Did BioLife Solutions Run Too Much?
BioLife Solutions has been riding high on the biotech wave. However, the question is whether BioLife risen too much.
The health care sector has come alive over the past year, headed up by monumental developments within biotech and pharmaceutical companies. BioLife Solutions Inc. (NASDAQ: BLFS) is riding high on this biotech wave. However, there is a question. Has BioLife risen too much?
The jump originally happened when BioLife reported several new customer disclosures on the use of its CryoStor and HypoThermosol biopreservation media products in pre-clinical validation projects and clinical trials. These disclosures took place at the recent International Society for Cellular Therapy (ISCT) conference.
BioLife is developer, manufacturer and marketer of proprietary clinical grade cell and tissue hypothermic storage and cryopreservation freeze media. It also has a related cloud-hosted biologistics cold chain management app for smart shippers.
In layman terms, this company is capable of shipping and preserving biologic material for cell and tissue based products, even organs. Shipments are controlled via a cloud-hosted app on which they can be tracked and monitored.
Mike Rice, president and CEO of BioLife, commented on the conference and the disclosures:
This ISCT conference was a tremendous success for BioLife by any measure. We learned of several new groups using our biopreservation media products in clinical applications. Traffic at our exhibit was constant throughout the conference, as interest in our new evo smart shipper and cloud hosted biologistex app was very strong. We captured dozens of qualified leads and this event reconfirmed our belief that we have a phenomenal opportunity to help our customer further optimize yield and cost in the manufacturing and delivery logistics of their biologic based therapies, while improving the quality of their distribution practices.
Shares of BioLife were up nearly 60% at $3.15 Wednesday afternoon, in a 52-week trading range of $1.50 to $4.44.
Despite this monumental move, it might appear that BioLife shares are going to give back some of this gain. On the day, the stock hit a new 52-week high at $4.44 and has since slowly retreated. Perhaps this could continue into Thursday.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
