Eoneren/E+ via Getty Images Biotech company Scorpius Holdings ( NYSE: SCPX ) CEO Jeff Wolf said on Monday in a letter to shareholders that the company has recorded a threefold increase in revenue for the first half of 2024. Scorpius’ current sales pipeline now includes more than $100M in opportunities across the biopharmaceutical and government sectors. The company has recently completed a round of financing, raising about $14.
4M in gross proceeds, Wolf added in his letter. The funds will help Scorpius to provide better services and attract customers, enabling the biotech company to diversify its customer base with both commercial and government opportunities. The company has also started transitioning several of its key clients from process development phase into full-scale manufacturing to enable additional revenue stream.
Shares of Scorpius were down 3.33% during pre-market trading. More on Scorpius Holdings Financial information for Scorpius Holdings.