MaxCyte Inc on Tuesday said that promising returns from its strategic platform licence program had bolstered its quarterly revenue expectations.
MaxCyte is a Maryland, US-based provider of cell engineering platform technologies developing ‘next-generation cell therapeutics’.
The company expects revenue to be between $15.5 million and $15.7 million for the quarter ended December 31, up from $12.4 million a year before.
Of this, core revenue is expected to be between $7.0 million and $7.2 million, down from $10.6 million year-on-year.
It added that revenue from its SPL programme is expected to be around $8.5 million, up over four-fold from USD $1.9 million the same quarter last year. Over the past few years, MaxCyte signed a number of SPLs with companies such as Vertex Pharmaceuticals Inc, Lyell Immunopharma Inc and Walking Fish Therapeutics Inc, among others, to advance its cellular therapeutics.
These figures will bring MaxCyte’s anticipated total revenue for the full year to roughly $41.2 million, down slightly from $44.3 million in 2022. Core revenue is also expected to fall to around $29.7 million from $39.6 million for 2022.
However, total SPL programme-related revenue is expected to be around $11.4 million, up from $4.6 million.
As of December 31, MaxCyte estimates its cash reserves at around $210 million.
MaxCyte will release its full results for the quarter and year in March.
Shares in MaxCyte were up 6.6% at 378.25 pence each in London at midday on Tuesday.
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