LEXINGTON, Mass., April 24, 2025 (GLOBE NEWSWIRE) -- Rapid Micro Biosystems, Inc. (Nasdaq: RPID) (the “Company”), an innovative life sciences technology company providing mission-critical automation solutions to facilitate the efficient manufacturing and fast, safe release of healthcare products, will release first quarter 2025 financial results prior to the market open on Friday, May 9, 2025. In conjunction with the release, the Company’s management team will host a webcast conference call at 8:30 a.m. ET ...

Core Points - Rapid Micro Biosystems, Inc. announced the grant of equity awards to new employees as part of its Inducement Plan, including 50,000 restricted stock units (RSUs) and 250,000 stock options [1][4] - The stock options have an exercise price of $2.27 per share, with a vesting schedule that includes 25% vesting on the first anniversary and monthly vesting thereafter [2] - The RSUs will vest annually over a three-year period, with one-third vesting on each anniversary of their grant dates [3] Company Overview - Rapid Micro Biosystems is a life sciences technology company that provides automation solutions for the manufacturing and release of healthcare products, including biologics, vaccines, and sterile injectables [5] - The company's flagship product, the Growth Direct system, modernizes microbial quality control testing workflows in pharmaceutical manufacturing, enhancing efficiency, accuracy, and compliance [5] - The company is headquartered in Lexington, Massachusetts, with manufacturing in Lowell, Massachusetts, and additional locations in Switzerland, Germany, and the Netherlands [5]

