Revenue Growth - Cryoport reported Q3 2020 revenue of $122 million from Novartis's KYMRIAH® compared to $79 million for Q3 2019, reflecting a 54% year-over-year increase[220]. - Kite Pharmaceuticals generated $138 million in Q3 2020 revenue from YESCARTA®, down from $156 million in Q2 2020[221]. - Revenues increased by $1.6 million or 16.6% to $11.2 million for the three months ended September 30, 2020, compared to $9.6 million for the same period in 2019[234]. - Biopharmaceutical revenue rose by $953,200 or 12.8% to $8.4 million, driven by an increase in the number of biopharmaceutical customers and clinical trials supported[235]. - Revenues increased by $5.6 million or 22.8% to $30.3 million for the nine months ended September 30, 2020, driven by increased biopharmaceutical customer utilization and clinical trials supported[244]. - Biopharmaceutical revenue rose by $3.2 million or 15.7% to $23.2 million for the nine months ended September 30, 2020, with 84 new biopharma clients added[244]. Client and Trial Expansion - As of September 30, 2020, Novartis has qualified 260 treatment centers in over 26 countries for KYMRIAH®[220]. - Kite Pharmaceuticals had 180 certified centers authorized to treat patients globally as of Q3 2020[221]. - The company added approximately 34 new biopharma clients and 26 clinical trials during the three months ended September 30, 2020, bringing the total to 517 clinical trials[235]. - The number of clinical trials supported increased to 517 as of September 30, 2020, compared to 425 trials supported as of September 30, 2019[245]. Financial Performance - Gross margin improved to 54.2% of revenues for the three months ended September 30, 2020, up from 48.3% in the same period in 2019[238]. - Gross margin improved to 54.2% of revenues for the nine months ended September 30, 2020, up from 50.3% in the same period in 2019, due to increased business volume and pricing adjustments[248]. - The net loss for the three months ended September 30, 2020, was $11.4 million, a decrease of $1.1 million or 8.4% compared to the net loss of $12.5 million in the same period in 2019[234]. - General and administrative expenses increased by $1.4 million or 15.1% due to consulting and legal services related to strategic initiatives and increased employee costs[239]. - General and administrative expenses rose by $5.2 million or 34.1% for the nine months ended September 30, 2020, primarily due to consulting and legal services related to strategic initiatives[249]. - Interest expense increased by $561,200 for the nine months ended September 30, 2020, due to the issuance of 3% senior convertible notes in May 2020[252]. Operational Developments - Cryoport's acquisition of Cryogene expanded its biostorage capabilities, providing a cGMP compliant temperature-controlled sample management solution from a 21,000 square foot facility in Houston, Texas[213]. - The company supports three largest integrators globally, including FedEx, DHL, and UPS, enhancing its logistics solutions for the life sciences industry[215]. - Cryoport's Advanced Therapy Shippers™ were launched to ensure traceability and minimize contamination risks for human-based therapies[212]. - Cryoport's logistics management platform, Cryoportal®, provides real-time monitoring and compliance documentation for shipments[211]. - The company aims to redefine logistics in life sciences by integrating temperature-controlled logistics, bioservices, and end-product fulfillment[218]. - Bluebird bio is expected to treat its first commercial patients in Germany in Q4 2020, supported by Cryoport's logistics solutions[222]. Market Performance - Revenues in the reproductive medicine market surged by $453,300 or 61.6% to $1.2 million, attributed to the resumption of operations in fertility clinics[236]. - Global Bioservices revenue increased by $178,500 or 15.3% to $1.3 million, driven by new client onboarding[236]. - Global Bioservices revenue was $3.9 million for the first nine months of 2020, attributed to the acquisition of the Cryogene business in May 2019[246]. - Cost of revenues rose by $160,600 or 3.2% to $5.1 million, mainly due to increased freight charges from higher shipment volumes[238]. Cash Position - The company had cash and cash equivalents of $162.0 million and $41.0 million in short-term investments as of September 30, 2020[254]. - Net cash provided by financing activities totaled $119.1 million during the nine months ended September 30, 2020, primarily from the issuance of convertible senior notes[259]. Expense Management - Sales and marketing expenses decreased by $2.3 million or 38.2%, primarily due to a reduction in stock compensation expense[240]. - Engineering and development expenses increased by $3.3 million or 124.3% for the nine months ended September 30, 2020, compared to the same period in 2019, primarily due to a $3.1 million increase in consulting expenses[251].

