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CYRX.US
id: 955, Created by , Scout

Cryoport (CYRX) Revenue Downward Revision Case

  • In July, Cryoport announced preliminary Q2 23 financial results with an 11% revenue decrease.
  • On it, $CYRX fell 24.7%, losing $235M+ of shareholder value.
  • Investors may have grounds to suspect Cryoport of issuing unrealistic revenue forecasts.
On July 12, 2023, Cryoport announced preliminary Q2 financial results and disclosed that its Q2’ 2023 total revenue was expected to decrease by 11% compared to Q2’ 2022. The Company attributed the shortfall to
  • global slowdown in capital equipment investment;
  • number of clinical trial start delays;
  • several key customers falling short of their forecasts for the revenue ramp of certain cell and gene therapies.
On this news, $CYRX fell 24.7% and lost over $235 million of its market capitalization, seriously damaging shareholders.

Considering all the information, investors might have grounds to suspect that Cryoport and its executives failed to produce accurate revenue forecasts, which consequently led to their losses.

The case is already under investigation by at least one of the reputable law firms.
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
13 July 2023
Collecting participants…

Cryoport Inc

Cryoport, Inc. provides temperature-controlled supply chain solutions in biopharma/pharma, animal health, and human reproductive medicine markets in the Americas, Europe, the Middle East, Africa, a...

    Ticker
    CYRX.US
    ISIN
    US2290503075
    CIK
    1124524
    Sector
    Industrials
    Industry
    Integrated Freight & Logistics
    Country
    USA
    Address
    112 Westwood Place, Brentwood, TN, United States, 37027