ImmunoCellular Therapeutics, Ltd. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2017
November 21, 2017 at 04:05 pm EST
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ImmunoCellular Therapeutics, Ltd. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2017. Net loss for the quarter ended September 30, 2017, was $3.9 million compared to $4.8 million in the same period in 2016. Net loss available to common shareholders for the quarter ended September 30, 2017, was $6.1 million, or $0.40 per basic and diluted common share, compared to $4.8 million, or $1.58 per basic and diluted common share, in the same period in 2016. The 2017 net loss available to common shareholders includes the net loss of $3.9 million plus $1.6 million of deemed dividends and $600,000 of original issue discount associated with the convertible preferred stock issued as part of the July 2017 financing. Loss before other income was $3,900,988 against $5,472,276 a year ago. Interest income was $109 against $9,920 a year ago.
For the nine months ended September 30, 2017, the company incurred a net loss of $13.9 million compared to $15.8 million in the same period in 2016. Net loss available to common shareholders for the nine months ended September 30, 2017 was $16.1 million, or $2.13 per basic and diluted share, compared to $15.8 million, or $6.19 per basic and diluted share, during the same period in 2016. The 2017 net loss available to common shareholders includes the net loss of $13.9 million plus $1.6 million of deemed dividends and $600,000 of original issue discount associated with the convertible preferred stock issued as part of the July 2017 financing. The company used $11.7 million of cash in operations compared to $16.1 million in the same period in 2016. Loss before other income was $20,721,753 against $16,792,720 a year ago. Interest income was $4,284 against $18,831 a year ago.
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.