ROCKVILLE, Md., May 22, 2024 (GLOBE NEWSWIRE) -- MaxCyte, Inc., (Nasdaq: MXCT; LSE: MXCT), a leading, cell-engineering focused company providing enabling platform technologies to advance the discovery, development, and commercialization of next-generation cell-based therapeutics and innovative bioprocessing applications, today announced it has entered into a strategic platform license (SPL) agreement with Legend Biotech, a global leader in cell therapy. Under the terms of the SPL, Legend Biotech obtains a n ...

ROCKVILLE, Md., May 22, 2024 (GLOBE NEWSWIRE) -- MaxCyte, Inc., (Nasdaq: MXCT; LSE: MXCT), a leading, cell-engineering focused company providing enabling platform technologies to advance the discovery, development, and commercialization of next-generation cell-based therapeutics and innovative bioprocessing applications, today announced it has entered into a strategic platform license (SPL) agreement with Legend Biotech, a global leader in cell therapy. About MaxCyte At MaxCyte, we pursue cell engineering e ...

Financial Data and Key Metrics Changes - Total revenue for Q1 2024 was $11.3 million, a 32% increase from $8.6 million in Q1 2023 [71] - Core revenue was $8.2 million, up 5% from $7.8 million in the prior year [71] - Gross margin remained stable at 88% compared to the same quarter last year [64] - Total operating expenses increased to $22.2 million from $20.8 million in Q1 2023, driven by higher sales and marketing and R&D expenses [65] - The company ended Q1 2024 with $202.5 million in cash and no debt [65][67] Business Line Data and Key Metrics Changes - Revenue from cell therapy customers was $6.4 million, a 7% increase year-over-year, while drug discovery revenue was $1.8 million, relatively flat [71] - Processing assembly (PA) revenue increased to $3.4 million from $2.6 million in the prior year [72] - SPL program-related revenue was $3.2 million, significantly up from $0.8 million in Q1 2023, due to an unexpected regulatory milestone [63][71] Market Data and Key Metrics Changes - The funding environment for cell therapy companies has improved, as evidenced by increased capital market activities [51] - The company has signed four new SPLs in 2024, including Be Biopharma, bringing the total SPLs to 27 [57] - The market for non-viral cell therapies continues to show positive trends, with companies pursuing more complex therapies [68] Company Strategy and Development Direction - The company aims to support customers throughout their development stages and expand its SPL portfolio [29] - MaxCyte is focused on investing in customer support and technological capabilities to maintain a competitive edge [69] - The company is evaluating both inorganic and organic growth opportunities while being prudent in its approach [20] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the overall business trajectory and the operating environment for customers [51][68] - The company anticipates continued demand across both clinical and preclinical stages, with a healthy pipeline of SPLs [34][36] - Management remains confident in achieving its 2024 financial projections, reiterating core revenue guidance and raising SPL program-related revenue expectations [66] Other Important Information - The company has maintained a strong financial position and expects to end 2024 with at least $175 million in cash [67] - CASGEVY has received approvals in multiple regions, but revenue recognition will only occur once patients are infused, which may take time [58] Q&A Session Summary Question: Can you discuss the components of the revenue increase for the quarter? - Management noted that PA revenues were up sequentially and indicated optimism about continued growth in PA revenues throughout the year [73] Question: What is the tone from customers regarding financing activities? - Management observed a positive shift in customer sentiment, with increased confidence in project prioritization and funding [75][89] Question: Are there new services or capabilities being added for client support? - Management confirmed that additional support is being provided to SPL clients, focusing on early engagement and enhanced service offerings [80][94] Question: What is the outlook for SPL agreements moving forward? - Management remains confident in signing three to five new SPLs annually, with a healthy pipeline of opportunities [84][90]

MaxCyte, Inc. (MXCT) came out with a quarterly loss of $0.09 per share versus the Zacks Consensus Estimate of a loss of $0.14. This compares to loss of $0.11 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 35.71%. A quarter ago, it was expected that this company would post a loss of $0.10 per share when it actually produced a loss of $0.05, delivering a surprise of 50%.Over the last four quarters, the company has surpassed con ...

