Business
Cryoport Reports 2020 Second-Quarter Results
Revenue from commercial therapies increased 38% over the prior year 26 net clinical trial adds, now supporting 491 clinical trials in Regenerative Medicine
About this update from Cryoport, Inc.
[{"type":"text","content":"Revenue from commercial therapies increased 38% over the prior year\n 26 net clinical trial adds, now supporting 491 clinical trials in Regenerative Medicine market\n\n\nNASHVILLE, Tenn., Aug. 6, 2020 /PRNewswire/ -- Cryoport, Inc. (NASDAQ: CYRX) (\"Cryoport\"), a global leader in life sciences supply chain solutions, today announced financial results for Second Quarter and six-month period ended June 30, 2020. \n\n \n \n \n \n \n \n\n \n\"For the Second Quarter of 2020, we reported revenue of $9.4 million, an increase of 11% from the Second Quarter of 2019. This was largely driven by revenue from our biopharma segment. We are pleased to have achieved these solid results and to have provided advanced temperature-controlled supply chain services to deliver high-value therapies to eligible patients across our clinical and commercial portfolios globally and without disruption,\" said Jerrell Shelton, Chairman and Chief Executive Officer.\n\"Our Second Quarter results reflect the strength and resilience of our company where we saw continued year-over-year growth despite the challenging environment caused by the COVID-19 pandemic. Thanks to the tireless work of our colleagues around the world, we continue to successfully navigate the external realities, and we remain focused on our mission of supporting life and health by delivering reliable and comprehensive temperature-controlled supply chain solutions for the life sciences through our innovation, advanced technologies, and global supply chain network.\n\"We now support four (4) commercial cell and gene therapies: KYMRIAH®, YESCARTA®, TECARTUS™ and ZYNTEGLO® along with Lisocabtagene Maraleucel (liso-cel), which was recently validated by the European Medicines Agency (\"EMA\"). \n\"Gilead's Kite renewed our agreement for temperature-controlled supply chain support of their commercial and clinical therapies, and we are in the final stages of renewing our agreement with Novartis in support of its commercial and clinical therapies. Over the past several years, Cryoport's advanced solutions have supported both KYMRIAH® and YESCARTA® through their respective clinical phases and subsequent respective commercial rollouts. The continuance of these partnerships with these pioneers in the regenerative medicine market is important as each extends its life-saving therapies to greater and greate...