Consolidating its leadership
Update | 13 July 2017
MaxCyte is maintaining its leading position in the field of flow electroporation, an enabling technique for many advanced cell therapies. There are now over 45 cell therapies in development that use MaxCyte’s proprietary technologies, and data published so far this year continue to highlight the utility of MaxCyte’s instruments. The company signed a commercial licensing deal in March, and many more could be signed in the coming years. For a number of reasons revenue growth slowed to 13.5% in H117, but we expect significantly stronger growth in H217. We maintain our valuation at £178m, or 351p per share.
|Adj. PBT ($m)||(1.4)||(3.3)||(11.1)||(13.6)|
|Net Income ($m)||(3.5)||(3.9)||(11.1)||(13.6)|
|Adj. EPS (c)||(186.4)||(10.0)||(22.4)||(26.7)|
13 July 2017
|Shares in issue||50.8m|
|12 month range||81.5p-305p|
|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 20 3637 5041
Exhibit 1: Summary of financials
Source: MaxCyte, Trinity Delta Note: Adjusted numbers exclude exceptionals. No commercial licensing deals are included in our forecasts
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