Rapid Micro Biosystems, Inc. Reaffirms Earnings Guidance For Full Year 2022
May 10, 2022 at 06:00 am EDT
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Rapid Micro Biosystems, Inc. announced that it is reaffirming its prior full year 2022 outlook for revenue of between $27 million and $32 million, representing growth of approximately 25% to 50% as compared to the full year 2021. The Company's full year 2022 revenue outlook assumes that roughly 30% of the revenue will be delivered in the first half of the year, with the remaining 70% in the second half.
Rapid Micro Biosystems, Inc. is a life sciences technology company providing mission critical automation solutions to facilitate the manufacturing and release of healthcare products, such as biologics, vaccines, cell and gene therapies, and sterile injectables. The Company's flagship Growth Direct system automates and modernizes the antiquated, manual microbial quality control, testing workflows used in pharmaceutical manufacturing operations. It offers four specific applications for testing of microbial contamination: Environmental Monitoring, which tests the manufacturing environment, including circulating air, exposed surfaces, and personnel; Water, which tests any purified water used at any stage of the drug production process, including water for injection; In-Process Bioburden, which tests raw materials, drug substance and in-process product, and Sterility Release offering final testing of finished product to ensure sterility before the product is released for commercial sale.