Thermogenesis Roll Out Manufacturing Suite for Use in Early Stage Cell, Gene Therapy, Stock Ascension

Thermogenesis Holdings Inc (NASDAQ: THMO) is opening a new facility in the Sacramento metro area, consisting of 12 Class-7, ReadyStart cGMP suites leased by Early Stage Life Sciences and cell gene therapy companies,
The roll-out of the ReadyStart suite is part of a previously announced plan to transform from a medical device company into a contract development and manufacturing organization in the cell gene therapy field.
The facility is expected to be available to customers in the second or third quarter of this year.
The company expects to generate an estimated $10 million – $16 million in annual revenue if fully captured.
In November, THMO reported a 33% net revenue decline to $2.1 million for its Q3 ended September 30, 2022.
ReadyStart Suites are in a 35,500+ sq. ft. cGMP facility.
ThermoGenesis’ ReadyStart cGMP cleanrooms are ideal for early stage companies looking to rapidly jump-start and/or expand their development efforts within the same facility, providing a turnkey solution.
In addition, the suites will eliminate a tremendous resource burden and accelerate the development cycle by allowing resident companies to focus on their core science.
Price Action: THMO shares are up 87.7% at $3.96 at last check on Wednesday.