Revenue Growth - Cryoport reported Q2 2020 revenue of $118 million from Novartis's KYMRIAH® compared to $58 million for Q2 2019, indicating a 103% year-over-year increase[195]. - Kite Pharmaceuticals reported Q1 2020 revenue of $140 million from YESCARTA® compared to $96 million for Q1 2019, reflecting a 46% increase[196]. - Revenues increased by $925,400 or 10.9% to $9.4 million for the three months ended June 30, 2020, compared to $8.5 million for the same period in 2019[210]. - Revenues increased by $4.0 million or 26.8% to $19.1 million for the six months ended June 30, 2020, compared to $15.1 million for the same period in 2019[221]. Biopharmaceutical Revenue - Biopharmaceutical revenue rose by $324,800 or 4.7% to $7.3 million, driven by an increase in the number of biopharmaceutical customers and clinical trials supported[212]. - Biopharmaceutical revenue rose by $2.2 million or 17.5% to $14.8 million, driven by an increase in the number of biopharmaceutical customers and clinical trials supported[221]. Clinical Trials and Clients - The company added approximately 12 new biopharma clients and 26 clinical trials during the three months ended June 30, 2020[210]. - The number of clinical trials supported increased to 491 as of June 30, 2020, compared to 413 as of June 30, 2019[212]. - The company added approximately 45 new biopharma clients and 55 clinical trials, increasing total supported clinical trials to 491 as of June 30, 2020[223]. Gross Margin - Gross margin improved to 54.6% of revenues for Q2 2020, up from 51.3% in Q2 2019, due to increased business volume and pricing adjustments[213]. - Gross margin improved to 54.2% of revenues for the six months ended June 30, 2020, up from 51.5% in the same period in 2019[224]. Expenses - General and administrative expenses surged by $2.5 million or 75.9% for Q2 2020, primarily due to consulting and legal services for acquisition-related activities[214]. - General and administrative expenses increased by $3.8 million or 63.9% due to acquisition-related activities and increased employee costs[225]. - Engineering and development expenses increased by $1.4 million or 259.8% for Q2 2020, reflecting investments in enhancing logistics solutions[217]. - Engineering and development expenses surged by $2.6 million or 257.0%, primarily due to consulting expenses aimed at enhancing logistics solutions[227]. Cash and Financing - Cash and cash equivalents stood at $44.3 million, with total working capital of $207.2 million as of June 30, 2020[231]. - Net cash used in investing activities was $119.6 million, mainly due to the purchase of short-term investments and software development costs[233]. - Net cash provided by financing activities totaled $117.0 million, primarily from the issuance of convertible senior notes[234]. Strategic Alliances and Logistics - Cryoport's acquisition of Cryogene expanded its biostorage capabilities, providing a cGMP compliant temperature-controlled sample management solution from a 21,000 square foot facility in Houston, Texas[188]. - The company supports the three largest integrators in the world—FedEx, DHL, and UPS—with advanced cryogenic logistics solutions[190]. - Cryoport's Advanced Therapy Shippers™ are designed for human-based therapies, ensuring traceability and minimizing cross-contamination risks[187]. - Cryoport's logistics management platform, Cryoportal®, provides real-time monitoring and a fully documented history of shipments, enhancing regulatory compliance[186]. - The company has established strategic alliances with key players in the logistics and life sciences industries to enhance service integration[189]. - Cryoport's solutions are utilized for shipping and storage of various life sciences commodities, including CAR-T therapies, vaccines, and stem cells[194]. Future Outlook - The company anticipates continued growth driven by the acceleration of clinical trials and commercialization of regenerative medicine therapies globally[188]. - Interest expense rose by $64,300 for Q2 2020 due to the issuance of 3% convertible senior notes in May 2020[218]. - Other income, net increased by $371,300 for Q2 2020, driven by gains on equity securities and investment income[219].

