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 $29.8 million, down 25% from $39.6 million in 2022.
The company continues to expect strategic platform license programme-related revenue of around $6 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.
Copyright 2024 Alliance News Ltd. All Rights Reserved.
