IRVINE, Calif., Oct. 9, 2019 /PRNewswire/ -- Cryoport, Inc.
(NASDAQ: CYRX) (NASDAQ: CYRXW) ("Cryoport"), the world's leading
temperature-controlled logistics solutions company dedicated to the
life sciences industry, today announced its Board of Directors has
unanimously authorized a share repurchase program, under which
Cryoport may repurchase up to $15
million of its outstanding common stock.
Jerrell Shelton, Cryoport CEO,
said, "The authorization of the share repurchase program is a
result of our constant focus on shareholder return and effective
capital allocation. The authorization of this repurchase program
demonstrates the Board's confidence in our business model, our
financial performance, and our commitment to delivering value to
our stakeholders. We plan to opportunistically repurchase shares of
our common stock, while maintaining ample liquidity to support our
growth organically and through potential acquisitions."
Repurchases may be made from time to time on the open market or
otherwise, in such quantities, at such prices, and in such manner
as determined by management at its discretion and will depend on a
number of factors, including the market price of Cryoport's common
stock, general market and economic conditions, and applicable legal
requirements. The repurchase program will expire on December 31, 2020 and may be extended, suspended,
modified or discontinued at any time. The company does not expect
to incur debt to fund the share repurchase program.
Upcoming Investor Conferences
Cryoport will be presenting at the following upcoming investor
road shows or conferences:
- SVB Leerink non-deal road show, Texas and California - October
17th-18th, 2019
- ROTH New Industrials & Technology Day, NYC, NY –
November 13th, 2019
- Jefferies LLC Healthcare Conference, London, UK – November
20th - 21st, 2019
- Evercore ISI HealthCONx Conference, Boston, MA – December
4th - 5th, 2019
- SVB Leerink Global Healthcare Conference, NYC, NY –
February 22nd through
25th, 2020
About Cryoport, Inc.
Cryoport, Inc. (Nasdaq: CYRX) is the world's premier provider of
temperature-controlled logistics solutions for the life sciences
industry, serving the Biopharma, Reproductive Medicine and Animal
Health markets. Our mission is to support life and health on earth
by providing reliable and comprehensive solutions for the life
sciences through our advanced technologies, Global Supply Chain
Network and dedicated scientists, technicians and supporting team
of professionals. Through purpose-built proprietary packaging;
information technology; smart, sustainable cold chain logistics;
and biostorage/biobanking services, Cryoport helps its customers
advance life sciences research and deliver vaccines, medicines, IVF
treatments and life-saving advanced therapies in over 100 countries
around the world. For more information, visit www.cryoport.com or
follow @cryoport on Twitter at www.twitter.com/cryoport for
live updates.
Forward Looking Statements
Statements in this news release which are not purely historical,
including statements regarding Cryoport, Inc.'s intentions, hopes,
beliefs, expectations, representations, projections, plans or
predictions of the future are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. It
is important to note that the Company's actual results could differ
materially from those in any such forward-looking statements.
Factors that could cause actual results to differ materially
include, but are not limited to, risks and uncertainties associated
with the effect of changing economic conditions, trends in the
products markets, variations in the Company's cash flow, market
acceptance risks, and technical development risks. The Company's
business could be affected by a number of other factors, including
the risk factors listed from time to time in the Company's SEC
reports including, but not limited to, the Company's 10-K for the
year ended December 31, 2018 filed
with the SEC. The Company cautions investors not to place undue
reliance on the forward-looking statements contained in this press
release. Cryoport, Inc. disclaims any obligation, and does not
undertake to update or revise any forward-looking statements in
this press release.
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SOURCE Cryoport, Inc.