StockMarketWire.com - Cell-based therapies developer MaxCyte booked a first-half loss, as a rise in revenue was offset by R&D and marketing spending.

Net losses for the six months through June amounted to $6.1m, compared to losses of $9.5m on-year. Revenue rose 30% to $10.9m.

The company did not declare an interim dividend.

Looking forward, MaxCyte said its revenues were on track to be 'at least modestly ahead' of prior market expectations.

'MaxCyte has delivered strong positive momentum during the first half of 2020, building on the growth reported in 2019, reflecting its position as a leader in the field of advanced therapies and a trusted partner-of-choice for cell therapy developers,' chief executive Doug Doerfler said.

'Our full-year 2020 revenue outlook has improved from the initial uncertainty outlined in April, although the ongoing Covid pandemic still limits visibility.'

'In addition, the outlook for 2021 continues to strengthen significantly, due to our current progress and our partners' on-going advancement towards milestone events in the coming year.'

'We remain highly confident in the strength and resilience of our business model, and in the prospects for continued growth, particularly as our growing number of partners advance their clinical programs.'


At 8:00am: [LON:MXCT] MaxCyte Inc share price was +5p at 340p



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