Shares of Rapid Micro Biosystems Inc. (RPID) touched a new 52-week high of $1.18 last week, following encouraging third-quarter financial results.
This life sciences technology company manufactures and sells the "Growth Direct system" and related proprietary consumables, and value-added services to enable rapid microbial quality control, or MQC, testing in the manufacture of biologics and cell and gene therapies, vaccines, sterile injectables, and other healthcare products. MQC is the principal method by which pharmaceutical manufacturers ensure the ongoing sterility of their facilities and finished products by detecting and stopping contamination from outside microorganisms, such as bacteria, mold, and other foreign substances. Most of Rapid Micro's customers are large global pharmaceutical manufacturers and CDMOs (contract development and manufacturing organizations).
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