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Same to you. Hoping for at least a double this year to the $8 level.
Nice news with the Moffitt Cancer Center
More good news from one of our customers. http://www.businesswire.com/news/home/20161212005345/en/Kite-Pharma-Announces-Publication-T-Cell-Therapy-Targeting
Thanks, great news!
FYI:
CYRX: Record Revenue, Inching Closer To Supporting Commercialized Product
Zacks Small Cap ResearchNovember 28, 2016Comment
By Brian Marckx, CFA
NASDAQ:CYRX
Q2 Fiscal 2017: Inching Closer To Supporting Commercialized Product…
Cryoport (CYRX) reported financial results for their fiscal 2017 second quarter ending September 30th and provided a business update. Revenue continues to track our estimates, remains relatively strong and set a new high. This is the also the 8th straight quarter of consecutive revenue growth. CYRX continues to grow their customer base and the number of clinical trials that they are supporting – and while revenue has ticked up at a fairly consistent rate over the last few years, CYRX has yet to book any sales related to support of a commercialized product. When that happens – which is inching closer to reality with two clients expected to file BLA’s in the coming months and completion of regulatory requirements related to supporting commercialization of the multi-billion dollar product of the (previously unnamed) large pharma customer expected to be upcoming – revenue could accelerate much more significantly.
Q2 revenue, at $2.0M, is up 38% yoy and inline with our $1.9M estimate. It is also a new record and up 3% from fiscal Q1 2017. Fueled by the consistent addition of new clients, greater overall utilization, progression of customers’ clinical trial programs and exponential growth of immunotherapy development, the biopharma segment continues to account for the vast majority of CYRX’s revenue and is driving most of the top-line growth. Biopharma revenue grew almost 64% yoy and accounted for about 70% of total revenue. With another 30 customers added during Q2 and expanding the number of clinical trials that CYRX is supporting to 100+ (from 90 as of August), including 16 phase III studies (up from 14 in August), the company continues to build a high-opportunity customer base.
From a total revenue perspective, and even more from a biopharma-related revenue perspective we think 1H 2017 should provide some confidence that at least the foundation of base demand for the company’s offerings, represented by net growth in the customer base, continues to incrementally solidify. As we have indicated in our ongoing coverage of CYRX, solidifying a sufficient customer base foundation is a key step towards initial realization of the leverage that is inherent in Cryoport’s business model. While the potential for variability in shipping volumes and related services, particularly as it relates to clinical trials (as well as for commercialized products), presents the possibility that revenue may be somewhat irregular quarter-to-quarter, we think recent financial performance including the streak of eight straight quarters of sequential revenue growth provides additional validation of the stickiness of customer wins and our theorized incremental notching up of the revenue floor.
We also think there is growing evidence of solidifying pre-operating leverage – as represented by gross margin improvement. Gross margin averaged almost 41% in 1H 2017, the highest on record both a quarterly and six month basis. The next best was 37.4% in fiscal Q4 2016. On an annual basis, gross margin has exhibited consistent improvement over the last few years – from 16.4% in 2014, to 29.7% in 2015 and to 32.1% in 2016. While we also think there may be some short-term volatility in gross margin, the trends are highly encouraging.
The next major milestone will be to see improvement in operating leverage. Clearly investments in people, processes and technology have shown up in the revenue growth. SG&A expense was $5.4M in 1H 2017, or about 138% of revenue – which is the best in company history. We expect this will move around as well. But, coupled with expectations of consistent revenue growth and firming up in gross margins, we think there are a lot of positive signs that suggest CYRX is creeping ever closer to the inflection point where operating income begins to improve on a regular basis.
Cash
Cash used in operating activities (ex-changes in working capital) was $1.2M and $2.4M in the three and six months ending 9/30/16. Cash balance at quarter end was $2.6M. In addition, subsequent to quarter-end CYRX raised approximately $3.7M (gross) from warrant tenders and exercises.
