Robust Cell Therapy performance lifts FY22 guidance
Lighthouse | 23 May 2022
Trinity Delta view: MaxCyte remains well positioned and well-funded to continue to support and expand the adoption of its enabling technologies and expertise in cellular based research and development of next-generation gene edited cell therapies. Q122 revenues indicate both robust demand from cell therapy customers and the implied clinical progress at SPL partners. FY22 guidance for the core business is now ahead of MaxCyte’s five-year revenue CAGR (2017-21) of c 23%. We continue to view MaxCyte as a unique and diversified play on the whole cell engineering field, providing broad exposure across cell types, technologies, indications, and approaches. Our valuation is £1.06bn / $1.39bn, equivalent to 1,050p or $13.64 per share.
23 May 2022
|Primary exchange||AIM London|
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. Key programmes with several clients are gaining greater visibility and approaching material value-inflections points. These will trigger a stream of milestone fees.
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