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International Stem Cell Corporation Announces Second Quarter 2011 Financial Results and Corporate Events

Posted: August 21, 2011 at 4:04 pm


International Stem Cell Corporation (OTCBB: ISCO), a biotechnology company that developed a powerful new stem cell technology called "parthenogenesis" which promises to significantly advance the field of regenerative medicine, today announced financial results for the quarter ended June 30, 2011 and for the first six months of the fiscal year and provided an update on corporate events.

ISCO reported year-to-date revenues of $2.6 million compared to $0.7 million for the same time period in 2010, representing an increase of 271%. The increase in our revenues relates to sales generated by ISCO's wholly-owned subsidiaries Lifeline Skin Care (LSC) which contributed $1.7 million and Lifeline Cell Technology (LCT) which contributed $0.9 million of revenues.

Total year-to-date expenses, excluding cost of sales increased $2.0 million or 38%, compared to the first six months of the previous year. The most significant reasons for the increase in total expenses related to increases in R&D and G&A. Research & Development expenses increased primarily due to increased activity on our scientific projects. General & Administrative expenses increased primarily due to increased headcount, non-cash stock-based compensation and increased expenses related to business development activity and general corporate expenses.
Our cash balance at June 30, 2011 was $3.6 million. Net cash used in operating activities for the six months ended June 30, 2011 was $3.0 million.

Second Quarter 2011 Highlights:
-- The first U.S.-based donor was enrolled in ISCO's program to establish a bank of clinical-grade human parthenogenetic stem cells (hpSCs) capable of being immune-matched to millions of patients.

-- We strengthened our senior management team to assist in the continued development of the Company. Kurt May was appointed Senior Vice President responsible for mergers and acquisitions and development of new international collaborations. Donna Queen was added to the management team as Vice President of LSC, where she is responsible for marketing and business development.

-- We started a series of preclinical animal studies of neuronal cells derived from hpSCs. The studies will evaluate the in vivo safety and tumorigenicity of neuronal cells as well as their ability to develop into functioning dopaminergic neuron–like cells to treat Parkinson's disease.

-- We successfully completed the first series of preclinical testing of hepatocytes derived from hpSCs. In the transplantation mouse model, inoculated cells were capable of engrafting and surviving in specific niches within the liver, and were further developing into cells with essential hepatocyte-like features.

About International Stem Cell Corporation
International Stem Cell Corporation is focused on the therapeutic applications of human parthenogenetic stem cells and the development and commercialization of cell-based research and cosmetic products. ISCO's core technology, parthenogenesis, results in the creation of pluripotent human stem cells from unfertilized oocytes (eggs). hpSCs avoid ethical issues associated with the use or destruction of viable human embryos. ISCO scientists have created the first parthenogenic, homozygous stem cell line that can be a source of therapeutic cells with minimal immune rejection after transplantation into hundreds of millions of individuals of differing genders, ages and racial background. This offers the potential to create the first true stem cell bank, UniStemCell™. ISCO also produces and markets specialized cells and growth media for therapeutic research worldwide through its subsidiary Lifeline Cell Technology, and cell-based skin care products through its subsidiary Lifeline Skin Care. More information is available at http://www.internationalstemcell.com.
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International Stem Cell Corporation and Subsidiaries
(A Development Stage Company)
Condensed Consolidated Statements of Financial Condition
June 30,
2011
December 31,
2010
(Restated)(1)
(Unaudited)
Assets
Cash and cash equivalents
$
3,581,933
$
5,782,027
Accounts receivable
341,666
738,506
Inventory
1,329,433
856,083
Prepaid expenses and other current assets
290,196
228,338
Total current assets
5,543,228
7,604,954
Property and equipment, net
1,495,916
1,295,328
Patent licenses, net
1,056,562
986,714
Deposits and other assets
16,279
39,812
Total assets
$
8,111,985
$
9,926,808
Liabilities and Stockholders' Equity
Accounts payable
$
1,032,531
$
582,824
Accrued expenses
855,315
545,781
Deferred revenue
137,834
759,667
Advances
250,000
250,000
Warrants to purchase common stock
1,027,171
2,399,605
Total current liabilities
3,302,851
4,537,877
Commitments and contingencies
Stockholders' Equity
Common stock, $.001 par value, 200,000,000 shares authorized, 76,599,928 shares and 74,771,107 shares issued and outstanding at June 30, 2011 and December 31, 2010, respectively
76,600
74,771
Convertible preferred stock, $.001 par value, 20,000,000 shares authorized, 2,800,043 shares issued and outstanding at June 30, 2011 and December 31, 2010, respectively
2,800
2,800
Subscription receivable on common stock
-
(4,875
)
Additional paid-in capital
59,780,363
56,170,006
Deficit accumulated during the development stage
(55,050,629
)
(50,853,771
)
Total stockholders' equity
4,809,134
5,388,931
Total liabilities and stockholders' equity
$
8,111,985
$
9,926,808

