BioLife Solutions Reiterates Guidance
Portfolio Pulse from Benzinga Newsdesk
BioLife Solutions has reaffirmed its 2024 revenue guidance, projecting $95.5 million to $100.0 million. This forecast includes contributions from its Cell Processing and Biostorage Services platforms, incorporating the ThawSTAR product line but excluding the freezer product line (GCI and CBS). The Cell Processing platform is expected to generate $66.0 million to $68.5 million, marking up to a 4% increase from 2023, or 17% to 22% based on the second half of 2023's revenue run rate. The Biostorage Services platform, now including ThawSTAR, anticipates $29.5 million to $31.5 million in revenue, a 5% to 12% increase from 2023, or 10% to 16% without ThawSTAR.
May 09, 2024 | 8:10 pm
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BioLife Solutions reaffirms its 2024 revenue outlook, expecting significant contributions from its Cell Processing and Biostorage Services, with an emphasis on the inclusion of ThawSTAR and exclusion of freezer lines.
Reiterating revenue guidance often signals management's confidence in the company's growth trajectory and operational stability. For BioLife Solutions, emphasizing the expected growth from its Cell Processing and Biostorage Services, especially with the inclusion of ThawSTAR, highlights strategic product lines contributing to its revenue. This announcement could positively influence investor sentiment by reinforcing the company's growth prospects and operational focus, potentially leading to a short-term uptick in stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100