CYRX - Earnings call transcript Q3 2021

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Ladies and gentlemen, thank you for standing by, and welcome to the Cryoport, Incorporated Third Quarter 2021 Earnings Call.

Now during today’s conference call, all participants will start in a listen-only mode and later, we’ll conduct a question-and-answer session. [Operator Instructions] And a quick reminder for today, this event is being recorded, its November 4, 2021. It’s now my pleasure to turn the call over to Mr. Todd Fromer, President of KCSA Strategic Communications. sir. ahead, go Please

Todd Fromer

operator. you, Thank

that we currently statements begin that All to everyone and not forward-looking or would that in and anticipate the assumptions future to based today, conference call on our I are management developments events this performance, statements. These our like expect contains team. or address occurring available forward-looking remind statements. operating Before information we are certain statements beliefs on forward-looking management’s

these forward-looking made. that are reasonable Our when believes management statements as and team

a statements However, undertake on future or you when should any publicly statements, law. such not otherwise, result or not required only events as by revise place obligation any undue forward-looking of as reliance statements, as or new because speak do forward-looking update date information the of except to made. We any such whether

the Cryoport. from Officer Report Securities reports, call Executive to filed Exchange floor XX-K pleasure turn with those subject our described my are actual Commission. Chief to It materially risks statements XA, not and experience results, forward-looking described Exchange those or include, the our Mr. Shelton, of and limited and but the to and Risk over and are Item uncertainties uncertainties on cause from we is and filed developments Annual events time-to-time addition, Form to elsewhere to Commission, differ in other projections. These and present that the historical the could Jerrell Factors in Securities which risks Jerry, with in yours. certain In expectations is our now and

Jerrell Shelton

Vice afternoon, Chief Scientific of today. me joining Corporate and Mr. Stefanovich; Financial ladies Relations, this Mark our Good afternoon Investor Development President Chief gentlemen. and you, you call our Heinzen. We With Dr. and our our Thomas Officer, Robert Sawicki; is Officer, earnings Thank appreciate Todd.

Relations financial operational in have document outlook. review It reminder, section. Presentations" be the quarter a Investor The uploaded our and XXXX general website. "Events our provides the can and review recent found performance document a business to under and third we a As in of

If you’ve you it, not our to it. had a to would website I encourage and go read download to chance

third happy execution to your report full we Now, for questions drove year. that from record our team our deliver brief to followed results. firmly was performance the consecutive quarter I’m update third record and by our regarding with quarter the coupled Strong in the on Cryoport. quarter of supremacy quarter a for track our solid fifth demand are revenue for

added doubled during During XX XX% the increased eight quarters cell expertise and developed delivering CRYOGENE whole Cryoport on well pace CRYOPDP that for our Cryoport supply new quarter, which Systems organic commercial new setting gene growth increase. XX the number or rates. added Cryoport Solutions growth Cryoport and support we clinical solutions. and their revenue and The historical increased the solid quarter. new above trials Revenue customers at Biological CRYOPDP we customers of is year-over-year has the with was in growth our delivered with Systems, XX% third third wins. from in performed MVE agreements year-over-year comprehensive year-over-year while the through quarter a from prior the XX% deep chain therapy well

Our largest of the pipeline customers commercial history. our in is

Phase in of X. Phase clinical XX are is our regenerative medicine supporting which now trials XX pipeline X, of approximately XXX allogeneic XX% was We’re of them in

additional up anticipate of MAA BLA commercial eight And another looking supporting to filings. submissions up we’re year, In XXXX, Cryoport the or four currently to for we medicine. for this regenerative We’re supported and for therapies XX remainder products.

organic into approximately execution, of ever of and quarter set Biopharma/Pharma our is In closing, for third talented revenue for had record our million million, strong results of Overall, superb our On questions. momentum the apart business our growth $XX.X excuse translates position. to me. leadership a continues our XXXX strategic of up to seeing of accounting in pursuit we we continues total basis and year-over-year XXXX. It same testament total relentless improving this of of – is teams be front, period we’re a an are financial period, us proud the XXX% innovation the we’re XX%. quarter we from and over and business, the please in as the XXXX without $XX.X resource It and capabilities. prior a On the are support is our that performance. revenue revenue allocation, our XX% increase acquisitions, third of are was year. our strong relentless The employees execution through to line that Operator, our open suburb the

Operator

Sourbeer [Operator John of first Certainly. Our coming Instructions] UBS. the question from line from

You may now proceed.

