CryoPort Q4 2019 Earnings Report
Key Takeaways
Cryoport reported a 73% increase in revenue for fiscal year 2019, driven by commercial agreements supporting Gilead’s YESCARTA® and Novartis’ KYMRIAH®. The company is expanding its infrastructure and expects continued growth in the regenerative medicine market.
Cryoport reported revenue of $33.9 million for fiscal year 2019, a 73% increase year over year.
Revenue from commercial therapies increased 295% over the prior year to $8.3 million.
Cryoport supports 436 clinical trials in the Regenerative Medicine market.
A record total of five Cryoport supported Marketing Authorization Applications (MAA’s) or Biologics Licensing Applications (BLA’s) were filed during the fourth quarter of 2019.
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CryoPort Revenue by Segment
Forward Guidance
Cryoport anticipates continued expansion of the Regenerative Medicine market and expects to start generating revenue from the commercial launch of bluebird bio’s ZYNTEGLO™ in the first quarter of 2020.