{"id":380311,"date":"2020-11-12T16:09:13","date_gmt":"2020-11-12T21:09:13","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=380311"},"modified":"2020-11-12T16:09:13","modified_gmt":"2020-11-12T21:09:13","slug":"thermogenesis-holdings-announces-financial-results-for-the-third-quarter-ended-september-30-2020-and-provides-corporate-update","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/thermogenesis-holdings-announces-financial-results-for-the-third-quarter-ended-september-30-2020-and-provides-corporate-update\/","title":{"rendered":"ThermoGenesis Holdings Announces Financial Results for the Third Quarter Ended September 30, 2020 and Provides Corporate Update"},"content":{"rendered":"
\n

Conference Call to be Held Today at 1:30 p.m. PT\/4:30 p.m. ET<\/h2>\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n RANCHO CORDOVA, Calif.<\/span>, Nov. 12, 2020<\/span> \/PRNewswire\/ —\u00a0ThermoGenesis Holdings, Inc. (Nasdaq: THMO), a market leader in automated cell processing tools and services in the cell and gene therapy field, today announced financial and operating results for the third quarter ended September 30, 2020<\/span> and provided a corporate update.<\/p>\n

\n Financial Results for the Quarter Ended September 30, 2020<\/span><\/b>\n <\/p>\n

\n Net Revenues.<\/b>\u00a0Consolidated net revenues for the three months ended September 30, 2020<\/span> were $2.4 million<\/span> compared to $4.1 million<\/span> for the three months ended September 30, 2019<\/span>, a decrease of $1.7 million<\/span> or 42%. The decrease was driven by lower AXP\u00ae disposable and CAR-TXpress\u2122<\/sup> sales. \u00a0The COVID-19 pandemic appears to be the main driver of the decline as fewer cord blood units are being stored globally during the pandemic. The Company expects sales to increase after the pandemic is over. <\/p>\n

\n Gross Profit.<\/b>\u00a0The Company’s gross profit was $1.5 million<\/span> or 64% of net revenues for the three months ended September 30, 2020<\/span>, compared to $1.9 million<\/span> or 47% of net revenues for the quarter ended September 30, 2019<\/span>, a decrease of $0.4 million<\/span>. The decrease was driven by the decline in AXP disposable and CAR-TXpress sales, partially offset by a refund of approximately $0.8 million<\/span> from ImmuneCyte for its mark-up on sales of the testing kits which were previously reserved by the Company.<\/p>\n

\n Sales and Marketing Expenses.<\/b>\u00a0Consolidated sales and marketing expenses were $539,000<\/span> for the three months ended September 30, 2020<\/span>, as compared to $502,000<\/span> for the three months ended September 30, 2019<\/span>, an increase of 7%. The increase was driven by accrued expenses related to the Company’s employee short-term incentive program and for consulting expenses. These increases were partially offset by lower stock compensation expense in the quarter ended September 30, 2020<\/span>.<\/p>\n

\n Research and Development Expenses.<\/b>\u00a0Consolidated research and development expenses were $750,000<\/span> for the three months ended September 30, 2020<\/span>, compared to $584,000<\/span> for the three months ended September 30, 2019<\/span>, an increase of $166,000<\/span> or 28%. The increase was driven by development expenses for the Company’s COVID-19 cartridge reader.<\/p>\n

\n General and Administrative Expenses.<\/b>\u00a0Consolidated general and administrative expenses for the three months ended September 30, 2020<\/span> were $1.3 million<\/span>, compared to $1.1 million<\/span> for the three months ended September 30, 2019<\/span>, an increase of $0.2 million<\/span> or 15%. The primary driver of the increase was accrued expenses related to the Company’s employee short-term incentive program and severance expense.<\/p>\n