Financial Data and Key Metrics Changes - The company reported revenue of $9.4 million for Q2 2020, an increase of 11% compared to Q2 2019 [11] - Revenue from commercial agreements with Gilead's YESCARTA and Novartis' KYMRIAH contributed $2.6 million, representing a 38% increase year-over-year [11] - Bioservices revenue increased to $1.3 million from $600,000 in the previous year, attributed to the acquisition of Cryogene [11] Business Line Data and Key Metrics Changes - Despite 56 clinical trials being suspended due to the COVID-19 pandemic, only three remained suspended by the end of Q2 2020, indicating a recovery in clinical trial activities [12] - The company continues to support four commercial regenerative therapies, with the recent FDA approval of TECARTUS by Gilead's Kite [13] Market Data and Key Metrics Changes - The company signed a new partnership with Medipal Holdings to enhance its distribution capabilities in the APAC region, indicating growth potential in that market [15] - The life sciences industry is experiencing momentum, with increasing demand for temperature control supply chain solutions [13] Company Strategy and Development Direction - The company aims to strengthen its leadership position in the temperature control supply chain for the life sciences industry through innovation and advanced technologies [14] - A successful convertible debt offering of $111 million has bolstered the company's balance sheet, providing flexibility for future investments and acquisitions [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of the company despite the challenges posed by the COVID-19 pandemic, emphasizing a commitment to supporting life and health [10] - The company anticipates continued growth in cellular and gene therapy trials, with more commercial therapies expected to enter the market [54] Other Important Information - The company is actively involved in drafting transportation standards for cell therapy, which may create a higher barrier to entry for competitors [40] Q&A Session Summary Question: What is the outlook for the commercial business in the second half of the year and into 2021? - Management expects revenue from TECARTUS to ramp up faster than YESCARTA or KYMRIAH, with nominal revenue from ZYNTEGLO anticipated in 2021 [20] Question: Will Cryoport participate in the rollout of COVID-19 vaccines? - The logistics support for COVID-19 vaccines is still in a fluid state, and while the company aims to be involved, specifics cannot be disclosed at this time [22] Question: How does increased capital funding in the biotech market impact clinical trial business? - Management is bullish on the clinical trial space, noting a significant increase in financing and expecting more filings in the coming years [24] Question: What is the significance of the Medipal relationship? - The partnership with Medipal is crucial for expanding the company's network in Japan, which is expected to drive demand for services [31] Question: What are the implications of Gilead's manufacturing changes for commercial revenues? - The transition from international to domestic shipments for Gilead's products is expected to have a short-term impact on revenue [34] Question: What is the status of the CRYOSHUTTLE offering? - The CRYOSHUTTLE is gaining adoption, providing clients with better control and reliability in logistics [46] Question: How does the company view its market share in clinical trials? - Management believes there is ample room for growth in market share and aims to capture more of the logistics space [48]

Financial Data and Key Metrics Changes - The company reported revenues of $9.8 million for Q1 2020, representing a 47% increase from Q1 2019, primarily driven by record revenues from commercial agreements supporting Gilead's YESCARTA and Novartis' KYMRIAH, which contributed $2.9 million, a 110% increase compared to Q1 2019 [11][12][20] Business Line Data and Key Metrics Changes - Bioservices revenue was reported at $1.3 million, which was not included in last year's numbers, indicating growth in this segment [11] - The company supported two therapies that filed for commercial approval during Q1 2020, with a third filing subsequent to the quarter end, showcasing ongoing activity in the biopharma market despite COVID-19 challenges [13] Market Data and Key Metrics Changes - The company experienced minimal disruption to its commercial portfolio due to COVID-19, although a significant number of clinical trials supported were temporarily paused [14][19] - The European business is tracking similarly to the U.S., with an increase in activity as restrictions begin to loosen [27] Company Strategy and Development Direction - The company is focused on expanding its capabilities in anticipation of expected growth in demand for supply chain solutions, supported