U.S. Stem Cell, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2021
August 12, 2021 at 03:26 pm EDT
Share
U.S. Stem Cell, Inc. announced earnings results for the second quarter ended June 30, 2021. For the second quarter, the company announced total revenue was USD 35,442 compared to USD 39,654 a year ago. Operating loss was USD 781,205 compared to USD 468,581 a year ago. Net loss was USD 994,194 compared to USD 569,243 a year ago. For the half year, total revenue was USD 119,822 compared to USD 97,146 a year ago. Operating loss was USD 1.268 million compared to USD 966,721 a year ago. Net loss was USD 1.973 million compared to USD 1.145 million a year ago.
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.