An investigation for investors in Cryoport, Inc. (NASDAQ:CYRX) shares over potential securities laws violations by Cryoport, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 08/09/2023 -- Cryoport, Inc. is under investigation over potential securities laws violations in connection with certain financial statements.
Investors who purchased shares of Cryoport, Inc. (NASDAQ: CYRX), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Cryoport, Inc. (NASDAQ: CYRX regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Brentwood, TN based Cryoport, Inc. provides temperature-controlled supply chain solutions in biopharma/pharma, animal health, and human reproductive medicine markets in the Americas, Europe, the Middle East, Africa, and the Asia Pacific.
On July 12, 2023, after market hours, Cryoport, Inc. announced preliminary second-quarter financial results, and disclosed that its second quarter 2023 total revenue "is expected to be in the range of $56.5 to $57.5 million, representing a decrease of 11%, at the midpoint, compared to the second quarter of 2022." The Company attributed the shortfall to "a global slowdown in capital equipment investment" as well as "a number of clinical trial start delays and several key customers falling short of their forecasts for the revenue ramp of certain cell and gene therapies."
Shares of Cryoport, Inc. (NASDAQ: CYRX) declined from $29.98 per share on October 27, 2022, to as low as $12.91 per share on August 08, 2023.
Those who purchased shares of Cryoport, Inc. (NASDAQ: CYRX) have certain options and should contact the Shareholders Foundation.
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