Inching Closer to Supporting Commercialized Product…
CYRX should not only benefit from onboarding of additional clinical trial clients and progression of currently supported programs to later stages but even more significantly from supporting these candidates if and when approved and commercialized. Management noted on the Q2 call that they are in late-stage discussions with several phase III clients related to commercialization and launch requirements – two of which expect to file Biologic License Applications (BLA) “in the coming months”. One of these is Kite Pharma which (per that company’s Q3 earnings release on November 9th) expects to initiate a rolling BLA submission for KTE-C19, a chimeric antigen receptor, to FDA for accelerated approval for aggressive Non-Hodgkin Lymphoma next month. If all goes well Kite believes they could have FDA approval and launch next year. CYRX noted that they are supporting all of Kite’s current clinical trials including for their T cell receptor candidate being developed for the treatment of solid tumors.
In addition to these expected BLA candidates, the other potential near-term commercial-product related revenues could come from CYRX’s previously announced relationship with a big pharma customer – which was revealed to be Bristol-Myers (BMY). CYRX is still somewhat tight-lipped on exactly what their role will be, although management said that they will be involved in the “cryogenic component” and will generate revenue from management fees as well as on a per-shipment basis. The specific drug that the agreement relates to has also not been disclosed, although we do know it is a multi-billion dollar monoclonal antibody - which could suggest it relates to BMY’s coveted oncology portfolio (either owned or licensed by BMY). Revenue related to this relationship is expected to commence following completion of quality and regulatory requirements. We think this could be a good litmus test and potentially lead to additional follow-on services either directly related to the existing agreement or with other of BMY’s products.
While the delay in kicking this program off with BMY is somewhat of a disappointment, we think that the reasons behind it may actually be a benefit to CYRX in the long-run. Management provided some interesting insight on the Q3 call relative to the strict regulatory requirements and procedures that FDA mandates for shipping biological material in order to ensure reproducibility and integrity of the cargo is maintained. Even slight changes to the shipping method or container can require demonstrating in a study that these changes resulted in no adverse consequences to the cargo.
We think that while these strict regulatory requirements, which are perhaps somewhat of an irritant in this situation with BMY, may prove to be beneficial as they may act as a barrier to competition. CYRX’s clinical trial clients have already validated the company’s storage and shipping process, procedures, methods, logistics and packaging/containers. As such and given the additional regulatory hoops necessary to switch to a different shipping and related services provider, they have an additional reason to utilize CYRX upon commercialization of their products. And while this may be viewed as somewhat of a hurdle to CYRX scoring other late-stage clinical trial customers (or those with an already commercialized product) which are currently utilizing a competing shipping/logistics/storage provider, CYRX’s expertise, reputation and history should work in their favor. And clearly the BMY agreement suggests that companies are willing to switch to CYRX despite the regulatory burden of doing so – which we view as additional validation of the superiority of Cryoport’s offerings and abilities, particularly as it relates to product safety and integrity.
Additional Validation of CYRX’s Capabilities…
CYRX has recently been much more deliberate in their efforts to exploit their technological, logistics and expertise advantages in building their customer base. Long conversion timelines related to customers kicking the tires (i.e. validation) on CYRX’s services has meant that eventual adoption can be a drawn out process. But a study conducted in collaboration with KCAS Bioanalytical and Biomarker Services (KCAS) and Heat Biologics comparing different shipping systems, including dry ice and CryoPort Express, and the impact on the integrity of biological cargo could provide another compelling marketing message and help to speed customer onboarding.
The study found that more than one-third of biomarkers shipped by dry ice were negatively impacted. These temperature excursions often result in compromised integrity of biological material and in cell viability. Management noted on the Q3 call that results from this study have already helped to generate interest from additional potential pharma and biotech customers. This type of validation should facilitate greater and more widespread acceptance of Cryoport as the preeminent provider of cryogenic shipping.
CYRX also appears to be gaining more widespread attention in the industry as a whole and in October won the “2016 Cold Chain Global Forum Excellence Award” in the category for "Most Effective Risk Assessment, Evaluation and Mitigation for Transportation". Specifically the award related to CYRX’s complete turnkey solution for a client’s fleet of cryogenic shipping requirements for animal vaccines (while not mentioned, likely relates to Zoetis) - which resulted in the customer saving an estimated $1.6M in annual costs.
