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Thermo Fisher (TMO) Opens New Cell Therapy Facility at UCSF
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Thermo Fisher Scientific (TMO - Free Report) recently opened a cGMP manufacturing facility at the University of California, San Francisco (“UCSF”) Medical Center’s Mission Bay campus. The center will be used to accelerate the development and manufacturing of cell-based therapies for complex and rare diseases, including cancer.
The UCSF partnership, which was announced in 2021, will potentially expedite the development of breakthrough treatments by having scientists, clinicians and patients closer to a manufacturing site.
Significance
As part of Thermo Fisher’s global pharma services - supporting cell and gene therapies, the UCSF facility will be initially used in treatments for glioblastoma, multiple myeloma and other cancers using updated approaches to CAR-T and CRISPR technologies.
Image Source: Zacks Investment Research
In the new unit, the company offers its customers a range of services for advanced therapies. These include process and analytical development capabilities, clinical and commercial manufacturing services and drug development capabilities from discovery to the commercialization phase.
The rapid emergence of Cell therapy within biotechnology promises future therapeutic applications. Per a representative at Thermo Fisher, a record number of cell therapy approvals in the past two years and the consideration of CAR-T therapies as an early treatment option have forged new partnerships and completely transformed clinical care.
Industry Prospects
Per a Research report, the global cell therapy market was valued at $21.6 billion in 2022 and is expected to witness a CAGR of 14.15% by 2030.
The rise in funding for cell therapy clinical studies, the adoption of useful guidelines for cell therapy manufacturing, and the success of novel products are some of the major factors influencing growth in the number of companies in the market.
Recent Developments
Earlier this month, Thermo Fisher Scientific introduced the Thermo Scientific iCAP RQplus ICP-MS Analyzer. It is a new trace elemental analyzer that simplifies everyday analyses in environmental, food, pharmaceutical and industrial testing laboratories.
In the same month, the company introduced the Thermo Scientific µPAC Neo HPLC Columns for proteomics and biopharmaceutical research. The new line of low-flow HPLC columns improves the separation performance and stability of biologically complex samples.
Price Performance
In the past six months, Thermo Fisher has mostly underperformed its industry. TMO shares have increased 8.5% compared with the industry’s rise of 12.7%.
Zacks Rank and Other Key Picks
Thermo Fisher Scientific currently carries a Zacks Rank #2 (Buy).
Haemonetics’ stock has risen 29.1% in the past year. Earnings estimates for Haemonetics have remained constant at $2.94 in 2023 and $3.29 in 2024 in the past 30 days.
HAE’s earnings beat estimates in all the last four quarters, delivering an average surprise of 10.98%. In the last reported quarter, it reported an earnings surprise of 7.59%.
Estimates for Catalyst Pharmaceuticals’ 2023 earnings have increased from $1.17 to $1.42 in the past 30 days. Shares of the company have increased 102.7% in the past year.
CPRX’s earnings beat estimates in three quarters while beating the same in one, the average surprise being 3.35%. In the last reported quarter, Catalyst Pharmaceuticals delivered an earnings surprise of 4.76%
Estimates for Avanos Medical’s 2023 earnings have remained constant at $1.68 in the past 30 days. Shares of the company have declined 14.3% in the past year compared with the industry’s fall of 18.2%.
AVNS’ earnings beat estimates in all the trailing four quarters, the average surprise being 11.01%. In the last reported quarter, Avanos Medical delivered an earnings surprise of 25%.
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Thermo Fisher (TMO) Opens New Cell Therapy Facility at UCSF
Thermo Fisher Scientific (TMO - Free Report) recently opened a cGMP manufacturing facility at the University of California, San Francisco (“UCSF”) Medical Center’s Mission Bay campus. The center will be used to accelerate the development and manufacturing of cell-based therapies for complex and rare diseases, including cancer.
The UCSF partnership, which was announced in 2021, will potentially expedite the development of breakthrough treatments by having scientists, clinicians and patients closer to a manufacturing site.
Significance
As part of Thermo Fisher’s global pharma services - supporting cell and gene therapies, the UCSF facility will be initially used in treatments for glioblastoma, multiple myeloma and other cancers using updated approaches to CAR-T and CRISPR technologies.
Image Source: Zacks Investment Research
In the new unit, the company offers its customers a range of services for advanced therapies. These include process and analytical development capabilities, clinical and commercial manufacturing services and drug development capabilities from discovery to the commercialization phase.
The rapid emergence of Cell therapy within biotechnology promises future therapeutic applications. Per a representative at Thermo Fisher, a record number of cell therapy approvals in the past two years and the consideration of CAR-T therapies as an early treatment option have forged new partnerships and completely transformed clinical care.
Industry Prospects
Per a Research report, the global cell therapy market was valued at $21.6 billion in 2022 and is expected to witness a CAGR of 14.15% by 2030.
The rise in funding for cell therapy clinical studies, the adoption of useful guidelines for cell therapy manufacturing, and the success of novel products are some of the major factors influencing growth in the number of companies in the market.
Recent Developments
Earlier this month, Thermo Fisher Scientific introduced the Thermo Scientific iCAP RQplus ICP-MS Analyzer. It is a new trace elemental analyzer that simplifies everyday analyses in environmental, food, pharmaceutical and industrial testing laboratories.
In the same month, the company introduced the Thermo Scientific µPAC Neo HPLC Columns for proteomics and biopharmaceutical research. The new line of low-flow HPLC columns improves the separation performance and stability of biologically complex samples.
Price Performance
In the past six months, Thermo Fisher has mostly underperformed its industry. TMO shares have increased 8.5% compared with the industry’s rise of 12.7%.
Zacks Rank and Other Key Picks
Thermo Fisher Scientific currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the overall healthcare sector are Haemonetics Corporation (HAE - Free Report) , Catalyst Pharmaceuticals (CPRX - Free Report) and Avanos Medical (AVNS - Free Report) . Haemonetics and Catalyst Pharmaceuticals each sport a Zacks Rank #1 (Strong Buy), while Avanos Medical has a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Haemonetics’ stock has risen 29.1% in the past year. Earnings estimates for Haemonetics have remained constant at $2.94 in 2023 and $3.29 in 2024 in the past 30 days.
HAE’s earnings beat estimates in all the last four quarters, delivering an average surprise of 10.98%. In the last reported quarter, it reported an earnings surprise of 7.59%.
Estimates for Catalyst Pharmaceuticals’ 2023 earnings have increased from $1.17 to $1.42 in the past 30 days. Shares of the company have increased 102.7% in the past year.
CPRX’s earnings beat estimates in three quarters while beating the same in one, the average surprise being 3.35%. In the last reported quarter, Catalyst Pharmaceuticals delivered an earnings surprise of 4.76%
Estimates for Avanos Medical’s 2023 earnings have remained constant at $1.68 in the past 30 days. Shares of the company have declined 14.3% in the past year compared with the industry’s fall of 18.2%.
AVNS’ earnings beat estimates in all the trailing four quarters, the average surprise being 11.01%. In the last reported quarter, Avanos Medical delivered an earnings surprise of 25%.