Scorpius Holdings releases letter to shareholders from CEO

Scorpius Holdings released a letter to shareholders from its CEO Jeff Wolf: “We are excited to share an update on Scorpius as we continue to position the company to take a lead role in catering to the rapidly growing biologic and cell therapy markets. Over the past several years, we have made significant investments designed to establish Scorpius as a leading biologic manufacturing CDMO. Notably, we have expanded our mammalian and microbial production capability to enable us to offer a broad range of biologic manufacturing services to our customers. Our robust investments and ongoing efforts have already resulted in a threefold increase in revenue for the first half of 2024. Our current sales pipeline now includes more than $100 million in weighted opportunities across the biopharmaceutical and government sectors… We believe that Scorpius is now exceptionally well-positioned to service new and existing clients, expand its service offering and achieve positive cash flow in the near future. Given these overarching goals, we are taking steps to align senior executive compensation with our growth objectives, contingent on meeting sales targets and booking goals. ”