Q2/10 Results, Osiris Therapeutics (OSIR)
Net income was $1.7 M and $0.05 per diluted common share. Revenues were $10.3 M consisting primarily of the amortization of license fees from collaboration agreements. R&D expenses were $6.5 M. G&A expenses were $1.6 M. Net cash used in continuing operations was $5.6 M. Cash, short-term investments and receivables were $84.4 M at 6/30/10.
Q2/10 Highlights
- Prochymal New Drug Submission (NDS) accepted for review for full marketing approval by the Biologics and Genetic Therapies Directorate of Health Canada for graft vs. host disease (GvHD).
- Granted Priority Review for Prochymal by Health Canada reducing the NDS evaluation period for approval from 300 to 180 days;
- Notified by Health Canada that upon approval, Prochymal will be added to its Register of Innovative Drugs, which confers eight years of market exclusivity;
- Announced the positive interim analysis of the first 207 patients in a clinical trial evaluating Prochymal for treatment-resistant Crohn’s disease;
- Granted Orphan Drug designation from the FDA for Prochymal as a treatment for type 1 diabetes.
Categories: Quarterly Earnings, Stem Cell Technology