Growth Direct Platform - The Growth Direct platform automates and modernizes microbial quality control (MQC) testing workflows, delivering results in half the time or less compared to traditional methods[24]. - The Growth Direct system has been installed in 162 locations globally, with over 6 million consumables sold, serving 70% of the top twenty largest pharmaceutical companies by revenue[31]. - The Growth Direct method reduces manual steps by up to 85%, generating substantial time and cost savings for customers[45]. - The Growth Direct platform is the only fully automated, high-throughput MQC solution, developed with over 15 years of customer feedback[25]. - The Growth Direct platform is expected to drive substantial growth in the biologics and cell and gene therapy markets, which have the highest MQC testing intensity per batch[43]. - The Growth Direct system enables time to organism detection in as little as 12 hours and final time-to-result in one to three days, significantly improving the speed of sterility testing compared to traditional methods that take at least 14 days[58]. - The Growth Direct platform automates microbiology quality control (MQC) testing, reducing manual steps by 85% and accelerating time to results by 50% or more[70]. - The system has a high throughput capacity, processing up to 700 samples simultaneously, which enhances operational efficiency for manufacturers[69]. - The Growth Direct platform integrates with existing Laboratory Information Management Systems (LIMS), enabling a fully paperless workflow and improving data integrity and security[60]. - The Growth Direct platform has been adopted by 46 global customers across 98 manufacturing facilities since its launch in 2017[75]. - The company aims to expand the Growth Direct platform's implementation within existing customers, targeting 70% of the top twenty global pharmaceutical companies[76]. Market Potential and Strategy - The total addressable market for MQC testing is estimated at approximately $5.0 billion for system sales and another $5.0 billion for annual recurring sales of consumables and services[42]. - The MQC market is expected to grow due to increasing regulatory scrutiny and the demand for complex therapeutic modalities like biologics and cell and gene therapies[43]. - The company aims to establish Growth Direct as the global standard in automated MQC, focusing on speed, accuracy, security, and regulatory compliance[32]. - The company has a scalable commercial infrastructure with direct sales teams in North America, Europe, and Asia-Pacific, ensuring successful onboarding and support for customers[30]. - The company intends to pursue strategic investments, partnerships, and acquisitions to enhance its growth profile[79]. - The company expects a significant portion of its revenue to be generated from a small number of customers each year, relying on multi-system deals and consumables[124]. - The company aims to broaden the application of its automated MQC testing to capture a greater share of the value chain in drug manufacturing[129]. Financial Performance - Positive gross margins were achieved for the first time in the company's history in Q3 and Q4 of 2024[83]. - The company's gross margins improved from (24)% for the twelve months ended December 31, 2023 to (0.4)% for the twelve months ended December 31, 2024, indicating a positive trend[115]. - For the years ended December 31, 2024 and 2023, the company incurred net losses of $46.9 million and $52.5 million, respectively, with an accumulated deficit of $475.3 million as of December 31, 2024[109]. - The company has financed its operations primarily through private placements of equity, debt, and its initial public offering, with revenue derived from its Growth Direct platform being a lesser extent[109]. - The company may need to raise additional capital through equity offerings or debt financing, which could dilute existing shareholders' interests[126]. - The company faces significant risks related to its financial position, including the potential for continued losses and the need to generate significant additional revenue to achieve profitability[109]. Operational Efficiency and Challenges - The company implemented an Operational Efficiency Program in July 2024, which included workforce reductions and cost-saving measures, aiming to achieve positive cash flow without additional financing[109]. - The Operational Efficiency Program was implemented in July 2024, aiming for positive cash flow by the end of 2027 without additional financing[145]. - The company anticipates that the Operational Efficiency Program may not yield the expected cost savings, potentially leading to greater total costs and expenses[146]. - Future operational results may lag expectations, prompting additional workforce reductions or restructuring activities[147]. - The company faces challenges in managing future growth effectively, requiring significant hiring and training of specialized personnel[148]. Intellectual Property and Compliance - The company has a strong intellectual property portfolio with at least 80 granted and pending patents globally, supporting its competitive advantage in automated MQC testing[71]. - The company has 10 granted unexpired patents in the United States and 53 issued patents in foreign jurisdictions as of December 31, 2024[91]. - Intellectual property protection is crucial for the company's technology, and failure to maintain this protection could impair competitive advantage[215]. - The company may face challenges in obtaining and maintaining sufficient intellectual property protection, which could hinder commercialization efforts[216]. - The U.S. government retains certain rights in inventions developed with federal funding, which may include march-in rights affecting patent rights and technology developed from such patents[221]. - The company relies on trade secrets and confidentiality agreements to protect its proprietary information, with an increasing reliance expected as early patents expire[222]. Risks and Competition - The company faces competition from both established manufacturers and smaller companies in the pharmaceutical manufacturing industry[92]. - Competition in the automated MQC testing market is growing, and the company may struggle to maintain its leading position[154]. - The company faces intense competition for hiring qualified personnel, which could impact its ability to execute business strategies effectively[165]. - The company is highly dependent on key management personnel, and the loss of any could delay sales and expansion efforts[164]. - The company faces risks related to inventory management and the potential for excess inventory that may become obsolete[138]. - The company is exposed to significant uninsured liabilities due to the limitations of its insurance policies, which may impact financial stability[191]. Regulatory and Compliance Issues - The company is subject to various U.S. and international data privacy laws, including the California Consumer Privacy Act (CCPA) and the EU General Data Protection Regulation (GDPR), which impose strict compliance requirements[172][176]. - The evolving regulatory environment regarding data privacy may lead to increased compliance costs and operational challenges[177]. - The company has experienced increased scrutiny and restrictions on personal data transfers, particularly concerning sensitive data categories[178]. - The company’s Growth Direct platform is designed to integrate into compliant quality-control workflows, but it is not directly regulated by the FDA[137]. Supply Chain and Manufacturing - Manufacturing operations are dependent on third-party suppliers, including single-source suppliers, making the company vulnerable to supply shortages and price fluctuations[205]. - The company has experienced supply chain disruptions due to the coronavirus pandemic, which may continue to affect operations[206]. - Critical components for the Growth Direct system are sourced from single suppliers, and any loss of supply could materially impact the business[207]. - The company relies on forecasts to manage inventory needs, and inaccuracies in these forecasts could lead to delays or increased costs[210]. - Shipping arrangements are critical, and any changes or damages during shipping could adversely affect financial results and customer satisfaction[211]. Employee Engagement and Diversity - Membership in the company's Women's Employee Resource Group grew by approximately 48% in 2024, reflecting a commitment to diversity and employee engagement[104]. - The company has a high customer satisfaction rate, with over 40% of customers deploying Growth Direct systems across multiple facility locations[77].

