ImmunoCellular Therapeutics, Ltd. Announces Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017
March 13, 2018 at 04:41 pm EDT
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ImmunoCellular Therapeutics, Ltd. announced consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported net loss for the quarter ended December 31, 2017, was $431,000, or $0.01 per basic and diluted common share, compared to $6.3 million, or $1.36 per basic and diluted common share, for the quarter ended December 31, 2016. The decrease in the net loss is attributable to reduction in research and development associated with the suspension of the phase 3 trial of ICT-107 as well as certain discounts that the Company negotiated with key vendors.
For the year, the company reported loss before other income was $21,153,444 compared with $24,112,125 a year ago. Net loss before provision for income taxes was $14,312,007 compared with $22,085,702 a year ago. Net loss attributable to common shareholders was $17,681,653 compared with $22,085,702 a year ago. Net loss attributable per share to common stockholder, basic and diluted was $1.23 compared with $7.89 a year ago. The 2017 net loss available to common stockholders includes the net loss of $14.3 million, plus $2.3 million of deemed dividends and $1.0 million of original issue discount associated with the convertible preferred stock issued as part of the July 2017 financing. There were no similar charges during 2016.
EOM Pharmaceutical Holdings, Inc. is a clinical-stage pharmaceutical company. The Company is focused on developing novel drugs for patients suffering from debilitating and deadly diseases, including infectious diseases; autoimmune diseases including rheumatoid arthritis; and cachexia associated with acquired immune deficiency syndrome (AIDS) and cancer. It has two pipeline assets in their portfolio: EOM613 and EOM147. EOM613 is an investigational immunomodulator. EOM613 is a peptide-nucleic acid solution with both anti-inflammatory and pro-inflammatory broad spectrum cytokine effects. EOM613 helps to suppress or stimulate monocytes and macrophages depending on the activation state and environment of those key immune cells resulting in either further activation or suppression. EOM 147 is an investigational, broad-spectrum aminosterol with an intracellular mechanism for the treatment of retinal diseases. EOM147 affects multiple angiogenic growth factors such as VEGF, PdGF, and bFGF.