Investors may have found reason to celebrate today after CryoPort, Inc. (OTC:CYRX) reported to have bagged pharmaceutical giant Pfizer Inc. (PFE) as a client. Filing an 8-K at 2:38PM today, volume spiked on CYRX stock as the share price quickly rose to nearly 0.32, an intraday gain of 81.14%. While the celebration was short lived, the benefit of being able manage all domestic and international frozen shipments of Pfizer’s primary animal vaccines could be the catalyst to finally seeing gross profit for the cold chain frozen shipping company.
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CYRX Stock Chart
Market Cap: 9.82M
Close: 0.26 ▲ 0.07 (36.84%)
Volume: 761,030
Dollar Volume: $178,954
High: 0.317
Low: 0.175
Trades: 109
Average Trade Size: 6,981
Authorized: 250,000,000
Issued and Outstanding: 37,760,628
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While the shares have fallen from their YTD high set back in mid January, 0.90, multiple bull rallies have allowed opportunities for traders to step in for some easy 25% gains or better. However, volume on CYRX didn’t really begin to pick up until October when we first alerted on the niche market shipper. Since then, there have been two rallies whereby the share price has provided opportunities for 50% gains, especially since bottoming out at 0.1101 just two weeks ago.
The new agreement (see here) with Pfizer apparently calls for the Company to provide on-site logistics personnel and its logistics management platform, the Cryoportal™, to manage shipments from Pfizer’s manufacturing site in the United States to its domestic customers as well as to its international distribution centers ensuring on-time delivery and the best uses of resources. At inception, Cryoport s expected to manage Pfizer’s total fleet of shippers used for this purpose, including liquid nitrogen shippers, and, over time, expected to systematically phase-in their patented Cryoport Express® Shippers and integrated Cryoportal software.
Considering the cash flow issues that Cryoport has been managing, $2,655,869 and $3,191,314 net cash used in operations for the six months ended September 30, 2012 and 2011, respectively, the new agreement would be better accepted from the investor point of view if some details of expected revenues could be estimated. The Company has continued to grow YoY revenues which is superb for long investors, but until the cost of generating those revenues can provide some way to produce gross profits, the scene may remain the same where CYRX is just a blip on the radar every now and then.
About CYRX Stock
Cryoport Inc. provides comprehensive solutions for frozen cold chain logistics, primarily in the life science industries which includes bio-pharmaceuticals and biologics, including in-vitro fertilization, cell lines, vaccines, tissue and other commodities requiring a reliable frozen solution. Click here to view the SEC filings for CYRX.
Bottom Line: CYRX bagged the elephant today in Pfizer and should be on the list of The penny stocks for 2013. A PR announcement could send CYRX stock into mini orbit which would allow a chance for a quick flip for those in already as well as a long investors chance to step in when the PPS comes back down. Until cash flow, which has improved over since 2011, improved dramatically, investors will want to keep a close watch on financing agreements which include the sale of shares.
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