Pluristem (PSTI), Q4/10 Results
PSTI had no Q4/10 revenues and R&D expenses were $2.16M, less participation of the OCS ($608K increased to $1.6M attributable to the increase in development activity and the progress of clinical studies. G&A expenses were $1.24M, based on an increase in stock-based compensation expenses. Cash and cash equivalents as of 12/31/10 amounted to $4.739M. The operating loss was $2.82M. Total liabilities were $1.5M.
- In 2/11PSTI raised approximately $44M in a public offering.
PSTI has negative cash flow from operations of $25.4M and have accumulated a deficit of $44.6M since inception in 5/01. PSTI estimates operating cash expenses, net of OCS participation, in the next 12 months will be approximately $8M.
- PSTI believes that current funds, together with the approved R&D grant from the OCS, will be sufficient for operating until at least the end of calendar year of 2013.