Maravai LifeSciences Holdings, Inc. (Maravai) (NASDAQ:
MRVI), a global provider of life science reagents and
services to researchers and biotech innovators, today reported
financial results for the third quarter ended September 30,
2021, together with other business updates. Highlights include:
- Revenue increased
133% to $204.8 million for the third quarter;
- Net income of $132.8 million for
the third quarter, representing growth of 240% over the prior
year;
- 2021 revenue guidance increased to
a range of $770.0 million to $780.0 million;
- Established initial 2022 revenue
guidance range of $840.0 million to $880.0 million;
- Closed the previously announced
divestiture of Protein Detection business segment to Thompson
Street Capital Partners; and
- Published inaugural Environmental,
Social and Governance Report.
"We continue to see very strong momentum across
our end markets. We are, once again, increasing our 2021 guidance
and establishing initial revenue guidance for 2022,” said Carl
Hull, Chairman and CEO. “Our preliminary 2022 total revenue
guidance represents growth of 11% and 14% at the midpoints, before
and after adjusting for the divestiture of our Protein Detection
Business. This overall increase in 2022 includes strong continued
growth in our core Nucleic Acid Production and Biologics Safety
Testing businesses, as well as a further increase of 5% to 10% over
2021 levels in COVID-19 related CleanCap® demand for vaccine
programs.”
Hull added, “We are also pleased to have issued
our first Environmental, Social and Governance Report and look
forward to advancing how we integrate ESG priorities into our
operating decisions.”
Revenue for the Third Quarter and Year
to Date 2021
|
Three Months Ended September 30, |
|
2021 |
|
2020 |
|
Year-over-Year % Change |
Nucleic Acid Production |
$ |
182,901 |
|
$ |
67,656 |
|
170.3 |
|
% |
Biologics Safety Testing |
16,626 |
|
14,114 |
|
17.8 |
|
% |
Protein Detection |
5,283 |
|
6,089 |
|
(13.2 |
) |
% |
Total Revenue |
$ |
204,810 |
|
$ |
87,859 |
|
133.1 |
|
% |
|
Nine Months Ended September 30, |
|
2021 |
|
2020 |
|
Year-over-Year % Change |
Nucleic Acid Production |
$ |
499,354 |
|
$ |
128,569 |
|
288.4 |
% |
Biologics Safety Testing |
52,483 |
|
40,772 |
|
28.7 |
% |
Protein Detection |
18,959 |
|
16,404 |
|
15.6 |
% |
Total Revenue |
$ |
570,796 |
|
$ |
185,745 |
|
207.3 |
% |
Third Quarter Fiscal 2021 Financial Results
Revenue for the third quarter was $204.8
million, representing a 133% increase over the same period in the
prior year and was driven by the following:
- Nucleic Acid
Production revenue was $182.9 million for the third quarter,
representing a 170% increase year-over-year. The increase in
Nucleic Acid Production revenue was the result of continued strong
demand for our proprietary CleanCap® analogs as COVID-19 vaccine
manufacturers scaled production and increased demand for mRNA
products as this technology becomes incorporated into more
therapeutic and vaccine programs.
- Biologic Safety
Testing revenue was $16.6 million for the third quarter,
representing an 18% increase year-over-year. Due to the breadth of
our global product offerings supporting cell and gene therapies,
biosimilars and biologics development programs, there continues to
be strong demand for our products.
- Protein Detection
revenue was $5.3 million for the third quarter, representing a 13%
decrease year-over-year. The decrease was primarily due to the sale
of Vector Laboratories, Inc. (Vector), which was completed in early
September.
Net income and Adjusted EBITDA (non-GAAP) were
$132.8 million and $156.0 million, respectively, for the third
quarter of 2021, compared to $39.0 million and $57.8 million for
the third quarter of the prior year.
Nine Months Ended September 30, 2021
Financial Results
Revenue for the nine months ended
September 30, 2021 was $570.8 million, representing a 207%
increase over the same period in the prior year and was driven by
the following:
- Nucleic Acid
Production revenue was $499.4 million for the nine months ended
September 30, 2021, representing a 288% increase
year-over-year.
- Biologic Safety
Testing revenue was $52.5 million for the nine months ended
September 30, 2021, representing a 29% increase
year-over-year.
- Protein Detection
revenue was $19.0 million for the nine months ended
September 30, 2021, representing a 16% increase
year-over-year.
