REG - MaxCyte, Inc. MaxCyte, Inc. - MXCR - Preliminary Fourth Quarter and Full Year Results

MaxCyteAnnouncement

13/01/2025 08:15

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RNS Number : 0527T  MaxCyte, Inc.  13 January 2025

 

MaxCyte Announces Preliminary Unaudited Fourth Quarter and Full Year 2024
Financial Results

 

ROCKVILLE, MD, January 13, 2025 - MaxCyte, Inc.
(https://protect.checkpoint.com/v2/___https:/maxcyte.com/___.YzJ1OmdpbG1hcnRpbmdyb3VwOmM6bzpkZDk1YjdlNmUwNjcxNDQyNDkwMDMyNDVhNjZjNzdjYTo2OmYwNWQ6Nzc0M2M2OWIzNmM3NGRlZWJjMjVhZTA2Yzg5MTAyODg1ZGU1YjVmNWZmM2RkNGUzNGMyM2NjNjNkMjg0NWI3ZTpwOlQ6Rg)
, (Nasdaq: MXCT; LSE: MXCT), a leading, cell-engineering focused company
providing enabling platform technologies to advance the discovery, development
and commercialization of next-generation cell therapeutics, today provided a
preliminary update on financial results for the fourth quarter and full year
ended December 31, 2024.

 

Preliminary Unaudited Fourth Quarter and Full Year 2024 Results

·    Core revenue in the fourth quarter is expected to be between $8.3
million and $8.5 million, compared to $7.2 million in the fourth quarter of
2023

·    Core revenue for the full year is expected to be between $32.2
million and $32.4 million compared to $29.8 million for fiscal year 2023,
representing 8 to 9% growth

·    SPL program-related revenue and Total Revenue for the fourth quarter
and full year 2024 is expected to be reported in March 2025

 

Total cash, cash equivalents, and investments as of December 31, 2024, is
expected to be approximately $190 million, compared to initial guidance and
updated guidance in December of $175 million and $185 million, respectively,
and compared to December 31, 2023 total cash, cash equivalents, and
investments of $211 million.

 

"MaxCyte reported preliminary core revenue for 2024 at the high end of the
updated guidance range provided. The operating environment in the cell therapy
industry is improving as we move into 2025; and we remain confident in the
opportunity that exists for MaxCyte in the years ahead," said Maher Masoud,
President and CEO of MaxCyte. "In 2024, we increased the number of SPL
customers by six, supported the commercial launch of the first non-viral gene
edited cell therapy product approved by the FDA, and returned to healthy
revenue growth while streamlining operations."

MaxCyte's fourth quarter and full year results are preliminary and unaudited
and subject to change in connection with the completion of MaxCyte's quarterly
and year-end closing processes and the preparation of its audited financial
statements for the quarter and fiscal year ended December 31, 2024. As a
result, these preliminary results may differ from the actual results that will
be reflected in MaxCyte's consolidated financial statements for the quarter
and fiscal year ended December 31, 2024, which are expected to be released in
March 2025 and will be included in MaxCyte's Annual Report on Form 10-K.

 

About MaxCyte

 

At MaxCyte, we pursue cell engineering excellence to maximize the potential of
cells to improve patients' lives. We have spent more than 25 years honing our
expertise by building best-in-class platforms, perfecting the art of the
transfection workflow, and venturing beyond today's processes to innovate
tomorrow's solutions. Our ExPERT™ platform, which is based on our Flow
Electroporation® technology, has been designed to support the rapidly
expanding cell therapy market and can be utilized across the continuum of the
high-growth cell therapy sector, from discovery and development through
commercialization of next-generation, cell-based medicines. The ExPERT family
of products includes: four instruments, the ATx™, STx™, GTx™ and VLx
™; a portfolio of proprietary related processing assemblies or disposables;
and software protocols, all supported by a robust worldwide intellectual
property portfolio. By providing our partners with the right technology
platform, as well as scientific, technical and regulatory support, we aim to
guide them on their journey to transform human health. Learn more at
maxcyte.com
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and follow us on X
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.

 

 

 

MaxCyte Contacts:

 

US IR Adviser

Gilmartin Group

David Deuchler, CFA

+1 415-937-5400

ir@maxcyte.com

 

US Media Relations

Spectrum Science
Jordan Vines
+1 540-629-3137

jvines@spectrumscience.com
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Nominated Adviser and Joint Corporate Broker

Panmure Liberum

Emma Earl / Freddy Crossley

Corporate Broking

Rupert Dearden

+44 (0)20 7886 2500

 

UK IR Adviser

ICR Healthcare

Mary-Jane Elliott

Chris Welsh

+44 (0)203 709 5700

maxcyte@icrhealthcare.com

 

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of
the "safe harbor" provisions of the Private Securities Litigation Reform Act
of 1995.  All statements other than statements of historical facts contained
in this press release, including statements about the Company's preliminary
results of operations, including fourth quarter and full year 2024 total
revenue, core revenue, and SPL program revenue and statements about possible
or assumed future results of operations or financial position., are
forward-looking statements. These statements are inherently uncertain, and
investors are cautioned not to unduly rely on these statements.

 

Risks and uncertainties related to our business are described in greater
detail in Item 1A  of our Annual Report on Form 10-K for the year ended
December 31, 2023, filed with the Securities and Exchange Commission ("SEC")
on March 12, 2024, as well as in discussions of potential risks,
uncertainties, and other important factors in the other filings that we make
with the Securities and Exchange Commission from time to time, including in
our Form 10-Q for the quarter ended September 30, 2024, filed with the SEC on
November 6, 2024. These documents are available through the Investor Menu,
Financials section, under "SEC Filings" on the Investors page of our website
at http://investors.maxcyte.com
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. Any forward-looking statements in this press release are based on our
current beliefs and opinions on the relevant subject based on information
available to us as of the date of such press release, and you should not rely
on forward-looking statements as predictions of future events. We undertake no
obligation to update any forward-looking statements made in this press release
to reflect events or circumstances after the date of this press release or to
reflect new information or the occurrence of unanticipated events, except as
required by law.

 

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