Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks IPOs and placings
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
MaxCyte flags uptick in total fourth-quarter revenue
(Sharecast News) - Cell engineering company MaxCyte said on Tuesday that total fourth-quarter revenue was expected to be between $15.5m and $15.7m. The AIM-traded firm said that would mark a significant increase from the $12.4m reported in the same quarter in 2022.
It partly attributed the revenue growth to its strategic platform licence (SPL) programme, which was anticipated to generate about $8.5m, a substantial rise from $1.9m a year earlier.
However, core revenue was projected to decline, with estimates between $7m and $7.2m, compared to $10.6m year-on-year.
Looking at the full year, MaxCyte said its total revenue was expected to be in the range of $41.1m to $41.3m, down from $44.3m in 2022.
The company's core revenue for the year was also projected to drop, with expectations between $29.6m and $29.8m, down from $39.6m.
However, SPL programme-related revenue showed a positive trend, expected to be around $11.4m, more than doubling the $4.6m recorded a year earlier.
As of 31 December, MaxCyte estimated that total cash, cash equivalents, and investments was approximately $210m, positioning it for future growth and development in the cell therapeutics and bioprocessing applications sector.
"MaxCyte reported preliminary revenue above our updated total revenue guidance provided in December," said president and chief executive officer Maher Masoud.
"The operating environment in the cell therapy industry was challenging in 2023; however, we remain confident in the opportunity that exists for MaxCyte in the years ahead.
"In 2023, we supported our partner Vertex Pharmaceuticals in the approval of Casgevy, the first non-viral cell therapy product approved by the FDA."
Masoud said the milestone ushered in "a new era" of engineered cell therapies to treat diseases, and validated the value of the firm's platform.
"We are committed to supporting our partners in their commercial journeys and the profound impact they will make in patients' lives."
At 1051 GMT, shares in MaxCyte were up 6.55% at 378.25p.
Reporting by Josh White for Sharecast.com.
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity and Inclusion | Doing Business with Fidelity | Fidelity gender pay report | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Security | Statutory and Regulatory disclosures | Whistleblowing policy
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.
