Cryoport(CYRX)

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Cryoport(CYRX) - 2021 Q1 - Quarterly Report
2021-05-06 21:11
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______. Commission File Number: 001-34632 CRYOPORT, INC. (Exact Name of Registrant as Specified in its Charter) Titleofeachclass: Com ...
Cryoport(CYRX) - 2021 Q1 - Earnings Call Transcript
2021-05-05 01:30
Cryoport, Inc. (NASDAQ:CYRX) Q1 2021 Results Conference Call May 4, 2021 5:00 PM ET Company Participants Todd Fromer - Managing Partner, KCSA Jerrell Shelton - CEO Robert Stefanovich - CFO Dr. Mark Sawicki - Chief Scientific Officer Thomas Heinzen - VP, Corporate Development and IR Conference Call Participants Matt Andrews - Jefferies Andrew D’Silva - B. Riley Paul Knight - KeyBanc David Saxon - Needham John Sourbeer - UBS Richard Baldry - ROTH Capital Partners Operator Thank you for standing by. This is th ...
Cryoport(CYRX) - 2020 Q4 - Earnings Call Transcript
2021-03-02 04:13
Cryoport, Inc. (NASDAQ:CYRX) Q4 2020 Earnings Conference Call March 1, 2021 5:00 PM ET Company Participants Todd Fromer - Managing Partner, KCSA Jerrell Shelton - Chief Executive Officer Robert Stefanovich - Chief Financial Officer Mark Sawicki - Chief Scientific Officer Thomas Heinzen - Vice President, Corporate Development & Investor Relations Conference Call Participants Puneet Souda - SVB Leerink Brandon Couillard - Jefferies Andrew D'Silva - B. Riley Securities Richard Baldry - ROTH Capital David Saxon ...
Cryoport(CYRX) - 2020 Q4 - Annual Report
2021-03-01 22:09
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ⌧ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 ◻ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 001-34632 CRYOPORT, INC. (Exact Name of Registrant as Specified in its Charter) Nevada 88-0313393 (State or other juris ...
Cryoport(CYRX) - 2020 Q3 - Earnings Call Transcript
2020-11-08 13:24
Cryoport, Inc. (NASDAQ:CYRX) Q3 2020 Earnings Conference Call November 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 Scientific Officer Thomas Heinzen - Vice President, Corporate Development & Investor Relations Conference Call Participants Andrew D'Silva - B. Riley Securities Joseph Conway - Needham & Company Operator Good day everyone, and welcome to the Cryoport Incor ...
Cryoport(CYRX) - 2020 Q3 - Quarterly Report
2020-11-06 22:19
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].
Cryoport(CYRX) - 2020 Q2 - Quarterly Report
2020-08-10 19:20
Table of Contents Title of each class: Trading Symbol(s) Name of each exchange on which registered: Common Stock , $0.001 par value CYRX The Nasdaq Stock Market LLC (The Nasdaq Capital Market) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ...
Cryoport(CYRX) - 2020 Q2 - Earnings Call Transcript
2020-08-09 05:09
Cryoport, Inc. (NASDAQ:CYRX) Q2 2020 Earnings Conference Call August 6, 2020 5:00 PM ET Company Participants Todd Fromer - Managing Partner, KCSA Jerrell Shelton - CEO Mark Sawicki - CCO Robert Stefanovich - CFO Thomas Heinzen - VP, Corporate Development and Investor Relations Conference Call Participants Jacob Johnson - Stephens Steve Unger - Needham Andrew D'Silva - B. Riley FBR Brandon Couillard - Jefferies Operator Good day, and welcome to the Cryoport, Inc.'s Second Quarter 2020 Earnings Results Call. ...
Cryoport(CYRX) - 2020 Q1 - Earnings Call Transcript
2020-05-10 10:59
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]
Cryoport(CYRX) - 2020 Q1 - Quarterly Report
2020-05-08 20:10
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]