Net income and Adjusted EBITDA (non-GAAP) were
$343.0 million and $422.7 million, respectively, for the nine
months ended September 30, 2021, compared to $64.3 million and
$104.8 million for the same period last year.
Environmental, Social and Governance
Report
The Company has published its inaugural
Environmental, Social and Governance (ESG) Report, which highlights
the Company’s commitment to a sustainable and equitable impact for
its various stakeholders.
The ESG report highlights global efforts in four
key areas: Environment, Human Capital, Business Model and
Innovation and Community Relations. The full report is available on
the Investor Relations section of the Maravai website at:
https://investors.maravai.com/esg.
Updated Financial Guidance for
2021
Our updated financial guidance for the full year
2021 is based on expectations for our existing business and does
not include the financial impact of potential new acquisitions, if
any, or items that have not yet been identified or quantified.
Guidance does include revenue contribution from our Protein
Detection business from January 2021 through the closing of the
sale to Thompson Street Capital Partners, which occurred in the
third quarter of 2021.
Total revenue for 2021 is projected to be in the
range of $770.0 million to $780.0 million, reflecting overall
growth of 171% to 175%.
Adjusted EBITDA (non-GAAP) is expected to be in
the range of $570.0 million to $575.0 million.
Adjusted fully diluted EPS (non-GAAP) is
expected to be in the range of $1.48 - $1.52 per share. Adjusted
fully diluted EPS (non-GAAP) is based on the assumption that all
the units of Maravai Topco Holdings, LLC (paired with the
corresponding shares of Class B common stock) are converted to
Class A shares. The net income included in the Adjusted fully
diluted EPS (non-GAAP) has been adjusted to eliminate the net
income attributable to non-controlling interest as a result of the
assumed full conversion of the units of Maravai Topco Holdings, LLC
(paired with the corresponding shares of Class B common stock) for
shares of Class A common stock and is further adjusted for certain
items that we do not believe directly reflect our core operations.
All such adjustments have been tax effected at the midpoint of an
assumed statutory tax rate range of 23% to 24%.
Maravai cannot provide guidance for the most
closely comparable GAAP measures or reconciliations for the
non-GAAP financial measures included in the updated 2021 guidance
above because we are unable to provide a meaningful or accurate
calculation or estimation of certain reconciling items without
unreasonable effort. This is due to the inherent difficulty in
forecasting and quantifying certain amounts that are necessary for
such reconciliation, including net income attributable to
noncontrolling interest, variations in effective tax rate, expenses
to be incurred for acquisition activities, and the diluted weighted
average number of shares of Class A common stock outstanding for
the applicable period from potential proforma exchanges of
outstanding Maravai Topco Holdings, LLC units (paired with shares
of Class B common stock) for shares of Class A common stock. Thus,
we are unable to present a quantitative reconciliation of the
aforementioned forward-looking non-GAAP financial measures to their
most directly comparable forward-looking GAAP financial measures
because such information is not available. However, 2021 interest
expense is expected to be in the range of $34.0 million to $35.0
million, 2021 depreciation and amortization is expected to be in
the range of $28.0 million to $29.0 million, and 2021 equity-based
compensation is expected to be in the range of $11.0 million to
$12.0 million.
Preliminary Revenue Guidance for
2022
Maravai is providing preliminary revenue
guidance for 2022. This guidance for the full year 2022 is based on
expectations for our existing business and does not include the
financial impact of potential new acquisitions, if any, or items
that have not yet been identified or quantified.
Total revenue for 2022 is projected to be in the
range of $840.0 million to $880.0 million, reflecting
overall growth at the midpoints of 11% and 14% before and after
adjusting for the divestiture of our Protein Detection Business,
respectively.
MARAVAI LIFESCIENCES HOLDINGS,
INC.
