On Monday, Stellar
Biotechnologies, Inc. (NASDAQ: SBOT) (TSX-V: KLH), the leader in the
sustainable manufacture of Keyhole Limpet Hemocyanin (KLH), announced its
financial results for its first fiscal quarter ended December 31, 2015.
According to the report, the company successfully leveraged the increased
visibility and improved access to institutional investors provided by its
recent uplisting to the NASDAQ Capital Market (completed on November 5, 2015)
to drive a 130 percent year-over-year increase in quarterly revenue.
“We are pleased to report good
momentum heading into 2016, with what we believe are positive indicators for
our core KLH business,” Frank Oakes, president, chief executive officer and
chairman of Stellar, stated in the news release. “We are focusing on continuing
to increase sales revenue, and we are working to expand our commercial and
clinical opportunities with new collaborations.”
One such collaboration was
proposed on January 20, 2016, in the form of a joint venture between Stellar
and Neovacs, S.A, a leading biotechnology firm focused on an active
immunotherapy technology platform (Kinoids) with applications in autoimmune
and/or inflammatory diseases. The purpose of this proposed joint venture is to
produce Neovacs’ Kinoid product candidates using Stellar’s KLH. The term sheet
also outlined the possibility of manufacturing other KLH-based immunotherapies
on behalf of third party customers in the future. As of writing, this proposed
joint venture has yet to be consummated.
Additional highlights from
Stellar’s financial report include:
The company generated total
revenues of $488,160 for the three months ended December 31, 2015, compared to
$212,661 for the three months ended December 31, 2014
Total expenses for the quarter
were $1.8 million, compared to $1.5 million for the same period in 2014; the
company attributed this increase to a combination of NASDAQ listing fees,
compensation increases, increased share-based compensation and increased
investor relations activity
Stellar’s working capital as of
December 31, 2015, was $8.97 million, compared to working capital of $7.49
million as of September 30, 2015
The company maintained positive
shareholders’ equity of $9.6 million and approximately 8.45 million shares
outstanding as of December 31, 2015, compared to shareholders’ equity of $8.0
million and approximately 7.98 million shares outstanding at September 30, 2015
To view the full financial report,
visit http://dtn.fm/t8W36
Stellar has applied decades of
specialized aquaculture science to a pharmaceutical industry challenge,
creating the only KLH production facility of its kind in the world and
establishing itself as the world leader in the sustainable manufacture of this
important immune-stimulating molecule. The company’s customers and partners
include multinational pharmaceutical companies, renowned research centers, and
developers of active immunotherapies and therapeutic vaccines.
For more information, visit
www.StellarBiotech.com and http://ir.StellarBiotechnologies.com
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