LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of Cryoport, Inc. (“Cryoport” or the “Company”) (NASDAQ: CYRX) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On July 12, 2023, after market hours, Cryoport announced preliminary second-quarter financial results, and disclosed that its second quarter 2023 total revenue “is expected to be in the range of $56.5 to $57.5 million, representing a decrease of 11%, at the midpoint, compared to the second quarter of 2022.” The Company attributed the shortfall to “a global slowdown in capital equipment investment” as well as “a number of clinical trial start delays and several key customers falling short of their forecasts for the revenue ramp of certain cell and gene therapies.”
On this news, Cryoport’s stock price fell as much as 28% during intraday trading on July 13, 2023, thereby injuring investors.
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If you purchased Cryoport securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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