ThermoGenesis Holdings (THMO) Misses Q2 EPS by 20c

ThermoGenesis Holdings (NASDAQ: THMO) reported Q2 EPS of ($0.38), $0.20 worse than the analyst estimate of ($0.18). Revenue for the quarter came in at $2.2 million versus the consensus estimate of $1.98 million.

At June 30, 2021, the Company had cash and cash equivalents totaling $8.7 million, compared with $7.2 million at December 31, 2020. Working capital was $4.2 million at June 30, 2021, as compared to $9.2 million at December 31, 2020.

"Cell and gene therapies are poised to continue to revolutionize many areas of medicine, and ThermoGenesis has been a pioneer in the development and commercialization of automated cell processing technologies that provide more efficient, higher-quality and cost-effective manufacturing solutions to move these therapies through the clinic and ultimately, to patients in need," stated Chris Xu, Ph.D., Chief Executive Officer of ThermoGenesis. "Throughout our 35-year history, we have leveraged the inherent flexibility of our proprietary technology platform to meet the ever-changing needs of the industry. Given the sheer volume of clinical trials currently underway in the CAR-T cell therapy field, alone, and the high manufacturing costs and serious capacity limitations of current cell-based contract development and manufacturing (CDMO) services, there remains a serious unmet need to bring these lifesaving therapies to market."

Dr. Xu continued, "Most of the existing players in the CDMO arena do not have proprietary manufacturing technologies which contributes to the market bottlenecks. To capitalize on the inefficiencies in the industry, we are committed to leveraging our high efficiency, semi-automated CAR-TXpress™ platform, which has been shown to reduce the manufacturing costs associated with CAR-T and other cell and gene therapies by up to 70% and plan to transition from a device-only company to a provider of CDMO services for the global cell and gene therapy market. We look forward to reporting more on this exciting transformation in the coming months."

For earnings history and earnings-related data on ThermoGenesis Holdings (THMO) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Zeo Energy Corp (ZEO) Misses Q2 EPS by 7c
• HeartCore Enterprises, Inc. (HTCR) Misses Q2 EPS by 185c