U.S. Stem Cell, Inc. Reports Earnings Results for the Fourth Quarter and Year Ended December 31, 2018
March 13, 2019 at 04:20 pm EDT
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U.S. Stem Cell, Inc. reported earnings results for the fourth quarter and year ended December 31, 2018. For the three months ended December 31, 2018, the company reported a $190,000 or 13% increase in revenue, from $1.5 million to $1.7 million, compared to the same period last year. For the three months ended December 31, 2018, net operating (loss) was $47,000 compared to a profit of $152,000 for the same period last year.
For the year, consistent with performance for the past two years, revenue continues to increase, up 21% or $1.2 million for year-end, 2018 compared to 2017, from $5.5 million to $6.7 million. Net operating (loss) was $1.1 million for 2018, compared to $805,000 for 2017.
U.S. Stem Cell, Inc. is a biotechnology company. The Company is focused on the discovery, development and subject to regulatory approval and commercialization of autologous cell therapies for the treatment of chronic and acute heart damage. The Company's product candidates are MyoCell, MyoCell SDF-1 and Adipocell. MyoCell and MyoCell SDF-1 product candidates are clinical therapies designed to populate regions of scar tissue within a patient's heart with autologous muscle cells, or cells from a patient's body, for the purpose of improving cardiac function in chronic heart failure patients. MyoCell SDF-1 is similar to MyoCell except that the myoblast cells to be injected for use in MyoCell SDF-1 will be modified prior to injection by an adenovirus vector or non-viral vector. Adipocell product candidate is a cell therapy kit with multiple possible treatment applications using autologous adipose cells. It is also investigating the use of adipose cells in a variety of clinical applications.
U.S. STEM CELL, INC. 
