ImmunoCellular Therapeutics, Ltd. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018
August 16, 2018 at 04:31 pm EDT
Share
ImmunoCellular Therapeutics, Ltd. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported loss before other income was $307,090 against $11,341,867 a year ago. Interest income was $386 against $381 a year ago. Net loss was $306,704 or $0.01 per basic and diluted share against $4,052,070 or $1.14 per basic and diluted share a year ago. The decrease in the net loss is primarily due to the suspension of the ICT-107 phase 3 trial in June of 2017 and reductions in the Company’s other research and development programs along with reductions in general and administrative expenses.
For the period, the company reported loss before other income was $1,332,287 against $16,820,765 a year ago. Interest income was $602 against $4,175 a year ago. Net loss was $1,331,685 or $0.03 per basic and diluted share against $9,979,833 or $2.81 per basic and diluted share a year ago. The company reported $3.8 million of cash used in operations during the six months period ended June 30, 2018, compared to $9.5 million in the same period in 2017.
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.