Revenue Opportunity Grows with Later Stage Trials, Commercialization
CYRX's clinical trial pipeline has rapidly grown, from supporting 52 studies as of November 2015 to 59 (including 10 in phase III) at February to 78, including 13 in phase III at June 2016 to 100+ including 16 in phase III, today. We think garnering this number of clinical trials in a relatively short period is a powerful endorsement for CYRX's capabilities. Opportunity in this segment is where we continue to see the bulk of CYRX revenue growth emanating from, particularly in the near-to-mid terms.
And while supporting clinical trials can be a meaningful revenue contributor, logistics and shipping support for a commercialized product could be much more significant. For reference management estimates that the potential revenue range for support of a phase I program is $15k - $75k, phase II is $50k - $150k, phase III is $200k - $1M and for a commercialized product is $3M - $20M.
A large study assessing clinical development success rates found that approximately 50% of phase III candidates and 85% BLA/NDA submissions are ultimately approved for sale in the U.S. by FDA. Assuming these ratios prove to be consistent with the outcomes of CYRX’s current clinical trial customer’s development experiences and given our supposition (above) that regulatory burdens provide barriers to switching to another shipping/logistics/storage provider upon commercialization, we might expect that CYRX could be supporting as many as eight commercialized products from their current phase III customers and one of the two (upcoming) BLA candidates within the next 12 – 36 months. As noted, the first of these could potentially launch next year. As CYRX’s clinical customer pipeline grows, including into later stages, so does their shots on goal and opportunities for additional revenue growth.
Synergistic Opportunities…
We think the impetus for CYRX's recent move into new synergistic ventures including the partnership with Worthington Industries (Taylor-Wharton), launch of a logistics consulting division and entry into the bio-storage market via a partnership with Pacific Bio-Material Management was not just related to increasing the volume of revenue-generating opportunities but also likely to expand their capabilities to better support their existing and growing client base. The BMY relationship fits this theme and potentially allows CYRX to better support a greater portion of the cold shipping and storage value chain. It also affords CYRX opportunity to broaden their marketing and capabilities message to one where they will be involved in the entire end-to-end shipping, bio-storage and logistics process, providing the value-add of one-stop shop and customer security that responsibility for payload remains at a single point of contact.
CYRX recently expanded menu of capabilities includes…
- Bio-Storage: June 15th CYRX announced a partnership with Pacific Bio-Material Management Inc whereby they will now provide bio-storage. CryoPort Biostorage will provide cryogenic storage, fulfillment and transportation of biological material. We view biostorage as a particularly critical portion of the cold shipping/storage value chain as this provides not only synergistic benefits to CYRX's shipping and logistics capabilities but also means that they maintain possession of customers' cargo from collection, transport and storage - value-add that can be critical to a customer. CryoPort Biostorage launched in June
- Laboratory Relocation Service: concurrent with the biostorage announcement, CYRX noted that they will provide a lab relocation service whereby they will provide safe and secure transport of complete laboratories. The lab relocation service launched in June
- Worthington Industries Partnership: on April 13th CYRX announced a partnership with Worthington Industries (WOR), a $2B+ (market cap) metals manufacturing company which diversified into cryogenic containers for shipping and storage with the December 2015 purchase of Taylor-Wharton’s CryoScience business. CryoScience’s product page can be found at this link (http://worthingtonindustries.com/Products/CryoScience-Products).
While CYRX has not provided specifics what the partnership will entail, they have noted that Worthington “will design and manufacture biostorage and logistics equipment for use in Cryoport's life sciences cryogenic logistics solutions.” CYRX has further indicated that Worthington may be involved in manufacturing next-gen Cryo shippers for CYRX as well as potentially biostorage products. Biostorage would move CYRX into another and new (to them) part of the cryogenic value chain. While this is not necessarily in the company’s ‘wheelhouse’ of expertise it is complementary to their core business and represents a potential new revenue opportunity. It also would have synergistic sales/marketing benefits such as being able to detail the offering at the same call points as their shipping and logistics services (i.e. – it’s an ‘add-to-the-bag’ opportunity) .
- Logistics Consulting Service Launched: on April 11th CYRX announced formation of a Temperature Controlled Logistics Consulting Division aimed at helping cell-based life sciences companies navigate the intricacies of global cold chain shipping and storage. Tamie Joeckel, who joined CYRX earlier this year and who has significant expertise in pharmaceutical shipping and logistics is heading the newly formed division. We have yet to model any potential contribution from this new logistics consulting business and expect to hear more details about it from the company in the near future. CYRX noted on the Q1 call that the logistics consulting service is now operational
Among the highlighted announcements related to new accounts are;
- Feb 16: will manage shipping of solid tumor samples and Perseus PCI’s immunotherapy cancer vaccine for their melanoma and ovarian cancer clinical trials from the company’s lab in South Carolina to various U.S.-based clinical sites.
