International Stem Cell Corp. (ISCO) Posts Record Financial Results in the Second Quarter of 2015
International Stem Cell Corp. is expanding its presence in the emerging field of regenerative medicine through the development of its novel stem cell-based therapies and biomedical products. In recent months, this progress has translated into record-setting financial results, as the company has continued to position itself as a major player in the biotechnology industry.
“Stable increase in revenues from our biomedical businesses, ability to generate net income as a parent company and progress in demonstrating the safety and efficacy of our stem cells for the treatment of Parkinson’s disease and stroke position us as a leader in [the] regenerative medicine field,” Dr. Andrey Semechkin, chief executive officer and co-chairman of ISCO, stated in a news release.
In the second quarter of 2015, ISCO realized a 14 percent year-over-year increase in total revenue, recording $1.82 million. This growth was primarily fueled by the performance of the company’s subsidiary, Lifeline Skin Care, which recorded an 18 percent year-over-year increase in revenue for the period. In addition to expanding upon the customer base of its existing product lines, ISCO also completed the development and testing of two new products to be sold under the trusted Lifeline Skin Care brand moving forward. Lifeline Cell Technology, ISCO’s human cell manufacturing subsidiary, posted similar financial growth for the quarter, recording an 11 percent year-over-year increase in sales.
The company’s strong financial performance through its subsidiaries helped fund its considerable progress toward the development of its proprietary human parthenogenetic neural stem cells (hpNSCs). In preclinical testing, ISCO demonstrated the capability of its cells to significantly reduce neurological dysfunction following a stroke in animal models. Following the publication of two proof of concept studies that demonstrate the safety and efficacy of the company’s stem cell treatment techniques in both non-human primate and rodent animal models, ISCO expects to begin its Parkinson’s disease trials in the Australian market before the end of this year.
“We look forward to receiving Australian TGA authorization to start clinical trials,” continued Semechkin. “We expect to dose the first Parkinson’s disease patients in this trial in Q4 2015.”
For prospective shareholders, ISCO’s ability to generate revenue and maintain a strong cash position during clinical development programs is a promising indication of the company’s long-term viability. Look for ISCO to continue leaning on the established market presence of its subsidiaries in order to fund the ongoing clinical development of its promising Parkinson’s disease treatment program while simultaneously promoting sustainable returns.
For more information, visit www.internationalstemcell.com
Please read full disclaimers at http://disclaimer.missionir.com
International Stem Cell Corp. is expanding its presence in the emerging field of regenerative medicine through the development of its novel stem cell-based therapies and biomedical products. In recent months, this progress has translated into record-setting financial results, as the company has continued to position itself as a major player in the biotechnology industry.
“Stable increase in revenues from our biomedical businesses, ability to generate net income as a parent company and progress in demonstrating the safety and efficacy of our stem cells for the treatment of Parkinson’s disease and stroke position us as a leader in [the] regenerative medicine field,” Dr. Andrey Semechkin, chief executive officer and co-chairman of ISCO, stated in a news release.
In the second quarter of 2015, ISCO realized a 14 percent year-over-year increase in total revenue, recording $1.82 million. This growth was primarily fueled by the performance of the company’s subsidiary, Lifeline Skin Care, which recorded an 18 percent year-over-year increase in revenue for the period. In addition to expanding upon the customer base of its existing product lines, ISCO also completed the development and testing of two new products to be sold under the trusted Lifeline Skin Care brand moving forward. Lifeline Cell Technology, ISCO’s human cell manufacturing subsidiary, posted similar financial growth for the quarter, recording an 11 percent year-over-year increase in sales.
The company’s strong financial performance through its subsidiaries helped fund its considerable progress toward the development of its proprietary human parthenogenetic neural stem cells (hpNSCs). In preclinical testing, ISCO demonstrated the capability of its cells to significantly reduce neurological dysfunction following a stroke in animal models. Following the publication of two proof of concept studies that demonstrate the safety and efficacy of the company’s stem cell treatment techniques in both non-human primate and rodent animal models, ISCO expects to begin its Parkinson’s disease trials in the Australian market before the end of this year.
“We look forward to receiving Australian TGA authorization to start clinical trials,” continued Semechkin. “We expect to dose the first Parkinson’s disease patients in this trial in Q4 2015.”
For prospective shareholders, ISCO’s ability to generate revenue and maintain a strong cash position during clinical development programs is a promising indication of the company’s long-term viability. Look for ISCO to continue leaning on the established market presence of its subsidiaries in order to fund the ongoing clinical development of its promising Parkinson’s disease treatment program while simultaneously promoting sustainable returns.
For more information, visit www.internationalstemcell.com
Please read full disclaimers at http://disclaimer.missionir.com