John Sourbeer

Hi, thanks for my taking question.

and quarter think up, So trials some And were talk you from competitors? new were Systems Cryoport little around wins? Can I that teens year-over-year. pull the guess, a currently bit times X about from you prior the share do of wins is maybe contract the the competitive up taking

Jerrell Shelton

good And suited Sawicki Dr. a is question. to best Mark? question. its answer John, that

Mark Sawicki

thanks, Yes, Yes. Jerry.

particular is particular, in absolutely overall wins And us space. gene continue our it from I the think development. pulling significant. relates That’s as market to low COVID and we’re of a as in ultimately our new to the still coming market. business in to is to XX cell share The you’re goal increase out

pulling we’re are So share. that we very very, comfortable

John Sourbeer

that. of you’re is I or the inflation margins gross margins? issues from that about there Got think it. I chain supply around you impacting impact XX Can appreciate declined seeing any bps. maybe And the talk

Jerrell Shelton

suited I good a its Robert question. for is that. Yes, think best And

Robert Stefanovich

Yes.

are chain off, company. we a First supply

with tune them. in very we’re obviously, So

focused very We’re that. on

we’ve that, that quarter. to for quarter, base, disruption I did costs experienced think of chain at said to client increased if then revenue you one our was record ensure a successfully. during we And quarter suppliers and to supply really allowed as minimal the objective third drive challenges, us such companies the look market drive share to our Having continue which and transportation costs. very revenue, all like which primary the to third obviously

We’re very much on that. focused

line We and have our quarters. to for resources growth capacity we of the no that ensure expected chain into sight next supply the for have clear the

really on. of an QX believe So chain that, that the the we we’re is the challenges. issue supply was this focused ongoing peak that Having very said much obviously

We expect quarters. that next to improve over the

John Sourbeer

couple Got on for for geographies in be question is our deals Any guess it. CRYOPDP, potential the since there here, there last this a I Europe could tucking and done you’ve new thoughts Australia. acquiring where of opportunities tuck-ins there. the

Robert Stefanovich

terms in expectations those regions… in opportunities any the growth thinking, Any of

John Sourbeer

might do to in the to regions that Or you looking Australia? be deals Belgium just in or at new and similar did you

Jerrell Shelton

the We regions. APAC. No, let that. We me EMEA and looking world at Americas, the into were explain all divide

course, And the so right of all future have at large on is it’s looking that market now to with going We several at and the we’re higher looking initiatives there. going the regions for interesting we is China and we’re think region – growth APAC. be highest really

So this we’re Asia-Pac we and right looking particular on globally, we’re a looking at have focus have point. regionally, a we

Robert Stefanovich

well potentially seen in more of with our we’ve past includes as as strategic M&A tuck-in you’ve that a Australia strategy acquisition, Yes. that opportunities. these the acquisitions about And Belgium and strategy, talks the

John Sourbeer

Congrats on thanks quarter for Got it. taking and the the questions.

Jerrell Shelton

you. Thank

Robert Stefanovich

you. Thank

Operator

Leerink. from line question coming of [Operator SVB Thanks. Wiatrowski from Our the Chad next Instructions]

proceed. now may You

Chad Wiatrowski

see guys, can you trial so, provide Delta as the if And driven color geographies? congrats impact delays this on And and seen any around have quick Hi you of do just where seen Real FYXXXX? any space quarter. recent? on the certain you clinical in trending

Jerrell Shelton

some you think top can there, I insight. of is Tom so give on insight he our that,

Thomas Heinzen

and in a clinical I pace. count the that, quarter added at finished, can good Actually a add, seen customers echo trial like we’ve just this new we’ve Mark after but good

