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?
Source: Thinkstock
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.
ALSO READ: 4 Overlooked Winners From ASCO
Essential Tips for Investing: Sponsored
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
