H.C. Wainwright analyst Raghuram Selvaraju started BioLife Solutions with a Buy rating and $23 price target. BioLife represents an "intriguing way" to invest in the long-term growth of the cell and gene therapy market, contends the analyst. He says the company is a key provider of cell preservation and storage media as well as cell thawing-related products and cloud-based cold chain management systems.

BioLife Solutions has completed the divestiture of its wholly owned subsidiary Global Cooling, or Stirling. The sale is expected to immediately eliminate several million dollars of quarterly cash burn and removes product warranty liabilities, which totaled $7.5M as of December 31, 2023. BioLive anticipates that this transaction will result in higher growth rates in total revenue and adjusted EBITDA, as well as gross margin expansion. The transaction, structured as a stock sale, required $7M in cash to remain on the balance sheet of GCI and the repayment of $2.6M in GCI long-term debt.