I of big the the haven’t of China there. We down. reports in But version. at of trends, if in new money pipeline and that being the JDA the space, amount the and overall think know of look a INDs quite seen the the out slow companies amount the space, EMA FDA a formed the macro I there’s you some

we those through. and see on behind coming bit little a We’re

think BLAs further XXXX. Mark, So thoughts? MAAs any I seems at we’re picking It evidenced up to as down see slow and to be you have by in of forecast going don’t it all. our

Mark Sawicki

Tom’s the or with – levels. see I any associated lingering activity. yes, right. I delays impact don’t fact, to pre-COVID No, exactly back In COVID-related Everything’s

mentioned Tom activity actually as this time. fact, the had at in is In point stronger

we’re So very near confident future. in the

Chad Wiatrowski

question Thanks and the again Great. taking for quarter. the congrats on

Jerrell Shelton

Thank you.

Operator

right. All

the next Couillard question from Our of from coming Jefferies. line Brandon

may now proceed. You

Matt Andrews

in for the Homebrew then some you on an just competition, Can clearly And region, players of share for Korea dynamics Matt over Brandon. Thanks. talk is that jump China, taking key you about of the talk to guys, there, markets the how for Hey to competitive some question. at or these you Maybe Europe? market maybe the U.S. like compares kind versus guys. of in there today? local you back focus internal for Thanks dynamic What’s and there I’d the area of customers. terms about and of APAC this the

Jerrell Shelton

Mark initiatives I’ll have look, the and locations comment, certain, Singapore is Korea developing, of then in Japan we And going And Asia-Pac in Matt. China in in in and comment But and on first. I’ll North this are a have Australia. let we region, these region. developing course and

growing industry nothing it’s And mean to competition we but for But there what’s is you in want support add internationally right set certainly, is it local now. as to do of of I that? in the of we’re and but on, serving a more So in focus in terms tune looking we’re going full domestic domestic are business with for countries and areas, industry, the us. each well. the what Mark, is absolutely support those developing And serving is those

Mark Sawicki

Yes, absolutely. Yes.

up at take APAC about XX% clinical So you numbers are our a trial year-over-year. a look from our numbers, standpoint if

of as acceleration biggest in traditionally activity. particular, The So associated lion’s are European of called with Chinese most that seeing FDA. authority. the FDA what’s the regulations formal Health share And we programs clinical under China, much running than in programs in programs have looser associated are the APAC U.S. run where Ministry days with early particular, a not are under Chinese or mandate, China challenge or a those

more As moving they’re a state. into starting they’re formal mature, to

the looking where transition in to now as and supply evaluate things seeing that’s rigorous just increase over programs. type starting And demand much format. these more regulatory traditional that’s to we’re in accelerate. at they’re like a And to So more going chain

partnerships “Homebrew” activity you’re obviously will Systems moving So talking to able have of support Cryoport that mature to a basis type from about that regulatory scrutiny through with folks forward. this like local be to

Matt Andrews

space you’re I on think is release, few you’ve which on XX of pipelines forward update been over And Phase about market really to you’re spend the to then you where just allogeneic, thinking market serving the about commercialize? XX% you And allogeneic then years made if trials. in that historically, that the us past clinical Thanks. kind It’s the moves helpful. it’s the Can how X I noted going but of start somebody given as better serve of that development forward. the position think par you going some maybe

Mark Sawicki

can I Sure. you take Jerry. want if that

Jerrell Shelton

Go Mark. ahead. ahead, Go

Mark Sawicki

Yes. right. All

out guys reasons be as volumes So batch done obviously is relates one a staging chain it as the centers, support bio able the allogeneic And that distribution. of building call of manufacturing what we our full to you aware, include to which services are to competency. supply we’ve we’ve this been

that the a for having and scale that, the distribution And for the aspect processes. distribution the ins is one as our obviously Biological this the so as building ability well of to basis storage clients, on MVE aluminum inventory that of support of and infrastructure tie through regional local Solutions to and

So be launches entertaining we the move we’re place do preparing they able and to any absolutely in as of forward. it, to have support and for infrastructure these

Matt Andrews

Thanks.

