26%
Drug Manufacturers - Specialty & Generic
Healthcare
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United States
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