Per clinicaltrials.gov (https://clinicaltrials.gov/ct2/show/NCT02301611), a phase IIb melanoma clinical trial is underway and expected to enroll a total of 120 stage III and IV melanoma patients. Clinicaltrials.gov lists 14 clinical sites that are currently recruiting for this melanoma study. We were unable to find publicly available information (Perseus is privately held) on the ovarian cancer program.
- March 3: will support cryogenic logistics of ImmunoCellular Therapeutics’ (IMUC) randomized phase III glioblastoma clinical trial of its cancer immunotherapy candidate, ICT-107. The trial will be conducted at 120 clinical sites in North America and Europe. Per clinicaltrials.gov (https://clinicaltrials.gov/ct2/show/NCT02546102?term=ICT-107&rank=2) estimated enrollment is 414 patients. Per CYRX, this is one of the largest clinical trials that the company has supported. Given the relatively large patient size and clinical site diversity, we view this study in particular as another meaningful vote of confidence in CYRX’s shipping and logistics capabilities and reliability in maintaining the integrity of clinical trial samples and, importantly, being able to validate this. Assuming CYRX’s success in meeting IMUC’s requirements, the scope of this type of contract is one which affords ‘feather-in-cap’ status in our opinion and one which can be influential for marketing the company’s capabilities.
- April 4:: ProteoGenex will use CYRX’s solutions for shipment of their biological specimens. ProteoGenex is a Culver City, CA-based biorepository (“over 200k individual biomaterials”) which provides specimens of human tissue and blood and other fluids for clinical trials and other research purposes. ProteoGenex’s website touts their quality control program, speed and reliability, size and quality of its biorepository and the fact that its specimens have been used in hundreds of peer-reviewed research publications as reasons why customers should use its products. CYRX’s press release announcing the new account states that ProteoGenex will abandon their legacy dry-ice shipping method in favor of CryoPort’s and that the two companies are in process of making that transition.
- May 6: Cryo Store B.V., a Dutch provider of biostorage, packaging and logistics has agreed to use CYRX for end-to-end cryogenic shipping and logistics for biomaterial shipping to and from its pharmaceutical customers.
- May 23: CYRX, utilizing their S. California and Singapore depots, will provide logistics support for International Stem Cell Corp's phase I clinical trial in Australia for their Parkinson's disease candidate.
- June 8: Tissue Solutions, a tissue biobank with a global customer base, will use CYRX's logistics, dewars and Smart Pak II monitoring system to ship tissue from collection sites to clients based all across the world.
- August 2: “One of the world’s foremost (unnamed) contract manufacturers to the biopharma industry ("the Client") will convert its fleet of liquid nitrogen dewars supporting shipping of its contract manufacturing biologics and cell therapy businesses to Cryoport's industry-leading and comprehensive logistics solutions.” CYRX has not disclosed specifics in terms of the scope or expected volume of services related to this relationship although we hope to hear more in the future
- August 11: Stemedica Cell Technologies, which has used CYRX services since last year, recently entered an agreement for CYRX to support that company’s phase II clinical trial (n=40) for their allogenic stem cell candidate for the treatment of Alzheimer’s
- September 22: Integrated Solution with Database Integrations: CryoPortal integrated into Database Integration’s Integrated Cell Therapy Automated Network (iCAN) scheduling platform. Integration allows for seamless scheduling, manufacturing and transport of cell-based therapies.
- November 3: CYRX will provide logistics services to Lattice Biologics and their AmnioVisc joint-relief product which is derived from amniotic fluid)
We cover CYRX with a $3/share price target. See below for access to our updated report on the company.
For a free copy of the full research report, please email scrinvestors@zacks.com with CYRX as the subject.
SUBSCRIBE TO ZACKS SMALL CAP RESEARCH to receive our articles and reports emailed directly to you each morning. Please visit our website for additional information on Zacks SCR and to view our disclaimer.