by a strong balance sheet and long-term agreements [20][71] - The company is actively looking for M&A opportunities to further its mission and broaden its footprint, although no specific deals are currently underway [60] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating uncertainties caused by the COVID-19 pandemic, highlighting the company's strong relationships and commitment to supporting clients [71][72] - The company anticipates continued growth in the regenerative medicine market, despite potential delays due to COVID-19 [71] Other Important Information - The company has not laid off any employees due to the pandemic and is prepared to ramp up support for paused trials as they restart [17] - The company is providing logistics support for six clinical trials related to potential COVID-19 treatments and vaccines [18] Q&A Session Summary Question: What is the status of trial delays? - Management indicated that the rate of new pauses has been slowing, with some improvement in volumes observed [22][23] Question: Will there be more business from COVID trials? - Management noted ongoing requests from portfolio companies for support, indicating potential for additional trials [24][25] Question: How is the European business performing? - The European business is experiencing a similar trend to the U.S., with increased activity as restrictions ease [27] Question: What is the impact of COVID on the reproductive side of the business? - The reproductive side was most impacted, but operations are starting to recover as clinics resume activities [39] Question: Are there any disruptions in shipping due to air travel restrictions? - The company has managed to maintain operations without missing shipments, despite challenges in commercial air travel [41] Question: What is the status of the agreement with Kite/Gilead? - The agreement is viewed as a three-year extension without changes to the economics [43] Question: How many BLAs and MAAs are currently under review? - There are three BLAs filed in 2020 to date, with an expectation of approximately six more this year [67]

Revenue Growth - Cryoport reported Q1 2020 revenue of $93 million from Novartis's KYMRIAH, a significant increase from $45 million in Q1 2019, reflecting a growth of 106.67%[170] - Kite/Gilead reported Q1 2020 revenue of $140 million from YESCARTA, up from $96 million in Q1 2019, indicating a growth of 45.83%[170] - Revenues increased by $3.1 million or 46.9% to $9.8 million for the three months ended March 31, 2020, compared to $6.7 million for the same period in 2019[179] - Biopharmaceutical revenue rose by $1.9 million or 33.3% to $7.5 million for the three months ended March 31, 2020, driven by increased customer utilization and clinical trials[179] Clinical Trials and Market Presence - The number of clinical trials supported increased to 465 as of March 31, 2020, up from 383 as of March 31, 2019, with 29 new trials added during the period[179] - As of March 31, 2020, Novartis has qualified over 230 treatment centers across more than 20 countries for KYMRIAH, showcasing the global reach of its therapies[170] - Cryoport's platform supports the development and commercialization of cell and gene therapies, including CAR-T therapies, emphasizing its role in the regenerative medicine market[168] Strategic Initiatives - Cryoport's acquisition of Cryogene Partners expanded its biostorage capabilities, providing a cGMP compliant temperature-controlled sample management solution in a 21,000 square foot facility in Houston, Texas[163] - The partnership with Lonza aims to integrate logistics and bioservices solutions with manufacturing services to improve supply chain efficiency[172] - Cryoport's logistics solutions support the three largest integrators globally: FedEx, DHL, and UPS, enhancing its market presence in the life sciences industry[165] - The company launched Advanced Therapy Shippers™ designed for regenerative medicine, ensuring traceability and minimizing cross-contamination risks[162] - Cryoport's technology enables real-time monitoring of shipments, providing a documented history for regulatory compliance and quality assurance[159] - The company has established strategic alliances under its Compliance Unified Ecosystem™, enhancing its marketing reach in the life sciences sector[164] Financial Performance - Gross margin improved to 53.8% for the three months ended March 31, 2020, compared to 51.9% for the same period in 2019, due to increased business volume and pricing adjustments[181] - General and administrative expenses increased by $1.3 million or 49.4% for the three months ended March 31, 2020, primarily due to higher wages and employee costs[182] - Engineering and development expenses surged by $1.2 million or 253.9% for the three months ended March 31, 2020, reflecting increased consulting and development costs[184] - Cash and cash equivalents stood at $50.6 million, with $46.8 million in short-term investments and working capital of $98.0 million as of March 31, 2020[187] - Net cash used in investing activities was $1.5 million during the three months ended March 31, 2020, primarily for short-term investments and software development costs[189] Future Outlook - The company expects revenue to gradually ramp back up as COVID-19 restrictions are lifted, despite temporary impacts on revenue growth[178] - Management believes current cash and investments will satisfy operational and capital requirements for at least the next twelve months[192]

