Welcome to our dedicated page for ThermoGenesis Holdings news (Ticker: THMO), a resource for investors and traders seeking the latest updates and insights on ThermoGenesis Holdings stock.
ThermoGenesis Holdings, Inc. (NASDAQ: THMO) is a leading developer and marketer of advanced technologies for CAR-T and other cell-based therapies. The company provides a comprehensive suite of solutions for automated clinical biobanking, point-of-care applications, and automation for immuno-oncology. A key product is their CAR-TXpress platform, a semi-automated, functionally closed system that streamlines the manufacturing process for CAR-T immunotherapy, a rapidly growing segment in cancer treatment.
ThermoGenesis operates through two main segments: Device and Clinical Development. They manufacture and market several biomedical devices, including the AXP Automated Cell Separation System for isolating stem and progenitor cells from umbilical cord blood, and the BioArchive Automated Cryopreservation System, a robotic, liquid nitrogen-controlled system for storing cord blood samples and cell therapeutic products.
Recently, the company has been making significant strides in expanding its capabilities. In October 2023, ThermoGenesis completed a state-of-the-art, 35,500+ square foot facility in Sacramento, CA, featuring ISO 7 cGMP cleanroom suites and IncuStart Wet Labs. This facility supports the company's strategic shift towards becoming a high-performance, integrated Contract Development and Manufacturing Organization (CDMO), specializing in cell and gene therapy.
The new ReadyStart cGMP Cleanrooms and IncuStart Wet Labs provide the necessary environment, equipment, and services for R&D and cGMP manufacturing of cell and gene therapies. This development is part of ThermoGenesis' ongoing transformation from a traditional medical device company to a comprehensive cell and gene therapy services provider.
On the financial front, ThermoGenesis has recently reported its third-quarter results for 2023. While net revenues increased slightly to $2,194,000 compared to the previous year, the company continues to face challenges, including a net loss attributable to common stockholders of $3,615,000 for the same quarter. However, with cash and cash equivalents of over $4 million as of September 2023, the company remains focused on leveraging its new facilities and expertise to accelerate product development and commercialization in the life sciences sector.
Partnerships and Strategic Initiatives
- ThermoGenesis recently welcomed two new independent directors, Biao Xi, Ph.D., and James Xu, Esq., to its board, bringing valuable expertise as the company continues to execute its strategic vision.
- The company has made a long-term investment in the Greater Sacramento area, contributing to the region's growth as a life sciences hub.
With over 35 years in the industry, ThermoGenesis Holdings, Inc. is set to play a pivotal role in advancing cell-based therapies and supporting companies in achieving their milestones more efficiently. For more information, visit their website.
ThermoGenesis Holdings, Inc. (THMO) announced it will release its financial results for the year ending December 31, 2022, on March 30, 2023. The release will include a corporate strategic update following the market close. A conference call is scheduled for the same day at 1:30 p.m. PT (4:30 p.m. ET), accessible via phone or live webcast. ThermoGenesis specializes in automated technologies for CAR-T and other cell-based therapies, offering solutions for automated clinical biobanking and immuno-oncology. Investors can access a webcast replay on the company’s website for three months following the event.
ThermoGenesis Holdings, Inc. (Nasdaq: THMO) announced the closing of a private placement, selling 1,071,429 shares at $2.80 each, along with warrants to purchase an equal number of shares at an exercise price of $2.65. The gross proceeds reached approximately $3 million, aimed at working capital and general corporate purposes. Additionally, existing warrants for 158,731 shares, initially priced at $6.30, were amended to the same $2.65 exercise price. This transaction underscores ThermoGenesis' efforts in the automated cell processing market for cell and gene therapies.
ThermoGenesis Holdings, Inc. (Nasdaq: THMO) announced a private placement to sell 1,071,429 shares of common stock and warrants for a total gross proceeds of approximately $3 million. The shares will be sold at $2.80 each, with warrants exercisable at $2.65 per share. The offering is expected to close on or about March 20, 2023. The net proceeds will support working capital and general corporate purposes. Additionally, ThermoGenesis will amend existing warrants to lower their exercise price from $6.30 to $2.65. The company is also required to file a registration statement with the SEC by April 5, 2023.
ThermoGenesis Holdings, Inc. (THMO) announced the launch of a new facility in Sacramento, featuring 12 ReadyStart cGMP Suites for early-stage life science and cell gene therapy companies. This initiative aligns with ThermoGenesis' strategy to transition into a contract development and manufacturing organization (CDMO). The facility, which will be operational in Q2 or Q3 2023, could generate $10-16 million in annual revenue if fully leased. The ReadyStart Suites aim to provide flexible solutions that accelerate product development while alleviating resource burdens for startups.
ThermoGenesis Holdings, Inc. (NASDAQ: THMO) announced on January 11, 2023, that it has regained compliance with Nasdaq's minimum bid price requirement. This follows a notification from Nasdaq on March 7, 2022, when the company was found to have fallen below the $1.00 minimum bid price for 30 consecutive business days. As of January 9, 2023, THMO's closing bid price has been at or above $1.00 for the previous 10 business days, thus closing the compliance matter.
ThermoGenesis Holdings, Inc. (NASDAQ: THMO) announces a 1-for-45 reverse stock split effective December 22, 2022. The decision follows stockholder approval at the Annual Meeting on December 15, 2022, where the Board aimed to regain compliance with NASDAQ's $1.00 minimum bid price requirement by March 6, 2023. Post-split, 45 shares will convert into one share, and any fraction will be rounded. The company continues to trade under the symbol 'THMO' and aims to improve its market position in automated cell processing and therapies.
ThermoGenesis Holdings, Inc. (THMO) reported a 33% decrease in net revenues for Q3 2022, totaling $2.1 million, down from $3.2 million in Q3 2021, largely due to lower sales in China. Gross profit also fell to $0.4 million (21% of net revenue) from $1.1 million (35%). Selling, general, and administrative expenses increased to $2.0 million. The net loss widened to $3.2 million or ($0.10) per share. The company plans to launch a new cGMP compliant CDMO facility to address growing manufacturing needs in regenerative medicine.
ThermoGenesis Holdings, Inc. (NASDAQ: THMO) announced its upcoming release of third-quarter 2022 financial results, scheduled for November 10, 2022. The report will include a corporate strategic update. Following the release, a conference call will occur at 1:30 p.m. PT / 4:30 p.m. ET, with participation options available for both domestic and international investors. ThermoGenesis specializes in automated cell processing and therapies, notably its CAR-TXpress™ platform for CAR-T immunotherapy. Further details are accessible on their website.
ThermoGenesis Holdings, Inc. (NASDAQ: THMO) has closed a public offering of 11,783,572 common shares and 2,892,858 pre-funded warrants, raising approximately $2.05 million at an offering price of $0.14 per share. The warrants can be exercised at the same price starting upon stockholder approval and will expire in five years. The offering was conducted under a recently effective registration statement. The funds raised are expected to support development efforts in automated cell processing and therapies.
ThermoGenesis Holdings, Inc. (NASDAQ: THMO) announced a public offering of 11,783,572 shares of common stock at $0.14 per share, expected to raise approximately $2.05 million. The offering, led by H.C. Wainwright & Co., includes warrants for the purchase of the same number of shares. Proceeds will fund the Company's planned Contract Development and Manufacturing Organization (CDMO) for cell and gene therapies, equipment acquisition, and general corporate purposes. The offering is anticipated to close on or about October 28, 2022.
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