CONSOLIDATED STATEMENTS OF
INCOME(Unaudited)(in thousands, except per share and per
unit amounts)
|
Three Months EndedSeptember
30, |
|
Nine Months EndedSeptember
30, |
|
2021 |
|
2020 |
|
2021 |
|
2020 |
Revenue |
$ |
204,810 |
|
|
$ |
87,859 |
|
|
$ |
570,796 |
|
|
$ |
185,745 |
|
Operating
expenses |
|
|
|
|
|
|
|
Cost of revenue |
32,047 |
|
|
19,760 |
|
|
99,928 |
|
|
56,254 |
|
Research and development |
1,950 |
|
|
1,868 |
|
|
6,046 |
|
|
7,212 |
|
Selling, general and administrative |
25,189 |
|
|
20,510 |
|
|
72,511 |
|
|
52,624 |
|
Gain on sale of business |
(11,249 |
) |
|
— |
|
|
(11,249 |
) |
|
— |
|
Gain on sale and leaseback transaction |
— |
|
|
— |
|
|
— |
|
|
(19,002 |
) |
Total operating expenses |
47,937 |
|
|
42,138 |
|
|
167,236 |
|
|
97,088 |
|
Income from operations |
156,873 |
|
|
45,721 |
|
|
403,560 |
|
|
88,657 |
|
Other income
(expense) |
|
|
|
|
|
|
|
Interest expense |
(8,545 |
) |
|
(7,089 |
) |
|
(25,827 |
) |
|
(21,934 |
) |
Change in payable to related parties pursuant to the Tax Receivable
Agreement |
3,246 |
|
|
— |
|
|
9,132 |
|
|
— |
|
Other income |
78 |
|
|
32 |
|
|
78 |
|
|
132 |
|
Income before income
taxes |
151,652 |
|
|
38,664 |
|
|
386,943 |
|
|
66,855 |
|
Income tax expense
(benefit) |
18,842 |
|
|
(359 |
) |
|
43,937 |
|
|
2,511 |
|
Net
income |
132,810 |
|
|
39,023 |
|
|
343,006 |
|
|
64,344 |
|
Net income attributable to
noncontrolling interests |
78,536 |
|
|
73 |
|
|
216,410 |
|
|
582 |
|
Net income
attributable to Maravai LifeSciences Holdings, Inc. |
$ |
54,274 |
|
|
$ |
38,950 |
|
|
$ |
126,596 |
|
|
$ |
63,762 |
|
|
|
|
|
|
|
|
|
Net income per
share/unit attributable to Maravai LifeSciences Holdings,
Inc.: |
|
|
|
|
|
|
|
Basic |
$ |
0.46 |
|
|
$ |
0.12 |
|
|
$ |
1.16 |
|
|
$ |
0.21 |
|
Diluted |
$ |
0.45 |
|
|
$ |
0.12 |
|
|
$ |
1.14 |
|
|
$ |
0.21 |
|
|
|
|
|
|
|
|
|
Weighted average
number of shares/units outstanding: |
|
|
|
|
|
|
|
Basic |
118,433 |
|
|
253,917 |
|
|
109,174 |
|
|
253,917 |
|
Diluted |
258,028 |
|
|
253,917 |
|
|
257,799 |
|
|
253,917 |
|
|
|
|
|
|
|
|
|
|
|
|
|
MARAVAI LIFESCIENCES HOLDINGS,
INC.
RECONCILIATION OF NON-GAAP FINANCIAL
INFORMATION(Unaudited)(in thousands, except per share
amounts)
Net Income to
Adjusted EBITDA |
|
|
|
|
|
Three Months EndedSeptember
30, |
|
Nine Months EndedSeptember
30, |
|
2021 |
|
2020 |
|
2021 |
|
2020 |
Net income |
$ |
132,810 |
|
|
$ |
39,023 |
|
|
$ |
343,006 |
|
|
$ |
64,344 |
|
Add: |
|
|
|
|
|
|
|
Amortization |
4,604 |
|
|
5,040 |
|
|
14,685 |
|
|
15,156 |
|
Depreciation |
2,472 |
|
|
1,631 |
|
|
6,623 |
|
|
4,756 |
|
Interest Expense |
8,545 |
|
|
7,089 |
|
|
25,827 |
|
|
21,934 |
|
Income tax expense
(benefit) |
18,842 |
|
|
(359 |
) |
|
43,937 |
|
|
2,511 |
|
EBITDA |
167,273 |
|
|
52,424 |
|
|
434,078 |
|
|
108,701 |
|
Acquisition integration costs
(1) |
21 |
|
|
(14 |
) |
|
(777 |
) |
|
3,588 |
|
Amortization of lease facility
financing obligation (2) |
(1,031 |
) |
|
— |
|
|
(2,080 |
) |
|
— |
|
Acquired in-process research
and development costs (3) |
— |
|
|
— |
|
|
— |
|
|
2,881 |
|
Equity-based compensation
(4) |
3,567 |
|
|
1,849 |
|
|
8,228 |
|
|
2,933 |
|
GTCR management fee (5) |
— |
|
|
126 |
|
|
— |
|
|
555 |
|
Gain on sale of business
(6) |
(11,249 |
) |
|
— |
|
|
(11,249 |
) |
|
— |
|
Gain on sale and leaseback
transaction (7) |
— |
|
|
— |
|
|
— |
|
|
(19,002 |
) |
Merger and acquisition related
expenses (income) (8) |
(366 |
) |
|
124 |
|
|
1,550 |
|
|
218 |
|
Financing costs (9) |
1,034 |
|
|
3,266 |
|
|
2,038 |
|
|
4,966 |
|
Tax receivable agreement
liability adjustment (10) |
(3,246 |
) |
|
— |
|
|
(9,132 |
) |
|
— |
|
Adjusted EBITDA |
$ |
156,003 |
|
|
$ |
57,775 |
|
|
$ |
422,656 |
|
|
$ |
104,840 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted Net
Income and Adjusted Net Income per Diluted Share |
|
|
|
|
|
Three Months EndedSeptember
30, |
|
Nine Months EndedSeptember
30, |
|
2021 |
|
2020 |
|
2021 |
