Maxcyte Share Discussion Threads

[sword77] 15/11/2024 14:44

So why is the share price so low right now? Quarter was good, beat estimates and raised guidance but share price went down the drain...

Can the likely delisting be that impactful?

[adamb1978] 13/11/2024 08:32

"So it's not all straight CASGEVY royalty income, but we can represent the majority of it is related to that"

majority

[sword77] 12/11/2024 19:42

@Junior, OK thx, this has to include then PA revenues aswell

[junior21] 12/11/2024 17:21

Thanks for sharing Dave.

I don't think I'm being too optimistic if casgevy alone generates income of >£30m pa n a few years time.

[davep4] 12/11/2024 16:38

Here's what they said on the investor call:

Matt Larew

Q. Okay. And then just one quick accounting cleanup that in $24,000-ish of revenue related to CASGEVY. The level of granularity you're able to maybe just remind us how the rev rec works here because I guess I hadn't necessarily anticipated we'd see anything in the quarter.

Doug Swirsky

A. Thanks, Matt. I guess I'll take that one. We have -- we didn't necessarily expect it this quarter either, but obviously they've dosed the patient. We did recognize some revenue associated with that. We have a process where we interface with our partners as our customers as we will for all folks that reach that commercial stage where we've got downstream economic participation. We'll have a process in place to recognize revenue when it's been earned.

In this case, I do want to emphasize that that amount you see there is not just related to that one item. There's some legacy revenue in there related to amortization of a previous upfront associated with one of the clients. So it's not all straight CASGEVY royalty income, but we can represent the majority of it is related to that. They're just getting started. And again we've got a process to make sure that that we're getting data from our customer that allows us to appropriately recognize revenue and that's just getting started.
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Keywords "did recognize SOME revenue associated with that."

[davep4] 12/11/2024 15:23

Vertex Pharmaceuticals has, for the first time, booked revenue from a commercial sale of its CRISPR gene therapy Casgevy. Results for the third quarter disclosed by Vertex Monday show the company recorded $2 million in revenue for the sickle cell disease treatment, representing a patient who was infused sometime between July and September. Approximately 40 patients have undergone cell collection, a preliminary step in which their stem cells are removed for gene editing in a laboratory. On a conference call, executives said they are seeing signs of growing demand and continue to project billions of dollars in future sales.



Let's hope Maxcyte's share is 3% of billions of dollars!

[junior21] 12/11/2024 13:29

Sword77 - first seen 3% mentioned on twitter, a poster pasted a transcript of an interview with CRISPR where they stated 'we are going to pay them a 3% royalty'

[adamb1978] 12/11/2024 11:57

Thanks. Also need to remember that you don't know what point in teh quarter that treatment stated and how they're accounting for it.

If its a course of treatment spread over a period of time then they'd probably amortise the revenues over that period and in which you need to know when in Q3 started. They could have 1 day of that amortisation in Q3 or 90 days or more likely somewhere in between.

If they account for it as a one time sale then the price point clearly is lower. They might also need to hold back some revenue for post-treatment support etc.

My guess, given its royalty related, is that its the former accounting period, but Q4 should show us more clearly what the potential per patient is

[sword77] 12/11/2024 11:36

@dave, not all of the spl revenues is related to CASGEVY. From the conference call:

"In this case, I do want to emphasize that that amount you see there is not just related to that one item. There's some legacy revenue in there related to amortization of a previous upfront associated with one of the clients. So it's not all straight CASGEVY royalty income, but we can represent the majority of it is related to that. "

[davep4] 12/11/2024 10:12

Maxcyte Q3 Program Related income $24k - Vertex Q3 1 patient Infused with CASGEVY. (Hopefully I have misallocated the income)

[sword77] 12/11/2024 07:37

@junior, where do you have the 3% from?

I assume 1% = 1.27bn plus PAs.

So we need more approvals to make this a tenbagger

[junior21] 12/11/2024 06:28

I thought it was more like £50k based on 3%

[davep4] 12/11/2024 00:20

Duplicate post

[davep4] 12/11/2024 00:20

I hope we're are going to receive more than $24k per CASGEVY treatment!

[davep4] 11/11/2024 22:09

While the cost to the NHS of the new therapy is hefty – an estimated £1.6 million per patient – the treatment is being heralded as a cure, with the added benefit of eradicating the need for frequent blood transfusions, thereby reducing strain on healthcare services and improving patients’ quality of life outcomes.
With the new therapy expected to be rolled out in the coming weeks, attention now turns to whether the Casgevy treatment for sickle cell anaemia – another blood disorder affecting haemoglobin – will also be offered on the NHS, after its approval in November last year.

[adamb1978] 08/11/2024 11:13

58,000 customers * $2.2m = $127.6bn market?

