Oppenheimer analyst Suraj Kalia initiated coverage of BioLife Solutions with an Outperform rating and $22 price target. The analyst sees the stock as a "unique derivative play" on the regenerative medicine space, with its proprietary cryopreservation media for cell therapies and biologistics for cell transport having gone through the "continuum of development to commercialization." A diversified revenue Kalia expects the company's client base of 2K-3K allowing BioLife Solutions to grow at an annual compound rate of 30%-35% over the next few years, positioning it "in the first innings of a long-term secular growth cycle."

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.