Operator

right. All

from line Knight the KeyBanc. from coming question Next of Paul

may proceed. now You

Paul Knight

XX% Is to Yes. sequentially. be The good meaning of shows they’re acquired obviously about businesses that And sequential on the ballpark? look out would were those that my flattish kind question. up logistics, would back growth Is be up organically? does they fair flow? like XQ guys. in to the similar any Hi first core create in very that kind acquired seasonality it a there That businesses kind that of it then of say

Robert Stefanovich

Yes.

significant CRYOPDP, Solutions I to absolutely to you the – the MVE of performance. of think very are Biological actually their had both and address, just compared historic right growth performance

the actually and you above So well number mentioned. that

units global Biological business strong both MVE by performance Solutions, strong very very, So and continuing demand very and freezer, basis well, solutions shipper CRYOPDPs on for as services. both a

you’re strong very seasonal, being chain revenue. QX, some impact QX yes, supply in as performance again, the experienced that you It’s on If right. they flat QX, see we earlier, at very had some there that it’s continuing look and compared the related that to say record hard to, revenue strong us revenue had were strong overall, certainly beyond. that the very, we I mentioned performance during delays into and for But

Jerrell Shelton

almost numbers were what you said. backlog record the growth backlog. quite, not – almost All but And so the double

So businesses doing extremely shape, are we’re both great of in those but well.

Paul Knight

a Jerry? like with the talk that that you at it that, And Obviously but cross-selling. you that? you must about are on sales be with seems working, them, going market in – where must for – good they is Is pulling integrations be a – because what’s

Jerrell Shelton

one a synergies get referrals, have where the one Well, operate a tight we And do from get other other, as the companies integrations from team. we operating very bit company. other holding do different an we we from than little

just throughout culture but throughout company. the Our one is company, the in company, not

place taking that’s a way. in nice So very

do so to referral nicely. integration working get other and working we the And one nicely. business very The is it’s

As Systems. it we the that – Cryoport and as promised between are CRYOPDP synergies

Paul Knight

would think BLA in read-through That possible next press last I you was good the you, what side mentioned reported, filings you this you that XX correct? I is about year. is Mark, think that time probably – or And is a for XX release

Jerrell Shelton

accelerating. I’m go the And numbers are ahead, Yeah, Tom. sorry,

Thomas Heinzen

the increased XX for we’re was before, It nine predicted so XXXX it during quarter.

Paul Knight

it. Great. Got

Mark Sawicki

manufacturing and see to And Yes. a one had had reason We see significant we ramp of Tom we acceleration companies on an for to ready and significant starting what portfolio A lot activity getting whether of previously, back comes starting and forward now to programs those related or moving have activity. or a that that that lot I COVID are absolutely are another clinical towards a delays capacity finally and and filing see they’re mentioned events, through to or pull related of finally issues. being related are data file. longstanding bolus are worked

we’re that. very bullish, because So very, of

Paul Knight

thanks. Okay,

Operator

right. All

Next question from BTIG. coming from Larsen the David line of

may You now proceed.

David Larsen

quarter. just on little Maybe Hi, talk bit that congratulations good supply another XQ. the saw very pressures about a on chain you more

terms purchased I that you you. within helpful. in you year’s worth a inflation. for And Any XQ expect of then think is of peak for inventories there would a you or inventories, maybe have locked would mentioned year supply additional MVE. you like like Thank pricing ahead the very of have in color be

Jerrell Shelton

of we’ll a peak, and for forward hard XX negotiate we David. a very out. We agreement XXXXs head in – haven’t costs where for transportation the kind all, we And coming highly fast product any increasing and Sure, uniformly first price an this, I increases But number environment environment stocks, are exactly everything, are very trouble – we an our any are safety and well folks areas. miss meeting had et time. seeing a like you et to of and certainly it’s played tell down deliveries, with one an logistics cetera, of on we’re But length get we our how signs really it’s years. like this that and that increasing year already can. environment of is a embrace pricing trained, of that The today with increases remember trained in I are Anyway, cetera. market, but we across we’re we a company. for And we moving can’t and price safety certainly this we stocks. labor transportation

we’re getting and job it. So it. through a is I through in doing And we’re embracing team these fantastic our working our way issues think

answer if questions about any have know other that’s you, but don’t color for happy you it. I to enough So