PART I. FINANCIAL INFORMATION [Item 1. Condensed Consolidated Financial Statements (Unaudited)](index=3&type=section&id=Item%201.%20Condensed%20Consolidated%20Financial%20Statements%20(Unaudited)) This section presents MaxCyte, Inc.'s unaudited condensed consolidated financial statements for the three months ended March 31, 2024, including the balance sheets, statements of operations, changes in stockholders' equity, and cash flows, along with accompanying notes detailing significant accounting policies, revenue disaggregation, equity changes, and commitments [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Presents MaxCyte's financial position, including assets, liabilities, and equity, as of March 31, 2024, and December 31, 2023 Condensed Consolidated Balance Sheets (in thousands) | Metric | March 31, 2024 (in thousands) | December 31, 2023 (in thousands) | | :-------------------------------- | :----------------------------- | :----------------------------- | | Cash and cash equivalents | $22,249 | $46,506 | | Short-term investments | $135,264 | $121,782 | | Total current assets | $178,674 | $190,194 | | Total assets | $257,930 | $268,274 | | Total current liabilities | $13,477 | $17,855 | | Total liabilities | $31,571 | $36,107 | | Total stockholders' equity | $226,359 | $232,167 | [Condensed Consolidated Statements of Operations](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Details MaxCyte's financial performance, including revenue, expenses, and net loss, for the three months ended March 31, 2024, and 2023 Condensed Consolidated Statements of Operations (in thousands) | Metric | Three Months Ended March 31, 2024 (in thousands) | Three Months Ended March 31, 2023 (in thousands) | | :-------------------------------- | :--------------------------------------------- | :--------------------------------------------- | | Revenue | $11,342 | $8,576 | | Cost of goods sold | $1,403 | $1,000 | | Gross profit | $9,939 | $7,576 | | Operating loss | $(12,275) | $(13,178) | | Net loss | $(9,526) | $(10,882) | | Basic and diluted net loss per share | $(0.09) | $(0.11) | - Revenue increased by **32.2%** from **$8.576 million** in Q1 2023 to **$11.342 million** in Q1 2024[11](index=11&type=chunk) - Net loss decreased by **12.4%** from **$10.882 million** in Q1 2023 to **$9.526 million** in Q1 2024[11](index=11&type=chunk) [Condensed Consolidated Statements of Changes in Stockholders' Equity](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Stockholders'%20Equity) Outlines the changes in MaxCyte's stockholders' equity components from January 1, 2024, to March 31, 2024 Condensed Consolidated Statements of Changes in Stockholders' Equity (in thousands) | Metric | Balance at Jan 1, 2024 (in thousands) | Balance at Mar 31, 2024 (in thousands) | | :-------------------------------- | :------------------------------------ | :----------------------------------- | | Common Stock (Amount) | $1,040 | $1,044 | | Additional Paid-in Capital | $406,925 | $410,639 | | Accumulated Deficit | $(175,798) | $(185,324) | | Total Stockholders' Equity | $232,167 | $226,359 | - Stock-based compensation expense for Q1 2024 was **$3.015 million**, contributing to additional paid-in capital[13](index=13&type=chunk) - Net loss of **$9.526 million** for Q1 2024 increased the accumulated deficit[13](index=13&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Presents MaxCyte's cash inflows and outflows from operating, investing, and financing activities for the three months ended March 31, 2024, and 2023 Condensed Consolidated Statements of Cash Flows (in thousands) | Cash Flow Activity | Three Months Ended March 31, 2024 (in thousands) | Three Months Ended March 31, 2023 (in thousands) | | :-------------------------------- | :--------------------------------------------- | :--------------------------------------------- | | Net cash used in operating activities | $(10,564) | $(4,324) | | Net cash used in investing activities | $(14,396) | $29,637 | | Net cash provided by financing activities | $703 | $1,456 | | Net (decrease) increase in cash and cash equivalents | $(24,257) | $26,769 | | Cash and cash equivalents, end of period | $22,249 | $37,833 | - Net cash used in operating activities increased significantly from **$4.324 million** in Q1 2023 to **$10.564 million** in Q1 2024[15](index=15&type=chunk) - Investing activities shifted from providing **$29.637 million** in Q1 2023 to using **$14.396 million** in Q1 2024, primarily due to changes in investment purchases and maturities[15](index=15&type=chunk) [Notes to Unaudited Condensed Consolidated Financial Statements](index=7&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) Provides detailed explanations and disclosures supporting the unaudited condensed consolidated financial statements - MaxCyte is a global life sciences company focused