(Alliance News) - MaxCyte Inc on Tuesday said that promising returns from its strategic platform licence program had bolstered its quarterly revenue expectations.

MaxCyte is a Maryland, US-based provider of cell engineering platform technologies developing "next-generation cell therapeutics".

The company expects revenue to be between USD15.5 million and USD15.7 million for the quarter ended December 31, up from USD12.4 million a year before.

Of this, core revenue is expected to be between USD7.0 million and USD7.2 million, down from USD10.6 million year-on-year.

It added that revenue from its SPL programme is expected to be around USD8.5 million, up over four-fold from USD USD1.9 million the same quarter last year. Over the past few years, MaxCyte signed a number of SPLs with companies such as Vertex Pharmaceuticals Inc, Lyell Immunopharma Inc and Walking Fish Therapeutics Inc, among others, to advance its cellular therapeutics.

These figures will bring MaxCyte's anticipated total revenue for the full year to roughly USD41.2 million, down slightly from USD44.3 million in 2022. Core revenue is also expected to fall to around USD29.7 million from USD39.6 million for 2022.

However, total SPL programme-related revenue is expected to be around USD11.4 million, up from USD4.6 million.

As of December 31, MaxCyte estimates its cash reserves at around USD210 million.

MaxCyte will release its full results for the quarter and year in March.

Shares in MaxCyte were up 6.6% at 378.25 pence each in London at midday on Tuesday.

By Hugh Cameron, Alliance News reporter

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