David Larsen

helpful. No. very That’s actually

Robert Stefanovich

add Let me a in of other that it one flexibility have and us making quick, doing that gives is on aggressively sure is we’re that real one material procurement. just gentlemen supplier to we platform, as which our the things more relates redundancy that

David Larsen

Right.

that there a it in New level think, the MVE quarter, on, capacity And they last their going shift highest in second operating think was that plant like a mentioned had of capacity at I Jersey. at or I So was maximum was ever.

So because I anything those like can I been been can guess or have They maintained. that supply chain of we assume slowed levels productivity concerns. that haven’t – down

Jerrell Shelton

shifts. commented and adding are in additional that Georgia tell adding the was not Well, we’ve are Jersey. what I said, both actually extra you shifts, last was quarter, in can but on plants New Minnesota is Jersey, process. Jersey, that Minnesota, you both It plants New New

also to we We things plans capacity doing And for underway expansion in plant. improve have tactical within future. our are the strategic the then

we down customers. we’re better need response teamwork, down to working can to we which so So customer give great teams. loyal that backlog, And great our work that

David Larsen

in And XXXX declined I had the thought one pushing to then be with just that going terms of that into for BLAs XX and of more that filed and for it the XXXX? was those like are XXXX, me, to some in MAAs has XXXX,

Jerrell Shelton

short The it’s yes, come in. is answer

was it pushed of out. Some

one withdrew. Some that there was voluntarily

mix. So it’s a

it, from of to last think XXXX I it some to the we and down in XXXX XXXX. now down moved And quarter, XXXX

David Larsen

just Okay. I’m more, one And sorry. then

Thanks. in terms you give peers? from of And then more detail what why competitive share. In your you to the a you of winning a also you’re on exactly are you’re Can differentiates able the wins, market lot taking obviously and take little price?

Jerrell Shelton

you that? to want Mark, take

Mark Sawicki

Yes, I’m happy to.

are we a don’t gene aspects integrated why supply on all cell we fully do on We party to third pull if supply only business, our manage the packaging. look chain third So assets parties, we at We rely and share, subcontract distribution the the don’t in of you the take entity or space. chain. work

platform driver much is itself manage share. a have a risk. better And more for control and to us the allows in to significant that quality so that a And on

forecasting and as infrastructure and we and to at relates activity We curve the most the based activity. ramp looking other we’re have do to we we’re sure of an can we’re progressive that we’re that We and planned any as things is in support advance. not ahead it capacity management. other The make inventory organization so that reacting launch aggressive ensure commercial we the curve to adequate

of are around that the itself, So share focus contributors those platform look to risk. ability, our at and we significant capture our is eliminates all a as business our things provide

of that so commoditization to doesn’t relate space all. And at our

think to we that. do so risk it’s And We material supply any that something in. will interest chain, our aspect have not we a that’s not an of commoditize

Jerrell Shelton

what look to as different could of in all us could times, at driven. just else And Mark all you a the David, and too. equipment superlative industry. strive execute in improve that at you no said way. information we And We like, way think in process a those of being one

a it’s So looks customer when at compelling Cryoport. the formula

David Larsen

Great. again. Thanks

Jerrell Shelton

Thanks.

Operator

All right.

