Asterias Biotherapeutics (AST) saw its loss widen to $9.35 million, or $0.20 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $4.90 million, or $0.13 a share.     

Revenue during the quarter surged 187.99 percent to $1.75 million from $0.61 million in the previous year period. Gross margin for the quarter contracted 2 basis points over the previous year period to 99.49 percent.  

Operating loss for the quarter was $8.53 million, compared with an operating loss of $7.63 million in the previous year period.

"Asterias has achieved substantial progress over the last year, highlighted by previously announced positive interim efficacy and safety results from our ongoing SCiStar Phase 1/2a clinical trial, as well as initiation of operations at our new cGMP manufacturing facility for AST-OPC1," said Steve Cartt, president and chief executive officer. "We are particularly encouraged by the results we have seen to date in the SCiStar trial, which we believe provide solid evidence of the potential for AST-OPC1 to help patients with complete paralysis recover arm, hand and finger function. Such recovery is critically important to increasing both independence and quality of life in patients who suffer complete cervical spinal cord injuries. In 2017, we look forward to completing study enrollment, engaging in discussions with the FDA to determine our optimal clinical path forward, and reporting more efficacy and safety data later in the year as it becomes available."