MaxCyte Inc (NASDAQ: MXCT) said on Monday that it had reduced 15% of its workforce, which affected 21 jobs and saved nearly $5.8 million in 2025.
As a result, its staff will be brought to 116 by the end of 2024, it said.
The company also revised up its full-year 2024 core revenue forecast, expecting 6% to 8% growth. It had previously forecast a 5% core revenue growth.
Stock Performance
The shares of MaxCyte Inc (MXCT) closed 0.56% ($0.02) higher at $3.60 on Nasdaq on Friday, as they reversed a loss from the previous market session.
The company’s total market cap now stands at $379.739 million.
The shares of MaxCyte Inc (MXCT) went down 13.92% in 2023, compared with a 43.42% gain for the benchmark index, Nasdaq Composite (IXIC).
The company’s shares have retreated another 23.40% so far this year.
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