Logistics and Supply Chain Solutions - Cryoport supports over 430 clinical trials in the regenerative medicine space and has logged over 300,000 shipments to more than 100 countries[41] - The company expanded its services by acquiring Cryogene, enhancing its biostorage capabilities with a 21,000 square foot facility in Houston, Texas[36] - Cryoport's logistics solutions include the Advanced Therapy Shippers™, designed specifically for human-based therapies, ensuring traceability and compliance[23] - The Cryoportal Logistics Management Platform provides near real-time shipment tracking and monitoring, enhancing regulatory compliance and quality assurance[20] - Cryoport's solutions are classified as non-hazardous, unlike traditional methods using dry ice or liquid nitrogen, which are considered dangerous goods[38] - The company has established strategic alliances with major integrators like FedEx, DHL, and UPS, collectively holding over 87% of express logistics aircraft[46] - Cryoport's fleet management services aim to reduce clients' costs through optimized resource utilization and equipment loss minimization[30] - The company has developed customized packaging solutions using 'Design-of-Experiment' and 'Quality-by-Design' processes to meet client specifications[31] - World Courier integrated Cryoport's temperature-controlled solutions into its global network, enhancing supply chain programs for biopharmaceutical clients[48] - The partnership with Be The Match BioTherapies aims to deliver end-to-end supply chain services for cell and gene therapies, integrating their software platforms[50] - The collaboration with Vineti is expected to deploy its supply chain orchestration platform in over 300 clinical centers worldwide within the next year[53] - Lonza has designated Cryoport as its preferred partner for managing transport and delivery of patient tissues globally, focusing on personalized therapeutics[54] - The Cryoportal is designed for time-and temperature-sensitive shipments, focusing on cryogenic temperatures (-150℃) and ambient (20-25℃) logistics, ensuring samples remain within a safe temperature range[72] - Cryoport Express Shippers can maintain cryogenic temperatures of -150℃ or below for over 10 days, utilizing liquid nitrogen in a vacuum insulated vessel[75] - The SmartPak™ Condition Monitoring System provides near real-time tracking of shipments, including internal and external temperatures, humidity, and shock, ensuring the integrity of temperature-sensitive products[85] - Cryoport's Chain of Compliance™ solution offers comprehensive traceability of equipment and processes, enhancing supply chain intelligence and minimizing risks[90] - The Global Logistics Solutions segment offers temperature-controlled logistics solutions for biopharma, reproductive medicine, and animal health markets, shipping biologic materials globally[102] - Cryoport Express Advanced Therapy Shippers™ are specifically designed for the Regenerative Medicine market, ensuring traceability and preventing cross-contamination[81] - The company provides 24/7 logistics support with validated shipping lanes in over 100 countries, ensuring secure and timely deliveries[98] - Cryoport continues to advance its technology applications for temperature-controlled logistics and expand the functionality of its Cryoportal Logistics Management Platform[101] Financial Performance and Market Trends - Novartis reported $278 million in revenue from its CAR-T cell therapy KYMRIAH in fiscal year 2019, up from $76 million in 2018[64] - Kite Pharmaceuticals generated $456 million in revenue from its CAR-T therapy YESCARTA in fiscal year 2019, compared to $264 million in 2018[66] - The global cold chain logistics market for life sciences is projected to grow from $15.0 billion in 2018 to $18.6 billion by 2022, a 24% increase[60] - The total targeted enrollment for regenerative medicine clinical trials worldwide was reported as 59,757 patients as of January 2019[59] - The global IVF services revenue market generated $12.5 billion in 2018 and is projected to reach $26.4 billion by 2026, growing at a CAGR of 9.8% from 