B. Riley FBR analyst Marc Wiesenberger resumed coverage of BioLife Solutions with a Buy rating and $27 price target, stating that as cell and gene therapies gain approval he sees BioLife's revenues as likely to scale "commensurately" given that its unique preservation technology is being used extensively in the associated clinical trials. The FDA expects to be approving 10-20 cell and gene therapy drugs every year by 2025, noted Wiesenberger, who sees BioLife taking increased wallet share from its "sticky" customer base.

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.