Business
BioLife Solutions Announces $9.6 Million to $9.8 Million in Preliminary Revenue for Q2 2020
BOTHELL, Wash., July 1, 2020 /PRNewswire/ -- BioLife Solutions, Inc. (NASDAQ: BLFS) ("BioLife" or the "Company"), a leading developer and supplier of a
About this update from Biolife Solutions, Inc.
[{"type":"text","content":" BOTHELL, Wash., July 1, 2020 /PRNewswire/ -- BioLife Solutions, Inc. (NASDAQ: BLFS) (\"BioLife\" or the \"Company\"), a leading developer and supplier of a portfolio of class-defining bioproduction tools for cell and gene therapies, today announced estimated preliminary revenue for the second quarter of 2020 of $9.6 million to $9.8 million, representing 43% to 46% growth over the same quarter in 2019.\n\n \n \n \n \n \n \n\n \nMike Rice, BioLife's CEO, commented, \"Despite the continued impact of COVID-19 on the biotech industry and specifically, the cell and gene therapy market, we continued to drive revenue growth in the second quarter. In the first six months of 2020, we added 57 new customers and confirmed that our biopreservation media products have been embedded in 23 additional customer clinical trials.\"\nThe financial data presented for the second quarter of 2020 should be considered preliminary and could be subject to change as these preliminary results are based on management's initial analysis of operations and are subject to further internal review and the Company's independent auditor, BDO USA, LLP, who have not completed their review.\nAbout BioLife Solutions\nBioLife Solutions is a leading supplier of cell and gene therapy bioproduction tools. Our tools portfolio includes our proprietary CryoStor® freeze media and HypoThermosol® shipping and storage media, ThawSTAR® family of automated, water-free thawing products, evo® cold chain management system, and Custom Biogenic Systems high capacity storage freezers. For more information, please visit www.biolifesolutions.com, and follow BioLife on Twitter. \nCautions Regarding Forward Looking Statements \nExcept for historical information contained herein, this press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements concerning the expected financial performance of the company following the completion of its 2019 acquisitions and giving effect to the COVID-19 pandemic, the company's ability to implement its business strategy and anticipated business and operations, in particular following its 2019 acquisitions and giving effect to the COVID-19 pandemic, the company's anticipated future growth strategy, including the acquisitio...