2019 to 2026[132] - The global animal health market is projected to reach $73.6 billion by 2027, with a CAGR of 5.8% from 2016 to 2027, driven by rising zoonotic and food-borne diseases[133] - In the U.S., 68% of households now own a pet, up from 58% in 1988, indicating a growing market for companion animal support[133] Company Strategy and Operations - The company continuously evaluates and expands its service offerings in response to market needs and client demand[35] - The company currently owns approximately 4 issued patents and is pursuing about 14 pending patent applications globally[113] - The company plans to expand its sales and marketing efforts globally, particularly in the Americas, EMEA, and Asia-Pacific regions, by hiring additional personnel[135] - The company aims to broaden its platform of solutions, including the introduction of shippers of varying sizes and temperature ranges based on market requirements[143] - The company anticipates that advancements in biotechnology will increase the demand for temperature-sensitive logistics solutions[136] - The company emphasizes the importance of maintaining sufficient capital to support its growth strategy and may need to raise additional funds in the future[159] - The company faces competition from firms like Thermo Fisher Scientific and specialty couriers, but believes its comprehensive solutions provide a competitive edge[142] - Future revenue growth is heavily dependent on timely market introduction of new solutions and services, necessitating significant investments in engineering and development[169] - The lengthy adoption cycle of target customers may hinder the company's ability to quickly increase revenues[170] - The company may pursue acquisitions to remain competitive, but such transactions carry risks that could adversely affect its business[189] - Integration of acquired businesses, such as Cryogene, may disrupt operations and create additional expenses, potentially affecting expected synergies[194] Risks and Challenges - The COVID-19 pandemic poses an uncertain risk to the company's financial condition and operational results, particularly in logistics and component procurement[179] - The company faces potential expenses related to exiting distribution agreements and must comply with various laws, which could impact revenue growth[164] - Retaining key professionals is critical for the company's growth and competitive position, as losing them could adversely affect operations[166] - The company currently maintains general liability insurance of $1 million per occurrence and product liability insurance with a $1 million annual coverage limitation, which may not fully protect against potential liabilities[184] - The company relies on third-party manufacturers for components, and any delays in procurement could lead to customer dissatisfaction and harm its reputation[178] - Claims for liability related to damage of customer specimens could expose the company to financial or reputational harm[201] - Compliance with various regulations for shipments can limit activities and increase operational costs[213] - The company does not currently have FDA or other regulatory approvals, but future regulations could impose additional expenses[216] - Cybersecurity threats pose risks to the company’s operations, and the absence of cyber security insurance could lead to significant costs in the event of a successful attack[212] - The company’s technology infrastructure is subject to potential damage or interruption from various sources, which could materially harm operations[212] - The company may face claims of patent infringement that could result in substantial defense costs, even if the claims are without merit[206] Financial Condition - As of December 31, 2019, the company reported a net loss of $18.33 million, compared to a net loss of $9.56 million in 2018, with an accumulated deficit of $159.3 million[157][158] - Approximately 80.2% of the Global Bioservices segment's net revenues came from one customer, although it was less than 10% of total revenues for the year ended December 31, 2019[121] - Two customers accounted for 24.1% and 12.8% of total revenues for the year ended December 31, 2019, while one customer represented 18.2% of revenues for the year ended December 31, 2018[121]

Cryoport, Inc. (NASDAQ:CYRX) Q4 2019 Earnings Conference Call March 5, 2020 5:00 PM ET Company Participants Todd Fromer - Managing Partner, KCSA Jerrell Shelton - Chief Executive Officer Robert Stefanovich - Chief Financial Officer Mark Sawicki - Chief Commercial Officer Conference Call Participants Puneet Souda - SVB Leerink Paul Knight - Janney Montgomery Richard Baldry - ROTH Capital Partners Mason Carrico - Stephens Inc. Steve Unger - Needham Andrew D'Silva - B. Riley FBR Operator Thank you for standin ...

