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. (Nasdaq: THMO) announced that CEO Chris Xu will present a company overview at the H.C. Wainwright 24th Annual Global Investment Conference from September 12-14, 2022. His presentation is scheduled for September 14, 2022, at 12:00pm Eastern Time. The event will include in-person and virtual meetings for institutional investors. Attendees can request meetings through the conference website. A live webcast of the presentation will be accessible on the company’s website, with an archived replay available for 90 days.
ThermoGenesis Holdings (THMO) reported a 38% increase in total revenues for Q2 2022, totaling $3.0 million, driven primarily by AXP sales. Despite this revenue growth, gross profit declined to 31% of net revenue, down from 45%, attributed to higher costs and inventory reserves. The company reduced its selling, general, and administrative expenses by 43% to $2.0 million. A comprehensive net loss of $2.7 million was reported, improved from a loss of $4.5 million a year earlier. Cash reserves decreased to $4.0 million as of June 30, 2022.
ThermoGenesis Holdings, Inc. (Nasdaq: THMO) will release its financial results for the second quarter ended June 30, 2022, on August 11, 2022. A corporate strategic update will accompany the results, followed by a conference call at 12:00 p.m. PT. Investors can participate via phone or webcast. The company specializes in automated technologies for CAR-T and other cell-based therapies, offering solutions for clinical biobanking and immuno-oncology.
ThermoGenesis Holdings, Inc. (THMO) reported a 76% increase in net revenues to $2.7 million for Q1 2022, attributed to higher AXP® disposable sales. Gross profit rose to $0.9 million but as a percentage of revenue, it decreased to 35%. Operating expenses declined by 15%, while R&D expenses increased by 20%. The net loss improved to $1.9 million, or $0.16 per share, compared to $2.4 million, or $0.21 per share a year prior. New agreements with Boyalife Genomics and Z3 Investment will support the launch of a CDMO division, TG Biosynthesis, enhancing the company’s manufacturing capabilities.
ThermoGenesis Holdings, Inc. (Nasdaq: THMO) will release its first quarter financial results for the period ending March 31, 2022, alongside a corporate strategic update on May 19, 2022, after trading hours. A conference call will follow at 1:30 p.m. PT/4:30 p.m. ET. The company specializes in automated cell processing tools and services, particularly in the cell and gene therapy markets. The event will be accessible via telephone and webcast, with a replay available on their website for three months.
ThermoGenesis Holdings, Inc. (THMO) has signed a License Agreement with Boyalife Genomics to establish a CDMO cell therapy manufacturing division, TG Biosynthesis, operating out of a leased 35,475 square foot facility in Sacramento, CA. The agreement includes a running royalty of 7.5% on net sales of licensed products. In 2021, net revenues decreased by 5% to $9.3 million, with a notable increase in gross profit to $3.5 million. The company reported a net loss of $11.4 million, improving from a loss of $16.3 million in 2020. A conference call is scheduled to discuss these developments.
ThermoGenesis Holdings (Nasdaq: THMO) will announce its financial results for Q4 2021 on March 28, 2022, after market close. A conference call will follow at 1:30 p.m. PT. The company specializes in automated cell processing technologies for cell and gene therapy, including the CAR-TXpress™ platform for CAR-T immunotherapy. Webcast access will be available for three months post-call on their investor page.
ThermoGenesis Holdings, Inc. (Nasdaq: THMO) will reconvene its 2021 Annual Meeting of Stockholders on January 13, 2022, at 12:00 p.m. EST, after the initial meeting on December 16, 2021, was adjourned due to lack of quorum. The meeting takes place at the company's headquarters in Rancho Cordova, CA. Stockholders of record as of October 26, 2021, are urged to vote by January 12, 2022. Proxies representing approximately 49.39% of shares will be considered at the rescheduled meeting. Important details and proxy materials are available on their website.
ThermoGenesis Holdings, Inc. (Nasdaq: THMO) announced that CFO Jeff Cauble will present a company overview at the H.C. Wainwright BioConnect Virtual Conference from January 10-13, 2022. The presentation will be available on their website for on-demand viewing and will be archived for 90 days. ThermoGenesis specializes in automated cell processing technologies for CAR-T and cell-based therapies, offering solutions for clinical biobanking and immuno-oncology applications. For more details, visit their website.
ThermoGenesis Holdings, Inc. (THMO) announced that its Annual Meeting of Stockholders, initially set for December 16, 2021, was adjourned due to a lack of quorum. Fewer than the majority of shares entitled to vote were present. The meeting will reconvene on January 13, 2022, allowing more time for stockholders to vote on proposals outlined in the Proxy Statement filed with the SEC on November 5, 2021. Stockholders are encouraged to vote by January 12, 2022. Proxies submitted will remain valid unless revoked.
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