(1)
The Company restated its financial statements for the year ended December 31, 2010, and the quarter ended March 31, 2011.
International Stem Cell Corporation and Subsidiaries
(A Development Stage Company)
Condensed Consolidated Statements of Operations
(Unaudited)
Three Months Ended
June 30,
Six Months Ended
June 30,
Inception
(August 2001)
through
June 30,
2011
(Restated)(1)
2011
2010
(Restated)(1)
2011
(Restated)(1)
2010
(Restated)(1)
Revenues
Product sales
$
1,114,309
$
441,118
$
2,629,225
$
713,744
$
5,728,390
Royalties and license
-
-
-
-
135,000
Total revenue
$
1,114,309
$
441,118
$
2,629,225
$
713,744
$
5,863,390
Development expenses
Cost of sales
362,131
214,330
791,125
360,706
2,506,597
Research and development
1,128,869
754,000
2,132,279
1,338,069
15,992,557
Marketing
345,800
291,576
664,006
424,994
3,063,155
General and administrative
2,135,732
2,033,615
4,368,470
3,408,821
27,692,292
Total development expenses
3,972,532
3,293,521
7,955,880
5,532,590
49,254,601
Loss from development activities
(2,858,223
)
(2,852,403
)
(5,326,655
)
(4,818,846
)
(43,391,211
)
Other income (expense)
Settlement with related company
-
-
-
-
(92,613
)
Miscellaneous expense
(12,040
)
(256
)
(11,140
)
(20,649
)
(28,652
)
Dividend income
-
350
-
25,999
92,875
Interest expense
-
(6,805
)
-
(14,079
)
(2,225,074
)
Sublease income
2,450
2,125
4,650
3,525
303,083
Change in market value of warrants
478,669
7,083,365
1,349,518
(1,347,960
)
(2,380,664
)
Total other income (expense)
469,079
7,078,779
1,343,028
(1,353,164
)
(4,331,045
)
Income (loss) before income taxes
(2,389,144
)
4,226,376
(3,983,627
)
(6,172,010
)
(47,722,256
)
Provision for income taxes
-
-
-
-
6,800
Net income (loss)
$
(2,389,144
)
$
4,226,376
$
(3,983,627
)
$
(6,172,010
)
$
(47,729,056
)
Dividends on preferred stock
$
(107,203
)
$
-
$
(213,231
)
$
(1,238,067
)
$
(7,751,380
)
Net income (loss) attributable to common stockholders
$
(2,496,347
)
$
4,226,376
$
(4,196,858
)
$
(7,410,077
)
$
(55,480,436
)
Basic earnings per common share
$
(0.03
)
$
0.06
$
(0.06
)
$
(0.11
)
Diluted earnings per common share
$
(0.03
)
$
0.04
$
(0.06
)
$
(0.11
)
Share used in per share calculations:
Weighted average shares outstanding
76,340,016
68,676,504
75,842,071
64,789,250
Weighted average shares outstanding on a Fully Diluted Basis
76,340,016
114,797,830
75,842,071
64,789,250
(1)
The Company restated its financial statements for the year ended December 31, 2010, and the quarter ended March 31, 2011.
http://cts.businesswire.com/ct/CT?id=bwnews&sty=20110817005393r1&sid=14230&distro=ftp
International Stem Cell Corporation
Kenneth C. Aldrich, Chairman
760-940-6383
kaldrich@intlstemcell.com
Or
Ray Wood, CFO
760-940-6383
rwood@intlstemcell.com

