Cesca Therapeutics Inc. (NASDAQ:KOOL) Q2 2019 Earnings Conference Call - Final Transcript
Aug 13, 2019 • 04:30 pm ET
revenues from our device division. A number of key achievements were matched during the quarter in pursuant of our goals. Revenue were increased 115% over the same period a year ago. Adjusted EBITDA, a metric that company used to approximate operational cash flow, were positive for the second quarter of 2019, which is the first time over more than 10 years.
Contributing to the increase in revenue are the new products that we have launched in the last 12 months. They include CAR-TXpress and related X series products for large scale manufacturing of CAR-T therapies, AutoXpress 2 or AXP 2, which is the second generation of best-setting AXP platform for stem-cell banking, and third, POCXpress or the PXP for rapid processing of autologous bone marrow derived stem cell at the point of care, including surgical centers or clinics. And [Technical Difficulty], it has been over a decade since the company had introduced any new product. The products I have just listed are already making a mark on our revenue stream, and we'll continue to do so.
I will take a few minutes at this point to recap some of our recent operational highlights, after which I will turn the call over to Jeff for an overview of the financials. Most recently, post quarter end, we announced Cord Blood Registry or CBR, which is the largest cord blood banks in the United States, has begun to transition to the use of our next generation AXP-2 system for cord blood processing. Our relationship with CBR is a strong one and goes back 13 years for cord blood processing. Our relationship with CBR is a strong one and goes -- started back in 2006, when we execute an exclusive manufacturer and the supply agreement, enables their use of our original AXP system in related disposables. We are proud to continue to support the largest cord blood bank in the US with our newest technology and yet goes without saying that CBRs upgrade to AXP-2 is a further endorsement of the quality of our technology and systems.
In late June, we also entered into a strategic agreement with Singapore based Core Life Group, which is the leading provider for cord blood banking service in all of Asia, to implement the AXP-2 system in the Indian processing facility. In addition, we continue to supply our AXP technology to China Cord Blood Corporation, the largest cord blood bank in China. This entity is a very prominent client our AXP platform has maintained its market leadership position in the cord blood banking industry worldwide.
In the second quarter, we also received additional approval for the AXP-2 system in Thailand and Canada, allowing us to further expand our product and service territories. For our point-of-care cellular processing product line, or our PXP system, it is the market leading product. The PXP allows the rapid isolation of a highly purified stem cell concentrate from bone marrow for reading into medicine applications. In the second quarter, we announced the registration