Q2/10 Results, NeoStem (Amex:NBS)
Net loss to shareholders was $5.42 M and $0.11 per diluted loss per share.
Q/2/10 revenues were $19.4 M, up 23%, but the cost of revenues were $13 M with a gross profit of $6.5 M (higher than Q1/10) with weighted average of common outstanding of 48.8 M.
Net cash used in operating activities for Q2/10 was $842,000. During the first half of 2010, NBS had invested $8.6 M in capital expenditures related to continued expansion into China. For Q2/10, G&A expenses were $7.9 M with R&D coming in at $2.1 M. NBS had cash and cash equivalents of $11 M at 6/30/10.
Recent Milestones
- Exclusive collaboration with the Vatican’s Pontifical Council for Culture to expand adult stem cell research and raise awareness of the importance of adult stem cell research and therapies with the Pontifical Council undertaking a commitment of $1 M to seed the joint initiatives;
- $700,000 contract from the US Army Medical Research and Materiel Command, Telemedicine and Advanced Technology Research Center (USAMRMC-TATRC) to advance adult stem cell therapies in treating traumatic wounds by evaluating the use of topically applied bone marrow-derived adult mesenchymal stem cells (MSCs) for rapid wound healing and preliminary assessment of VSEL™ Technology;
- Sponsored research agreement (SRA) with the Schepens Eye Research Institute, an affiliate of Harvard Medical School to study the development of therapies for both age-related macular degeneration (AMD) and Glaucoma using NeoStem’s proprietary VSEL™ Technology.
Categories: Quarterly Earnings, Stem Cell Technology
