Rapid Micro Biosystems up on prelim Q4 results, sterility kit launch date

Rapid Micro Biosystems

10/01/2024 13:40

** Shares of life sciences firm Rapid Micro Biosystems
 RPID.O  rise 3% to $1.04 premarket
    ** Company expects to commercially launch its sterility test
kit by mid-year 2024; also announces prelim Q4 results
    ** The test can detect microbial contamination in a
pharmaceutical product in 12 hours and can take one to three
days to detect all contamination
    ** RPID expects to report Q4 revenue of $6.2 mln to $6.4
mln, vs analysts' estimate of $6.3 mln - LSEG data
    ** Company expects to report total 2023 revenue of $22.4 mln
to $22.6 mln, compared with analysts' estimate of $22.4 mln
    ** Ended 2023 with about $95 mln in cash and investments,
cash runway expected to last at least into the second half of
2026 - RPID 
    ** Stock fell 34.5% in 2023
    

 (Reporting by Sneha  S K)
 ((Sneha.SK@thomsonreuters.com;))