Cryoport (NASDAQ: CYRX) reported Q2 EPS of ($0.15), $0.04 worse than the analyst estimate of ($0.11). Revenue for the quarter came in at $9.39 million versus the consensus estimate of $8.93 million.

"For the Second Quarter of 2020, we reported revenue of $9.4 million, an increase of 11% from the Second Quarter of 2019. This was largely driven by revenue from our biopharma segment. We are pleased to have achieved these solid results and to have provided advanced temperature-controlled supply chain services to deliver high-value therapies to eligible patients across our clinical and commercial portfolios globally and without disruption," said Jerrell Shelton, Chairman and Chief Executive Officer.

"Our Second Quarter results reflect the strength and resilience of our company where we saw continued year-over-year growth despite the challenging environment caused by the COVID-19 pandemic. Thanks to the tireless work of our colleagues around the world, we continue to successfully navigate the external realities, and we remain focused on our mission of supporting life and health by delivering reliable and comprehensive temperature-controlled supply chain solutions for the life sciences through our innovation, advanced technologies, and global supply chain network.

"We now support four (4) commercial cell and gene therapies: KYMRIAH®, YESCARTA®, TECARTUS™ and ZYNTEGLO® along with Lisocabtagene Maraleucel (liso-cel), which was recently validated by the European Medicines Agency ("EMA").

"Gilead's Kite renewed our agreement for temperature-controlled supply chain support of their commercial and clinical therapies, and we are in the final stages of renewing our agreement with Novartis in support of its commercial and clinical therapies. Over the past several years, Cryoport's advanced solutions have supported both KYMRIAH® and YESCARTA® through their respective clinical phases and subsequent respective commercial rollouts. The continuance of these partnerships with these pioneers in the regenerative medicine market is important as each extends its life-saving therapies to greater and greater patient populations, globally. We think that as the only company with a proven and advanced integrated suite of proprietary temperature-controlled supply chain solutions to support the global high-volume distribution of these valuable therapies, Cryoport's position is highly entrenched and we work hard every day to maintain that position. These renewals together with the increasing number of clinical trials we support demonstrate our leading position, which we will continue to fortify as the number of cell and gene therapy trials grow and commercial therapies come to market.

"Also, during the second quarter, FedEx extended its agreement with Cryoport Systems, a relationship that allows both companies to continue to jointly deliver temperature-controlled solutions for select clients in the Biopharma, Animal Health and Reproductive Medicine markets. The continuation of this partnership is a validation of Cryoport's innovative technologies and FedEx's foresight and an indication of the life sciences industry's growing demand for advanced temperature-controlled supply chain solutions.

For earnings history and earnings-related data on Cryoport (CYRX) click here.