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CARLSBAD, CA / ACCESSWIRE / November 15, 2019 / International Stem Cell Corporation (OTCQB:ISCO) ( http://www.internationalstemcell.com ) (ISCO or the Company), a California-based clinical stage biotechnology company developing novel stem cell-based therapies and biomedical products, today announced operating results for the three and nine months ended September 30, 2019.
As we mentioned before we completed the enrollment of the Phase I Parkinsons disease clinical trial and currently involved in reorganizing our revenue-generating subsidiaries. We expect that we will see positive results of this reorganization next year. - commented Andrey Semechkin, PhD., CEO and Co-Chairman of ISCO.
Year-to-Date Financial Highlights
About International Stem Cell Corporation
International Stem Cell Corporation is focused on the therapeutic applications of human parthenogenetic stem cells (hpSCs) and the development and commercialization of cell-based research and cosmetic products. ISCOs 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 parthenogenetic, homozygous stem cell line that can be a source of therapeutic cells for hundreds of millions of individuals of differing genders, ages and racial background with minimal immune rejection after transplantation. hpSCs offer 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 ( http://www.lifelinecelltech.com ), and stem cell-based skin care products through its subsidiary Lifeline Skin Care (www.lifelineskincare.com). More information is available at http://www.internationalstemcell.com.
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Safe Harbor Statement
Statements pertaining to anticipated developments, expected results of clinical studies, progress of research and development, and other opportunities for the company and its subsidiaries, along with other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements. Any statements that are not historical fact (including, but not limited to statements that contain words such as will, believes, plans, anticipates, expects, estimates,) should also be considered to be forward-looking statements. Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in the development and/or commercialization of potential products, regulatory approvals, need and ability to obtain future capital, application of capital resources among competing uses, and maintenance of intellectual property rights. Actual results may differ materially from the results anticipated in these forward-looking statements and as such should be evaluated together with the many uncertainties that affect the companys business, particularly those mentioned in the cautionary statements found in the companys Securities and Exchange Commission filings. The company disclaims any intent or obligation to update forward-looking statements.
International Stem Cell Corporation and Subsidiaries Condensed Consolidated Balance Sheets (in thousands, except share data and par value) (Unaudited)
Assets
Cash
Accounts receivable, net
Inventory, net
Prepaid expenses and other current assets
Total current assets
Non-current inventory
Property and equipment, net
Intangible assets, net
Right-of-use assets
Deposits and other assets
Total assets
Liabilities, Redeemable Convertible Preferred Stock, and Stockholders' Equity (Deficit)
Accounts payable
Accrued liabilities
Operating lease liabilities, current
Related party payable
Advances
Warrant liability
Total current liabilities
Long-term deferred rent
Operating lease liabilities, net of current portion
Total liabilities
Commitments and Contingencies
Series D Redeemable Convertible Preferred stock, $0.001 par value, 50 shares authorized, 43 issued and
outstanding, with liquidation preference of $4,300 at September 30, 2019
Stockholders' Equity (Deficit)
Series B Convertible Preferred stock, $0.001 par value, 5,000,000 shares authorized, 250,000
issued and outstanding, with liquidation preferences of $423 and $411 at September 30, 2019 and
December 31, 2018
Series D Convertible Preferred stock, $0.001 par value, 50 shares authorized, 43 issued and
outstanding, with liquidation preference of $4,300 at December 31, 2018
Series G Convertible Preferred stock, $0.001 par value, 5,000,000 shares authorized, issued and
outstanding, with liquidation preference of $5,000 at September 30, 2019 and December 31, 2018
Series I-1 Convertible Preferred stock, $0.001 par value, 2,000 shares authorized, 814 issued and
outstanding, with liquidation preferences of $814 at September 30, 2019 and December 31, 2018
Series I-2 Convertible Preferred stock, $0.001 par value, 4,310 shares authorized,
issued and outstanding with liquidation preference of $4,310 at September 30, 2019 and December 31, 2018
Common stock, $0.001 par value, 120,000,000 shares authorized, 7,533,083 and 6,933,861 shares
issued and outstanding at September 30, 2019 and December 31, 2018
Additional paid-in capital
Accumulated deficit
Total stockholders' equity (deficit)
Total liabilities, redeemable convertible preferred stock and stockholders' equity (deficit)
International Stem Cell Corporation and Subsidiaries Condensed Consolidated Statements of Operations (in thousands, except per share data) (Unaudited)
Revenues
Product sales
Total revenues
Expenses
Cost of sales
Research and development
Selling and marketing
General and administrative
Total expenses
Loss from operations
Other income (expense)
Change in fair value of warrant liability
Interest expense
Miscellaneous income
Total other income (expense), net
Net income (loss)
Net income (loss) applicable to common stockholders
Net income (loss) per common share-basic
Net income (loss) per common share-diluted
Weighted average shares-basic
Weighted average shares-diluted
Contacts:
International Stem Cell Corporation
Russell A. Kern, PhD
Phone: 760-940-6383
Email:
SOURCE: International Stem Cell CORP
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