Source:
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Posted in Stem Cells, Stem Cell Therapy | Comments Off on International Stem Cell Corporation Announces Second Quarter 2011 Financial Results and Corporate Events

Part 3: The Ellis Martin Report with Ken Aldrich of Int Stem Cell Corp (ISCO.OB)

Posted: August 21, 2011 at 4:04 pm


Ellis Martin of The Ellis Martin Report interviews Ken Aldrich of International Stem Cell Corporation (ISCO.OB) on the latest research involving stem cell technology utilizing unfertilized eggs, as a basis for cell generation with a goal toward organ transplants which are immune to rejection by the body...as well as other applications. Mr. Aldrich also discusses neurological applications focusing on reversing Parkinson's disease. Preventing and reversing blindness is another topic covered. 


International Stem cell Corporation is a paid sponsor of The Ellis Martin Report

Source:
http://intlstemcell.blogspot.com/feeds/posts/default?alt=rss

Posted in Stem Cells, Stem Cell Therapy | Comments Off on Part 3: The Ellis Martin Report with Ken Aldrich of Int Stem Cell Corp (ISCO.OB)

Vitamin D deficiency unquestionably linked to bone fractures

Posted: August 21, 2011 at 4:03 pm

Recent research from Scotland reinforces the longstanding medical opinion that vitamin D deficiency leads to a significantly increased risk of bone fractures.

Among people with hip fractures referred to the Scottish fracture liaison service, 98 percent test positive for serious deficiencies in vitamin D. Supplementation with the vitamin, on the other hand, significantly reduces the risk of repeat fractures.

"Taking a supplement can make a difference quite quickly," said Stephen Gallacher, head of the liaison service. "Bone density can increase by 20 percent in a few months with enough vitamin D."

"We have found we can reduce fractures by something like 30 to 50 percent. It is our belief that we can significantly reduce the risk of fractures in the population by giving people anti-osteoporosis therapy and vitamin D supplements."Read more...

Cardiofy Heart Care Supplement

Source:
http://feeds.feedburner.com/integratedmedicine

Posted in Integrative Medicine | Comments Off on Vitamin D deficiency unquestionably linked to bone fractures

International Stem Cell's Q2 Revenues Nearly Triple by Deborah Sterescu

Posted: August 21, 2011 at 4:03 pm

International Stem Cell Corporation (ISCO) (OTCBB:ISCO) reported Wednesday that second quarter sales more than doubled to almost triple, while year-to-date sales jumped a whopping 271%, as the company's operating subsidiaries continue to generate more revenue.
In addition to its hugely potentially valuable stem cell therapy business, the company also two other operations that have reflected revenue growth in the meantime, including Lifeline Cell Technology, which sells its cell-culture products to researchers to grow human cells for pre-clinical research, and Lifeline Skin Care, which sells skin care products based on its parent's stem cell technology.
For the three months ending June 30, International Stem Cell saw revenues rise to $1.1 million, from $0.44 million a year earlier.
Year-to-date revenues totaled $2.6 million, versus $0.7 million for the same period in 2010, helped by a $1.7 million contribution from Lifeline Skin Care, and a $0.9 million addition from Lifeline Cell.
In the last quarter, Lifeline Cell gained over 200 new customers due to new product introductions and the development of distribution channels internationally, a strategy ISCO plans to continue.
Meanwhile, the company's skin care business is coming off a highly successful launch at the end of last year, exceeding its plans to sell 1,000 products, with 7,000 products sold initially. Lifeline Skin plans to aggressively kick start major marketing initiatives again in September.
While these two subsidiaries are busy chalking up revenues, ISCO, whose parthenogenetic stem cell technology can be used to derive pluripotent stem cells, meaning they can be transformed into any cell type in the body, has many important advantages at its fingertips.
Regenerative medicine is a market that is set to boom in the coming years, as more and more companies are developing therapies based on stem cell use. International Stem Cell's long-term goal is to be a universal supplier of stem cells for not just one, but a host of therapies.
The company's parthenogenetic stem cells are derived from unfertilized eggs, avoiding the ethical issues behind the destruction of viable human embryos. Like embryonic stem cells, they also have the capacity to become almost any cell type in the body, but have demonstrated they are better in terms of the immune system, as one single stem cell line can be genetically matched to millions of people, reducing the need for immunosuppressants.
Its plan is to establish a US bank of its clinical-grade human parthenogenetic stem cells that will be capable of being immune-matched to millions of patients, so that a physician could call up and request a specific cell type for people. The company, which recently received approvals to enroll around 3 US donors for its bank, already has a collection of ten human parthenogenetic stem cell lines used for research purposes, which were derived outside the US.
These cell lines could potentially be used to cure a number of diseases, including cancer, heart disease, liver disease, among many others. Already, the company has several trials in the works, and has successfully demonstrated in pre-clinical animal studies that its stem cells can be used to create viable liver cells. It has also started pre-clinical animal trials to create neuronal cells in the brain, to potentially cure Parkinson's disease.
Unsurprisingly, all this work to progress the company's technology has increased expenses, contributing to a $2.5 million loss in the second quarter, or a 3 cent loss per share.
Research and development costs grew on account of greater scientific projects, while general and administrative costs leapt on increased headcount as the company bulks up its management team.
International Stem Cell, with $3.6 million in the bank at the end of the quarter, said that it has not ruled out future capital raising, but it already has a facility that allows it to draw equity as necessary to secure its planned growth.

