Orgenesis Inc
NASDAQ:ORGS
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Orgenesis Inc
NASDAQ:ORGS
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Orgenesis Inc
Orgenesis, Inc. is a biotechnology company, which engages in the development, manufacturing and provision of technologies and services in the cell and gene therapy industry. The company is headquartered in Germantown, Maryland and currently employs 151 full-time employees. The company went IPO on 2010-07-01. The firm is focused on autologous therapies, with processes and systems that are developed for each therapy using a closed and automated processing system approach that is validated for compliant production near the patient for treatment of the patient at the point of care (POCare). The company has developed a Point of Care Platform (POCare Platform) comprised of three enabling components, which includes a pipeline of POCare advanced therapies that are designed to be processed and produced, automated closed POCare technology systems, and a worldwide network of POCare research institutes and hospitals (POCare Network). Its products in clinical use include KYSLECEL, Tissue Genesis Icellator for Cell Assisted Lipotransfer, Cartil-S Autologous products for the treatment of osteoarthritis, and Chondroseal Autologous products for the treatment of cartilage defects.
Orgenesis, Inc. is a biotechnology company, which engages in the development, manufacturing and provision of technologies and services in the cell and gene therapy industry. The company is headquartered in Germantown, Maryland and currently employs 151 full-time employees. The company went IPO on 2010-07-01. The firm is focused on autologous therapies, with processes and systems that are developed for each therapy using a closed and automated processing system approach that is validated for compliant production near the patient for treatment of the patient at the point of care (POCare). The company has developed a Point of Care Platform (POCare Platform) comprised of three enabling components, which includes a pipeline of POCare advanced therapies that are designed to be processed and produced, automated closed POCare technology systems, and a worldwide network of POCare research institutes and hospitals (POCare Network). Its products in clinical use include KYSLECEL, Tissue Genesis Icellator for Cell Assisted Lipotransfer, Cartil-S Autologous products for the treatment of osteoarthritis, and Chondroseal Autologous products for the treatment of cartilage defects.
Revenue: Orgenesis reported $7 million in Q2 2023 revenue, down slightly from $7.2 million in Q2 2022.
Business Model Shift: The company accelerated its decentralized, point-of-care strategy through its rebranded Octomera segment, focusing on cost-effective cell and gene therapy production.
Octomera Expansion: Notable progress includes a new partnership with the University of California and the opening of a hub at UC Davis, setting the stage for wider U.S. expansion.
Cost Pressures: Cost of revenues rose sharply to $3.2 million, up 204% year-over-year, mostly due to investments in the Octomera segment.
Loss Reduction: Net loss and comprehensive loss narrowed by about a third compared to last year, reflecting operational improvements.
Funding Update: The company highlighted fresh investment from Metalmark Capital, expected to support further rollout and expansion.
Liquidity: Ended the quarter with $1.2 million in cash, not including recent funding received after the quarter closed.
Leadership Change: Announced the appointment of a new CFO, Elliot Maltz, starting September 1.
