ThermoGenesis Holdings, Inc. (THMO), a company involved in the development of automated technologies for cell-based therapies, soared 19.48% in Monday’s regular trading session and closed the day at $0.76. In the premarket session, THMO stock has slid 6.81%, owing to the profit-taking factor, and as a result, was trading at $0.71 when last checked. The gigantic increase in the stock price was attributable to the announcement of financial results.
FY 2021 Financial Results
On Monday, THMO announced the results for FY 2021 which came to an end on 31st December 2021. The net revenue for the year was $9.3 million versus $9.7 million generated during the previous fiscal. The gross profit for the year was $3.5 million against $1.3 million for fiscal 2020. For the fiscal year 2021, a comprehensive loss attributable to the shareholders was $11.4 million (or a loss per share of $0.96) compared to the $16.3 million in net loss (or $2.60 per share) the company suffered during fiscal 2020.
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Corporate Update
THMO also provided a corporate strategic update. It entered into License and Technology Access Agreement with Boyalife Genomics Tianjin Ltd. Under the terms, ThermoGenesis agreed to pay Boyalife Genomics a running royalty of 7.5% over its annual net sales of the products that are covered by one or more U.S. patents granted by Boyalife and a 5% royalty over other products.
Comments from THMO CEO
Chris Xu, PhD, Chairman and Chief Executive Officer of THMO, commented that there is a serious need to bring the cell related to market, owing to a sheer volume of ongoing clinical trials which are taking place in the said field. The company remains optimistic about the prospects it is looking out for the fiscal year 2022.
What’s Coming Up for THMO?
Looking ahead, analysts are of the view that despite being in a falling trend, the short term signals are pointing in a positive direction for THMO stock. Hence, the stock holds a buying opportunity for investors at the current level.
