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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) reported a 34% increase in net revenues to $3.2 million for Q3 2021, driven by a 98% rise in AXP sales compared to Q3 2020. However, gross profit declined 26% to $1.1 million, reflecting a previous COVID-19 testing refund impacting profitability. The company recorded a net loss of $1.8 million, improving from a $2.5 million loss in Q3 2020. R&D expenses decreased 28% to $0.5 million, and SG&A expenses fell by 9% to $1.7 million. Cash reserves rose slightly to $7.6 million. ThermoGenesis aims to expand its CDMO services using its CAR-TXpress™ platform.
ThermoGenesis Holdings, Inc. (Nasdaq: THMO) will announce its third-quarter financial results for the period ending September 30, 2021, along with a corporate strategic update on November 12, 2021, after market close. A conference call will follow at 1:30 PM PT / 4:30 PM ET. Interested parties can participate by dialing the provided numbers or accessing the live webcast through the company’s investor relations page. A replay of the webcast will be available for three months. ThermoGenesis is focused on automated technologies for CAR-T and cell-based therapies.
ThermoGenesis Holdings, Inc. (THMO) has been awarded a $250,000 Phase I SBIR grant to develop a single-use sterile cell processing disposable for the Quintessence System. This system aims to improve efficiency in gene-engineered autologous cell therapies, which currently face high manufacturing waste rates. The enhanced X-Series® cartridge and X-BACS® reagents promise a 6-fold improvement in cell yield. The grant focuses on prototyping the cartridge and optimizing the cell manufacturing workflow, setting the stage for a follow-on Phase II proposal.
ThermoGenesis Holdings, Inc. (Nasdaq: THMO), a leader in automated cell processing, announced that its CEO, Chris Xu, Ph.D., will present at the H.C. Wainwright 23rd Annual Global Investment Conference on Sept. 7, 2021. The conference targets institutional investors interested in the company's advancements in cell and gene therapy technologies, particularly their CAR-TXpress™ platform, enhancing CAR-T immunotherapy manufacturing. Interested investors can register for on-demand presentations and one-on-one meetings via the conference website.
ThermoGenesis Holdings (THMO) reported second-quarter 2021 results with net revenues of $2.2 million, stable year-over-year. AXP sales increased by 64% to $1.0 million, indicating a potential recovery in cord blood revenues. Gross profit rose to $1.0 million, or 45% of net revenues, due to a previous year’s inventory reserve expense. However, selling expenses increased by 77% to $3.5 million, and the net loss narrowed to $4.5 million, or ($0.38) per share. Cash and equivalents grew to $8.7 million. The company aims to expand into CDMO services for cell and gene therapies.
ThermoGenesis Holdings, Inc. (Nasdaq: THMO) will release its financial results for Q2 2021 on August 12, 2021, after market close. A corporate strategic update will accompany the financial results, followed by a conference call at 1:30 p.m. PT/4:30 p.m. ET. Investors can participate by calling specified numbers or accessing a live webcast. ThermoGenesis specializes in automated technologies for CAR-T and cell-based therapies, including the CAR-TXpress™ platform. More details are available on their website.
ThermoGenesis Holdings, Inc. (THMO) reported Q1 2021 net revenues of $1.5 million, a 53% decline from Q1 2020 due to COVID-19. Gross profit remained at 47% but fell to $0.7 million. Selling, general, and administrative expenses decreased slightly to $2.0 million. R&D expenses dropped by 38% to $0.4 million. Interest expense decreased to $1.5 million. The company reported a comprehensive loss of $2.4 million, or ($0.21) per share, improved from a loss of $4.6 million in Q1 2020. Cash increased to $10 million, reflecting a 75% year-over-year boost.
ThermoGenesis Holdings, Inc. (Nasdaq: THMO) will announce its financial results for Q1 2021, ending March 31, on May 13, 2021, after market close. A conference call is scheduled for 1:30 p.m. PT/4:30 p.m. ET, allowing investors to discuss results and strategies. ThermoGenesis specializes in automated technologies for cell and gene therapy, including the CAR-TXpress™ platform. The company aims to streamline production in the CAR-T immunotherapy market, enhancing its position in this growing sector.
ThermoGenesis Holdings (THMO) reported a net revenue decline of 25% for 2020, totaling $9.7 million, driven by COVID-19's impact on the cord blood industry. Gross profit fell to $1.3 million (13% of revenues), down from $5.7 million (44%) in 2019. The company ended the year with $7.2 million in cash and improved working capital of $9.2 million. A new PXP-LAVARE System was developed for enhanced cell processing, aligning with a growing market for cell and gene therapies. The net loss widened to $16.3 million ($2.60 per share), compared to $9.5 million ($3.36) in 2019.
ThermoGenesis Holdings, Inc. (Nasdaq: THMO) will announce its fourth-quarter financial results for the period ending December 31, 2020, on March 17, 2021, after market close. The company will also provide a corporate strategic update during a conference call and webcast scheduled for 1:30 p.m. PT/4:30 p.m. ET. Participants can join the call by dialing specific numbers for domestic and international listeners. A replay of the webcast will be accessible on the company’s website for three months.
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