Stellar Biotechnologies Reports Positive Financial Results

Stellar Biotechnologies, Inc. (OTCQB:SBOTF,TSXV:KLH) reported an increase in revenues for the second quarter: $91,103 compared to 2013”s $61,481. The Company also reported cash and cash equivalents as of February 28, 2014 at $15.8 million, compared to $7.9 million at year-end August 31, 2013.

As quoted in the press release:

Second Quarter and First Six Months 2014 Results
Cash Position: Cash and cash equivalents as of February 28, 2014 were $15.8 million, compared to $ 7.9 million at year-end August 31, 2013.

As of February 28, 2014, Stellar had shareholders equity of $9.1 million and approximately 78 million shares outstanding.

Revenues: Revenues were $91,103 in the second quarter and $150,267 for the six months ended February 28, 2014 compared to $61,481 and $177,208 in the comparable periods in 2013.

Stellar Biotechnologies President and CEO, Frank Oakes, said:

We continue to make progress with our core KLH manufacturing and strengthen our relationships with key stakeholders and commercial partners. On the new development front, we expect completion of the secondary preclinical study in our Active Immunotherapy program for Clostridium difficile (“C. diff”) in 2014 and to publish results as soon as possible. Our financial position remains strong with approximately $15.8 million cash and equivalents which will support the enhancement of Stellar’s immunotherapy program, KLH product research, aquaculture and KLH production expansion.

Click here to read the Stellar Biotechnologies Inc. (OTCQB:SBOTF,TSXV:KLH) press release