MaxCyte Inc (AIM:MXCT) has raised guidance after a strong start to the year that saw the cell engineering specialist’s revenues increase by 78% in the first quarter.
It expects top-line growth of at least 25% from the core business, while milestone income from licensing agreements is set to be in the order of US$4mln.
In the three months ended 31 March 2022, MaxCyte’s turnover was US$11.6mln, up from US$6.5mln a year earlier. It generated US$2mln in strategic platform licence revenues, investors were told.
The net loss for the period was US$$4.1mln as management invested in growth.
“Ongoing investments in our field and lab science teams and the progress of our in-house manufacturing initiative leave us well-positioned to support growing adoption of the ExPERT platform technology for cellular-based research and next-generation therapeutic development,” said chief executive Doug Doerfler.
As at 31 March, MaxCyte was sitting on cash of US$246.3mln.