PR Newswire
IRVINE, Calif., May 3, 2018
IRVINE, Calif., May 3, 2018 /PRNewswire/ -- Cryoport, Inc. (NASDAQ: CYRX) (NASDAQ: CYRXW) ("Cryoport" or the "Company"), the global leader in temperature-controlled logistics dedicated to the life sciences industry, today announced financial results for the three-month period ended March 31, 2018.
"Our First Quarter revenue increased 48% year-over-year, or 21% sequentially, to $4 million," Jerrell Shelton, Chief Executive Officer of Cryoport, commented. "This was another strong quarter for Cryoport as we continue to ramp reported revenue from our commercial agreements to provide logistics support for Gilead's Yescarta™ and Novartis' Kymriah™, the first two FDA-approved CAR-T therapies. We believe the rollout of these therapies will accelerate based on our clients' schedules; thus, driving significant revenue growth for the Company for the remainder of 2018 and beyond. Moreover, the FDA has just approved Novartis' Kymriah™ for its second indication, the treatment of adult patients with relapsed or refractory large B-cell lymphoma, which will drive further expansion of our logistics support to Novartis.
"We also continued to grow the foundation for medium and long-term growth during the first quarter as we increased the number of clinical trials we support by 22, bringing the total number of clinical trials we support to a record 236, up from 214 at the end of the fourth quarter of 2017, and 139 at the end of the first quarter of 2017. Significantly, 31 of these clinical trials currently supported by Cryoport are now in Phase III. Furthermore, we anticipate supporting five or six additional BLA or EMA filings in 2018, based on internal information and a forecast from the Alliance for Regenerative Medicine, in addition to Kymriah's second indication FDA approval.
"This growth in our clinical trial support programs represents embedded revenue growth, and together with the anticipated rollout of Gilead's and Novartis' commercial therapies, should fuel significant top line revenue growth for the remainder of 2018 and beyond. As a result of these developments and our infrastructure buildout, Cryoport, by all measures, is in the strongest position it has ever been. Most assuredly, we will continue to work diligently to maintain our market position as the new wave of regenerative therapies roll out and provide patients with potentially life-saving treatment alternatives. Our role in the personalized medicine market presents Cryoport with increasing opportunities to serve this revolution in medicine and build shareholder value for many years.
"In addition to the tremendous growth opportunities in the Biopharma market, we also continue to believe that both the Reproductive Medicine and Animal Health markets have considerable upside for growth," concluded Mr. Shelton.
Market Highlights:
Biopharma
Animal Health
Reproductive Medicine
Financial Results:
Further information on Cryoport's financial results is included on the attached condensed consolidated balance sheets and statements of operations, and additional explanations of Cryoport's financial performance is provided in Cryoport's annual report on Form 10-Q for the three-month period ended March 31, 2018, which will be filed with the Securities and Exchange Commission ("SEC") on May 3, 2018. The full report will be available on the SEC Filings section of the Investor Relations section of the Company's website at www.cryoport.com.
Earnings Conference Call Information
Date: | Thursday, May 3, 2018 |
Time: | 4:30 p.m. ET |
Dial-in numbers: | +1 (877) 407-9716 (U.S.) or +1 (201) 493-6779 (International) |
Confirmation | Request "Cryoport Call" |
Live webcast: | Investor Relations section at www.cryoport.com or at this link. Please allow 10 minutes prior to the call to visit this site to download and install any necessary audio software. |
An archive of the webcast will be available approximately three hours after completion of the live event and will be accessible on the Investor Relations section of the Company's website at www.cryoport.com for a limited time. To access the replay of the webcast, please follow this link. A dial-in replay of the call will also be available to those interested until May 10, 2018. To access the replay, dial 1 (844) 512-2921 (United States) or 1 (412) 317-6671 (International) and enter replay pin number: 13678990.
About Cryoport, Inc.
Cryoport is the life sciences industry's most trusted global provider of temperature-controlled logistics solutions for temperature-sensitive life sciences commodities, serving the biopharmaceutical market with leading-edge logistics solutions for biologic materials, such as regenerative medicine, including immunotherapies, stem cells and CAR-T cells. Cryoport's solutions are used by points-of-care, CRO's, central laboratories, pharmaceutical companies, manufacturers, university researchers et al; as well as the reproductive medicine market, primarily in IVF and surrogacy; and the animal health market, primarily in the areas of vaccines and reproduction. Cryoport's proprietary Cryoport Express® Shippers, Cryoportal™ Logistics Management Platform, leading-edge SmartPak II™ Condition Monitoring System and geo-sensing technology, paired with unparalleled cold chain logistics expertise and 24/7 client support, make Cryoport the end-to-end cold chain logistics partner that the industry trusts.
Cryoport is dedicated to:
For more information, visit www.cryoport.com. Sign up to follow @cryoport on Twitter at www.twitter.com/cryoport.
Forward Looking Statements
Statements in this news release which are not purely historical, including statements regarding Cryoport, Inc.'s intentions, hopes, beliefs, expectations, representations, projections, plans or predictions of the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. It is important to note that the Company's actual results could differ materially from those in any such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, risks and uncertainties associated with the effect of changing economic conditions, trends in the products markets, variations in the Company's cash flow, market acceptance risks, and technical development risks. The Company's business could be affected by a number of other factors, including the risk factors listed from time to time in the Company's SEC reports including, but not limited to, the Company's 10-K for the year ended December 31, 2017 filed with the SEC. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this press release. Cryoport, Inc. disclaims any obligation, and does not undertake to update or revise any forward-looking statements in this press release.
Cryoport Inc. and Subsidiary | ||||||
Consolidated Statements of Operations | ||||||
(unaudited) | ||||||
| ||||||
| | | Three Months Ended | | ||
| | | 2018 | | 2017 | |
Revenues | | $ 4,023,189 | | $ 2,712,234 | | |
Cost of revenues | 1,838,826 | | 1,458,737 | | ||
Gross margin | 2,184,363 | | 1,253,497 | | ||
| | | | | | |
Operating costs and expenses: | | | | | ||
| General and administrative | 2,068,510 | | 1,703,032 | | |
| Sales and marketing | 1,584,428 | | 1,069,935 | | |
| Engineering and development | 329,730 | | 249,843 | | |
Total operating costs and expenses | 3,982,668 | | 3,022,810 | | ||
| | | | | | |
Loss from operations | (1,798,305) | | (1,769,313) | | ||
Other income (expense): | | | | | ||
| Interest expense | - | | (15,667) | | |
| Warrant inducement and repricing expense | (899,410) | | - | | |
| Other income, net | 15,768 | | - | | |
Loss before provision for income taxes | (2,681,947) | | (1,784,980) | | ||
Provision for income taxes | (813) | | (4,231) | | ||
Net loss | | $ (2,682,760) | | $ (1,789,211) | | |
| | | | | | |
Net loss per share - basic and diluted | $ (0.10) | | $ (0.10) | | ||
Weighted average shares outstanding - basic and diluted | 26,774,179 | | 17,604,283 | |
Cryoport Inc. and Subsidiary | |||||
Condensed Consolidated Balance Sheets | |||||
| | | | | |
| | | March 31, | | December 31, |
| | | 2018 | | 2017 |
| | | (unaudited) | | |
Current Assets: | | | | ||
| Cash and cash equivalents | $ 18,993,994 | | $ 15,042,189 | |
| Accounts receivable, net Werbung Mehr Nachrichten zur CryoPort Aktie kostenlos abonnieren
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