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MaxCyte, Inc., (NASDAQ:MXCT), a leading, cell-engineering focused company providing enabling platform technologies to advance the discovery, development and commercialization of next-generation cell therapeutics, today announced a restructuring of its operations to better align resources with its strategic priorities. This plan includes a reduction of approximately 34% of the Company's global workforce, inclusive of employees engaged through employer-of-record (EOR) arrangements. Anticipated annualized savings as a result of this action are expected to be approximately $13.6 million.
This workforce reduction is part of MaxCyte's commitment to significantly reduce operating expenses, streamline its organizational structure, and accelerate its path toward profitability. The Company expects this action to yield meaningful cost savings while maintaining focus on its core mission of enabling the next generation of cell therapies.
Consistent with its previously issued outlook, MaxCyte is reiterating that 2025 core revenue is expected to be flat to down approximately 10% compared to 2024. The Company continues to anticipate approximately $5 million in SPL program-related revenue for the full year and expects year-end cash, cash equivalents, and investments to be at least $155 million.
The Company noted that this workforce reduction represents all the anticipated employee-related actions under the restructuring.
Posted In: MXCT
