TMCnet News
Societal CDMO Highlights Growth of Existing Customer Business Through Signing of More Than $6 Million in Work Orders During Fourth Quarter of 2022Expansion in Scope of Projects Seen Across All CDMO Service Capabilities and Manufacturing Facilities; Addressing Evolving Customer Needs Through Customized Project Modifications Existing Customer Wins Supplement Continued Momentum in Growing Business through Signing of New Customers SAN DIEGO and GAINESVILLE, Ga., Feb. 01, 2023 (GLOBE NEWSWIRE) -- Societal CDMO, Inc. (“Societal CDMO”; NASD: SCTL), a contract development and manufacturing organization (CDMO) dedicated to solving complex formulation and manufacturing challenges primarily in small molecule therapeutic development, today announced that it has signed more than $6 million in work orders with existing customers during the fourth quarter of 2022. These orders involve work spanning the company’s entire range of CDMO service offerings including tech transfer, formulation, manufacturing and fill/finish, among others. Notably, the projects involved will be conducted across all three of its manufacturing facilities in Georgia and California. The signing of these work orders with existing customers represents a key component of the company’s overall growth strategy, complementing its ongoing efforts to secure project wins with new customers. “During the fourth quarter, our business development and operations teams have remained busy driving the continued growth of our CDMO business. While attention is often focused on the signing of new customers, it is important to highlight that expanding the relationships we have with existing customers is another key contributor to revenue generation,” said David Enloe, chief executive officer of Societal CDMO. “This breadth of recent program expansions and customized modifications highlights the trust that our customers have in Societal to meet their evolving contract development and manufacturing needs. Furthermore, it reinforces the significant value that is provided by both our full suite of CDMO capabilities as well as our bi-coastal presence, which are all being utilized in the execution of these work orders.” About Societal CDMO In addition to our experience in handling DEA controlled substances and developing and manufacturing modified-release dosage forms, Societal CDMO has the expertise to deliver on our clients’ pharmaceutical development and manufacturing projects, regardless of complexity level. We do all of this in our best-in-class facilities, which total 145,000 square feet, in Gainesville, Georgia and San Diego, California. Societal CDMO: Bringing Science to Society. For more information about Societal CDMO’s customer solutions, visit societalcdmo.com. Forward-Looking Statements
Contacts: Stephanie Diaz (Investors) Vida Strategic Partners 415-675-7401 [email protected] Tim Brons (Media) Vida Strategic Partners 415-675-7402 [email protected] Ryan D. Lake (CFO) Societal CDMO 770-531-8365 [email protected] |