Stock News Alert: BioLife Solutions, Inc. (NASDAQ: BLFS)

BioLife Solutions, Inc. (NASDAQ: BLFS) has market worth of 328.95M along 18.68M outstanding shares. The stock moved 0.74% to $17.74 in recent session. The recent traded volume was 34779 shares. The stock had closed at $17.61 on the previous day.

In terms of profitability, BioLife Solutions, Inc. has a gross margin of 68.50%, an operating margin of 18.80% and a net profit margin of 14.80%. Return on assets come to 9.30% and return on investment coming to 8.50% while Return on equity come to 10.00%.

BioLife Solutions, Inc. (NASDAQ: BLFS) reported that it has closed the previously declared transaction for the acquisition of Astero Bio Corporation (“Astero”), an innovator in the design, development and commercialization of novel automated thawing devices for cell and gene therapies, for an upfront cash payment of $8 million.

The acquisition is expected to further strengthen BioLife’s position as a leading supplier of disruptive, enabling tools used in the manufacture, storage and distribution of cell and gene therapies. Astero’s ThawSTAR® product line broadens BioLife’s bioproduction tools portfolio and we believe increases our footprint and engagement level in our customers’ cell and gene therapy manufacturing workflow.

The ThawSTAR product line is comprised of a family of automated thawing devices for frozen cell and gene therapies packaged in cryovials and cryobags. The products improve the quality of administration of high-value, temperature-sensitive biologic therapies to patients by standardizing the thawing process and reducing the risks of contamination and overheating, which are inherent with the use of traditional water baths. In a recently published market research report, Infinium Global Research estimates that the worldwide market for automated thawing devices will exceed $150 million by 2024, driven by the growth in the number of cell and gene therapy clinical trials and approvals.

The stock has recorded a weekly performance of -6.23% and monthly performance is -9.32%. Shares have moved 44.58% over the last quarter and changed 2.21% over the recent six months. The shares registered yearly performance at 243.27% and YTD move seen at 46.38%

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