Next David Saxon the of Needham. coming from question from line

may proceed. You now

David Saxon

FDA? Chinese Can start Good maybe afternoon the out while is at how the just the of you the and talk market specifically back a And first XXX you moving relative thanks for important commercial do these and XXX. therapies is the When that lastly, you’ll cell My question there? on about regulatory pace to the region. bodies seeing to target five-year in revenue APAC taking revenue put think to approve you of APAC pace reaching which the are gene questions. to

Jerrell Shelton

Yes. part? take want Mark, that right do you It’s down question? to your

Mark Sawicki

commercial the particular, market, market, Singapore of out the market. we’re out revenue in seeing short The answer Japan Australia Certainly. APAC of is, already the

particular the pretends at lot of us to manifesting that is Korea are commercial in that be seeing reasons revenues we for seamlessly. is that to a APAC CRYOPDP. But allows which be therapies assets the also these we what China obviously as portfolio as a continue the of going And are China we’re we which So expansion through expansion we’re existing to like a of expand. commercial that’s And therapies in vast from We right market. significant the majority in have already to hard able believe substantial looking because infrastructure and basis to expand market, countries into aggressively supporting. India, long-term now out in are

hopefully answers question. your So that

David Saxon

margin, helpful. third mean, the in you’ve of I Yes. the residual That in issues like, they like some quarter. sounds there’s the And was in sounds it it then the peaked gross But fourth the some quarter. impact quarter, seen on third

Is my somewhere a I update in half? And Can just going give that gross at last least, we incremental the Thank shipper? just that on was So the just Cryosphere thinking And an to first you upfront. more material first the should question between then still margin you from or revenue and platform. much. total the XXXX. think second heard last perspective, the case? be so be planned for launch a quarter quarter to is I driver of I’ll ask

Jerrell Shelton

Cryosphere be a year to me couple comment I’ll first will target the then in of our half the of the on and but it and Let of first is those quarter up turn Robert, the XXXX.

shipper. it that and and it highly anticipating marketplace. is received a like There’s introduced well – So world the it’s after into and been we’re nothing has once the sought to revolutionary it in be

we’re Cryosphere. about So excited the

exactly In of unwind. headwinds one time. not just going look, things world take under who take and We across so the think the margin, think control. to it’s going world can’t period knows. that or in shorter It’s to I we how tell year mean, headwinds, you to to have going is of are We a the short for have the facing, going line that’s things a seize visibility of or terms sight. time we

most, when facing. that we haven’t say we our point. to that faced think handle. the things I been there’s is, we we nothing – to know I any when So saying it’s And how are we’ve able at but would And don’t most peak. handle That’s say, there’s judgment know Robert I this that best that, – of

talk you but let So with more I’ll that. improvement, about we do Robert anticipate

Robert Stefanovich

And transpiring. team, to not we’re yes, just, what’s as a reacting look Yes. yes,

is some of I the facing. well think even on we’re challenges last the of that aware industry the global said, call, we

we have action items. really that, is I the So think takeaway

the of. that We we’re have issues address actions to aware underway

is results drive redundancies we that to shown a manage we’re drive First market quarter forward have the you of again, to the I again, can as that well. share, can revenue, moving fourth expect quarter. that by ensure confident think strong not this have any disruption. and And we foremost, And it’s well,

David Saxon

so Thanks much congrats quarter. Great. the and on

Robert Stefanovich

Thank you.

Jerrell Shelton

Thank you.

Operator

question Zhi of [Operator Riley. coming from from Yuan is line B. the next Instructions] And our

may proceed. You now

Yuan Zhi

team Congratulations on outstanding I for have our culture. another taking you if of may. Thank few I questions.

So quick you are on other [indiscernible] issue Systems chain mentioned comment and and supply that the first, CRYOPDP. in a follow-up issue, supply how you does with Cryoport on can segments including your chain help have is, impact on

Jerrell Shelton

you other MVE product as can on where as that I margins the of that That think, costs margin a you It does was more again, quarter the look seen, businesses to the Solutions impacted equipment to and that really for not development, all, higher what at impact transportation significant. not not level we’ve business related units parts specific mostly significant at see if on at and business experienced were the Biological and margins. we other look the we revenue pricing. are mean but that’s related saw margins

in call we all at this that’s think I point So it can time.

a We those are supplier pricing underway are perspective. right initiatives now. from rolling in of And and a out number

believe with target our I is don’t gross still margin XX% circumstances can’t further really – adjusted that say XX%, that reiterating obviously current I take of given EBITDA margin. taking. on the we the time. some will that XX% do, I coupled we’re certainly So achievable gross margin But can’t we’re actions that comment

