logo-loader
HealthPharma & Biotech
MaxCyte

MaxCyte says earnings likely to beat expectations after bumper end to the year

Revenues increased 19% year-on-year to US$16.7mln in the 12 months to December 31, with top-line growth of 25% in the second six months

ovary pictured using electron microscope
The company's first drug candidate is being developed to tackle hard to treat forms of ovarian cancer

MaxCyte Inc (LON:MXCT) has said its underlying earnings (EBITDA) are likely to show “an improvement on market expectations” after a bumper end to the year.

Revenues increased 19% year-on-year to US$16.7mln in the 12 months to December 31, with top-line growth of 25% in the second six months. Looking ahead, the company said expects it to maintain the momentum in 2019.

MaxCyte is developing a new cancer treatment, but also licenses out the technology to larger biotechs and pharma companies, including the international giant Gilead, to aid their discovery process.

It is involved with 70 programmes, of which half are at the clinical stage of development.

Combined potential milestone payments for deals signed are US$250mln, the company said in its trading update.

CARMA 

MaxCyte’s CARMA platform is being used to develop some of the first drug candidates that use the company’s own immune system to fight solid tumours.

Currently, the batches of drugs in development have focused on blood-borne disease.

Its lead chimeric antigen receptor therapeutic candidate, MCY-M11, entered phase I clinical trials in October.

It is being used to treat people women with relapsed, or refractory (hard to treat) ovarian cancer and peritoneal mesothelioma, which affects the lining of the abdomen.

“This continues to be a very exciting time for the company and patients as we bring a new generation of CAR-based solid cancer treatments into the clinic for the first time. We look forward to the future with great confidence," said chief executive Doug Doerfler.

Quick facts: MaxCyte

Price: £1.22

Market: AIM
Market Cap: £69.9 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of MaxCyte named herein, including the promotion by the Company of MaxCyte in any Content on the Site, the Company receives from said issuer...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

MaxCyte Inc gearing up for phase I study of potential cancer breakthrough

Doug Doerfler, chief executive of MaxCyte Inc (LON:MXCT), tells Proactive they're in a strong financial position as they prepare for the launch of a phase I clinical trial of a cancer treatment which helps to deploy the body’s own immune defences to combat strains of the killer...

on 23/1/18

2 min read