\n Interest Expense.<\/b>\u00a0Interest expense for the three months ended September 30, 2020<\/span> was $1.5 million<\/span>, compared to $1.2 million<\/span> for the three months ended September 30, 2019<\/span>, an increase of $0.3 million<\/span>. The increase was driven by additional interest expense and amortization of the debt discount related to the Revolving Credit Agreement with Boyalife Asset Holding II, Inc.<\/p>\n

\n Net Loss.<\/b>\u00a0For the quarter ended September 30, 2020<\/span>, the Company reported a comprehensive loss attributable to common stockholders of $2.5 million<\/span>, or $(0.37)<\/span> per share, based on 6,711,664 weighted average basic and diluted common shares outstanding. This compares to a comprehensive net loss of $2.3 million<\/span>, or $(0.78)<\/span> per share, based on 2,913,198 weighted average basic and diluted common shares outstanding for the quarter ended September 30, 2019<\/span>.<\/p>\n

\n Adjusted EBITDA.<\/b>\u00a0In addition to the results reported under U.S. GAAP, the Company also uses a non-GAAP measure, adjusted EBITDA, to evaluate operating performance and to facilitate the comparison of its historical results and trends. The Company uses the metric to determine operational cash flow. Adjusted EBITDA for the three months ended September 30, 2020<\/span> was a loss of $672,000<\/span>, compared to income of $125,000<\/span> for the three months ended September 30, 2019<\/span>, a decrease of $797,000<\/span>. The adjusted EBITDA decrease was driven by a reduction in gross profit as the result of lower sales, inventory reserves, accrued expenses related to the Company’s employee short-term incentive program, increased research and development expenses and severance expense. These decreases were partially offset by an $0.8 million<\/span> refund received from ImmuneCyte for its mark-up portion of the testing kits previously reserved by the Company. A reconciliation of adjusted EBITDA to net loss is set forth below. <\/p>\n

\n Liquidity and Capital Resources.<\/b>\u00a0At September 30, 2020<\/span>, the Company had cash and cash equivalents totaling $4.4 million<\/span>, compared with $3.2 million<\/span> at December 31, 2019<\/span>. Working capital improved to $7.1 million<\/span> at September 30, 2020<\/span> as compared to $3.2 million<\/span> at December 31, 2019<\/span>.<\/p>\n

\n Conference Call and Webcast Information
<\/b>ThermoGenesis will host a conference call today at 1:30 p.m. PT<\/span>\/4:30 p.m. ET<\/span>. To participate in the conference call, please dial 1-844-889-4331 (domestic), 1-412-380-7406 (international) or 1-866-605-3852 (Canada<\/span>). To access a live webcast of the call, please visit: https:\/\/thermogenesis.com\/investors\/news-and-events\/events-webcasts<\/a>. <\/p>\n

A webcast replay will also be available on ThermoGenesis’ website for three months, please visit: https:\/\/thermogenesis.com\/investors\/news-and-events\/events-webcasts<\/a>. <\/p>\n

\n About ThermoGenesis Holdings, Inc.
<\/b>ThermoGenesis Holdings, Inc. develops, commercializes, and markets a range of automated technologies for CAR-T and other cell-based therapies. The Company currently markets a full suite of solutions for automated clinical biobanking, point-of-care applications, and automation for immuno-oncology, including its semi-automated, functionally-closed CAR-TXpress\u2122\u00a0platform, which streamlines the manufacturing process for the emerging CAR-T immunotherapy market. For more information about ThermoGenesis, please visit:\u00a0www.thermogenesis.com<\/a>.<\/p>\n

\n Forward-Looking Statements
<\/b>This press release contains “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995.\u00a0 The forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements contained herein.\u00a0 When used in this press release, the words “anticipate,” “believe,” “estimate,” “expect” and similar expressions as they relate to the Company or its management are intended to identify such forward-looking statements.\u00a0 Actual results, performance or achievements could differ materially from the results expressed in or implied by these forward-looking statements. Readers should be aware of important factors that, in some cases, have affected, and in the future could affect, actual results to differ materially from those expressed in any forward-looking statements made by or on behalf of the Company.\u00a0 These factors include without limitation, the ability to obtain capital and other financing in the amounts and at the times needed to launch new products, market acceptance of new products, the nature and timing of regulatory approvals for both new products and existing products for which the Company proposes new claims, realization of forecasted revenues, expenses and income, initiatives by competitors, price pressures, failure to meet FDA regulated requirements governing the Company’s products and operations (including the potential for product recalls associated with such regulations), risks associated with initiating manufacturing for new products, failure to meet Foreign Corrupt Practice Act regulations, legal proceedings, uncertainty associated with the COVID-19 pandemic, and other risk factors listed from time to time in our reports with the Securities and Exchange Commission (“SEC”), including, in particular, those set forth in ThermoGenesis Holdings’ Form 10-K for the year ended December 31<\/span>, 2019.\u00a0 <\/p>\n

\n Company Contact:<\/b>
\n
\n
\n <\/b>
\n Wendy Samford<\/span>
\n
916-858-5191
ir@thermogenesis.com<\/a><\/p>\n

\n Investor Contact:<\/b>
\n
\n
\n <\/b>Paula Schwartz,\u00a0Rx Communications
917-322-2216
pschwartz@rxir.com<\/a><\/p>\n

\n Financials<\/b>\n <\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n \n <\/td>\n\n

\n
\n ThermoGenesis Holdings, Inc.
<\/b>
\n Condensed Consolidated Balance Sheets
<\/b>
\n (Unaudited)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n September 30, <\/span>\n <\/p>\n

\n 2020<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n December 31, <\/span>\n <\/p>\n

\n 2019<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n ASSETS<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n Current assets:<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n \u00a0\u00a0 Cash and cash equivalents<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $4,436,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $3,157,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n \u00a0\u00a0 Restricted cash<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n —<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,000,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n \u00a0\u00a0 Accounts receivable, net<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,698,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,278,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n \u00a0\u00a0 Inventories, net<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 5,876,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3,824,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n \u00a0\u00a0 Prepaid expenses and other current\u00a0assets<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 766,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 602,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Total current assets<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 12,776,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 9,861,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n Equipment and leasehold improvements, net<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,537,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,028,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n Right-of-use operating lease assets, net<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 765,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 859,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n Goodwill<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 781,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 781,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n Intangible assets, net<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,382,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,467,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n Other assets<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 48,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 218,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Total assets<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $17,289,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $15,214,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n LIABILITIES AND EQUITY<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n Current liabilities:<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n \u00a0\u00a0 Accounts payable<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $1,661,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $1,447,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n \u00a0\u00a0 Other current liabilities<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 4,059,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 5,238,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Total current liabilities<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 5,720,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 6,685,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n Long-term liabilities<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 8,267,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 7,613,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n ThermoGenesis Holdings, Inc. stockholders’ equity<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3,132,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 386,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n Noncontrolling interests<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 170,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 530,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Total liabilities and equity<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $17,289,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $15,214,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n ThermoGenesis Holdings, Inc.
<\/b>
\n Condensed Consolidated Statements of Operations
<\/b>
\n (Unaudited)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n Three Months Ended
September 30,<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Nine Months Ended<\/span>\n <\/p>\n

\n September 30,<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n 2020<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2019<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2020<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2019<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Net revenues<\/span>\n <\/p>\n<\/td>\n

\n

\n $2,355,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $4,058,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $7,797,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $11,325,000<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Cost of revenues<\/span>\n <\/p>\n<\/td>\n

\n

\n 844,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,163,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 7,426,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 6,220,000<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n \u00a0\u00a0\u00a0 Gross profit<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,511,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,895,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 371,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 5,105,000<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Expenses:<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n \u00a0\u00a0 Sales and marketing<\/span>\n <\/p>\n<\/td>\n

\n

\n 539,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 502,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,424,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,227,000<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0 Research and development<\/span>\n <\/p>\n<\/td>\n