|
2020 |
Net income attributable to Maravai LifeSciences Holdings, Inc. |
$ |
54,274 |
|
|
* |
|
$ |
126,596 |
|
|
* |
Net income impact from pro
forma conversion of Class B shares to Class A common shares |
78,536 |
|
|
* |
|
216,410 |
|
|
* |
Adjustment to the provision
for income tax (11) |
(17,748 |
) |
|
* |
|
(50,393 |
) |
|
* |
Tax-effected net income |
115,062 |
|
|
* |
|
292,613 |
|
|
* |
Acquisition integration costs
(1) |
21 |
|
|
* |
|
(777 |
) |
|
* |
Amortization of lease facility
financing obligation (2) |
(1,031 |
) |
|
* |
|
(2,080 |
) |
|
* |
Equity-based compensation
(4) |
3,567 |
|
|
* |
|
8,228 |
|
|
* |
Gain on sale of business
(6) |
(11,249 |
) |
|
* |
|
(11,249 |
) |
|
* |
Merger and acquisition related
expenses (8) |
(366 |
) |
|
* |
|
1,550 |
|
|
* |
Financing costs (9) |
1,034 |
|
|
* |
|
2,038 |
|
|
* |
Tax receivable agreement
liability adjustment (10) |
(3,246 |
) |
|
* |
|
(9,132 |
) |
|
* |
Deferred tax expense related
to historical exchanges (12) |
844 |
|
|
* |
|
5,424 |
|
|
* |
Deferred tax expense related
to assets held for sale (13) |
2,610 |
|
|
* |
|
(212 |
) |
|
* |
Tax impact of adjustments
(14) |
(64 |
) |
|
* |
|
307 |
|
|
* |
Foreign-derived intangible
income cash tax benefit (15) |
3,779 |
|
|
* |
|
3,779 |
|
|
* |
Net cash tax benefit retained
from historical exchanges (16) |
1,566 |
|
|
* |
|
3,821 |
|
|
* |
Adjusted net
income |
$ |
112,527 |
|
|
* |
|
$ |
294,310 |
|
|
* |
|
|
|
|
|
|
|
|
Diluted weighted
average shares of Class A common stock outstanding |
258,028 |
|
|
* |
|
257,800 |
|
|
* |
|
|
|
|
|
|
|
|
Adjusted net income |
$ |
112,527 |
|
|
* |
|
$ |
294,310 |
|
|
* |
Adjusted fully diluted
EPS |
$ |
0.44 |
|
|
* |
|
$ |
1.14 |
|
|
* |
____________________
Explanatory
Notes to Reconciliations |
(*) Information
not presented for Pre-IPO period. |
(1) |
Refers to incremental costs incurred to execute and integrate
completed acquisitions. |
(2) |
Refers to cash rent paid for our
Wateridge San Diego, CA facility, which is recorded as a reduction
to the financing lease obligation. |
(3) |
Refers to in-process research and
development charge associated with the acquisition of MockV
Solutions, Inc. |
(4) |
Refers to non-cash expense
associated with equity-based compensation. |
(5) |
Refers to cash fees paid to GTCR,
LLC (“GTCR”), pursuant to the advisory services agreement that was
terminated in connection with our IPO. |
(6) |
Refers to the gain on the sale of
Vector, which was completed in September 2021. |
(7) |
Refers to the gain on the sale of
our Burlingame, California facility, which was leased back to the
Company in 2020. |
(8) |
Refers to diligence, legal,
accounting, tax and consulting fees incurred associated with
acquisitions that were not consummated. This also includes $0.9
million of deferred gain associated with our sale leaseback
arrangement for our Burlingame, California facility, which was
accelerated as part of our divestiture of the Protein Detection
segment in September 2021. |
(9) |
Refers to transaction costs
related to our IPO and the refinancing of our long-term debt that
are not capitalizable or cannot be offset against proceeds from
such transactions. |
(10) |
Refers to the loss (gain) related
to the adjustment of our tax receivable agreement liability
primarily due to changes in our estimated state apportionment and
the corresponding reduction of our estimated state tax rate. |
(11) |
Represents additional corporate
income taxes at an assumed effective tax rate of 23.65% applied to
additional net income attributable to Maravai LifeSciences
Holdings, Inc. from the assumed proforma exchange of all
outstanding Class B common stock for shares of Class A common
stock. |
(12) |
Refers to deferred tax expense
(benefit) related to the adjustment of our deferred tax asset
primarily due to changes in our estimated state apportionment and
the corresponding reduction of our estimated state tax rate, as
