Some share price moves to keep an eye on in the market: CRYOSITE (CTE) at 43c: Cryosite joined the sharemarket lists today at a modest premium to issue price. The 40c shares opened at 45c, fell to 40c before improving to 43c. The company operates Australia's only long-term storage facility for umbilical cord blood.
Comapny Update
CRYOSITE LIMITED 2002-05-08 ASX-SIGNAL-G
HOMEX - Sydney
+++++++++++++++++++++++++ ASX & MEDIA RELEASE 3 MAY 2002
Cryosite Limited, which closed its $3.4 million IPO early and oversubscribed, will list on the Australian Stock Exchange at 11.00am tomorrow, Thursday 9 May 2002.
Cryosite advises the following update on Rs business: The company launched its cord blood service on 17 December 2002 and initiated an extensive advertising and marketing campaign in March 2002 For the period January to March 2002, 59 cord blood stem cell contracts were received with another 43 signed from the beginning of April to 8 May 2002.
To date, cord blood samples have been received from 39 hospitals within Australia and New Zealand. As well as major capitals, country areas such as Maitland and Rockhampton have been serviced.
Currently there are 62 participating obstetricians from an estimated maximum of 800 practicing in Australia.
Cryosite's exclusive distribution of American Type Culture Collection products in Australia and New Zealand commenced operations in March 2002. Sales for April were $43,000 with margins above expectations.
Proceeds of the IPO will finance establishing cord blood stem cell service offices in Melbourne and Brisbane and employing a specialist archival storage sales representative.
Negotiations are continuing to establish a joint venture company to market the cord blood service in SA, WA and NT.
The company is actively promoting its specialist distribution service to the clinical trial market and expects to sign another three contracts shortly.
The company will have sufficient cash on hand following the listing to meet its prospectus objectives. There are no plans for additional capital raising.
Cryosite is working closely with a number of potential clients to provide a range of value-added service, such as, a combination of robotic sample handling, data management and cryostorage.
Cryosite has a total full-time staff of seven and has established a World's Best Practice facility to provide a unique range of logistics and service support to the research, biotechnology and clinical trials community and its success is linked to the level of activity in these areas, not the actual discovery process.
Cryosite is the only company authorised by the Therapeutic Goods Administration to provide a private service in Australia for the collection and storage of umbilical cord blood stem cells. It also holds ISO/IEC 117025 Accreditation from the National Association of Testing Authorities.
The physical storage service is integrated with Cryosite's unique sample inventory and data management system, Cryobyte, which is an Internet based system that allows clients remote access for the recording and management of data relating to their samples.
FOR FURTHER INFORMATION: MR GORDON MILLIKEN, MANAGING DIRECTOR, CRYOSITE LIMITED, TEL 02 94201412
Comapny Update
CRYOSITE LIMITED 2002-05-08 ASX-SIGNAL-G
HOMEX - Sydney
+++++++++++++++++++++++++ ASX & MEDIA RELEASE 3 MAY 2002
Cryosite Limited, which closed its $3.4 million IPO early and oversubscribed, will list on the Australian Stock Exchange at 11.00am tomorrow, Thursday 9 May 2002.
Cryosite advises the following update on Rs business: The company launched its cord blood service on 17 December 2002 and initiated an extensive advertising and marketing campaign in March 2002 For the period January to March 2002, 59 cord blood stem cell contracts were received with another 43 signed from the beginning of April to 8 May 2002.
To date, cord blood samples have been received from 39 hospitals within Australia and New Zealand. As well as major capitals, country areas such as Maitland and Rockhampton have been serviced.
Currently there are 62 participating obstetricians from an estimated maximum of 800 practicing in Australia.
Cryosite's exclusive distribution of American Type Culture Collection products in Australia and New Zealand commenced operations in March 2002. Sales for April were $43,000 with margins above expectations.
Proceeds of the IPO will finance establishing cord blood stem cell service offices in Melbourne and Brisbane and employing a specialist archival storage sales representative.
Negotiations are continuing to establish a joint venture company to market the cord blood service in SA, WA and NT.
The company is actively promoting its specialist distribution service to the clinical trial market and expects to sign another three contracts shortly.
The company will have sufficient cash on hand following the listing to meet its prospectus objectives. There are no plans for additional capital raising.
Cryosite is working closely with a number of potential clients to provide a range of value-added service, such as, a combination of robotic sample handling, data management and cryostorage.
Cryosite has a total full-time staff of seven and has established a World's Best Practice facility to provide a unique range of logistics and service support to the research, biotechnology and clinical trials community and its success is linked to the level of activity in these areas, not the actual discovery process.
Cryosite is the only company authorised by the Therapeutic Goods Administration to provide a private service in Australia for the collection and storage of umbilical cord blood stem cells. It also holds ISO/IEC 117025 Accreditation from the National Association of Testing Authorities.
The physical storage service is integrated with Cryosite's unique sample inventory and data management system, Cryobyte, which is an Internet based system that allows clients remote access for the recording and management of data relating to their samples.
FOR FURTHER INFORMATION: MR GORDON MILLIKEN, MANAGING DIRECTOR, CRYOSITE LIMITED, TEL 02 94201412
CTE Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
(20min delay)