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Cryoport's board approves $15M stock buyback program

Cryoport Inc. said its board approved a $15 million stock repurchase program.

The program allows the Irvine, Calif.-based company, which provides temperature-controlled logistics solutions to life science companies, to buy back up to $15 million of its outstanding common stock through Dec. 31, 2020.

The repurchase program is subject to the market price of Cryoport's common stock, general market and economic conditions and relevant legal requirements, among other things.

Cryoport does not expect to incur debt to fund the share repurchase program.