Rapid Micro Biosystems, Inc. (NASDAQ:RPID) Q4 2024 Earnings Conference Call February 28, 2025 8:00 AM ET Company Participants Mike Beaulieu – Vice President, Investor Relations and Corporate Communications Rob Spignesi – President and Chief Executive Officer Sean Wirtjes – Chief Financial Officer Conference Call Participants Dan Arias – Stifel Paul Knight – KeyBanc Brendan Smith – TD Cowen Operator Thank you for standing by. My name is Eloisa, and I will be your conference operator today. At this time I wou ...

Rapid Micro Biosystems, Inc. (RPID) came out with a quarterly loss of $0.22 per share versus the Zacks Consensus Estimate of a loss of $0.24. This compares to loss of $0.26 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 8.33%. A quarter ago, it was expected that this company would post a loss of $0.26 per share when it actually produced a loss of $0.26, delivering no surprise.Over the last four quarters, the company has surpa ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported): January 14, 2025 (Commission File Number) (I.R.S. Employer Identification No.) 978-349-3200 (Registrant's telephone number, including area code) Not Applicable (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K filing is intended to sim ...

Reports record fourth quarter 2024 total revenue of $8.2 million, representing 30% growth compared to fourth quarter 2023; recurring revenue increased by 27% compared to the fourth quarter of 2023.Announces full year 2024 total revenue of $28.1 million, representing 25% growth compared to 2023; recurring revenue increase by 14% compared to 2023.Reports record fourth quarter gross margin of 12%, representing a 15-percentage point improvement over the fourth quarter of 2023; full year 2024 gross margin increa ...

Significantly extends commercial reach of Growth Direct through expanded global sales channels; enables opportunities for collaboration on supply chain efficiencies, services, and joint product development.LEXINGTON, Mass., Feb. 27, 2025 (GLOBE NEWSWIRE) -- Rapid Micro Biosystems, Inc. (Nasdaq: RPID) (the “Company” or “Rapid Micro”), an innovative life sciences technology company providing mission critical automation solutions to facilitate the efficient manufacturing and fast, safe release of healthcare pr ...

Core Insights - Rapid Micro Biosystems, Inc. is an innovative life sciences technology company focused on providing automation solutions for the efficient manufacturing and safe release of healthcare products [3] Company Overview - The company specializes in automation solutions for microbial quality control (MQC) testing workflows in pharmaceutical manufacturing, enhancing efficiency and compliance [3] - Its flagship product, the Growth Direct system, modernizes traditional MQC testing, delivering faster results and greater accuracy [3] - Rapid Micro Biosystems is headquartered in Lexington, Massachusetts, with manufacturing in Lowell, Massachusetts, and additional locations in Switzerland, Germany, and the Netherlands [3] Upcoming Events - The company will present at the TD Cowen 45 Annual Health Care Conference on March 4, 2025, at 11:10 a.m. ET in Boston, Massachusetts [4] - A virtual question-and-answer session will take place at the KeyBanc Capital Markets Healthcare Forum on March 19, 2025, at 11:15 a.m. ET [4]

Company Overview - Rapid Micro Biosystems, Inc. is an innovative life sciences technology company focused on providing automation solutions for the efficient manufacturing and safe release of healthcare products [3] - The company specializes in products such as biologics, vaccines, cell and gene therapies, and sterile injectables [3] - The flagship product, Growth Direct system, modernizes microbial quality control testing workflows in pharmaceutical manufacturing, enhancing speed, accuracy, and operational efficiency [3] Financial Results Announcement - The company will release its fourth quarter and full year 2024 financial results on February 28, 2025, prior to market opening [1] - A webcast conference call will be hosted by the management team at 8:00 a.m. ET on the same day, with live audio accessible on the company's website [2] Global Presence - The company is headquartered in Lexington, Massachusetts, with manufacturing operations in Lowell, Massachusetts, and additional locations in Switzerland, Germany, and the Netherlands [3]