Cord Blood Bank Leader Cryo-Cell Reports Second Quarter 2021 Financial Results

OLDSMAR, Florida, July 15, 2021 (GLOBE NEWSWIRE) – Cryo-Cell International, Inc. (OTC: QB Markets Group Symbol: CCEL) (the “Company”), the world’s first private cord blood bank to separate and store stem cells in 1992, announced results for the second fiscal quarter ended May 31, 2021.

Financial results

Returned

Consolidated revenues for the second quarter of fiscal 2021 amounted to $ 7.21 million compared to $ 7.87 million for the second quarter of fiscal 2020, a decrease of 8%. Fiscal 2021 second quarter revenue consisted of $ 7.16 million in processing and storage fee revenue and $ 46,000 in public bank revenue, compared to $ 7.40 million in fee revenue processing and storage, $ 57,000 in product income, $ 214,000 in public banking income and $ 202,000 in licensing. and royalty revenues for the second quarter of fiscal 2020.

Net revenue

The Company reported net income for the quarter ended May 31, 2021 of $ 1.17 million, or $ 0.15 per basic share and $ 0.14 per diluted share, compared to net income of 953,000 $, or $ 0.13 per basic share and $ 0.12 per diluted share for the three months. ended May 31, 2020. During the quarter ended May 31, 2021, revenues decreased by 8%, which was offset by a 10% decrease in cost of sales and a 12% decrease in selling expenses, general and administrative. For the quarter ended May 31, 2021, the Company recorded a decrease of $ 432,000 compared to an increase of $ 27,000 for the quarter ended May 31, 2020, in the fair value of the liability for contingent consideration from the potential earn-out to which Cord: Use is entitled on the sale by the Company of the public inventory of purchased cord blood. In addition, for the quarter ended May 31, 2021, the Company recorded an amortization charge of $ 240,000 related to the patent and technology license agreement with Duke University.

About Cryo-Cell International, Inc.

Founded in 1989, Cryo-Cell International, Inc. is the world’s first private cord blood bank. More than 500,000 parents in 87 countries have entrusted their babies with cord blood and stem cells from cord blood to Cryo-Cell International. In addition to its private banking, Cryo-Cell International has a public banking program in partnership with Duke University. The Cryo-Cell Public Bank has provided cord blood for more than 600 transplants and operates cord blood donation sites across the United States at leading hospitals such as Cedars-Sinai Hospital in Los Angeles and Baptist Hospital in Miami. The Cryo-Cell installation is FDA registered, cGMP / cGTP compliant, and licensed in all licensing states. In addition to being accredited by the AABB as a cord blood establishment, Cryo-Cell was also the first US cord blood bank (for private use only) to receive FACT accreditation for have adhered to the strictest cord blood quality standards set by any internationally recognized, independent accreditation body. Cryo-Cell owns the exclusive rights to PrepaCyte-CB, the most advanced cord blood processing technology in the industry.

Cryo-Cell’s mission has been to provide customers with state-of-the-art cord blood and cord tissue cryopreservation services, educate expectant parents about the possibility of banking or donating their baby’s cord blood and support the advancement of regenerative medication. In February 2021, Cryo-Cell entered into a licensing agreement with Duke University that transformed Cryo-Cell into a stand-alone, vertically integrated cell therapy company capable of treating patients. In addition to this, you need to know more about it.

Cryo-Cell is a publicly traded company, symbol: CCEL. In addition to this, you need to know more about it.
For more information, please visit IR.cryo-cell.com

Forward-looking statements

Statements herein, the terms “believe”, “intend”, “plans”, “anticipate”, “expect” and similar expressions used are intended to reflect the “forward-looking statements” of the Company. The information contained in this document is subject to various risks, uncertainties and other factors which could cause actual results to differ materially from the results anticipated in such forward-looking statements or paragraphs, many of which are beyond the control of the Company. These uncertainties and other factors include the impact of the COVID-19 pandemic on our sales, operations and supply chain, the success of the Company’s global expansion and product diversification initiatives, participation real future of the Company in future therapies resulting from its collaborative research partnerships. , the success linked to its intellectual property portfolio, the future competitive position of the Company in stem cell innovation, the future success of its core business and the competitive impact of public cord blood banks on the businesses of the Company, the success of the Company’s initiative to expand its core business units to include biopharmaceutical manufacturing and operating clinics, the uncertainty of the profitability of its biopharmaceutical manufacturing and operating clinics , the Company’s ability to minimize future costs to the Company related to R&D initiatives and collaborations and the success of these initiatives and collaborations, the success and applicability of the Umbilical Cord Blood License Agreements and umbilical tissue of the Company, as well as the associated intellectual property and their ability to provide the Company with royalties, as well as the risks and uncertainties contained in the risk factors described in documents that the Company files from time to time with the Securities and Exchange Commission, including the most recent annual report on form 10-K, quarterly reports on form 10 -Q and all current reports on Form 8-K filed by the company. The Company disclaims any obligation to subsequently revise forward-looking statements to reflect events or circumstances occurring after the date of such statements.

Contact:

Diane Glanz, Rph, PharmD
Investor Relations Consultant
813-749-2195
[email protected]

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