Cesca Therapeutics (KOOL) Reports Q3 Loss of $0.12, Revenues Beat

Cesca Therapeutics (NASDAQ: KOOL) reported Q3 EPS of ($0.12). Revenue for the quarter came in at $3.11 million versus the consensus estimate of $2.97 million.

"We are encouraged by the strong interest we are receiving for our CAR-TXpress cellular processing platform and associated X-Series™ product line and see the level of initial sales we have achieved without a dedicated sales force as a positive sign for long-term product reception. Since use of each X-Series instrument results in associated cartridge sales, the system provides Cesca with an important razor-razorblade revenue model. Given the level of inbound interest we are receiving from academia, research institutions and industry, we anticipate a steady increase in our customer base," noted Chris Xu, Ph.D., chief executive officer of Cesca.

"The first nine months of the year were marked by tangible internal progress at Cesca, with the launch of key products including the AXP® II for clinical biobanking, our point-of-care PXP system for automated processing of bone marrow cells, and the introduction of the X-Series product line. This level of activity has come with some growing pains, but the cost-cutting measures we have undertaken should put us on a path to achieving cash flow positive status in 2019, which will put us on firmer ground to hit our longer-term goals. In the meantime, we are focused on expanding our footprint in the cell therapy market through sales of existing products and new, planned launches. Moving forward, we expect to realize additional milestones as we progress toward our goal of becoming the 'partner of choice' for CAR-T researchers and manufacturers who face an increasingly urgent need to automate key parts of the CAR-T manufacturing process in order to deliver these important new therapies to patients," concluded Dr. Xu.

For earnings history and earnings-related data on Cesca Therapeutics (KOOL) click here.

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