This is one of our customers. Currently up $3.17 from 7 cents this morning.
ImmunoCellular Therapeutics Reports Updated Immune Monitoring Data from ICT-107 Phase 2 Trial in Newly Diagnosed Glioblastoma at the Society for Neuro-Oncology Annual Meeting 2016
http://www.otcmarkets.com/stock/IMUC/news
I believe the press release stated 3.7 million
Cryoport offers warrant holders special deal to raise capital
Aug 12 2016, 06:53 ET | By: Douglas W. House, SA News Editor Contact this editor with comments or a news tip
With the aim of raising capital to support operations, thinly traded nano cap Cryoport (NASDAQ:CYRX) is offering holders of its warrants to purchase common stock at $3.57 a special incentive to exercise. For a limited time (until September 16), one original warrant can be exchanged for a new warrant to purchase one share of common at $1.50 with the proviso that the new warrant is exercised immediately. In addition, holders will receive one additional warrant to purchase one share of common at $3.00 for every four new warrants exercised.The original warrants were issued in July 2015 as part of its $6.5M capital raise.Yesterday's close was $2.15.Previously: Cryoport prices equity offering; shares off 33% premarket (July 24, 2015
Does anyone even care anymore?
2.50 bid vs. 2.81 ask. Someone is likely to paint the tape one way or another at the close.
150,000 shares traded by noon. What up?
Worthington alliance could be one of the better moves they've made in a while.
Other than ARGS and IMUC does any know the names of other companies we are on board with that are in Phase 3 trials?
Cryoport to Report Third Quarter Fiscal 2016 Financial Results on February 8th
PR Newswire Cryoport, Inc.
13 hours ago
????
IRVINE, Calif., Feb. 2, 2016 /PRNewswire/ -- Cryoport, Inc. (CYRX) ("Company"), today announced that the Company will release financial results for the third quarter fiscal year 2016 ended December 31, 2015 on February 8, 2016 before the market opens.
The Company will host a conference call at 9:30 am ET on February 8, 2016 to review its financial results and business outlook. Participants should call 1-888-438-5525 (United States) or 1-719-325-2491 (International) and request the "Cryoport call." A live audio webcast of the call will also be available on the Investor Relations section of the Company's website at www.cryoport.com. Please allow 10 minutes prior to the call to visit this site to download and install any necessary audio software.
An archive of the webcast will be available approximately two hours after completion of the live event and will be accessible on the Investor Relations section of the Company's website at www.cryoport.com for a limited time. A dial-in replay of the call will also be available to those interested until February 15, 2016. To access the replay, dial 1-877-870-5176 (United States) or 1-858-384-5517 (International) and enter replay pin number: 8499340.
We may have to buy some more lube.
Home > Market Activity > Earnings Calendar > CYRX Earnings Date
CYRX Earnings Date
Earnings announcement* for CYRX: Nov 16, 2015
CryoPort, Inc. is expected* to report earnings on 11/16/2015 before market open. The report will be for the fiscal Quarter ending Sep 2015. According to Zacks Investment Research, based on 1 analysts' forecasts, the consensus EPS forecast for the quarter is $-0.29. The reported EPS for the same quarter last year was $-0.6.
Read more: http://www.nasdaq.com/earnings/report/cyrx#ixzz3rEfXy4gw
AMEN, that makes 2 of us.
Thanks,I feel much better now. I'll just head over to the rink and watch the Red Wings practice.
WTF? (4)To amend the Company’s Amended and Restated Articles of Incorporation to increase the number of authorized shares of the Company’s common stock from 20,833,333 shares to 50,000,000 shares (the “Authorized Shares Proposal”);
Maybe they are as dumb or dumber than us to by at those prices.
Um, my post was meant to be tongue in cheek
Do I have the situation correct? Realty is an Aegis operative and Coldasice is with CryoPort.
Congrats to Old timer and others who got out of this stock last month.
Thanks
"I do give Rathman and Shelton a lot of credit for telling them to take a hike". I don't understand what you mean.
I sent them an email about 1 month ago and never heard back from them. Not very professional at all.
Thanks, we should see earnings in the next 10 days.
Why are you bullish that we will reach 12 million?
