MaxCyte Inc - Rockville, Maryland-based provider of cell engineering platform technologies developing "next-generation cell therapeutics" - Net loss widens to USD37.9 million in 2023 from USD23.6 million in 2022, as revenue declines by 6.7% to USD41.3 million from 44.3 million. Core business revenue falls by 25% to USD29.8 million from USD39.6 million, but strategic platform license programme-related revenue more than doubles to USD11.5 million from USD4.6 million. In the fourth quarter alone, revenue is USD15.7 million, up 26% from USD12.4 million a year before, as core business revenue falls by 32% but SPL revenue more than quadruples.
Ends 2023 with 23 active SPL agreements, allowing for more than 160 potential programmes. MaxCyte expects core business revenue to be flat to up 5% in 2024, and it expects USD3 million in SPL revenue. The company had USD211.2 million in cash at the end of December.
"Our pipeline of potential clients remains robust, and we look forward to further expanding our portfolio of SPLs in 2024," Chief Executive Officer Maher Masoud says. "The opportunity in front of us in the cell therapy industry continues to strengthen, and we will focus on executing in 2024 on our goal of being the industry's premier non-viral cell therapy platform."
Current stock price in London: 315.50 pence
12-month change: down 11%
By Tom Waite, Alliance News editor
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MaxCyte (MXCT)