Another year of strong delivery as CARMA approaches the clinic
Lighthouse | 4 April 2018
Trinity Delta view: MaxCyte continues to execute its strategy successfully, delivering double digit growth for a third consecutive year, while also achieving a significant milestone in filing the IND for its first CARMA therapy, MCT-M11. The challenges of filing the IND should not be underestimated; CARMA is a novel cell therapy and the FDA takes a more cautious approach with such treatments.
We forecast that MaxCyte will continue to deliver strong growth in FY18 with sales increasing by 21% to $17.0m, as it benefits from the expansion of the advanced cell therapy/CRISPR field. Interest in its CARMA platform should also grow this year with MCY-M11 entering Phase I development. Our valuation of MaxCyte is £166m or 327p/share.
4 April 2018
|Primary exchange||AIM London|
|Company Code||MXCT.L / MXCR.L|
MaxCyte uses its patented flow electroporation platform to transfect a wide array of cells. Revenues arise from sale and lease of equipment, disposables and licence fees; with an impressive client list. Additionally, a novel mRNA mediated CAR technology, known as CARMA, is being explored in various cancers, including solid tumours.
Mick Cooper PhD
+44 (0) 20 3637 5042
+44 (0) 20 3637 5043
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