International Stem Cell Corporation (ISCO) saw its loss narrow to $1.08 million, or $0.34 a share for the year ended Dec. 31, 2016. In the previous year period, the company reported a loss of $2.64 million, or $2.26 a share.
Revenue during the year dropped 5.11 percent to $7.16 million from $7.55 million in the previous year. Gross margin for the year expanded 10 basis points over the previous year to 72.87 percent. Operating margin for the year stood at negative 67.70 percent as compared to a negative 60.44 percent for the previous year.
Operating loss for the year was $4.85 million, compared with an operating loss of $4.56 million in the previous year.
"In 2016 we made a significant progress in the field of neurology. We transplanted human parthenogenetic stem cells-derived neural stem cells into patients with Parkinson's disease and we also were able to demonstrate a significant therapeutic potential of our cells in traumatic brain injury animal model," stated Andrey Semechkin, Ph.D., chief executive officer and co-chairman of ISCO. "In the area of ISCO commercial subsidiaries, substantial attention was dedicated to logistics and manufacturing processes optimization. Additionally, we have significantly expanded Lifeline Skin Care and Lifeline Cell Technology product lines. I believe that based on our recent achievements, we are well positioned for ISCO's future growth."
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
