Exhibit 99.1

 

 

CESCA THERAPEUTICS ANNOUNCES FIRST QUARTER 2019 FINANCIAL RESULTS
AND PROVIDES CORPORATE UPDATE

 

Conference Call to be Held Today at 1:30 p.m. PDT/4:30 p.m. EDT

 

RANCHO CORDOVA, Calif., May 14, 2019 – Cesca Therapeutics Inc. (Nasdaq: KOOL), a market leader in automated cell processing and autologous cell therapies for regenerative medicine, today announced financial and operating results for the first quarter ended March 31, 2019 and provided a corporate update.

 

First Quarter 2019 Highlights:

 

 

Cesca entered into a reorganization of the business and equity ownership of its majority-owned ThermoGenesis Corp. subsidiary. In the reorganization, the cell-processing assets acquired by ThermoGenesis from SynGen Inc. in July 2017 were contributed to a newly formed subsidiary of ThermoGenesis named CARTXpress Bio, Inc., and a third party’s 20% interest in ThermoGenesis was exchanged for a 20% interest in CARTXpress Bio. As a result of the reorganization, Cesca has become the 100% owner of ThermoGenesis and holds, through ThermoGenesis, an 80% equity interest in CARTXpress Bio.

 

 

ThermoGenesis completed construction of a 1,000 square foot in-house clean room, significantly expanding the company’s manufacturing capacity and ability to meet demand for its X-Series® cartridges.

 

 

Expanded adoption of ThermoGenesis’ CAR-TXpress platform technology to over 20 institutional customers by the end of the quarter.

 

 

ThermoGenesis signed a supply agreement with Orthohealing Center Management, enabling Orthohealing’s network of physicians to prepare precise cell concentrates for its patients from autologous bone marrow using ThermoGenesis’s PXP® System.

 

 

ThermoGenesis received clearance for labeling by TÜV Rheinland for the X-Series Control Module and Docking Stations. This clearance signifies that the company’s CAR-TXpress platform tools have been tested and comply with international standards for electrical safety.

 

 

ThermoGenesis received Health Canada approval for the PXP® System for POC harvesting of purified mononuclear cells and platelets from blood or bone marrow, an important step in the company’s commercialization efforts.

 

 

The following information was filed by Cesca Therapeutics Inc. (KOOL) on Tuesday, May 14, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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