Tuesday, May 13, 2014

International Stem Cell Corp. (ISCO) Slated to Discuss Q1 Earnings – Revenues Up 28%

International Stem Cell Corp., a California-based biotechnology company developing novel stem cell based therapies and biomedical products today provided a business update and announced financial results and for Q1 2014.

“Obtaining clarity from the FDA on our Parkinson’s disease program allows us to substantially lower the risk of unforeseen regulatory issues which could delay the program. By building the FDA’s feedback into our plans, we will be able to prepare a stronger IND submission with an increased chance of a positive review,” said Dr. Andrey Semechkin, the Company’s CEO and Co-Chairman.

“On the commercial side, on a year over year basis, top-line revenues have grown for seven consecutive quarters, confirming that our subsidiaries are executing on their business plans and are on the right track. Looking forward to the rest of 2014, we see no reason why this growth should not continue; although we expect our cash burn to increase compared with last year as we push to complete our pre-clinical work and IND submission,” concluded Dr. Semechkin.

Three Q1 2014 highlights included the holding of a pre-IND meeting with the U.S. Food and Drug Administration (FDA) clarifying the path to IND approval for ISCO’s novel neural stem cell treatment for Parkinson’s Disease (PD), the announcement of three months of positive data from the ongoing IND-enabling pharmacology/toxicology primate study demonstrating that a majority of the animals exhibit significant improvement in parkinsonism, including a return of many normal behaviors and a boost in revenues, up 28% year-over-year to $1.65 million for the three months ended March 31, 2014.

Revenue for the Q1 2014, totaled $1.65 million, compared to $1.29 million for the three months ended March 31, 2013 with LCT contributing $846,000 or 51% of total revenue for the three months ended March 31, 2014, compared to $635,000 or 49% for the three months ended March 31, 2013. LSC’s revenue of $803,000 for the three months ended March 31, 2014 accounted for 49% of total revenue, compared to $650,000 or 51% of total revenue for the three months ended March 31, 2013. Cost of sales for the same three months was $439,000 or 27% of revenue, compared to $334,000 or 26% of revenue for the three months ended March 31, 2013.

Research and development expenses were up 33% to $958,000 for the reported period in large part due to increased stem cell line research and testing expenses.

The company will be discussing their financial results for Q1 2014 in a conference call on Wednesday, May 14th at 11am EST. The company requests that participants dial in at least 10 minutes before the call to ensure timely participation. Dial in details are as follows:

Conference Number (U.S.): 1-877-941-2069
International Dial-In: 1-480-629-9713
Conference ID: 4682485
Webcast: http://public.viavid.com/confirmation/confirmwebcast.php?id=o5aroJyX

A playback of the call will be available from 05/14/14 at 5:00 pm ET until 05/28/14 at 11:59 pm ET. To listen, call 1-877-870-5176 within the United States or 1-858-384-5517 when calling internationally. Please use the replay pin number 4682485.

International Stem Cell Corporation is focused on 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). hpSCs avoid ethical issues associated with the use or destruction of viable human embryos.

For more information on the company, visit www.internationalstemcell.com

About QualityStocks

QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. We offer several ways for investors to find, evaluate, and learn more about investing in these companies.

Sign up for “The QualityStocks Daily Newsletter” at www.QualityStocks.net

The Quality Stocks Daily Blog http://blog.qualitystocks.net

The Quality Stocks Daily Videos http://videocharts.qualitystocks.net

 The Quality Stocks “Ones to Watch” http://gotstocks.qualitystocks.net


Please see disclaimer on the QualityStocks website: http://disclaimer.qualitystocks.net

No comments: