Preliminary Full-Year 2024 Product Revenues Total $180.3 million, 15% Over 2023 Results and Exceed Prior Product Revenue Guidance
2025 Product Revenues Expected to be Between $194-$200 million, Reflecting 8%-11% Growth Year-Over-Year
Monday, January 13, 2025
NRx Pharma Applies to Uplist to the NASDAQ Global Market from the NASDAQ Capital Market
- Management believes uplisting has the potential to provide shareholders with improved liquidity
- Requires NRx Pharmaceuticals to meet certain listing requirements
- Company has advised NASDAQ that current shares outstanding is 15.7 million
Dynavax prelims, update
- Preliminary 2024 HEPLISAV-B® net product revenue grew 26% year-over-year to approximately $268 million
- Enrollment completed in Phase 1/2 shingles trial; top line results expected in Q3 2025
- New $30 million contract with U.S. Department of Defense to advance plague vaccine program
- Cash, cash equivalents and marketable securities were approximately $714 million as of December 31, 2024
4D cut to Market Perform from Outperform by BMO
Target to $15 from $40
https://finviz.com/quote.ashx?t=FDMT&ty=c&ta=1&p=d
QuidelOrtho prelims in line with views
Fourth Quarter 2024 Preliminary Unaudited Revenues
The Company expects total reported revenues for the fourth quarter of 2024 to be in the range of approximately $702 million to $707 million, which would be in line with its previously announced 2024 financial guidance, including Labs revenue which is also in line with expectations. Expected fourth quarter 2024 total reported revenues include:
“We closed the year on a positive note and expect to deliver top-line results above the mid-point of our 2024 financial guidance. Fiscal 2024 was an important year for our Company; we focused our team on our highest growth and profit opportunities, realigned our leadership team, and improved our cost structure by executing on significant cost-savings initiatives. We look forward to leveraging the results of these efforts as we move into fiscal 2025,” said Brian J. Blaser, President and Chief Executive Officer, QuidelOrtho.
The preliminary unaudited revenues described herein are based on management’s initial analysis for the fourth quarter ended December 29, 2024 and are subject to adjustments based on the Company’s completion of its year-end financial close process.
Conference Call Information
The Company expects to report its financial results for its fourth quarter and full year 2024 after the market closes on Wednesday, February 12, 2025.
Following the release of financial results, QuidelOrtho will hold a conference call beginning at 2:00 p.m. PT / 5:00 p.m. ET to discuss its financial results. Interested parties can access the call from the “Events & Presentations” section of the “Investor Relations” page of the Company’s website at https://ir.quidelortho.com/. Presentation materials will also be posted to the “Events & Presentations” section of the “Investor Relations” page of the Company’s website at the time of the call. Those unable to access the webcast may join the call via phone by dialing 833-470-1428 (domestic) or +1 929-526-1599 (international) and entering Conference ID number 356254.
A replay of the conference call will be available shortly after the event on the “Investor Relations” page of the Company’s website under the “Events & Presentations” section.
CVRx prelims, guidance
- Fourth quarter revenue expected to be $15.2 million to $15.3 million, representing growth of 35%
- Full year revenue expected to be $51.1 million to $51.2 million, representing growth of 30%
- Fiscal 2025 revenue expected to be between $63.0 million and $65.0 million, representing growth of 23% to 27%
Biolife Solutions prelims
Fourth quarter Cell Processing revenue increased 7% sequentially to $20.3 million
Unaudited revenue for FY2024 from Cell Processing of $73.5 million, exceeded the high end of previously raised guidance
BioLife Solutions, Inc. (NASDAQ: BLFS) ("BioLife" or the "Company"), a leading developer and supplier of bioproduction products and services for the cell and gene therapy (CGT) market, today announced 2024 fourth quarter and full year preliminary unaudited revenue from continuing operations.
