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MaxCyte losses deepen after higher R&D spend

By BFN News | 02:33 PM | Wednesday 18 September, 2019


Cell-based therapies and life sciences company MaxCyte booked a deeper first-half loss after rising revenue was more than offset by higher R&D and marketing costs. Pre-tax losses for the six months through June amounted to $9.5m, compared to losses of $4.8m. Revenue rose 21% to $8.4m. 'We have seen a strong start to 2019 during which we have continued to drive substantial growth and progress across all aspects of our business,' chief executive Doug Doerfler said. 'Our revenue-generating Life Sciences business has performed strongly during the period delivering revenue growth of 21% and approximately 90% margins.' 'We are also particularly encouraged by the customer response to the recent launch of our industry leading ExPERT platform and the extension of our relationship with Kite through a multi-drug clinical and commercial agreement, which built upon our existing research agreement.' 'We continue to be very excited for the commercial prospects of our high-growth life sciences business.' At 2:33pm: (LON:MXCT) MaxCyte Inc share price was 0p at 122p Story provided by StockMarketWire.com

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