4 or 5 more commercializations? Just to be perfectly clear, there is a difference between filings and commercializations. Once a company files, it can take the regulatory authority 6 months or longer to reach a decision. Then, a commercialization will only happen IF the filing is approved, and even then, it will take a few more months to prepare and ramp. At this point, even if a filing happens today, Cryoport will not see commercial revenues for almost a year.
And to keep management honest, during the Q4 conference call on March 6th, this is a direct quote from the CEO Jerrell Shelton: “As a result of the anticipated number of accelerated United States Biologic License Applications and European Medicine Agency filings from our current clients, and based on public reports, we are increasing our projected number of combined BLA and EMA filings. Previously, we anticipated supporting two to four additional therapies during 2018; we now think that number is five to seven therapies.”
Then, during the Q1 conference call on May 3rd, Jerrell Shelton said “we anticipate supporting a further 5 or 6 additional BLA or EMA filings in 2018 based on internal information and a forecast from the alliance of regenerative medicine in addition to Kymriah’s second indication approval which I mentioned earlier."
But to answer your question, yes the year is half over and Cryoport clients have filed exactly 0 times so far this year, so yeah it would good to have at least 1 filed by now. They did actually hype the expectation of one (BLUE EMA filing) on Twitter yesterday.
It’s actually a good thing management doesn’t provide earnings guidance. They continue to over promise and under deliver.