on advancing cell therapies using its proprietary Flow Electroporation® technology platform[17](index=17&type=chunk)[84](index=84&type=chunk) - The company's significant accounting policies have not materially changed during the three months ended March 31, 2024[20](index=20&type=chunk) Revenue Disaggregation (in thousands) | Revenue Type | Q1 2024 | Q1 2023 | | :------------- | :------ | :------ | | Product sales | $5,361 | $4,790 | | Lease elements | $5,758 | $3,612 | | Other | $223 | $174 | | Total | $11,342 | $8,576 | - Deferred revenue was **$4.755 million** as of March 31, 2024, down from **$5.352 million** at December 31, 2023[40](index=40&type=chunk) - Total unrecognized compensation expense was **$25.434 million** as of March 31, 2024, to be recognized over an estimated weighted average period of **2.6 years**[50](index=50&type=chunk) Stock-based Compensation Expense (in thousands) | Category | Q1 2024 | Q1 2023 | | :------------------------ | :------ | :------ | | General and administrative | $1,680 | $1,467 | | Sales and marketing | $626 | $1,066 | | Research and development | $709 | $744 | | Total | $3,015 | $3,277 | Inventory Components (in thousands) | Component | March 31, 2024 | December 31, 2023 | | :----------------- | :------------- | :---------------- | | Raw materials | $5,628 | $5,694 | | Finished goods | $6,031 | $5,977 | | Work in progress | $301 | $558 | | Total inventory | $11,960 | $12,229 | - The company's operating lease liabilities totaled **$18.640 million** as of March 31, 2024, with a weighted-average remaining lease term of **11.4 years**[67](index=67&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=16&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) This section provides management's perspective on MaxCyte's financial condition and operational results for the three months ended March 31, 2024, highlighting revenue growth driven by program-related milestones, ongoing operating losses, and the company's liquidity position and capital resources [Overview](index=24&type=section&id=Overview) Introduces MaxCyte's business model, proprietary technology, customer base, and overall financial outlook - MaxCyte is a leading commercial cell engineering company utilizing its proprietary Flow Electroporation® technology (ExPERT platform) to advance cell therapeutics and support cell-based research[84](index=84&type=chunk)[85](index=85&type=chunk) - The company's technology is extensively validated by a customer base including **27 Strategic Platform License (SPL) partners**, large biopharmaceutical companies, and academic institutions[86](index=86&type=chunk) - MaxCyte incurred a net loss of **$9.5 million** for the three months ended March 31, 2024, and had an accumulated deficit of **$185.3 million**, expecting continued losses due to investments in growth[87](index=87&type=chunk) [Recent Developments](index=26&type=section&id=Recent%20Developments) Highlights key business achievements and new strategic partnerships during the recent period - In Q1 2024, MaxCyte signed new Strategic Platform License (SPL) agreements with Lion TCR, Imugene, and Wugen, and a fourth with Be Biopharma on April 2, 2024[89](index=89&type=chunk) - These SPL agreements generate revenue from instrument sales/leases, disposables sales, pre-commercial milestones, and sales-based payments upon commercialization[89](index=89&type=chunk) [Results of Operations](index=26&type=section&id=Results%20of%20Operations) Analyzes MaxCyte's revenue, cost of goods sold, gross profit, and operating expenses for the reporting period [Revenue](index=26&type=section&id=Revenue_MD%26A) Details MaxCyte's revenue performance, distinguishing between core and program-related revenue streams Total Revenue Breakdown (in thousands) | Category | Q1 2024 | Q1 2023 | Change Amount | Change % | | :-------------- | :------ | :------ | :------------ | :------- | | Core Revenue | $8,188 | $7,772 | $416 | 5% | | Program-related | $3,154 | $804 | $2,350 | 292% | | Total Revenue | $11,342 | $8,576 | $2,766 | 32% | Core Revenue Details (in thousands) | Core Revenue Type | Q1 2024 | Q1 2023 | Change Amount | Change % | | :---------------- | :------ | :------ | :------------ | :------- | | Instrument revenue | $1,928 | $2,189 | $(261) | (12%) | | Disposables revenue | $3,432 | $2,600 | $832 | 32% | | Lease revenue | $2,604 | $2,809 | $(205) | (7%) | | Other revenue | $224 | $174 | $50 | 29% | | Total core revenue | $8,188 | $7,772 | $416 | 5% | - The **32%** increase in total revenue was primarily driven by a **292%** increase in program-related revenue, which reached **$3.154 million** in Q1 2024[94](index=94&type=chunk)[95](index=95&type=chunk)[97](index=97&type=chunk) - Core revenue growth of **5%** was mainly due to an **$0.8 million** increase in disposable sales, partially offset by decreases in