Full year 2022 commercial revenue expected to be between $17.0 million and $17.2 million
Finished 2022 with approximately $140 million in cash and investments providing runway at least into 2026
Company to Present at the 41st Annual J.P. Morgan Healthcare Conference on January 12, 2023
LOWELL, Mass., Jan. 11, 2023 (GLOBE NEWSWIRE) -- Rapid Micro Biosystems, Inc. (NASDAQ:RPID) (the "Company"), an innovative life sciences technology company providing mission critical automation solutions to facilitate the efficient manufacturing and fast, safe release of healthcare products, today announced preliminary unaudited fourth quarter and full year 2022 revenue.
Select Fourth Quarter 2022 Highlights and Preliminary Unaudited Revenue
- Placed two Growth Direct systems and completed the validation of three systems
- Added new global Top 20 pharma customer in the U.S. and new large pharma customer in Japan
- Launched RMBNucleus Mold Alarm software
The Company currently expects total commercial revenue of between $4.2 and $4.4 million in the fourth quarter of 2022.
Preliminary Unaudited Full Year 2022 Revenue
The Company currently expects total commercial revenue of between $17.0 to $17.2 million for the full year of 2022. The Company placed nine new systems and completed the validation of 19 new systems during 2022.
Robert Spignesi, President and CEO, said, "We are pleased with our fourth quarter performance, which was in line with our expectations. As in-person customer interactions and commercial execution continue to improve, we are confident we will further capitalize on the market opportunity for the Growth Direct system. We have the industry leading platform and a strong balance sheet to help us usher in our next chapter of robust, sustainable growth."
The preliminary financial results ranges described herein have not been audited and are subject to adjustment based on the Company's completion of year-end financial close processes.
The Company plans to announce complete financial results for the fourth quarter and full year 2022 and host a webcast to discuss those results as well as its 2023 outlook in March.