24/7 Market News Snapshot 13 January, 2025 – MaxCyte, Inc. Common Stock (NASDAQ:MXCT)

January 13, 2025

DENVER, Colo., 13 January, 2025 (247marketnews.com) – (NASDAQ:MXCT) are discussed in this article.
MaxCyte, Inc. (MXCT) experienced significant momentum in the stock market, opening at $4.33 and climbing to $4.92, marking an increase of approximately 11.82%. This movement was backed by a trading volume of 1.21 million shares, indicating heightened investor interest. The stock closed the previous session at $4.40, suggesting a shift in market sentiment that may signal ongoing bullish momentum. If these trends persist, MXCT might encounter resistance around the $5 mark, with support likely near the previous closing price. Investors are advised to closely monitor market conditions as the potential for further growth remains evident.

In addition to its strong stock performance, MaxCyte recently announced preliminary financial results for the fourth quarter and the full year ending December 31, 2024. The expected core revenue for the fourth quarter is projected to be between $8.3 million and $8.5 million, which represents a notable increase from $7.2 million during the same period last year. For the full year, core revenue is expected to range from $32.2 million to $32.4 million, translating to an 8 to 9% growth year-over-year.

Maher Masoud, President and CEO of MaxCyte, expressed optimism about the company’s trajectory and the overall cell therapy industry, stating, “MaxCyte reported preliminary core revenue for 2024 at the high end of the updated guidance range provided. The operating environment in the cell therapy industry is improving as we move into 2025; and we remain confident in the opportunity that exists for MaxCyte in the years ahead.” The past year has seen the addition of six new SPL customers and the successful commercial launch of the first FDA-approved non-viral gene-edited cell therapy product, highlighting MaxCyte’s commitment to innovation.

As of December 31, 2024, total cash, cash equivalents, and investments are projected to approach $190 million, reinforcing the company’s financial stability and operational efficiency. With a comprehensive report expected in March 2025, MaxCyte continues to advance its ExPERT™ platform and remains dedicated to transforming the cell therapy sector and enhancing patient outcomes.

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