Logistics and Services - Cryoport has supported over 400 clinical trials in the regenerative medicine space and has logged over 260,000 shipments to over 100 countries[217]. - The company recently added bioservices to its portfolio through the acquisition of Cryogene, expanding its temperature-controlled sample management solutions[212]. - Cryoport's Cryoportal Logistics Management Platform provides near real-time shipment tracking and regulatory compliance documentation[199]. - The company offers a range of Cryoport Express Shippers, including those that operate at temperatures as low as -150°C, meeting IATA and ISTA certification standards[200]. - Cryoport's solutions are designed to minimize risk and maximize success for clients introducing new biologics into global markets[196]. - The company has established a competitive advantage with its first-to-market logistics services and over a decade of experience in the life sciences industry[213]. - Cryoport's "powered by cryoport" partnerships allow clients to offer branded cryogenic logistics solutions, enhancing service offerings[210]. - Cryoport's advanced technologies enable comprehensive logistics solutions for personalized and allogeneic therapies, ensuring chain of custody and compliance[202][203]. - The company continuously evaluates and expands its service offerings in response to market needs and client demand[211]. - Cryoport has established strategic distribution alliances globally under the "powered by Cryoport" strategy, focusing on logistics services for the life sciences industry[221]. - The Cryoportal Logistics Management Platform automates order entry and logistics operations, reducing administrative costs and enhancing customer service[240]. - Cryoport's integrated solutions are designed to minimize risks in the biopharma supply chain, ensuring the efficacy of cell and gene therapies[224]. - The Cryoportal Logistics Management Platform is a "carrier-agnostic" system integrated with tracking systems of FedEx, DHL, and UPS to enhance operational efficiencies[242]. - Cryoport's Chain of Compliance™ solution offers comprehensive traceability of logistics processes, equipment, and third-party support, minimizing risks in the supply chain[260]. - The company has validated shipping lanes in over 100 countries, ensuring secure and timely deliveries of life sciences materials[268]. - Cryoport Consulting assists life sciences companies in developing strategies for global cold chain logistics management, addressing the growing demand for temperature-sensitive therapies[269]. - Ongoing research and development efforts aim to advance technology applications for temperature-controlled logistics and enhance the functionality of the Cryoportal Logistics Management Platform[270]. Market Trends and Growth Potential - The global cold chain logistics market for life sciences is projected to grow from $15.0 billion in 2018 to $18.6 billion by 2022, representing a 24% increase[233]. - The FDA predicts it will approve 10 to 20 cell and gene therapy products annually by 2025, highlighting the growth potential in regenerative medicine[231]. - Cryoport's logistics solutions support the management of clinical trials, with over 932 regenerative medicine companies conducting 1,069 clinical trials globally[231]. - The three largest integrators, FedEx, DHL, and UPS, collectively operate over 87% of express logistics aircraft, expanding their temperature-controlled offerings for the life sciences sector[222]. Financial Performance - Revenues increased by $4.3 million or 81.3% to $9.6 million for the three months ended September 30, 2019, compared to $5.3 million for the same period in 2018[273]. - Biopharmaceutical revenue rose by $3.0 million or 66.8% to $7.5 million for the three months ended September 30, 2019, driven by increased customer utilization and clinical trials[274]. - The number of clinical trials supported increased to 425, up from 323 in the same period last year, with 18 new biopharma clients added[274]. - Gross margin for the three months ended September 30, 2019, was 