instrument sales and lease revenue[96](index=96&type=chunk) [Cost of Goods Sold and Gross Profit](index=30&type=section&id=Cost%20of%20Goods%20Sold%20and%20Gross%20Profit) Analyzes the cost of goods sold and its impact on MaxCyte's gross profit and margin Cost of Goods Sold and Gross Profit (in thousands) | Metric | Q1 2024 | Q1 2023 | Change Amount | Change % | | :----------- | :------ | :------ | :------------ | :------- | | Cost of goods sold | $1,403 | $1,000 | $403 | 40% | | Gross profit | $9,939 | $7,576 | $2,363 | 31% | | Gross margin | 88% | 88% | 0% | 0% | - Cost of goods sold increased by **40%** due to higher disposable sales, in-house manufacturing, and raw material pricing, partially offset by decreased instrument sales[102](index=102&type=chunk) - Gross profit increased by **31%**, primarily driven by the increase in program-related revenue, which has no associated cost of goods sold[103](index=103&type=chunk)[104](index=104&type=chunk) [Operating Expenses](index=30&type=section&id=Operating%20Expenses) Examines trends in MaxCyte's research and development, sales and marketing, and general and administrative expenses Operating Expenses (in thousands) | Expense Category | Q1 2024 | Q1 2023 | Change Amount | Change % | | :------------------------ | :------ | :------ | :------------ | :------- | | Research and development | $6,678 | $6,047 | $631 | 10% | | Sales and marketing | $7,365 | $6,296 | $1,069 | 17% | | General and administrative | $7,103 | $7,499 | $(396) | (5%) | | Depreciation and amortization | $1,068 | $912 | $156 | 17% | - Research and development expenses increased by **10%** due to higher compensation and lab expenses, partially offset by lower stock-based compensation[108](index=108&type=chunk) - Sales and marketing expenses rose by **17%** driven by increased headcount and professional fees[111](index=111&type=chunk) - General and administrative expenses decreased by **5%** primarily due to lower professional services and occupancy costs, partially offset by increased stock-based compensation and public company fees[114](index=114&type=chunk)[115](index=115&type=chunk) [Interest Income and Other Expense](index=34&type=section&id=Interest%20Income%20and%20Other%20Expense) Reports MaxCyte's interest income and other non-operating expenses for the period Interest Income (in thousands) | Metric | Q1 2024 | Q1 2023 | Change Amount | Change % | | :------------ | :------ | :------ | :------------ | :------- | | Interest income | $2,749 | $2,296 | $453 | 20% | - Interest income increased by **20%** due to higher interest rates during the period[119](index=119&type=chunk) [Liquidity and Capital Resources](index=34&type=section&id=Liquidity%20and%20Capital%20Resources) Assesses MaxCyte's ability to meet its short-term and long-term financial obligations and its sources of funding - MaxCyte incurred a net loss of **$9.5 million** in Q1 2024 and has an accumulated deficit of **$185.3 million** as of March 31, 2024[120](index=120&type=chunk) - Operations have been funded primarily by common stock sales, loan agreements, and product sales/licenses, including **$184.3 million** net proceeds from the August 2021 IPO[120](index=120&type=chunk) - The company believes existing cash, cash equivalents, short-term investments, and internally generated cash flows will fund operations and capital expenditures for at least the next **12 months**[121](index=121&type=chunk) - Future funding requirements depend on factors such as market acceptance, R&D costs, sales growth, and capital availability for partners[122](index=122&type=chunk)[124](index=124&type=chunk) [Cash Flows](index=35&type=section&id=Cash%20Flows_MD%26A) Provides a detailed analysis of MaxCyte's cash generation and usage across operating, investing, and financing activities Summary of Cash Flows (in thousands) | Cash Flow Activity | Q1 2024 | Q1 2023 | | :----------------- | :------ | :------ | | Operating activities | $(10,564) | $(4,324) | | Investing activities | $(14,396) | $29,637 | | Financing activities | $703 | $1,456 | | Net (decrease) increase | $(24,257) | $26,769 | - Net cash used in operating activities increased to **$10.6 million** in Q1 2024, primarily due to the net loss and changes in operating assets and liabilities[126](index=126&type=chunk) - Net cash used in investing activities was **$14.4 million** in Q1 2024, a shift from **$29.6 million** provided in Q1 2023, driven by investment purchases and maturities[128](index=128&type=chunk)[129](index=129&type=chunk) [Contractual Obligations and Commitments](index=37&type=section&id=Contractual%20Obligations%20and%20Commitments) Outlines MaxCyte's significant contractual obligations and future commitments - As of March 31, 2024, contractual obligations consisted exclusively of operating lease obligations, primarily the Headquarters Lease