Yuan Zhi

like cases, Systems And within Systems helpful. MVE can and from sides the sell you maybe Cryoport very those between you. are That’s hear cross some customers on would Thank services it. you Got Cryoport successfully many where to are both Biologics. I the Yes. parks and your portfolio? the share progress if

Jerrell Shelton

service we those about revenues a about was it’s talked to. Systems, aspect everything to talked a kind we’re more synergy CRYOPDP comprehensive combined hand, companies we’re full of client and client And when to base referring of base. really having we where offering one in between Cryoport and revenues are that What the more now providing of to the solution. where is past And the our Cryoport in Mark referring Systems cross selling, quality

quarters. and we’ve well really progress a that’s cross three we’re talking about when So synergy the last companies revenues or offering underway the That’s two seen – comprehensive selling over where between that solution.

Yuan Zhi

Got Yep. it. you. Thank

Robert Stefanovich

also customer between referrals businesses see as the do We well.

Yuan Zhi

have. Yes. Thank you. I That’s all

Jerrell Shelton

you. Thank

Robert Stefanovich

Thank you.

Yuan Zhi

Thank you.

Operator

right. All

of today Johnson Jacob Our from Stephens. last question line the for comes from

proceed. may You now

Jacob Johnson

Hey, market just in MVE, that good can first about going maybe what about on sell you your right everybody. and up out of therapy question, kind you terms kind and on just following seeing of ability on build the you’re question, talk and to last that’s talk and of cold cell gene in Maybe evening, can MVE end the chain now.

Jerrell Shelton

sell sciences, We Biopharma/Pharma, into distributor global that network through directly, And Jacob, we at gene therapy into reproductive the network. distributor the through don’t we basis. and we do business. on it’s across we – sell sell a a and life We MVE, Biopharma but a cell medicine. we sell sell sell the in board

So at business that’s the how MVE. conduct we

Jacob Johnson

like advanced the then Jerry. handling these and that, And shipping for regulatory of Thanks just backdrop it. for Got therapies. on kind

a Can you of kind in aspect to maybe of attention on shipping the and the as guess, and us a there’s ago, or I be well? couple out came guidelines year I on or therapies, something another of highlighted that regulatory kind anything best some of of ISO abroad handling U.S. practices or the value guys quarters proposition we maybe or some of need some do. to update that paying just what kind think you these

Jerrell Shelton

actually ISO in some Mark developing has Yes. on that commentary We standard it. participated and I’m sure.

Mark Sawicki

an into out standard in basis. Yes, intercalate that now XXXX. went That we the the of start to do. application to is contributed development standard an in We understanding the ISO-XXXXX to organizations continuing from

year instantaneously. a listed We’re – those a the recommendations into from typically few It’s an expect bodies many being move three year regulatory period It in period. passed four doesn’t standard obligation ISO to also happen standpoint. to move also of of ISO out we to the

rest believe into we’ll of the from been European a that standpoint. standards absolutely we regulatory outlined that and the of there, move FDA traceability have So requirements many world and

Jacob Johnson

that, for Sawicki. Thanks it. Got Dr.

Jerrell Shelton

And really out with Jacob, quick. first you that that were was note a congrats the

Jacob Johnson

Thank you, Jerry.

Operator

right. All

have queue. call remarks. Shelton We further the in for to closing back questions no over I’ll turn Jerry

Jerrell Shelton

closing, for Well, to stakeholders. this exciting of and results on all And mission against strong progress In very for initiatives delivered to will the we we future questions. all a underway thank future. have focus continue as and we our The have I’d our say pretend you value for the that the have growth strategic like a business, are confident driven made your that we creation of about long-term we our plan Cryoport. year,

We’re you glad quarter continuing we updating Operator? in again next our join and We we programs progress – hope again have on today, evening. appreciate interest us on you look great our all a you we our forward to and your and company. forward look support – could

Operator

you, ladies Thank the that And today. very conference now disconnect for may much Thank call you sir. lines. Thank your and you gentlemen, for conclude and participation will your you.

Cryoport (CYRX) 5 Nov 212021 Q3 Earnings call transcript