NASHVILLE, Tenn., Jan. 9, 2020 /PRNewswire/ -- Cryoport, Inc.
(NASDAQ: CYRX) (NASDAQ: CYRXW) ("Cryoport"), the world's leading
temperature-controlled logistics company dedicated to the life
sciences industry, today announced preliminary revenue for the
twelve and three-month periods ended December 31, 2019, based upon preliminary
unaudited financial information.
Subject to quarter-end closing adjustments, the Company expects
to report revenue of approximately $33.9
million and $9.2 million for
the twelve and three-month periods ended December 31, 2019, an increase of 73% compared to
$19.6 million and 61% compared to
$5.7 million for the twelve and
three-month periods ended December 31,
2018, respectively.
Cryoport expects to report Biopharma revenue of approximately
$27.0 million and $6.9 million for the twelve and three-month
periods ended December 31, 2019, an
increase of 64% and 41%, compared to $16.5
million and $4.9 million for
the twelve and three-month periods ended December 31, 2018.
"Cryoport experienced strong growth and will report record
revenue for the full-year 2019," stated Jerrell Shelton, Chief Executive Officer of
Cryoport.
"Throughout 2019, Cryoport significantly increased its market
share, adding a net 79 new clinical trials bringing the total
number of clinical trials that we are now supporting to 436, with a
net of 12 being added during the quarter ended December 31, 2019. We achieved these results for
the fourth quarter despite having two high-volume trials fail to
meet their endpoints and several clinical trials pause during the
fourth quarter as they transitioned between phases or as commercial
applications were filed or prepared to be filed.
"The commercial filings represent the potential for new
high-revenue commercial opportunities for Cryoport in 2020 and
beyond. We are excited about our business and confident that 2020
will be another strong year as we expect to be supporting as many
as five new commercial therapies as five of our existing clients
recently filed Biologic License Applications (BLA) or Marketing
Authorization Applications (MAA) for new
therapies. Additionally, from our existing clients, we expect
up to 10 additional commercial filings over the course of the year
in 2020.
"For the full year 2019, we also experienced record revenue from
our commercial agreements supporting Gilead's YESCARTA®
and Novartis' KYMRIAH®. Our third commercial support
program with bluebird bio for the anticipated commercial launch of
ZYNTEGLO™ is slated to begin in early 2020," concluded Mr. Shelton.
Cryoport expects to report its 2019 full-year and fourth quarter
results on March 5, 2020.
About Cryoport, Inc.
Cryoport, Inc. (Nasdaq: CYRX) is the world's premier
provider of temperature-controlled supply chain solutions for the
life sciences industry, serving the Biopharma, Human
Reproductive, 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, support
life-saving advanced therapies and deliver vaccines, protein
producing materials, and IVF treatments 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.