Roderick de Greef, Chairman and CEO, commented, "2024 was a transformative year for BioLife Solutions, marked by solid execution and strategic clarity. We exceeded the upper end of our previously raised revenue guidance for cell processing, with the fourth quarter representing our fifth consecutive quarter of sequential revenue growth for this platform. The divestiture of our freezer and biostorage businesses further streamlined our operations and sharpened our focus as a leading pure-play enabler in the CGT market, positioning BioLife to meet the demands of this rapidly growing modality."
de Greef continued, "Our biopreservation solutions, embedded in 17 approved therapies, highlight our essential role in enabling lifesaving therapies and we expect that to accelerate as the sector continues to mature. As we look to 2025, the momentum in our core business coupled with our fortified balance sheet positions us to deliver sustainable growth and profitability, expand and deepen customer relationships, and create long-term value for our shareholders. We look forward to providing additional detail regarding our 2024 financial performance and outlook for 2025 on our earnings call in February."
Fourth Quarter and Full Year 2024 Preliminary Unaudited Revenue for Continuing Operations
- Preliminary and unaudited revenue for continuing operations for the fourth quarter of 2024 was $22.7 million, an increase of 31% from $17.4 million for the fourth quarter of 2023.
- Cell processing platform revenue was $20.3 million, up $5.5 million, or 37%, over the same period in 2023, and up 7% sequentially over the third quarter of 2024.
- Evo and Thaw platform revenue was $2.4 million, a decrease of $0.2 million, or 8%, from the same period in 2023.
- Preliminary and unaudited revenue from continuing operations for the full year 2024 was $82.3 million, an increase of 8% from $75.9 million for 2023.
- Cell processing platform revenue was $73.5 million, up $7.8 million, or 12%, from 2023.
- Evo and Thaw platform revenue was $8.7 million, down $1.4 million, or 14%, from 2023.
Reconciliation of Full Year 2024 Revenue Guidance to Preliminary Unaudited Revenue for Continuing Operations
During the fiscal year ended December 31, 2024, the Company divested its freezer business through the previously disclosed sales of its former subsidiaries Global Cooling, Inc. ("GCI") in April 2024 and Arctic Solutions, Inc. (doing business as Custom Biogenics Systems) ("CBS") in November 2024. The Company also divested its storage business through the previously disclosed sale of its former subsidiary SciSafe, Inc. ("SciSafe") in November 2024. Each of the divested businesses previously qualified as a discontinued operation.
As disclosed in our earnings release of November 12, 2024, our revenue guidance for fiscal year 2024 did not include anticipated results from GCI or CBS for that period. Our revenue guidance for fiscal year 2024 did include anticipated results from SciSafe for fiscal year 2024.
The table below reconciles our preliminary unaudited revenue from continuing operations as disclosed herein, plus preliminary unaudited revenue from the discontinued operations of SciSafe for fiscal year 2024 (through the date of its divestiture), to our previously announced revenue guidance range that included anticipated fiscal year 2024 results from SciSafe.
Product line | Preliminary (a) | Preliminary (b) | Preliminary (a) + (b) | Previously | Difference $ | Difference | |||||
Cell Processing | $ 73,535 | $ — | $ 73,535 | $72,000 - $73,000 | $1,535 - $535 | 2% - 1% | |||||
Evo and Thaw | 8,719 | — | 8,719 | ||||||||
SciSafe | — | 18,440 | 18,440 | ||||||||
Total Biostorage | 8,719 | 18,440 | 27,159 | $26,000 - $27,000 | $1,159 - $159 | 4% - 1% | |||||
Total | $ 82,254 | $ 18,440 | $ 100,694 | $98,000 - $100,000 | $2,694 - $694 | 3% - 1% |
(1) Column includes revenue from SciSafe through the date of its divestiture, which will be disclosed in the footnotes of our Form 10-K as a key component of the gain/loss from discontinued operations. This amount does not include revenues from GCI or CBS. |
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