Cryoport: A Niche Player That Doesn't Know It
Jun. 15, 2015 4:00 PM ET | 1 comment | About: CryoPort, Inc. (CYRX)
Disclosure: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. The author wrote this article themselves, and it expresses their own opinions. The author is not receiving compensation for it (other than from Seeking Alpha). The author has no business relationship with any company whose stock is mentioned in this article.
Summary
The company has either over estimated its market or a poor job of spreading awareness.
A mostly unsubstantiated 300% increase in revenue is being projected for this coming year.
Past increases in revenue have provided zero progress toward profits.
Cryoport (OTCQB:CYRX) specializes in cryogenic transportation and logistics. The company can, using what are known as dry vapor shippers, provide much colder and much more consistent temperatures for highly sensitive materials used in the fields of scientific research, in vitro fertilization, stem cell therapy, and animal husbandry. They also have an all in one solution for initiating shipments, tracking, and trouble shooting which can be especially helpful when biological materials are being moved across multiple international borders.
Over the past year, the company has signed several key agreements with both shippers, such as UPS (NYSE:UPS) and DHL, and science companies like CombiMatrix (NASDAQ:CBMX) and NeoStern.
It's hard to argue that Cryptoport doesn't have some momentum behind it, but there are a few things which give me serious concern when evaluating this business. First, there is the purported size of the market vs. Cryoport's current revenue. On the 2015 Q3 conference call CEO Jerrell Shelton asserted that the industry comprised a robust $1.7 billion. An investor on the call balked at this number leading to the following exchange:
What would you think would be the market is now obviously it's not that big today?"
Jerrell Shelton - President and CEO: It's about $1.7 billion today.
The incredulity of the investor makes sense. If true, then Cryoport's share of the market is only slightly bigger than 1/1000th. Shelton is spinning this as a good thing as it leaves enormous room for growth, but it seems more likely that it's a sign that either the company or the product has major issues.
When asked about why Cryoport had achieved such a small portion of that 1.7 billion, all Shelton could say was:
The answer is generally it's unfamiliarity. People just don't know about our capabilities or CryoPort. It's amazing when I talk with scientists and our companies around the world they're just are unfamiliar with us with our capabilities and the company.
So, the best case scenario is that Cryoport is horrible at marketing. Their product is not brand new. It is several years old, so there's been plenty of time for companies and laboratories to hear about their solution. Additionally, in that time, it is not like items needing to be shipped at -150 degree temperatures were simply not sent, laying waste to the claim that, "there is no head to head competitor in the marketplace today to our knowledge. That's why we think that we are considerably ahead of the curve."
Maybe Cryoport has a marginally better product, but there must be an alternative out there that people are satisfied with. Otherwise, their market share would be significantly more than the rounding error that it is today.
Despite the industry's ignorance of Cryoport's products, Shelton is expecting massive growth for the company in the coming year. The guidance that he gave in February was, "I am pleased to give you our fiscal year 2016 revenue guidance of $12 million," which entails a 300% increase.
Later, he explained the methodology behind that number stating:
the way we look at our forecast, is we break it down into two large buckets. One is projection and that's of the existing customer base and the second part of that is prediction. And this is a large increase. So there is going to be more based on prediction and simple projection. We will grow in our existing customer base significantly, but most of the forecast is based on prediction based on the pipeline and the level of activity that we are currently experiencing and that will result in sales.
Notably, this prediction was made a the end of the third rather than fourth quarter, so Cryoport didn't even have the advantage of relying on a couple months of activity to base their projections on.
Essentially the company has given guidance despite the fact that, what sounds like the vast majority of their anticipated sales, are dependent on people they have never conducted business with before. This wouldn't be a big issue were it not for Cryoport's inability to capture market share to date or their suspect claim about having no viable competitor.
Exacerbating this concern was the response Shelton gave when asked about what might cause the company to fall short of its lofty goals. Shelton stated, "the biggest risk is really one thing and it's one thing only and it lies with us and it's a matter of execution. ...So I think execution is our biggest risk." I totally agree with that assessment. It's just that with the industry remaining unfamiliar about an alleged nonpareil product, flawless execution seems unlikely.
