CryoPort's Promising Future: Buy Rating Backed by Strong Financials and Growing C> MarketWe remain positive on CYRX, and we increase our PT from $10 to $15 on an improving fundamental outlook for the industry. While the stock has been under some pressure over the past ~2 years, we think likely due to worries around the Inflation Reduction Act (IRA), tariffs, Most Favored Nation (MFN), and drug pricing reform risk, we believe that the market is turning the corner. CYRX delivered a good 2Q revenue beat, with Life Science revenue +21% y/y, revenue coming from commercially approved C> products continues to rise at a rapid pace, the number of annual FDA approvals for C> products seems like it is accelerating, the number of C> products in clinical trials is increasing at a steady pace, and the easing of REMS requirements for some products is also a positive in our view.