Justifies a few billion for them, and few tens of million p.a. for MXCT

[davep4] 08/11/2024 10:39

With new approvals on the horizon and the closely watched Casgevy launch picking up steam in sickle cell disease and beta thalassemia, “there has never been a more exciting time to be at Vertex,” chief operating officer Stuart Arbuckle said on the company’s third-quarter earnings conference call.

With the first Casgevy revenues coming in and the company's established cystic fibrosis portfolio firing on all cylinders, Vertex brought in a quarterly haul of $2.77 billion, a 12% increase from the same period last year. The number beat the market consensus of $2.66 billion and William Blair’s estimate of $2.64 billion, the firm's analysts wrote in a note to clients.



The performance led Vertex to raise its full-year product revenue guidance to a range of $10.8 billion to $10.9 billion. Previously, Vertex had expected to generate $10.65 billion to $10.85 billion in sales this year.


CRISPR Therapeutics-partnered Casgevy’s official entrance to the commercial market is a crucial milestone following months of efforts to lay the groundwork for the launch. So far, Vertex has set up 45 authorized treatment centers for the gene-editing therapy and is “well on our way” to meeting its goal of 75 centers globally, Arbuckle said. Forty patients have already had at least one cell collection, doubling last quarter’s 20 patients.

RELATED

Vertex lifts sales guidance as launch of gene therapy Casgevy picks up steam
The $2.2 million therapy has come a long way since its groundbreaking sickle cell disease FDA approval in December and subsequent January nod in beta thalassemia. As Vertex looks to tap into the Middle Eastern market of around 23,000 patients—on top of its estimated patient pool of 35,000 in the U.S. and Europe—the drugmaker remains “confident in our view that Casgevy represents a multibillion-dollar opportunity,” Arbuckle said.



“We have built a strong foundation for this transformational therapy, and we look forward to the momentum it will carry into 2025," he added.

At the same time, Vertex is keeping an eye on increasing manufacturing capacity. In September, the company inked a long-term supply agreement with CDMO giant Lonza, which will help produce the therapy from its manufacturing digs in the Netherlands.

[multibagger] 07/11/2024 06:27

Good morning all :)

Plans for cancellation from AIM - no decision as yet

From the RNS yesterday....

"....As part of these efforts, the Company is considering the costs and benefits of maintaining dual listings on AIM and Nasdaq. A potential cancellation of the admission of its common stock from trading on AIM would allow the Company to concentrate its efforts exclusively on the NASDAQ exchange, where the vast majority of its trading volume now occurs. Concentrating trading on a single exchange is expected to improve liquidity and reduce the administrative costs associated with maintaining dual listings. The Board is contemplating requesting shareholder approval to implement this strategy at the 2025 Annual Meeting of Shareholders, although no decision has been taken by the Board at this time in respect of any such cancellation from admission to trading on AIM. The Company anticipates that the 2025 Annual Meeting will be held between May and July 2025, subject to the filing of a proxy statement with the Securities and Exchange Commission...."

[gsbmba99] 11/8/2024 11:27

The date cutoff on the active clinical trials slide is March 2024. Allogene commenced their pivotal Phase 2 for Cema-cel (ALLO-501) in June ( which might explain it. Despite the cutoff date, I don't understand some of the "phasing". Editas is in a pivotal Phase 1/2/3 trial for Reni-cel (EDIT-301) with enrolment completed in the SCD cohort for both adults (Q1 update) and adolescents (Q2 update) while the TDT cohort is still enrolling ( Analysts on the Q2 EDIT call were already asking about BLA timing. Just for the fun of it, CRISPR/Vertex announced the completion of enrollment in Feb 2022, began a rolling FDA submission in November 2022, completed their BLA submission in Apr 2023 and received FDA approval (for SCD) in Dec 2023.

[sword77] 10/8/2024 12:17

Thank you, didn't think about that.

Also interesting is, that they don't show $Allo with a phase 2 trial, I just hope, that this is an error and they didn't end the cooperation.

[gsbmba99] 09/8/2024 09:15

The Phase 3 partner could be Crispr/Vertex who have ongoing Phase 3 trials of Casgevy in pediatric patients with SCD and TDT to support label expansion. "Enrollment has been completed in two global Phase 3 studies of CASGEVY in people 5 to 11 years of age with SCD or TDT and the trials are ongoing." ( According to clinicaltrials.gov it's a Phase 3 study (

[sword77] 09/8/2024 03:45

In the earnings call they mentioned that one partner is now in phase 3 but in their presentation on slide 12 there is no dot in a phase 3. Does anybody of you have more info regarding that?

[adamb1978] 08/8/2024 21:23

Good spot, thanks for posting

[davemac3] 08/8/2024 05:57

First gene-editing therapy may cure blood disorder