Source:
http://intlstemcell.blogspot.com/feeds/posts/default?alt=rss

Posted in Stem Cells, Stem Cell Therapy | Comments Off on International Stem Cell's Q2 Revenues Nearly Triple by Deborah Sterescu

International Stem Cell Corporation Announces Second Quarter 2011 Financial Results and Corporate Events

Posted: August 21, 2011 at 4:03 pm

Posted in Stem Cells, Stem Cell Therapy | Comments Off on International Stem Cell Corporation Announces Second Quarter 2011 Financial Results and Corporate Events

Part 3: The Ellis Martin Report with Ken Aldrich of Int Stem Cell Corp (ISCO.OB)

Posted: August 21, 2011 at 4:03 pm


Ellis Martin of The Ellis Martin Report interviews Ken Aldrich of International Stem Cell Corporation (ISCO.OB) on the latest research involving stem cell technology utilizing unfertilized eggs, as a basis for cell generation with a goal toward organ transplants which are immune to rejection by the body...as well as other applications. Mr. Aldrich also discusses neurological applications focusing on reversing Parkinson's disease. Preventing and reversing blindness is another topic covered. 


International Stem cell Corporation is a paid sponsor of The Ellis Martin Report

Source:
http://intlstemcell.blogspot.com/feeds/posts/default?alt=rss

Posted in Stem Cells, Stem Cell Therapy | Comments Off on Part 3: The Ellis Martin Report with Ken Aldrich of Int Stem Cell Corp (ISCO.OB)

Dr Steve talks about stem cells.mov

Posted: August 20, 2011 at 10:57 pm

Dr Steven Larigakis, a Family Doctor practicing in Surrey, BC, shares his personal story of Lymphoma.

Read this article:
Dr Steve talks about stem cells.mov

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Stem Cells Becoming Key In Bone Growth

Posted: August 20, 2011 at 10:57 pm

A stem cell technique that puts fat to good use is already benefiting patients.

Read more:
Stem Cells Becoming Key In Bone Growth

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DermaStem Renewal Serum – Stem Cells for Your Skin from STEMTech – New Paradigm in Beauty!

Posted: August 20, 2011 at 2:45 am

gmp.stemtechbiz.com ( USA ) , gmp.stemtechbiz.ca ( Canada ) Now DermaStem™ Renewal Serum supports the renewal of the body's largest organ, the skin, by supporting the natural role of skin stem cells while providing regenerative properties and protection to the skin, fighting the signs of premature aging by restoring firmness, elasticity and tone to the epidermis. Working in partnership with the adult stem cells that are delivered to the dermis by Stemtech's nutritional supplements, DermaStem restructures the skin at the cellular level.

Read the original here:
DermaStem Renewal Serum - Stem Cells for Your Skin from STEMTech - New Paradigm in Beauty!

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8-18-11 wound care doctor… A day in life stem cell transp

Posted: August 20, 2011 at 2:45 am

Very pleased with wound care specialist.

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8-18-11 wound care doctor... A day in life stem cell transp

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