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Cryoport Reports Record Revenue

Revenue from commercial therapies increased 295% to $8.3 million in 2019

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By: Kristin Brooks

Managing Editor, Contract Pharma

Cryoport

1Q Revenues: $9.2 million (+62%)

1Q Loss: $947,539 (loss of $2.3 million 1Q19)

FY Revenues: $33.9 million (+73%)

FY Loss: $18.3 million (loss of $9.6 million FY19)

Comments: Revenue from commercial therapies increased 295% year over year to $8.3 million. Cryoport now supports 436 clinical trials in Regenerative Medicine market. The number of trials in Phase III grew to 56, compared with 47 as of December 31, 2018. Bioservices revenue was $1.3 million and $3.0 million for the three and twelve-month periods ended December 31, 2019. Biopharma revenue increased by 64% for the year as a result of the acquisition of Cryogene in May 2019.

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