MaxCyte Inc - Rockville, Maryland-based provider of cell engineering platform technologies developing ‘next-generation cell therapeutics’ - Net loss widens to $37.9 million in 2023 from $23.6 million in 2022, as revenue declines by 6.7% to $41.3 million from 44.3 million. Core business revenue falls by 25% to $29.8 million from $39.6 million, but strategic platform license programme-related revenue more than doubles to $11.5 million from $4.6 million. In the fourth quarter alone, revenue is $15.7 million, up 26% from $12.4 million a year before, as core business revenue falls by 32% but SPL revenue more than quadruples.
Ends 2023 with 23 active SPL agreements, allowing for more than 160 potential programmes. MaxCyte expects core business revenue to be flat to up 5% in 2024, and it expects $3 million in SPL revenue. The company had $211.2 million in cash at the end of December.
‘Our pipeline of potential clients remains robust, and we look forward to further expanding our portfolio of SPLs in 2024,’ Chief Executive Officer Maher Masoud says. ‘The opportunity in front of us in the cell therapy industry continues to strengthen, and we will focus on executing in 2024 on our goal of being the industry’s premier non-viral cell therapy platform.’
Current stock price in London: 315.50 pence
12-month change: down 11%
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