expiring August 31, 2035[131](index=131&type=chunk) - Total undiscounted remaining non-cancellable lease payments are **$27.7 million**[131](index=131&type=chunk) [Critical Accounting Estimates](index=39&type=section&id=Critical%20Accounting%20Estimates) Discusses MaxCyte's critical accounting policies and estimates that require significant management judgment - There have been no material changes to the company's critical accounting policies and estimates from those disclosed in its Annual Report on Form 10-K filed on March 12, 2024[134](index=134&type=chunk) [JOBS Act Accounting Election](index=39&type=section&id=JOBS%20Act%20Accounting%20Election) Explains MaxCyte's status as an emerging growth company and its election regarding accounting standards adoption - MaxCyte is an 'emerging growth company' (EGC) under the JOBS Act and has elected to delay the adoption of new and revised accounting standards, aligning with private company requirements[135](index=135&type=chunk) - The company will remain an EGC until the earliest of December 31, 2026, or meeting certain revenue/market value thresholds[136](index=136&type=chunk) [Recent Accounting Pronouncements](index=39&type=section&id=Recent%20Accounting%20Pronouncements_MD%26A) Reviews the potential impact of recently issued accounting standards on MaxCyte's financial statements - The company has evaluated all issued and unadopted Accounting Standards Updates and believes their adoption will not materially impact its financial position, results of operations, or cash flows[138](index=138&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=39&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section outlines MaxCyte's exposure to various market risks, including interest rate risk, foreign currency risk, and inflation risk, and management's assessment of their potential impact on the company's financial condition and operations [Interest Rate Risk](index=39&type=section&id=Interest%20Rate%20Risk) Assesses MaxCyte's exposure to fluctuations in interest rates and their potential effect on financial results - MaxCyte is exposed to interest rate risk primarily from its cash and investments, but a **10%** change in market interest rates is not expected to materially affect its business[139](index=139&type=chunk)[140](index=140&type=chunk) - The company has no indebtedness, thus no exposure to interest rate risk from increases in interest rates[141](index=141&type=chunk) [Foreign Currency Risk](index=41&type=section&id=Foreign%20Currency%20Risk) Evaluates MaxCyte's exposure to foreign currency exchange rate fluctuations and related hedging strategies - The company is exposed to foreign currency risk from transactions denominated in Euros and British Pounds, but does not expect a material effect on financial position or results of operations in the foreseeable future[142](index=142&type=chunk) - MaxCyte has not entered into any hedging arrangements for foreign currency risk[142](index=142&type=chunk) [Inflation Risk](index=41&type=section&id=Inflation%20Risk) Discusses the historical and potential future impact of inflation on MaxCyte's business and financial performance - Inflation and changing prices have not had a material effect on MaxCyte's business during the last two years, and the company cannot predict future material effects[143](index=143&type=chunk) [Item 4. Controls and Procedures](index=41&type=section&id=Item%204.%20Controls%20and%20Procedures) This section confirms the effectiveness of MaxCyte's disclosure controls and procedures as of March 31, 2024, and reports no material changes in internal control over financial reporting during the quarter [Evaluation of Disclosure Controls and Procedures](index=41&type=section&id=Evaluation%20of%20Disclosure%20Controls%20and%20Procedures) Reports on the effectiveness of MaxCyte's disclosure controls and procedures as evaluated by management - MaxCyte's Chief Executive Officer and Chief Financial Officer concluded that the design and operation of disclosure controls and procedures were effective as of March 31, 2024, at the reasonable assurance level[145](index=145&type=chunk) [Changes in Internal Control over Financial Reporting](index=41&type=section&id=Changes%20in%20Internal%20Control%20over%20Financial%20Reporting) Addresses any material changes in MaxCyte's internal control over financial reporting during the quarter - There were no changes in internal control over financial reporting during the three months ended March 31, 2024, that materially affected or are reasonably likely to materially affect it[146](index=146&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=42&type=section&id=Item%201.