Even assuming that the market is as big as advertised and that $12 million in sales is achieved, the company is still not in the clear. If there is one thing that the company has shown over the past three years, it's that they are spectacularly good at losing between $1 million and $1.5 million per quarter. It's almost uncanny. As the three charts below illustrate, revenues have increased, gross margins have increased, but the losses stay the same.
For every push the company has made to increase revenue, there has been a corresponding increase in SG&A. Headcount hasn't exploded, but it creeps enough to beat back any chance of turning a profit on operations. And it continues. To reach the $12 million level, management is touting, the "recently enhanced sales and marketing team," and "new global operation centers in Europe and Asia."
Cryoport has an impressive list of business partners, and a growing revenue stream. However, it seems highly likely that they are offering a product that is much more of a niche solution that the company is willing to admit. This makes me suspicious of their expectation of three fold growth in the coming year. Add to that their inability to progress whatsoever toward operating profitability and you have a company that, until they can provide evidence for their extraordinary claims regarding market size or revenue growth, I would stay away from.
Editor's Note: This article covers one or more stocks trading at less than $1 per share and/or with less than a $100 million market cap. Please be aware of the risks associated with these stocks.
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Guess you're on the short side of this one, or maybe need to slam the price down before the S1 is effective. Oh, have you ever heard of this new thing in oncology called immunotherapy? Probably don't know all this stuff is cryopreserved, do you, because you fail to mention it.
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CYRX VS. ETF ALTERNATIVES
ETFs TODAY 3 MTHS 1 YR YTD
CYRX 0% -90.0% -89.4% -88.6%
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IPS -0.5% 4.2% 0.6% 8.7%
UWM -0.6% 5.4% 17.7% 9.9%
RWJ -0.6% 3.9% 9.2% 4.4%
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Now that's funny!
Sorry for the double post
Directions from QUEST'S web site on frozen shipping. Amazing they don't recommend using CYRX rather than have their customers go through this:
Instructions for packaging frozen specimens are included in PACKING A SHIPPING COOLER FOR FROZEN SPECIMENS in the Appendix. Frozen specimens are advisable for international shipment unless contraindicated. Our Directory of Services lists acceptable specimen temperatures for individual assays and panels.
For additional specimen stability information, contact Client Services at 800-421-4449 or 661-799-6543 for international clients.
Seal box carefully with security tape.
Apply shipping label with the following information:
Return Address
Shipping Destination:
Quest Diagnostics Nichols Institute of Valencia
27027 Tourney Road
Valencia, CA 91355
U.S.A.
Attn: Accessioning
Apply “Dry Ice” Labels. (If required, see Figure C).
Apply yellow “0 degrees Celsius” label to the cardboard shipping box. (If required, see Figure E).
Complete a "Shipper's Declaration for Dangerous Goods" (See Figure D) form as per the GUIDELINES FOR COMPLETING "SHIPPER'S DECLARATION FOR DANGEROUS GOODS" in the Appendix following this section. Give the form to the transportation company when making a shipment. Apply "Infectious Specimen" labels as required.
A pro forma invoice is also required (See Figure G). (See Instructions for pro forma INVOICE in the Appendix). An original signed copy and a photocopy must be attached to the air waybill. An additional copy should be placed on the side of the box.
Ship package(s) prepaid via priority services (next flight out) with your Carrier.
When you ship the package(s), either fax our Distribution Services Department (661-799-5275) a copy of your pro forma invoice and the international air waybill or leave a voicemail message (661-799-6543, option 2) to notify our lab to expect an incoming shipment. You should provide the following information:
Client Name and Account #
Number of Boxes Being Shipped
Number of Specimens: ambient, refrigerated, frozen
Shipment Details:
Shipping Company (e.g., FedEx, DHL)
If Airline Carrier, then supply name, flight number and estimated time of arrival
Air Waybill number of the shipment
Date of shipment
SHIPPING PROCEDURES - ADDITIONAL INFORMATION
PACKING A SHIPPING COOLER FOR FROZEN SPECIMENS
Put a layer of dry ice (half the total quantity) on the bottom of the cooler.
NOTE: 2 kg of dry ice will last 20 hours. One solid piece lasts longer than several smaller pieces. Federal Express shipments should contain at least 5 kg of dry ice.
Place Quest Diagnostics Nichols Institute of Valencia specimen bag with specimens on top of dry ice.
