Featured Company News – Novartis Ropes in Cryoport for a Three-Year Contract to Provide Cryogenic Logistics Support for Commercialization of CTL019/CD19 CAR-T Cell Therapy
LONDON, UK / ACCESSWIRE / July 27, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Cryoport, Inc. (NASDAQ: CYRX), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=CYRX. The Company announced on July 25, 2017, that Novartis AG (NYSE: NVS) has signed a contract with the Company to provide cryogenic logistics support for clinical trials and commercialization of Novartis' CTL019/CD19 CAR-T cell therapy. The contract is initially for a three-year term and is expected to have a positive impact on the revenues of Cryoport. The Company did not disclose the financial details or other terms of the contract. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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Details of the contract
Cryoport feels that its cryogenic logistics solutions can be easily customized and are equipped to meet the needs of Novartis' expanding cryogenic logistics requirements. Its cryogenic logistics solutions include the use of its Cryoport Express® shippers, SmartPak II™ Condition Monitoring System, Cryoportal™ Logistics Management Platform, which includes chain-of-condition and chain-of-custody monitoring and round the clock logistics support.
Commenting on inking the contract from Novartis, Jerrell Shelton, CEO of Cryoport, said:
"We are proud that Novartis has chosen Cryoport to support the clinical studies and the commercialization of its CLT019. This is a milestone for Cryoport. Our Novartis agreement is a good example of how our clinical trial agreements with biopharma clients can drive substantial revenue growth for Cryoport as therapies move through the stages of clinical trials to commercialization. Currently, we are supporting over 140 clinical trials in the regenerative medicine space with 17 of these biopharma clients in Phase-III. We enjoy meeting Novartis's exacting requirements and are delighted to have this commercial agreement in place."
About Cryoport's cryogenic logistics solutions
Cryoport Express® shippers - These liquid nitrogen dry vapor shippers are containers that are scientifically engineered to transport and store even the most temperature-sensitive materials. Cryoport offers an entire range of these shipping containers in various sizes equipped to transport anything from a single sample to an entire laboratory.
SmartPak II™ Condition Monitoring System - While transporting fragile biologics in temperature controlled shippers, it is important to provide supporting data to prove that proper temperature was maintained during the entire shipping process. Cryoport's SmartPak II™ condition monitoring system works in conjunction with the Cryoportal™. It provides real-time information to track the most important attributes of any shipment including location, temperature, pressure, light, orientation, humidity, and shock.
Cryoportal™ Logistics Management Platform - This is the Company's custom-built logistics management platform that provides transparency to the entire cold chain process from start to end with 24/7 access to the shipment location and condition. Cryoportal™ condenses ordering, tracking, paperwork, customs documentation, reporting, and communications into a single, streamlined interface. The Platform also provides performance analytics viz. lane and equipment performance, freight costs, and historical Dewar performance. All the analytics are provided in a single consolidated data stream.
About Cryoport
Irvine, California based Cryoport is the world's leading cryogenic logistics company dedicated to the life sciences industry. It is one of the most trusted global provider of cold chain logistics solutions for temperature-sensitive life sciences materials, serving biopharmaceutical, IVF and surrogacy, and animal health organizations. Its business is divided into three main verticals - Cold Chain Shipping and Tracking; Storage and Equipment Leasing; and Logistics Consulting. Cryoport actively supports points-of-care, CRO's, central laboratories, pharmaceutical Companies, contract manufacturers, and university researchers.
About Novartis' CTL019 (tisagenlecleucel)
Novartis' CTL019 (tisagenlecleucel) is an investigational chimeric antigen receptor CAR-T cell therapy, for the treatment of relapsed or refractory (r/r) pediatric and young adult patients with B-cell acute lymphoblastic leukemia. The US Food and Drug Administration (FDA) accepted Novartis' first Biologics License Application for CTL019 in late March 2017. FDA also granted priority review for the drug. It is a major milestone for Cryoport that Novartis had identified and chosen the Company for providing clinical and commercial logistics support.
Last Close Stock Review
On Wednesday, July 26, 2017, the stock closed the trading session at $6.94, jumping 7.93% from its previous closing price of $6.43. A total volume of 534.22 thousand shares have exchanged hands, which was higher than the 3-month average volume of 120.25 thousand shares. Cryoport's stock price skyrocketed 194.07% in the last three months, 118.24% in the past six months, and 265.26% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have soared 114.20%. At Wednesday's closing price, the stock's net capitalization stands at $167.88 million.
Novartis' share price finished yesterday's trading session at $84.85, slightly up 0.77%. A total volume of 1.44 million shares have exchanged hands. The Company's stock price rallied 11.13% in the last three months, 17.59% in the past six months, and 2.20% in the previous twelve months. Additionally, the stock surged 16.49% since the start of the year. Shares of the Company have a PE ratio of 30.97 and have a dividend yield of 3.21%. The stock currently has a market cap of $222.34 billion.
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