On May 7, 2024, Cryoport announced “disappointing” first quarter earnings for fiscal 2024. Jerrell Shelton, CEO of Cryoport, attributed the weak earnings to a “difficult environment globally” and “softer than anticipated” revenue growth in the company’s Life Sciences Services segment. On this news, Cryoport’s stock price fell $3.20 per share or nearly 20% in the span of just a day.