Stemcells And Proteonomix Stock Update From Pennytobuck.com
PROTEONOMIX, INC
PROTEONOMIX, INC. (OTCBB:PROT), a biotechnology company focused on developing therapeutics based upon the use of human cells and their derivatives, is pleased to provide an update on their successful international approach to commercializing its proprietary and patent pending stem cell technologies.
Mr. Cohen stated, "Proteonomix has intentionally been quietly working on its regenerative medical products and treatments and its cosmetic stem cell product line Proteoderm making steady progress that we expect to become commercial in the near future. Stem cell therapeutics is a modality that is destined to become a disruptive medical technology, meaning that it will dramatically change the approach to medicine. We have believe that Proteonomix will be among those leading that change."
PROT is a biotechnology company focused on developing therapeutics based upon the use of human cells and their derivatives. Proteoderm, Inc. a wholly owned subsidiary of Proteonomix that has recently opened its retail web site, Proteoderm.com, and begun accepting pre-orders for its anti-aging line of skin care products. StromaCel, Inc.'s goal is the development therapeutic modalities for the treatment of Cardiovascular Disease (CVD). Please also visit http://www.proteonomix.com/, http://www.proteoderm.com/, http://www.otcqb.com/ and http://www.sec.gov/.
StemCells, Inc. (Nasdaq:STEM), a leading stem cell company developing and commercializing novel stem cell therapeutics and tools for use in stem cell-based research and drug discovery, reported financial results and business highlights for the second quarter ended June 30, 2010.
Second Quarter Financial Results
For the second quarter of 2010, STEM reported a net loss of $4,610,000, or $(0.04) per share, compared with a net loss of $7,366,000, or $(0.07) per share, for the second quarter of 2009. STEM's net loss in the second quarter of 2010 was reduced by other income of $2,440,000, which was recorded to reflect a decrease in the estimated fair value of warrant liability.
Total revenue in the second quarter of 2010 was $244,000, which was a 6% increase compared to total revenue in the first quarter of 2010. This increase was primarily due to a 51% increase in licensing and grant revenue, which offset lower product sales revenue from the Company's SC Proven(R) line of specialty cell culture products. Research and development expenses in the second quarter of 2010 were $4,858,000, a decrease of 4% compared to the first quarter of 2010. Selling, general and administrative expenses in the second quarter of 2010 were $2,286,000, a 12% decrease compared to the first quarter of 2010. Total operating expenses declined 7% on a quarter-over-quarter basis and 4% on a year-over-year basis.
Cash and cash equivalents at June 30, 2010 totaled $30,765,000, compared with $38,618,000 at December 31, 2009. For the first six months of 2010, cash used in operations totaled $13,746,000, and STEM raised $7,015,000 in net proceeds through sales of common stock.
StemCells, Inc. is engaged in the research, development, and commercialization of stem cell therapeutics and tools for use in stem cell-based research and drug discovery. In its therapeutic product development programs, StemCells is targeting diseases of the central nervous system and liver. StemCells' lead product candidate, HuCNS-SC(R) cells (purified human neural stem cells), is in clinical development for the treatment of two fatal neurodegenerative disorders that primarily affect young children. Please visit www.stemcellsinc.com.
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by:Bill Pennyman
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