Anticipates substantial booked business and associated revenues in Q3/Q4
DURHAM, NC / ACCESSWIRE / August 6, 2024 / Scorpius Holdings, Inc (NYSE American:SCPX), ("Scorpius" or the "Company"), an integrated contract development and manufacturing organization (CDMO), today announced that it has surpassed $100 million in weighted average pipeline of its near-term business development opportunities across both government and manufacturing client sectors. The weighted average pipeline is represented by written proposals which are subject to the execution of definitive agreements. The Company expects these opportunities to translate into substantial booked business and associated revenues over the next two quarters; however there can be no assurance of this.
Key opportunities include:
Several new manufacturing customers within the current quarter have significantly progressed within our weighted pipeline
Multiple repeat client booking opportunities that may carry over into 2025, representing an anticipated $15 million in additional bookings
-
Multiple opportunities for expanded scope of work with existing clients, including
A single project that could consume a majority of Scorpius' microbial production capacity and trigger capacity expansion activities in the Company's 2025 microbial production suites
Anticipated substantial project expansion with one of the nation's leading universities
Government proposals submitted to fund an additional Bio Safety Level 3 capable facility along with several innovative monoclonal antibody development programs
Jeff Wolf, CEO of Scorpius Holdings, commented, "We are extremely proud of our progress, as evidenced by the breadth and depth of our pipeline representing these business development opportunities. We expect to close on many of these opportunities before the year's end, which we expect will not only generate substantial revenue this year and next, but also contribute significantly to our cash flow. We believe our success is due to the strides we've made in terms of innovation, as well as customer-centric program management across our platform of services. We look forward to building on this momentum in the months ahead."
Scorpius Holdings, Inc.
Scorpius Holdings Inc. is an integrated contract development and manufacturing organization (CDMO) focused on rapidly advancing biologic and cell therapy programs to the clinic and beyond. Scorpius offers a broad array of analytical testing, process development, and manufacturing services to pharmaceutical and biotech companies at its state-of-the-art facilities in San Antonio, TX. With an experienced team and new, purpose-built U.S. facilities, Scorpius is dedicated to transparent collaboration and flexible, high-quality biologics biomanufacturing. For more information, please visit www.scorpiusbiologics.com.
Forward-Looking Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions, and include statements such as the weighted average pipeline surpassing $100 million in near-term business development opportunities across both government and manufacturing client sectors, anticipating substantial booked business and associated revenues in Q3/Q4, the opportunities translating into substantial booked business and associated revenues over the next two quarters several new manufacturing customers within the current quarter significantly progressing within the Company's weighted pipeline, the Company having multiple repeat client booking opportunities that may carry over into 2025 representing an anticipated $15 million in additional bookings, the Company having multiple opportunities for expanded scope of work with existing clients, including a single project that could consume a majority of the Company's 2025 microbial production suites and substantial project expansion with one of the nation's leading universities, the government proposal submitted to fund an additional Bio Safety Level 3 capable facility along with several innovative monoclonal antibody (mAb) programs, closing on a many of these opportunities before the year's end, generating substantial revenue this year and next, but also contributing significantly to cash flow, the Company's success being due to the strides made in terms of innovation, as well as customer-centric program management across its platform of services and building on this momentum in the months ahead. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company's ability to close on its near-term business development opportunities across both government and manufacturing client sectors; the Company's ability to generate substantial revenue and contribute significantly to cash flow; the Company's financing needs, its cash balance being sufficient to sustain operations and its ability to raise capital when needed, the Company's ability to leverage fixed costs and achieve long-term profitability; the Company's ability to obtain regulatory approvals or to comply with ongoing regulatory requirements, regulatory limitations relating to the Company's ability to successfully promote its services and compete as a pure-play CDMO, and other factors described in the Company's annual report on Form 10-K for the year ended December 31, 2023, subsequent other filings the Company makes with the SEC. The information in this presentation is provided only as of the date presented, and the Company undertakes no obligation to update any forward-looking statements contained in this presentation on account of new information, future events, or otherwise, except as required by law.
Media and Investor Relations Contact
David Waldman
+1 919 289 4017
ir@scorpiusbiologics.com
SOURCE: Scorpius BioManufacturing
View the original press release on accesswire.com