\n

\n 750,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 584,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,937,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,758,000<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0 General and administrative<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,305,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,139,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 4,489,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3,617,000<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Total operating expenses<\/span>\n <\/p>\n<\/td>\n

\n

\n 2,594,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,225,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 7,850,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 6,602,000<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Loss from operations<\/span>\n <\/p>\n<\/td>\n

\n

\n (1,083,000)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (330,000)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (7,479,000)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (1,497,000)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Interest expense<\/span>\n <\/p>\n<\/td>\n

\n

\n (1,531,000)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (1,188,000)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (6,377,000)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (3,531,000)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Loss on equity method investments<\/span>\n <\/p>\n<\/td>\n

\n

\n —<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n —<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (13,000)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n —<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Loss on extinguishment of debt<\/span>\n <\/p>\n<\/td>\n

\n

\n —<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (840,000)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n —<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (840,000)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Other income (expenses)<\/span>\n <\/p>\n<\/td>\n

\n

\n 5,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (15,000)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 7,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (27,000)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Total other expenses<\/span>\n <\/p>\n<\/td>\n

\n

\n (1,526,000)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (2,043,000)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (6,383,000)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (4,398,000)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Net loss <\/span>\n <\/p>\n<\/td>\n

\n

\n (2,609,000)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (2,373,000)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (13,862,000)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (5,895,000)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Loss attributable to noncontrolling interests<\/span>\n <\/p>\n<\/td>\n

\n

\n (146,000)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (91,000)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (360,000)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (445,000)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net loss attributable to common stockholders<\/span>\n <\/p>\n<\/td>\n

\n

\n $(2,463,000)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $(2,282,000)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $(13,502,000)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $(5,450,000)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n ThermoGenesis Holdings, Inc.
<\/b>
\n Condensed Consolidated Statements of Cash Flows
<\/b>
\n (Unaudited)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n Nine Months Ended<\/span>\n <\/p>\n

\n September 30,<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n 2020<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2019<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Cash flows from operating activities:<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n \u00a0Net cash used in operating activities<\/span>\n <\/p>\n<\/td>\n

\n

\n $(11,859,000)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $(3,518,000)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Cash flows from investing activities:<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n \u00a0Capital expenditures<\/span>\n <\/p>\n<\/td>\n

\n

\n (23,000)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (178,000)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Net cash used in investing activities<\/span>\n <\/p>\n<\/td>\n

\n

\n (23,000)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (178,000)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Cash flows from financing activities:<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n \u00a0\u00a0\u00a0\u00a0 Proceeds from convertible promissory note-related party<\/span>\n <\/p>\n<\/td>\n

\n

\n 4,287,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,513,000<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Payments on financing lease obligations<\/span>\n <\/p>\n<\/td>\n

\n

\n (32,000)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (15,000)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Proceeds from issuance of common stock, net of expenses<\/span>\n <\/p>\n<\/td>\n

\n

\n 5,580,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 756,000<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Proceeds from exercise of options, warrants and pre-funded warrants<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,683,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 42,000<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Proceeds from long-term debt<\/span>\n <\/p>\n<\/td>\n

\n

\n —<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,800,000<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0 Proceeds from note payable<\/span>\n <\/p>\n<\/td>\n

\n

\n 646,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n —<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n \u00a0Net cash provided by financing activities<\/span>\n <\/p>\n<\/td>\n

\n

\n 12,164,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 4,096,000<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Effects of exchange rate changes on cash and cash equivalents<\/span>\n <\/p>\n<\/td>\n

\n

\n (3,000)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n —<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net increase (decrease) in cash, cash equivalents and restricted cash<\/span>\n <\/p>\n<\/td>\n

\n

\n 279,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 400,000<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Cash, cash equivalents and restricted cash at beginning of period<\/span>\n <\/p>\n<\/td>\n

\n

\n 4,157,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3,400,000<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Cash, cash equivalents and restricted cash at end of period<\/span>\n <\/p>\n<\/td>\n

