Maxcyte continues to build on 'substantial momentum'
Maxcyte (DI)
305.00p
16:55 24/04/24
Clinical-stage life sciences company Maxcyte continued to build upon its "substantial momentum" during the first half of its trading year, putting it firmly in line with expectations for the full year.
Maxcyte made "significant progress" both clinically and commercially in the first half, generating revenues of $8.4m via licensing deals in the six months ended 30 June, up 21% year-on-year.
The AIM-listed group, which now has 80 cell therapy programmes with potential milestone payments worth as much as $250m after having partnered with the likes of Gilead, CRISPR Therapeutics and Precision BioSciences, recently launched a next-generation suite of instruments and disposables called ExPERT - which received "positive feedback and strong interest" from both existing and new customers.
On the clinical side, Maxcyte's research and development team started work on a phase I trial on MCY-M11, aimed at treating very hard to treat cases of ovarian cancer peritoneal mesothelioma.
Chief executive Doug Doerfler said: "We look forward to providing a more detailed update at our half-year results in September 2019, and on our continued progress throughout the second half of the year."
As of 1050 BST, Maxcyte shares had dipped 1.57% to 125p.