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 the completion of the development and FDA submission for its PXP-LAVARE System, an automated cell processing system aimed at improving the manufacturing of cell-based therapies, including CAR-T cells. The system is GMP compliant and features a control module, docking station, and disposable cartridge, all intended for cGMP clinical manufacturing. CEO Chris Xu highlighted the company's commitment to innovation in the rapidly expanding cell and gene therapy market.
ThermoGenesis Holdings, Inc. (Nasdaq: THMO) announced that CFO Jeff Cauble will present a company overview at the H.C. Wainwright BIOCONNECT 2021 Conference on January 11 at 6:00 am ET. The presentation will be accessible on ThermoGenesis' website and archived for 90 days. The company specializes in automated technologies for CAR-T and cell-based therapies, offering a range of solutions for clinical biobanking and immuno-oncology. For further details, visit their website.
ThermoGenesis Holdings, Inc. (Nasdaq: THMO) reported net revenues of $2.4 million for Q3 2020, a 42% drop from $4.1 million in Q3 2019. This decline was attributed to reduced AXP® disposable and CAR-TXpress™ sales, impacted by the COVID-19 pandemic. Gross profit decreased to $1.5 million, representing 64% of net revenues. The company posted a net loss of $2.5 million, or $(0.37) per share. Adjusted EBITDA showed a loss of $672,000, a significant decline from a gain of $125,000 in the prior year. However, cash reserves improved to $4.4 million.
ThermoGenesis Holdings, Inc. (Nasdaq: THMO) is set to release its third-quarter financial results for the period ending September 30, 2020, on November 12, 2020. Following the announcement, the company will hold a conference call and webcast at 1:30 p.m. PT/4:30 p.m. ET to discuss the results and provide a corporate strategic update. The company specializes in automated cell processing tools and services, primarily for the cell and gene therapy sector.
ThermoGenesis Holdings, Inc. (Nasdaq: THMO) has announced it will receive U.S. Patent No. 10,823,746 for its innovative lateral flow immunoassay test reader technology, the ThermoGenesis Reader, on November 3. This technology aims to enhance the deployment of COVID-19 vaccines by prioritizing seronegative individuals during limited supply phases. The Reader features advanced laser-scanning capabilities and will begin production in December, anticipating vaccine approvals. FDA-authorized LFIA cartridges will be certified for use with the Reader, promoting efficient monitoring of vaccine responses.
On September 2, 2020, ThermoGenesis Holdings (Nasdaq: THMO) partnered with its joint venture, ImmuneCyte, to launch a comprehensive suite of products aimed at combating the COVID-19 pandemic. This strategy includes both diagnostics and therapeutics, enhancing disease detection and treatment. Key elements involve the development of various RT-PCR and antigen tests, complementing the already authorized SARS-CoV-2 IgM/IgG Antibody Test Kit. The initiative positions ThermoGenesis as a one-stop solution for COVID-19 testing and treatment, as discussed in their presentation at the LD Micro 500 Conference.
ThermoGenesis Holdings, Inc. (Nasdaq: THMO), a leader in cell processing technologies, announced participation in two upcoming investor conferences in September 2020. CEO Chris Xu will present at the LD Micro 500 on September 2 at 5:00 pm ET, with a live webcast available on their website. CFO Jeff Cauble will present at the H.C. Wainwright 22nd Annual Global Investment Conference on September 15 at 12:00 pm ET, also accessible via webcast. Archived replays of both presentations will be available for 90 days post-conference.
ThermoGenesis Holdings, Inc. (THMO) reported a Q2 2020 net revenue of $2.2 million, down 48% from $4.3 million in Q2 2019. This decline was due to reduced AXP disposable sales amid the COVID-19 pandemic, affecting the cord blood industry. Gross profit was a loss of $2.6 million compared to a profit of $2.0 million year-over-year. However, CAR-TXpress™ sales increased by $400,000 thanks to distributor Corning. The company expects sales to return to normal post-pandemic and is strategically expanding its product offerings, including COVID-19 solutions.
ThermoGenesis Holdings, Inc. (Nasdaq: THMO) announced a supply agreement with BioHit Healthcare to market a SARS-CoV-2 IgM/IgG Antibody Test Kit, which has received Emergency Use Authorization (EUA) from the FDA. Marketing of the test kit is set to begin on August 17, 2020. The company has also withdrawn its own EUA submission for a previously announced antibody detection kit. ThermoGenesis is working on a companion reader to enhance serological testing accuracy and tracking, aiming to contribute to pandemic monitoring efforts.
FAQ
What is the current stock price of Thermogenesis Holdings (THMO)?
What is the market cap of Thermogenesis Holdings (THMO)?
What does ThermoGenesis Holdings, Inc. specialize in?
What are the key products offered by ThermoGenesis?
What is the significance of the CAR-TXpress platform?
What are the new developments at ThermoGenesis?
Which segments does ThermoGenesis operate through?
How is ThermoGenesis contributing to the Greater Sacramento area?
What financial challenges is ThermoGenesis facing?
What strategic shifts has ThermoGenesis made?
Who recently joined the ThermoGenesis Board of Directors?
How does ThermoGenesis support early-stage biotechnology companies?
