ThermoGenesis Holdings, Inc. (THMO) has experienced an increase of 7.58% in the aftermarket. However, the last trading session closed at $1.98 with an incline of 0.51%.
Automated manufacturing of Gene-engineered Autologous Cell (GEAC) Therapies
THMO reported on 14th September 2021 that it has received a $250,000 Phase I SBIR funding. The funding is meant to design and test the single-use sterile cell processing disposable. These programs enable US-owned life science firms to participate in government research and development with a high potential for commercialization that aligns with the NIH’s objective of improving health and saving lives.
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Existing X-Series cartridges have been shown to concentrate mononuclear cells from blood with target cell recovery efficiencies of 90-100 percent (for T cells and hematopoietic stem cells), as well as to wash or volume-reduce cell solutions with the same success. Likewise, X-BACS reagents found in X-Series cartridges are up to 50% more efficient than conventional ferrous bead/magnetic field techniques for high-purity target cell separation.
Second Quarter 2021 Financial Results
THMO announced second quarter 2021 results on 5th August 2021. Firstly, THMO had net revenues of $2.2 million. When compared to the same quarter in 2020, AXP sales increased by $0.4 million while BioArchive sales increased by $0.1 million. Secondly, this is a good indication, since it shows that cord blood revenues are beginning to recover after the epidemic.
Thirdly, selling, general, and administrative costs were $3.5 million more than the previous quarter. The increase was largely attributable to accelerated expenditure for stock options which increased by about $1.6 million. Lastly, research and development costs were $0.6 million, compared to $0.6 million for the quarter ended June 30, 2020.
THMO announces First Quarter 2021 Financial Results
On 13th May 2021, THMO reported first quarter 2021 financial results. Firstly, net revenues were $1.5 million, down from $3.2 million in the previous quarter. AXP disposable sales fell $1.9 million in the first quarter of 2021. The COVID-19 pandemic was the principal cause of the drop. Secondly, gross profit was $0.7 million down from $1.5 million. Thirdly, The drop was due to the lack of legal and other expenditures of about $0.2 million connected to the Mavericks. Lastly, increased stock compensation expenditure of $164,000 negated these savings in the current quarter.