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Stem cell companies report quarterly financials.

Several stem cell companies reported first quarter revenue and earnings performance this month:

--Advanced Cell Technology (ACT) posted a $4.8 million loss, down from a $ 15 million loss in the same quarter last year. The company ended the 2011 first quarter with cash and cash equivalents of $13.7 million, compared to $15.9 million as of December 31, 2010.

--Osiris Therapeutics, Inc. (OSIR) reported a profit of $4 million for the quarter on revenues of $10.4 million, primarily from the amortization of license fees from collaboration agreements. The company had cash, receivables and short-term investments of $63.2 million at March 31, 2011.

--BioTime, Inc. (BTX) reported a loss of $3.4 million on revenue of $825,000, up 7 percent from the same period one year ago. Revenue included royalties from product sales and other revenue, revenue recognition of deferred license fees and grant income. The increase in revenue year-over-year is "primarily attributable to license fees earned by BioTime's Singapore subsidiary ES Cell International, Pte. Ltd., additional grant income, and a significant increase in research product sales offset by a decrease in royalties from product sales." The company had cash and cash equivalents of $30.1 million as of March 31, 2011, compared with $33.3 million as of December,2010.

--Athersys, Inc., (ATHX) posted a loss of $3.9 million for the first quarter on revenues of $3 million, up from $1.7 million in the comparable period in 2010, "primarily reflecting the impact of our development collaborations with Pfizer and RTI Biologies, Inc. The company had $25.3 million in cash, cash equivalents and available-for-sale securities at the end of March.

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Title Annotation:Company News
Publication:Stem Cell Business News
Date:May 9, 2011
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