would like to highlight International Stem Cell Corporation
), researching the therapeutic applications of human parthenogenetic stem cells (hpSCs) and the development and commercialization of cell-based research and cosmetic products. ISCO's core technology, parthenogenesis, results in the creation of pluripotent human stem cells from unfertilized oocytes (eggs). The company is focused on using these stem cells to treat diseases of the eye, the nervous system, and the liver, where cell therapy has been proven clinically yet is limited by the availability of safe immune-matched human cells or tissue.
In the company’s news,
International Stem Cell Corp., a California-based biotech company developing novel stem cell-based therapies and biomedical products, issued a business update and posted its financial results for the first quarter of 2015.
Business updates for the first quarter of the year include:
• Completed the required preclinical studies and submitted a clinical trial exemption application to the Australian Therapeutics Goods Administration (TGA) to begin the phase 1/2a clinical study of the company’s cell therapy for the treatment of Parkinson’s disease. To be administered through the company’s wholly owned Australian subsidiary, Cyto Therapeutics Pty Ltd.
• Completed the manufacture of the bank of clinical-grade human neural stem cells for use in the Parkinson’s disease clinical trial. The cell bank contains more than 2.6 billion human cells, sufficient to meet the company’s foreseeable clinical trial requirements.
• Japan Patent Office granted International Stem Cell’s patent covering methods of making a bank of human stem cells from parthenogenetically activated eggs significantly strengthening and expanding the company’s intellectual property to now include Japan as well as the United States and the European Union.
“In the first quarter of 2015 we completed all the necessary preclinical studies of our Parkinson’s program and formally submitted our application to begin the first clinical study of this novel approach to treating this debilitating disease in humans,” Andrey Semechkin, Ph.D., CEO and Co-chairman of International Stem Cell, stated in the news release. “We continue to expect to make significant progress during the rest of 2015 towards our goal of providing a viable treatment options for people with Parkinson’s disease.”
On the financial side, International Stem Cell achieved first-quarter revenue of $1.62 million; Lifeline Skin Care increased 5% while Lifeline Cell Technology sales decreased by 8%. Operating income from cosmeceutical and biomedical markets grew 76% compared with the first quarter of 2014. Gross margin improved to 74%
The company narrowed its first-quarter 2015 net loss to $1.29 million compared to a net loss of $1.44 million reported in the year ago quarter. International Stem Cell ended the first quarter of 2015 with cash of $0.61 million.
QualityStocks, based in Scottsdale, Arizona, is a free service that collects data from hundreds of Small-Cap and Micro-Cap online Investment Newsletters into one Daily Newsletter Report. QualityStocks is dedicated to assisting emerging public companies with their investor communication efforts and connecting subscribers with companies that have huge potential to succeed in the short and long-term future.
To sign up for The QualityStocks Daily Newsletter, please visit www.QualityStocks.net
To connect with QualityStocks via Facebook, please visit http://Facebook.com/QualityStocksPage
To connect with QualityStocks via Twitter, please visit http://Twitter.com/QualityStocks
Please read FULL disclaimer on the QualityStocks website: http://Disclaimer.QualityStocks.net
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.