Cryo-Cell International, Inc. (NYSE American LLC Symbol:
CCEL) (the “Company”), the world’s first private cord blood
bank to separate and store stem cells in 1992, announced results
for the fiscal third quarter ended August 31, 2024.
Financial Results
Revenue
Consolidated revenues for the third quarter of fiscal 2024 were
$8.07 million compared to $7.87 million for the third quarter of
fiscal 2023.
Net Income
The Company reported net income for the three months ended
August 31, 2024 of $1.05 million, or $0.13 per basic share and
diluted share, compared to net income of $681,000, or $0.08 per
basic and diluted share for the three months ended August 31, 2023.
During the three months ended August 31, 2024, gains on marketable
securities was $522,000 compared to $93,000 for the three months
ended August 31, 2023.
David Portnoy, Chairman of the Board and Co-CEO, commented, “As
previously reported, the Company is exploring strategic
alternatives to maximize shareholder value and that process remains
underway. There can be no assurance that a transaction will be
consummated. Also, please note that significant disclosures are
available in the Company’s Form 10-Q, filed with the Securities and
Exchange Commission on October 15, 2024, associated with the filing
of the Company’s Demand for Arbitration with Duke University.
Consequently, the Company’s proposed spinoff of Celle Corp. is
currently on hold.”
Mr. Portnoy added, “Given the Company’s strong historical cash
generation and its reduced forecast for spending related to the
Duke License Agreement, Cryo-Cell’s Board of Directors is
considering instituting the payment to shareholders of a regular
quarterly dividend.”
About Cryo-Cell International, Inc.
Founded in 1989, Cryo-Cell International, Inc. is the world’s
first private cord blood bank. More than 500,000 parents from 87
countries have entrusted Cryo-Cell International with their baby’s
cord blood and cord tissue stem cells. In addition to its private
bank, Cryo-Cell International has a public banking program in
partnership with Duke University. Cryo-Cell’s public bank has
provided cord blood for more than 600 transplantations and operates
cord blood donation sites across the U.S in prominent hospitals
such as Cedars–Sinai Hospital in Los Angeles and Baptist Hospital
in Miami. Cryo-Cell’s facility is FDA registered,
cGMP-/cGTP-compliant and licensed in all states requiring
licensure. Besides being AABB accredited as a cord blood facility,
Cryo-Cell was also the first U.S. (for private use only) cord blood
bank to receive FACT accreditation for adhering to the most
stringent cord blood quality standards set by any internationally
recognized, independent accrediting organization. Cryo-Cell has
the exclusive rights to PrepaCyte-CB, the industry’s most
advanced cord blood processing technology.
Cryo-Cell’s mission is to provide the premier cord blood and
cord tissue cryopreservation services, to develop, manufacture and
administer cellular therapies to significantly improve the lives of
patients worldwide and to offer the highest quality and most cost
effective biostorage solutions available. In February 2021,
Cryo-Cell entered into a license agreement with Duke University
that the Company believes has allowed Cryo-Cell to begin its
transformation into an autonomous, vertically integrated
cellular therapy company. In March 2022, Cryo-Cell launched
ExtraVault to offer its expertise in biostorage and distribution to
biopharmaceutical companies and healthcare institutions. For more
information, please visit (www.extravault.com).
Forward-Looking Statements
This press release includes “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended (the “Securities Act”) and Section 21E of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”). In some
cases, you can identify forward-looking statements by terminology
such as “will,” “may,” “should,” “could,” “would,” “expects,”
“plans,” “anticipates,” “believes,” “estimates,” “predicts,”
“forecasts,” “potential” or “continue” or the negative of these
terms or other comparable terminology. Generally, the words
“anticipate,” “believe,” “continue,” “expect,” “intend,”
“estimate,” “project,” “plan” and similar expressions identify
forward-looking statements. In particular, statements about our
expectations, beliefs, plans, objectives, assumptions or future
events or performance contain forward-looking statements.
We have based these forward-looking statements on our current
expectations, assumptions, estimates and projections. These
forward-looking statements involve risks and uncertainties and
reflect only our current views, expectations and assumptions with
respect to future events and our future performance. If risks or
uncertainties materialize or assumptions prove incorrect, actual
results or events could differ materially from those expressed or
implied by such forward-looking statements. Risks that could cause
actual results to differ from those expressed or implied by the
forward-looking statements we make include, among others, the
success of the Company’s global expansion initiatives and product
diversification, including its addition of the ExtraVault services,
the Company’s actual future ownership stake in future therapies
emerging from its collaborative research partnerships, the success
related to its IP portfolio, the Company’s future competitive
position in stem cell innovation, future success of its core
business and the competitive impact of public cord blood banking on
the Company’s business, the success of the Company’s initiative to
expand its core business units to include biopharmaceutical
manufacturing and operating clinics, the complexities,
uncertainties, required consents and timing related to the
potential spinoff of Celle Corp., the uncertainty of profitability
from its biopharmaceutical manufacturing and operating clinics, the
Company’s ability to minimize future costs to the Company related
to R&D initiatives and collaborations and the success of such
initiatives and collaborations and the success and enforceability
of the Company’s umbilical cord blood and cord tissue license
agreements, together with the associated intellectual property and
their ability to provide the Company with royalty fees, along with
the Risk Factors set forth in the Company’s Form 10-Q filed on
October 15, 2024.
This list of risks and uncertainties, however, is only a summary
of some of the most important factors and is not intended to be
exhaustive. Given these risks and uncertainties, you are cautioned
not to place undue reliance on such forward-looking statements.
These risks and uncertainties may cause our actual future results
to be materially different than those expressed in our
forward-looking statements. These forward-looking statements are
made only as of the date hereof. Except as otherwise required by
applicable law, we do not undertake and expressly disclaim any
obligation to update any such statements or to publicly announce
the results of any revisions to any such statements to reflect
future events or developments. All subsequent written and oral
forward-looking statements attributable to us, or to persons acting
on our behalf, are expressly qualified in their entirety by these
cautionary statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20241015412376/en/
Irene Smith 813-749-2102 Ismith@cryo-cell.com
Cryo Cell (AMEX:CCEL)
과거 데이터 주식 차트
부터 11월(11) 2024 으로 12월(12) 2024
Cryo Cell (AMEX:CCEL)
과거 데이터 주식 차트
부터 12월(12) 2023 으로 12월(12) 2024
