(Alliance News) - MaxCyte Inc on Wednesday said it expects full-year results in its core life sciences business to be ahead of market forecasts.
The cell and gene therapies firm based in the US state of Maryland stated it continues to work on the strategy and future funding of its R&D business CARMA as it noted good progress on enrolment and dosing in its MCY-M11 clinical study.
In July, MaxCyte said CARMA Cell Therapies is expected to be self-funded by the end of 2020.
MCY-M11 is a potential therapy for ovarian cancer and peritoneal mesothelioma.
"We have seen sustained strong growth in our core life sciences business as demand for our next generation gene and cell therapy enabling products continues to expand internationally, despite the issues that Covid-19 has placed around the globe. MaxCyte continues to be uniquely positioned to capitalise on the rapidly growing cell therapy market," says Chief Executive & President Doug Doerfler.
Shares in MaxCyte were trading 7.5% higher at 490.00 pence each on Wednesday morning in London.
By Ife Taiwo; ifetaiwo@alliancenews.com
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MaxCyte (MXCT)