Place the remainder of the dry ice on top of the specimens.
Fill excess space with paper towels or newspaper on top of the dry ice to serve as insulation.
Place shipping manifest on top of the insulation material.
Close the lid of the cooler and tape with clear shipping tape around 3 sides of the cooler. Leave the fourth side unsealed to allow dry ice gases (carbon dioxide) to escape.
Place the cooler in an appropriate shipping box, making sure to leave one side unsealed for dry ice gases to escape out of the shipping box.
Mark the net weight of the dry ice on the "Dry Ice" label (See Figure C) and affix it to the outside of the package near the shipping label. Additional "Dry Ice" labels should be applied to each side of the box.
Directions from QUEST'S web site on frozen shipping. Amazing they don't recommend using CYRX rather than have their customers go through this:
Instructions for packaging frozen specimens are included in PACKING A SHIPPING COOLER FOR FROZEN SPECIMENS in the Appendix. Frozen specimens are advisable for international shipment unless contraindicated. Our Directory of Services lists acceptable specimen temperatures for individual assays and panels.
For additional specimen stability information, contact Client Services at 800-421-4449 or 661-799-6543 for international clients.
Seal box carefully with security tape.
Apply shipping label with the following information:
Return Address
Shipping Destination:
Quest Diagnostics Nichols Institute of Valencia
27027 Tourney Road
Valencia, CA 91355
U.S.A.
Attn: Accessioning
Apply “Dry Ice” Labels. (If required, see Figure C).
Apply yellow “0 degrees Celsius” label to the cardboard shipping box. (If required, see Figure E).
Complete a "Shipper's Declaration for Dangerous Goods" (See Figure D) form as per the GUIDELINES FOR COMPLETING "SHIPPER'S DECLARATION FOR DANGEROUS GOODS" in the Appendix following this section. Give the form to the transportation company when making a shipment. Apply "Infectious Specimen" labels as required.
A pro forma invoice is also required (See Figure G). (See Instructions for pro forma INVOICE in the Appendix). An original signed copy and a photocopy must be attached to the air waybill. An additional copy should be placed on the side of the box.
Ship package(s) prepaid via priority services (next flight out) with your Carrier.
When you ship the package(s), either fax our Distribution Services Department (661-799-5275) a copy of your pro forma invoice and the international air waybill or leave a voicemail message (661-799-6543, option 2) to notify our lab to expect an incoming shipment. You should provide the following information:
Client Name and Account #
Number of Boxes Being Shipped
Number of Specimens: ambient, refrigerated, frozen
Shipment Details:
Shipping Company (e.g., FedEx, DHL)
If Airline Carrier, then supply name, flight number and estimated time of arrival
Air Waybill number of the shipment
Date of shipment
SHIPPING PROCEDURES - ADDITIONAL INFORMATION
PACKING A SHIPPING COOLER FOR FROZEN SPECIMENS
Put a layer of dry ice (half the total quantity) on the bottom of the cooler.
NOTE: 2 kg of dry ice will last 20 hours. One solid piece lasts longer than several smaller pieces. Federal Express shipments should contain at least 5 kg of dry ice.
Place Quest Diagnostics Nichols Institute of Valencia specimen bag with specimens on top of dry ice.
Place the remainder of the dry ice on top of the specimens.
Fill excess space with paper towels or newspaper on top of the dry ice to serve as insulation.
Place shipping manifest on top of the insulation material.
Close the lid of the cooler and tape with clear shipping tape around 3 sides of the cooler. Leave the fourth side unsealed to allow dry ice gases (carbon dioxide) to escape.
Place the cooler in an appropriate shipping box, making sure to leave one side unsealed for dry ice gases to escape out of the shipping box.
Mark the net weight of the dry ice on the "Dry Ice" label (See Figure C) and affix it to the outside of the package near the shipping label. Additional "Dry Ice" labels should be applied to each side of the box.
I agree. The 1.2 million in sales was a bigger disappointment to me than the 12:1 split. Anxiously awaiting next weeks information.
Are we trading today? I cannot get a quote anywhere.
Good luck to you. It has been so long since you have posted that I figured you had quietly sold and moved on. Take care.
Good find. Is there a legitimate reason the company would not put out an announcement regarding something as important as this?