Wed, Apr 30, 8:03 PM (18 days ago)
**Scorpius Holdings, Inc. (SCPX)** is a contract development and manufacturing organization (CDMO) providing comprehensive biologics manufacturing services, from process development to Current Good Manufacturing Practices (CGMP) clinical and commercial manufacturing of biologics. The company's services include clinical and commercial drug substance manufacturing, release and stability testing, and various process development services. Scorpius Holdings operates primarily through its subsidiary, Scorpius Biomanufacturing, Inc. (Scorpius Bio), which focuses on cell- and gene-based therapies and large molecule biologics. **Financial Performance (2024):** - **Revenue:** $6.0 million (CDMO revenue) and $0.2 million (NIH grant revenue). - **Net Income:** Net loss of $34.3 million. - **Operating Expenses:** $39.8 million. - **Earnings per Share:** Basic and diluted net loss per share of $13.04. **Strategic Overview:** - **Growth Strategy:** Diversifying the customer base, expanding service offerings, and increasing operating margins. - **Market Position:** Competing with established biomanufacturers like Lonza Group, WuXi AppTec, Avid Bioservices, and Catalent. - **Future Outlook:** Exploring strategic alternatives and considering multiple financing options, including equity financings, debt financings, and partnerships. **Risk Factors:** - **Financial Condition:** Significant accumulated deficit of $287.2 million and recurring losses. - **Operational Risks:** Dependence on a limited number of customers and potential disruptions due to unforeseen events. - **Regulatory Risks:** Compliance with various local, state, national, and international regulatory bodies. - **Market Risks:** Volatility in stock price and potential delisting from the NYSE American. **Financial Condition:** - **Cash and Cash Equivalents:** $1.2 million as of December 31, 2024. - **Liquidity:** Current cash is anticipated to be sufficient to fund operations only through April 2025. - **Funding Needs:** Considering multiple alternatives, including equity financings, debt financings, and partnerships. **Market Position Changes:** - **Delisting Notification:** Shares are currently suspended from trading on the NYSE American and are trading on the OTC Markets Pink Limited exchange. - **Future Outlook:** Engaged Alliance Global Partners to explore strategic alternatives and considering multiple financing options.