StemCells Inc (NASDAQ:STEM) Net Loss Increases Significantly


Dallas, Texas 03/20/2014 (FINANCIALSTRENDS) –  StemCells Inc (NASDAQ:STEM) has reported a net loss of 6,962k or $(0.13) per share, compared with a net loss of $2,759k, or $(0.07) per share during the previous year. However, the total revenue during the 4Q2013 reportedly increased by 48% at $312k when compared to $211k in the same period of 2012.  The total operating expenses during 4Q2013 was $697k, compared to $6,949,000 in the same period of 2012.

For the full year 2013, the company reported a net loss of $26,439k, or $(0.61) per share, compared with a net loss of $28,491k, or $(0.99) per share, during previous year 2012. The company’s total revenue witnessed a dip by 12% at $1,203k compared to previous year. Its total operating expenses increased by 25% at $29,492k compared to $23,650k in 2012.For the full year 2013, the cash used in operations, excluding capital purchases of about $4.7 million was reported at $23,322k, compared to $19,869k in 2012, which excludes capital purchases of approximately $73 thousand. The company also reported that the cash and its equivalents significantly increased by 37% totaling $30,585k when compared to previous year 2012.

StemCells Inc (NASDAQ:STEM) Enrolls Patient cohorts for Dry Age-Related Macular Degeneration Trial

The company last month reported that it has finished enrolling first of the actual two planned patient cohorts in the Company’s clinical tests related to its proprietary HuCNS-SC product candidate (purified human neural stem cells) for dry age-related macular degeneration . This cohort with eight subjects, four of them received 200,000 cells each and four received 1,000,000 cells each. According to the vice president, CNS Clinical Research the company will eventually expand the trail sites from 2 to 5. The company is planned to share the first follow up data on the first cohort later on this year.

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