Business
MaxCyte Reports Second Quarter and Half-Year 2021 Financial Results Provides Preliminary 2021 Revenue Projections
GAITHERSBURG, Md., Sept. 13, 2021 (GLOBE NEWSWIRE) -- MaxCyte, Inc., (NASDAQ: MXCT; LSE: MXCT, MXCN), a leading commercial cell engineering company focused on
About this update from Maxcyte, Inc.
[{"type":"text","content":"GAITHERSBURG, Md., Sept. 13, 2021 (GLOBE NEWSWIRE) -- MaxCyte, Inc., (NASDAQ: MXCT; LSE: MXCT, MXCN), a leading commercial cell engineering company focused on providing enabling platform technologies to advance innovative cell-based research as well as next-generation cell therapeutic discovery, development and commercialization, today announced its financial results for its second quarter and six months ended June 30, 2021. Second Quarter & Recent Highlights Total revenue of $7.1 million in the second quarter of 2021, representing 38% growth compared to the same period in 2020Excluding SPL Program-related revenue, revenue from cell therapy customers was $4.8 million for the second quarter, an increase of 59% year-over-year, while revenue from drug discovery customers was $1.8 million in the second quarter, an increase of 60% year-over-year. SPL Program-related revenue was $0.5 million in the second quarter, as compared to $1.0 million for the same period in 2020Signed two new SPL agreements with Celularity, Inc. (Q2) and Sana Biotechnology, Inc. (Q3) for the use of MaxCyte's Flow Electroporation® ExPERT™ platform to advance cellular research and development of cell-based therapiesExpanded Board of Directors with the appointment of Ms. Rekha Hemrajani and Dr. Yasir Al-WakeelCompleted U.S. initial public offering on Nasdaq Global Select Stock Market, raising $201.8 million in gross proceeds “We are pleased to report strong second quarter and half year results driven by growth in instrument revenue and disposable sales to the cell therapy market as our cell therapy partners continue to progress into and through the clinic. We also saw a resurgence of growth in drug discovery customers as new disposables introduced in 2020 have started to gain traction, driving both instrument and disposable sales growth,” said Doug Doerfler, President and CEO of MaxCyte. “Our customer base is expanding and we continue to increase the number of strategic partnerships. We now have 14 SPL agreements covering over 75 potential clinical programs, which is a testament to MaxCyte’s reputation as a leading collaborator for complex cellular engineering. With the proceeds from our IPO in the U.S., MaxCyte is well-positioned to support growing adoption of the ExpertTM platform technology for cellular-based research and next-generation therapeutic development...