%20Legal%20Proceedings) MaxCyte is not currently a party to any material legal proceedings and is unaware of any pending or threatened legal actions that would have a material adverse effect on its business - The company is not currently involved in any material legal proceedings[148](index=148&type=chunk) [Item 1A. Risk Factors](index=42&type=section&id=Item%201A.%20Risk%20Factors) This section refers readers to the comprehensive risk factors detailed in the company's Annual Report on Form 10-K, noting that there have been no material changes to these risks - There have been no material changes to the risk factors previously disclosed in the Annual Report on Form 10-K filed on March 12, 2024[149](index=149&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=42&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) MaxCyte reports no unregistered sales of equity securities and confirms no material change in the planned use of proceeds from its initial public offering (IPO) - No unregistered sales of equity securities occurred[150](index=150&type=chunk) - There has been no material change in the planned use of proceeds from the IPO[151](index=151&type=chunk) [Item 3. Defaults Upon Senior Securities](index=42&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company states that there have been no defaults upon senior securities during the reporting period - No defaults upon senior securities were reported[152](index=152&type=chunk) [Item 4. Mine Safety Disclosures](index=42&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to MaxCyte's operations - This item is not applicable to the registrant[153](index=153&type=chunk) [Item 5. Other Information](index=42&type=section&id=Item%205.%20Other%20Information) The company reports no other information required to be disclosed under this item - No other information is applicable for disclosure[154](index=154&type=chunk) [Item 6. Exhibits](index=43&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed with the Quarterly Report on Form 10-Q, including severance agreements, certifications from executive officers, and XBRL-related documents - Exhibits filed include a severance agreement, certifications of principal executive and financial officers (31.1, 31.2, 32.1, 32.2), and Inline XBRL documents (101.INS, 101.SCH, 101.CAL, 101.DEF, 101.LAB, 101.PRE, 104)[155](index=155&type=chunk) [Signatures](index=44&type=section&id=Signatures) The report is duly signed on behalf of MaxCyte, Inc. by its President and Chief Executive Officer, Maher Masoud, and Chief Financial Officer, Douglas Swirsky, on May 7, 2024 - The report was signed by Maher Masoud, President and Chief Executive Officer, and Douglas Swirsky, Chief Financial Officer, on May 7, 2024[159](index=159&type=chunk)

Exhibit 99.1 MaxCyte Reports First Quarter 2024 Financial Results and Updates 2024 Guidance ROCKVILLE, MD, May 7, 2024 — MaxCyte, Inc., (NASDAQ: MXCT; LSE: MXCT), a leading, cell- engineering focused company providing enabling platform technologies to advance the discovery, development, and commercialization of next-generation cell therapeutics and innovative bioprocessing applications, today announced its first quarter ended March 31, 2024 financial results and updated its 2024 guidance. First Quarter High ...

ROCKVILLE, Md., April 10, 2024 (GLOBE NEWSWIRE) -- MaxCyte, Inc., (NASDAQ: MXCT; LSE: MXCT), a leading, cell-engineering focused company providing enabling platform technologies to advance the discovery, development and commercialization of next-generation cell therapeutics and innovative bioprocessing applications, today announced that it will release financial results for the first quarter 2024 after the U.S. market close on Tuesday, May 7th, 2024. Company management will host a conference call to discuss ...

ROCKVILLE, Md., April 10, 2024 (GLOBE NEWSWIRE) -- MaxCyte, Inc., (NASDAQ:MXCT, LSE: MXCT))), a leading, cell-engineering focused company providing enabling platform technologies to advance the discovery, development and commercialization of next-generation cell therapeutics and innovative bioprocessing applications, today announced that it will release financial results for the first quarter 2024 after the U.S. market close on Tuesday, May 7th, 2024. Company management will host a conference call to discus ...

ROCKVILLE, Md., April 02, 2024 (GLOBE NEWSWIRE) -- MaxCyte, Inc., (NASDAQ:MXCT, LSE: MXCT))), a leading, cell-engineering focused company providing enabling platform technologies to advance the discovery, development and commercialization of next-generation cell-based therapeutics and innovative bioprocessing applications and Be Biopharma ("Be Bio"), a company pioneering the development of Engineered B Cell Medicines (BCMs) to dramatically improve the lives of patients who are living with genetic diseases, ...

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, 2023 or ☐ 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: 001-40674 MaxCyte, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of i ...