well as increases in Maravai LifeSciences Holdings, Inc.’s
ownership in Maravai Topco Holdings, LLC. |
(13) |
Refers to deferred tax expense
(benefit) in connection with the sale of Vector, which was
completed in September 2021. |
(14) |
Represents income tax impact of
non-GAAP adjustments and assumed proforma exchange of all
outstanding Class B common stock for shares of Class A common stock
at an assumed effective tax rate of 23.65%. |
(15) |
Represents tax benefits from
additional tax deductions at Maravai LifeSciences Holdings, Inc.
related to its share of foreign-derived intangible income from
Maravai Topco Holdings, LLC. |
(16) |
Represents tax benefits due to
the amortization of intangible assets and other tax attributes
resulting from the tax basis step up associated with the purchase
or exchange of Maravai Topco Holdings, LLC units and Class B common
stock, net of payment obligations under the tax receivable
agreement. |
|
|
Non-GAAP Financial
Information
This press release contains financial measures
that have not been calculated in accordance with accounting
principles generally accepted in the U.S. (GAAP). These non-GAAP
measures include: Adjusted EBITDA, and Adjusted fully diluted
Earnings Per Share (EPS).
We define Adjusted EBITDA as net income before
interest, taxes, depreciation and amortization and adjustments to
exclude, as applicable: (i) incremental costs incurred to execute
and integrate completed acquisitions; (ii) amortization of lease
facility financing obligations; (iii) charges for in-process
research and development associated with completed acquisitions;
(iv) non-cash expenses related to share-based compensation; (v)
gain on sale of business; (vi) gain on sale and leaseback
transaction; (vii) expenses incurred for acquisitions that were not
consummated (including legal, accounting and professional
consulting services); (viii) transaction costs incurred for the
initial public offering and debt refinancing; (ix) GTCR management
fees; and (x) loss (income) recognized during the applicable period
due to changes in the tax receivable agreement liability. We define
Adjusted Net Income as tax-effected earnings before the adjustments
described above, and the tax effects of those adjustments. We
define Adjusted Diluted EPS as Adjusted Net Income divided by the
diluted weighted average number of Class A common stock outstanding
for the applicable period, which assumes the proforma exchange of
all outstanding units of Maravai Topco Holdings, LLC (paired with
shares of Class B common stock) for shares of Class A common
stock.
These non-GAAP measures are supplemental
measures of operating performance that is not prepared in
accordance with GAAP and that does not represent, and should not be
considered as, an alternative to net income, as determined in
accordance with GAAP.
We use these non-GAAP measures to understand and
evaluate our core operating performance and trends and to develop
short-term and long-term operating plans. We believe the measures
facilitate comparison of our operating performance on a consistent
basis between periods and, when viewed in combination with our
results prepared in accordance with GAAP, helps provide a broader
picture of factors and trends affecting our results of
operations.
These non-GAAP financial measures have
limitations as an analytical tool, and you should not consider it
in isolation, or as a substitute for analysis of our results as
reported under GAAP. Because of these limitations, they should not
be considered as a replacement for net income, as determined by
GAAP, or as a measure of our profitability. We compensate for these
limitations by relying primarily on our GAAP results and using
non-GAAP measures only for supplemental purposes. The non-GAAP
financial measures should be considered supplemental to, and not a
substitute for, financial information prepared in accordance with
GAAP.
