International Stem Cell Corporation Announces Operating Results for the Quarter Ended March 31, 2018

International Stem Cell (OTCQB:ISCO) a California-based clinical stage biotechnology company developing novel stem cell-based therapies and biomedical products, today provided a business update announcing operating results for the three months ended March 31, 2018.

As quoted in the press release:

Consolidated revenue for the first quarter of 2018 was $2.6 million, an increase of 30% compared to the consolidated revenue of $2.0 million for the first quarter of 2017.

Combined operating income for the quarter ended March 31, 2018 from our two wholly owned revenue generating subsidiaries was $631,000, an increase of 10% compared to $572,000 in the first quarter of 2017.

Average net cash used in operating activities, excluding capital expenditures and patent costs, was approximately $16,000 per month during the three months ended March 31, 2018, a decrease of 92%, compared to $190,000 per month for the same period in 2017.

Net loss for ISCO was $830,000 for the first quarter of 2018 compared to a net loss of $3.1 million for the first quarter in 2017, a decrease of 73%.

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