Check out our new Timeline feature to give you the latest updates on all the stocks you follow. Clickhere to set up your Timeline.

Less Ads, More Data, More Tools Register for FREE
Sponsored Content
Don't want ads? Click here
Sponsored Content
Don't want ads? Click here

MaxCyte ups core revenue guidance for 2024 as eyes 2025 cost savings

Mon, 09th Dec 2024 12:29

(Alliance News) - MaxCyte Inc on Monday said the current year has been good for the company as it upgraded its core revenue guidance for 2024 and anticipates cost savings for 2025.

The Rockville, Maryland-based provider of cell engineering platform technologies said it expects on-year core business revenue growth of 6% to 8% for 2024. That is an upgrade from a previous anticipation of core business revenue growth to be between flat and 5%.

For 2023, MaxCyte had reported total core revenue of USD29.8 million, down 25% from USD39.6 million in 2022.

The company continues to expect strategic platform license programme-related revenue of around USD6 million for 2024.

"2024 has been a good year for MaxCyte. We signed six SPL agreements, added a cell therapy industry veteran to the board and outperformed our financial commitments to the investment community. Throughout the year, we have implemented a more focused, and accountable, operating philosophy at MaxCyte, taking important and necessary steps to drive innovation and growth in a capital efficient manner," said Chief Executive Officer Maher Masoud.

MaxCyte shares fell 1.8% to 274.00 pence each on Monday afternoon in London.

By Tom Budszus, Alliance News slot editor

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

Related Shares

More News
12 Feb 2025 10:21

MaxCyte signs SPL deal with TG Therapeutics

(Sharecast News) - MaxCyte announced the signing of a strategic platform licence agreement with TG Therapeutics on Wednesday, granting the biopharmace...

12 Feb 2025 09:30

MaxCyte partners with TG Therapeutics on autoimmune cell therapy

(Alliance News) - MaxCyte Inc on Wednesday said it has signed a strategic platform licence with TG Therapeutics Inc to develop its autoimmune cell the...

30 Jan 2025 16:43

MaxCyte announces acquisition of SeQure Dx

(Sharecast News) - MaxCyte announced on Thursday that it has acquired SeQure Dx, a specialist in on-target and off-target editing assessment services ...

30 Jan 2025 13:55

MaxCyte buys gene therapy analytics firm SeQure Dx

(Alliance News) - MaxCyte Inc on Thursday said it has acquired SeQure Dx Inc, as it looks to improve its gene therapy testing process.

13 Jan 2025 14:34

MaxCyte flags full-year revenue at top end of expectations

(Sharecast News) - Cell-engineering platform technology company MaxCyte said in an update on Friday that it expected core revenue for the fourth quart...

Track Your Investments

Register for FREE

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.