\n

\n $4,436,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $3,800,000<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n ThermoGenesis Holdings, Inc.
<\/b>
\n Reconciliation of Adjusted EBITDA to Net Income (Loss)
<\/b>
\n (Unaudited)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n Three Months Ended
<\/span>
\n September 30,<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n Nine Months Ended
<\/span>
\n September 30,<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n 2020<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2019<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2020<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2019<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net loss<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $(2,609,000)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $(2,373,000)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $(13,862,000)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $(5,895,000)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Deduct:<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n \u00a0\u00a0\u00a0 Interest expense<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (1,531,000)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (1,188,000)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (6,377,000)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (3,531,000)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0 Fair value change of derivative \u00a0\u00a0instruments and other<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 5,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (15,000)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 7,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (27,000)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0 Loss on extinguishment of debt<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n —<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (840,000)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n —<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (840,000)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0 Loss on equity method investments<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n —<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n —<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (13,000)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n —<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Loss from operations<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $(1,083,000)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $(330,000)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $(7,479,000)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $(1,497,000)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Add:<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n \u00a0\u00a0 Depreciation and amortization<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 177,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 202,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 569,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 604,000<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0 Stock-based compensation expense<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 234,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 253,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 615,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 459,000<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Adjusted EBITDA<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $(672,000)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $125,000<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $(6,295,000)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $(434,000)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

The Company defines adjusted EBITDA as income (or loss) from operations less, depreciation, amortization, stock compensation and impairment of intangible assets.<\/p>\n

\n \"Cision\" View original content:http:\/\/www.prnewswire.com\/news-releases\/thermogenesis-holdings-announces-financial-results-for-the-third-quarter-ended-september-30-2020-and-provides-corporate-update-301172327.html<\/a><\/p>\n

SOURCE ThermoGenesis Holdings, Inc.<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

Conference Call to be Held Today at 1:30 p.m. PT\/4:30 p.m. ET PR Newswire RANCHO CORDOVA, Calif., Nov. 12, 2020 \/PRNewswire\/ —\u00a0ThermoGenesis Holdings, Inc. (Nasdaq: THMO), a market leader in automated cell processing tools and services in the cell and gene therapy field, today announced financial and operating results for the third quarter ended September 30, 2020 and provided a corporate update. Financial Results for the Quarter Ended September 30, 2020 Net Revenues.\u00a0Consolidated net revenues for the three months ended September 30, 2020 were $2.4 million compared to $4.1 million for the three months ended September 30, 2019, a decrease of $1.7 million or 42%. The decrease was driven by lower AXP\u00ae disposable and CAR-TXpress\u2122 sales. \u00a0The COVID-19 pandemic appears … <\/p>\n

Continue reading “ThermoGenesis Holdings Announces Financial Results for the Third Quarter Ended September 30, 2020 and Provides Corporate Update”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-380311","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nThermoGenesis Holdings Announces Financial Results for the Third Quarter Ended September 30, 2020 and Provides Corporate Update - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/thermogenesis-holdings-announces-financial-results-for-the-third-quarter-ended-september-30-2020-and-provides-corporate-update\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ThermoGenesis Holdings Announces Financial Results for the Third Quarter Ended September 30, 2020 and Provides Corporate Update - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Conference Call to be Held Today at 1:30 p.m. PT\/4:30 p.m. ET PR Newswire RANCHO CORDOVA, Calif., Nov. 12, 2020 \/PRNewswire\/ —\u00a0ThermoGenesis Holdings, Inc. (Nasdaq: THMO), a market leader in automated cell processing tools and services in the cell and gene therapy field, today announced financial and operating results for the third quarter ended September 30, 2020 and provided a corporate update. Financial Results for the Quarter Ended September 30, 2020 Net Revenues.\u00a0Consolidated net revenues for the three months ended September 30, 2020 were $2.4 million compared to $4.1 million for the three months ended September 30, 2019, a decrease of $1.7 million or 42%. 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