On April 8, the company offered a refund of annual fees received from the start of its “temperature excursions”, as well as a waiver of subsequent fees for all active clients of Cordlife who have stored cord blood units in one of the cryogenic storage tanks and dry shipper deemed by to be at high risk of being adversely affected by the temperature excursions.
Cordlife has posted net loss of $11.57 million for its 1QFY2024 ended March, compared to a net profit of $1.15 million in the same preceding quarter.
In its Nov 30 filing last year, Cordlife revealed that seven of its cryogenic storage tanks based in Singapore have been exposed to temperatures outside of their normal temperature range from November 2020 to date.