Conference Call and Webcast
Maravai’s management will host a conference call
today at 2:00 p.m. PT/5:00 p.m. ET to discuss its financial results
for the third quarter of fiscal year 2021. Approximately 10 minutes
before the call, dial (833) 693-0536 or (661) 407-1576 and enter
the conference ID number 9136747. For 72 hours following the call,
an audio replay can be accessed by dialing (855) 859-2056 or (404)
537-3406 and using the conference number above. The call will also
be available via live or archived webcast on the "Investors"
section of the Maravai web site at
https://investors.maravai.com/.
About Maravai
Maravai is a leading life sciences company
providing critical products to enable the development of drug
therapies, diagnostics and novel vaccines and to support research
on human diseases. Maravai’s companies are leaders in providing
products and services in the fields of nucleic acid synthesis and
biologic safety testing to many of the world's leading
biopharmaceutical, vaccine, diagnostics, and cell and gene therapy
companies.
For more information about Maravai LifeSciences,
visit www.maravai.com.
Forward-looking Statements
This press release contains, and our officers
and representatives may from time-to-time make, “forward-looking
statements” within the meaning of the safe harbor provisions of the
U.S. Private Securities Litigation Reform Act of 1995. Investors
are cautioned that statements in this press release which are not
strictly historical statements constitute forward-looking
statements, including, without limitation, statements regarding our
financial guidance for 2021, our preliminary guidance for 2022, the
strength of our business momentum and expectations for continued
robust growth in our Nucleic Acid Production business, the effects
of the sale of our Protein Detection business, the increases in
capacity and operational expansion expected to result from new and
additional facilities, constitute forward-looking statements and
are identified by words like “believe,” “expect,” “may,” “will,”
“should,” “seek,” “anticipate,” or “could” and similar
expressions.
Forward-looking statements are neither
historical facts nor assurances of future performance. Instead,
they are based only on our current beliefs, expectations and
assumptions regarding the future of our business, future plans and
strategies, projections, anticipated events and trends, the economy
and other future conditions. Because forward-looking statements
relate to the future, they are subject to inherent uncertainties,
risks and changes in circumstances that are difficult to predict
and many of which are outside of our control. Our actual results
and financial condition may differ materially from those indicated
in the forward-looking statements. Therefore, you should not rely
on any of these forward-looking statements. Important factors that
could cause our actual results and financial condition to differ
materially from those indicated in the forward-looking statements
include, among others, the following:
- Certain of our
products are used by customers in the production of vaccines and
therapies, some of which represent relatively new and
still-developing modes of treatment. Unforeseen adverse events,
negative clinical outcomes, or increased regulatory scrutiny of
these vaccines and therapies and their financial cost may damage
public perception of the safety, utility, or efficacy of these
vaccines and therapies or other modes of treatment and may harm our
customers’ ability to conduct their business. Such events may
negatively impact our revenue and have an adverse effect on our
performance.
- We compete with life science,
pharmaceutical and biotechnology companies who are substantially
larger than we are and potentially capable of developing new
approaches that could make our products, services and technology
obsolete.
- We depend on a limited number of
customers for a high percentage of our revenue. If we cannot
maintain our current relationships with customers, fail to sustain
recurring sources of revenue with our existing customers, or if we
fail to enter into new relationships, our future operating results
will be adversely affected.
- We rely on a limited number of
suppliers or, in some cases, sole suppliers, for some of our raw
materials and may not be able to find replacements or immediately
transition to alternative suppliers.
- Such other factors as discussed
throughout the “Risk Factors” section of our Annual Report on Form
10-K for the year ended December 31, 2020, as well as other
documents on file with the Securities and Exchange Commission.
Any forward-looking statement made by us in this
release is based only on information currently available to us and
speaks only as of the date on which it is made. We undertake no
obligation to publicly update any forward-looking statement,
whether written or oral, that may be made from time to time,
whether as a result of new information, future developments or
otherwise.
Contact Information:
Media Contact: Sara Michelmore
MacDougall
+1 781-235-3060
maravai@macbiocom.com
Investor Contact: Deb Hart
Maravai LifeSciences
+ 1 858-988-5917
ir@maravai.com
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