By Sabela Ojea
Shares of MaxCyte on Wednesday dropped 21% to $2.60 in post-market trading after the company said it expects full-year revenue to come in below Wall Street estimates.
The developer and licenser of cell-engineering technologies to pharmaceutical and biotechnology companies guided for revenue of $34 million to $36 million for 2023, down from $44.3 million a year earlier. Analysts polled by FactSet had forecast revenue of $44.2 million.
For the third quarter, MaxCyte said it sees revenue of $7.8 million to $8 million, also falling below analysts’ expectations of $11.3 million.
The company said continuing volatility in customer activity in the life sciences sector was behind its guidance.
Write to Sabela Ojea at [email protected]; @sabelaojeaguix
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