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Aastrom Biosciences Reports First Quarter Results.(Brief Article)
2001 NOV 14 - (NewsRx.com & NewsRx.net) -- Aastrom Biosciences Inc., a firm that develops proprietary cell therapeutic technologies, has announced financial results for the first fiscal quarter ended September 30, 2001. For the quarter, the company raised approximately $7 million from the sale of common stock through a series of financing transactions. These proceeds have improved the company's ability to fuel its growing development program initiatives for the new fiscal year which includes initiating European sales and marketing of its CE Mark approved products for stem cell therapeutics and dendritic cell vaccines.
For the quarter ended September 30, 2001, the company reported a net loss of $1.9 million, or $.05 per common share, up from a net loss of $1.4 million, or $.04 per common share for the same period in 2000. Revenues, generated by grant funding, for the quarter ended September 30, 2001 were $151,000, compared with $167,000 in 2000, consistent with our operating strategies. Costs and expenses for the quarter ended September 30, 2001 increased to $2.2 million, compared with $1.8 million for the same period in 2000.
Increases in costs and ...
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Source: HighBeam Research, Aastrom Biosciences Reports First Quarter Results.(Brief Article)