Business
Maravai Lifesciences Reports Fourth Quarter and Full Year 2024 Financial Results
Schedules Conference Call for Thursday, March 20, 2025 SAN DIEGO, March 18, 2025 (GLOBE NEWSWIRE) -- Maravai LifeSciences Holdings, Inc. (Maravai) (NASDAQ:
About this update from Maravai Lifesciences Holdings, Inc.
[{"type":"text","content":"Schedules Conference Call for Thursday, March 20, 2025\nSAN DIEGO, March 18, 2025 (GLOBE NEWSWIRE) -- Maravai LifeSciences Holdings, Inc. (Maravai) (NASDAQ: MRVI), a global provider of life science reagents and services to researchers and biotech innovators, today reported financial results for the fourth quarter and full year ended December 31, 2024, together with other business updates. The company also expects to file its Annual Report on Form 10-K for the year ended December 31, 2024, with the Securities and Exchange Commission today. Upon filing, a copy of the annual report will be available on Maravai’s website, www.maravai.com, by selecting “Investors” and then “SEC Filings.” Key Financial Results: Quarterly revenue of $56.6 million, Net loss of $(46.1) million, and Adjusted EBITDA (non-GAAP) of $(1.1) million; andAnnual revenue of $259.2 million, Net loss of $(259.6) million, and Adjusted EBITDA (non-GAAP) of $35.9 million. Corporate Updates: Appointed healthcare industry veteran R. Andrew Eckert as independent Chairman of the Board; andVoluntarily prepaid $228 million of the Company’s Term Loan using cash on hand. Cash and cash equivalents at December 31, 2024 was $322 million after this payment. Acquisitions and Partnerships: Completed the acquisition of the DNA and RNA business of Officinae Bio, combining its proprietary AI-enabled mRNA design platforms with TriLink BioTechnologies leading DNA and RNA manufacturing capabilities, which is expected to provide customers comprehensive expertise and novel technologies for quick, calculated progression through the sequence-optimization phase and into clinical testing and commercial manufacturing;Acquired assets and intellectual property from Molecular Assemblies, with plans to expand TriLink BioTechnologies’ ability to enable customers to develop next-generation mRNA and CRISPR nucleic acid-based therapies;TriLink BioTechnologies and Aldevron entered into a Non-exclusive License and Supply Agreement for CleanCap® M6, CleanCap® AG 3’OMe, CleanCap® AG, and CleanCap® AU cap analogs for use in Aldevron’s mRNA development and manufacturing services; andTriLink BioTechnologies partnered with VWR, the distributor channel of Avantor, to expand availability of our innovative nucleic acid products to customers across Europe, Middle East, and Africa (EMEA). This distribution partnersh...