48.3%, down from 51.8% in the same period in 2018, primarily due to increased operating costs[276]. - General and administrative expenses surged by $6.8 million or 258.8% to $9.4 million, largely due to stock-based compensation related to financial targets[277]. - Sales and marketing expenses increased by $4.1 million or 227.5%, driven by stock-based compensation and expansion of the logistics workforce[278]. - Engineering and development expenses rose by $1.2 million or 254.0%, reflecting increased stock-based compensation and hiring of new personnel[279]. - Cost of revenues increased by $2.4 million or 94.4% to $5.0 million, primarily due to higher freight charges and operating costs[276]. - Global Bioservices revenue was $1.2 million for the third quarter of 2019, attributed to the Cryogene acquisition[274]. - The company supports 54 Phase III clinical trials as of September 30, 2019, an increase from 46 trials in the same period last year[274]. - Revenues increased by $10.8 million or 77.2% to $24.7 million for the nine months ended September 30, 2019, compared to $13.9 million for the same period in 2018[282]. - Biopharmaceutical revenue rose by $8.5 million or 72.9% to $20.1 million, driven by increased commercial revenue and the addition of 69 new biopharma clients[282]. - Gross margin decreased to 50.3% of revenues for the nine months ended September 30, 2019, down from 53.3% in the same period in 2018[284]. - General and administrative expenses increased by $8.0 million or 108.6% to $15.3 million, primarily due to increased stock-based compensation and employee costs[285]. - Sales and marketing expenses rose by $6.0 million or 113.3% to $11.2 million, attributed to higher stock-based compensation and increased employee costs[286]. - Engineering and development expenses increased by $1.4 million or 115.1% to $2.7 million, mainly due to stock-based compensation and additional staffing[287]. - Net loss for the nine months ended September 30, 2019, was $17.4 million, compared to a net loss of $7.3 million in the same period in 2018[282]. - Cash and cash equivalents as of September 30, 2019, totaled $44.6 million, with $48.9 million in short-term investments[291]. - Net cash used in investing activities was $63.9 million, primarily due to the acquisition of the Cryogene business for $20.4 million[293]. - Net cash provided by financing activities totaled $73.1 million, mainly from a public offering that generated $68.8 million in net proceeds[294]. Product and Technology Innovations - Cryoport's Express Shippers can maintain cryogenic temperatures of -150℃ or below for over 10 days, ensuring safe transport of temperature-sensitive biological materials[245]. - The Cryoport Express C3™ Shippers maintain a controlled temperature range of 2°-8°C for up to 96 hours, supporting the regenerative therapy market[253]. - The SmartPak II™ Condition Monitoring System provides near real-time tracking and monitoring of key shipment conditions, enhancing the reliability of temperature-sensitive deliveries[256].

Cryoport, Inc. (NASDAQ:CYRX) Q3 2019 Earnings Conference Call November 7, 2019 5:00 PM ET Company Participants Todd Fromer - Managing Partner, KCSA Jerrell Shelton - Chief Executive Officer Robert Stefanovich - Chief Financial Officer Mark Sawicki - Chief Commercial Officer Conference Call Participants Paul Knight - Janney Montgomery Wes Dupray - SVB Leerink Andrew D'Silva - B. Riley FBR Brandon Couillard - Jefferies Richard Baldry - Roth Steve Unger - Needham Operator Good day everyone and welcome to today ...

Cryoport, Inc. (NASDAQ:CYRX) Q2 2019 Results Conference Call August 8, 2019 5:00 PM ET Company Participants Todd Fromer – Managing Partner-KCSA Jerry Shelton – Chief Executive Officer Mark Sawicki – Chief Commercial Officer Robert Stefanovich – Chief Financial Officer Conference Call Participants Puneet Souda – SVB Leerink Andrew D'Silva – B. Riley FBR Brandon Couillard – Jefferies Paul Knight – Janney Steve Unger – Needham Richard Baldry – Roth Capital Operator Thank you for standing by. This is the confer ...