Maxcyte Share Discussion Threads

[pogue] 12/2/2022 11:40

When they start paying is the problem I feel. None so far once there is more visibility buyers will come until then I think the market cap is still a little optimistic for this market. No one is buying future profit forecasts just now unless they are concrete I am afraid.

[nanopayments] 11/2/2022 17:26

Those milestones will be paid as customer drugs advance through the clinic. I'd imagine it's highly unlikely that all of them will reach commercialization, but I'm not sure it's even possible to guess what percentage will. However, 15 SPLs represent $1.25B. Doug Doerfler indicated in his most recent presentation that there are another 50+ SPLs in the pipeline. Not all of those will get signed and again, the ones that do may not get far into the clinic. Still, that's over 3X what has been signed so far. For a stock with a market cap of $663M, not much of those milestone payments and potential future milestone payments is being priced in. To say nothing of what happens when any of these drugs are approved and MaxCyte starts to get a percentage of sales.

[pogue] 11/2/2022 17:16

So potential payment maybe better? That explains why the share price is where it is. Once payments start rolling then there will be a rerate no one is buying shares in this sector, or many others, at the moment on potential earnings they want to see definites.

[edwardt] 11/2/2022 16:27

pending might be too strong a word given they are milestone payments.

[pogue] 11/2/2022 15:01

Can you define pending? Is that waiting for payment or waiting for results from the companies that bought the machines that justify the milestone payments before paying. One is definite the other is a maybe.

[nanopayments] 10/2/2022 14:05

sebass, his only comment was that current expectations are for their drug (CTX001) to get FDA approval and be commercialized in 2023/4.

[sebass] 10/2/2022 13:59

nanopayments did Doug make any comment regarding the two trials CRSP and Allo are conducting?

[nanopayments] 09/2/2022 17:26

Doug Doerfler indicated there are now 50+ SPLs in the pipeline. Not sure if this is new news. It was a fairly standard MaxCyte investor presentation. However, the general feeling I got was that he is incredibly excited about the future of cell therapy as a whole and MaxCyte in particular and that these are still very early days. As more therapies enter the clinic and we near commercialization of CTX001 in 2023 or 2024 we will start to see revenue from milestones begin to ramp.

[edwardt] 09/2/2022 17:07

looks like ceo chat went well!

[74tom] 03/2/2022 21:47

Valuation starting to get interesting again here, thankfully the management were smart enough to raise significant capital when the shares were on a high so they can carry on as usual whilst everyone else scrambles over the coming months & years.

Current Market cap; $612m
Cash ~$250m
EV; $362m


EV at the end of 2019; £87m / $120m

So it can certainly still get cheaper, however the business has developed a lot in the last 2 years. I suspect long term support at £2.60 - £3 will be tested at some point this year given the macro challenges ahead.

[sharesoc] 03/2/2022 13:03

We are hosting a webinar with MaxCyte (MXCT) next week (08 February 2022), which may be of interest to current shareholders or potential investors. Doug Doerfler (President and CEO) will be presenting. You can register here:

[one_frankel] 03/2/2022 01:20

If I'm not mistaken, MaxCyte is a high margin consumable but I wasnt aware that they also capitalise on the trials of Pharma so thanks for that Dave!...But margins are rarely sustainable with anticipated solid growth in future especially with market saturation...

By the way Pogue, I'm no Troll but sometimes sentimental investors can't quite see the wood for the trees with their investments and need a little helping hand of objectivity unfortunately!...But I struggle to understand where we have any commonality with our investing looking at your history...

[davep4] 01/2/2022 12:47

Correct analogy edwart! We won't know the value of milestone payments for the new SPL until Jan next year when they are all be bundled together in one number, (individual agreements are confidential). My guess it's worth about USD 100m - 150m. It should be remembered that production consumables and royalties will be on top of the milestone payments - if the therapy gets to market!

[nanopayments] 01/2/2022 10:24

A new SPL: www.londonstockexchange.com/news-article/MXCT/license-with-intima-bioscience/15309636

[edwardt] 01/2/2022 10:08

i think it is called a 'picks and shovels' stock. avoid binary outcomes in the gold rush.

[davep4] 01/2/2022 09:13

One_Frankel - Maxcyte supplies 'clinical based' companies, (since Carma's trials were discontinued, (MCY-M11), Maxcyte no longer has any clinical trials of its own), thus it profits from clinical trials that are being carried out by others.

[edwardt] 01/2/2022 08:09

I added yesterday. Timing do's is harder than it looks!

[pogue] 31/1/2022 16:16

More than 100%, many times more if the drug developed is a massive success, selling machines is like selling lottery tickets but you get a percentage of the winnings as well. Making money selling them is fine but its a limited market and expansion is not going to be the way to massively increase profits there are only so many of these machines you can sell the real profits are in the jackpot winners. That was why I invested here, and subsequently sold near the top as I thought it had got too far ahead of itself on future profit expectations. Someday it may well be worth that value but needs to get those milestone payments rolling. I am waiting for a moment to buy back, could be soon.

[edwardt] 31/1/2022 15:53

pogue - your point is valid - the margins on those payments as and when they arrive must be like near 100%!

[nanopayments] 31/1/2022 14:04

Goldman Sachs on biotech multiples twitter.com/ohadhammer/status/1488143101910831107?s=20&t=qRoF4bMW3XRIB5fgHohVVg

[pogue] 31/1/2022 13:08

Why is anyone here worried about margins? The money is going to come from milestone payments as drugs go through the clinical stages and more especially if they get a blockbuster one or more likely more than one. The more machines they sell the higher the chance of a massive pay day. You do realise this dont you? That is why it got so high in value it was not on the back of selling machines its was in anticipation of milestone payments.
Not talking to Frenkel here by the way have him on filter from elsewhere for being a troll.

[nanopayments] 31/1/2022 12:46

They've maintained those margins at least for as long as they IPOed on the LSE and started releasing their financial statements. Without a significant competitor in ex-vivo delivery, I'm not sure where the competitive pressure will come for lower margins. The market is concerned about higher inflation and interest rates, but I don't have enough confidence in my ability to judge whether that is justified or not, so I focus on the metrics which are specific to MaxCyte. Namely, are they growing the installed base of instruments, the number of SPLs, how many of those SPLs have entered the clinic, and are the milestones associated with those SPLs growing? The answer to all those questions is "yes", and as long as that continues to be the case, at some point the share price will stop moving in the opposite direction to the fundamentals, assuming the broader markets don't crash.

[one_frankel] 31/1/2022 11:29

Let's see if those margins are sustainable in future with its growth buddy...Unfortunately, the spread isn't that enticing with a concerning market environment.