Trillium Therapeutics Inc (TRIL)

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Stem Cell Therapeutics Corp. Announces YearEnd 2009 Financial Results
4/13/2010 5:39:12 PM - Market Wire

CALGARY,ALBERTA, Apr 13, 2010 (MARKETWIRE via COMTEX News Network) --
StemCell Therapeutics Corp. ("SCT") (TSX VENTURE: SSS) today announced itsfinancial results for the period ended December 31, 2009.

OperatingHighlights from 2009 and the period ending April 13, 2010:

-- Presented positive final results for the BETAS Phase IIa clinical safety
study in stroke in February 2009, including all U.S. and Canadian
patient data
-- Received FDA approval to proceed with the modified REGENESIS Phase IIb
acute ischemic stroke trial
-- Initiated and began enrolling patients in India and Canada for the
modified REGENESIS Phase IIb acute ischemic stroke trial
-- Completed enrollment in modified REGENESIS Phase IIb acute ischemic
stroke study; Q1 10
2010 Objectives
-- Report Top-line REGENESIS Phase IIb data; Q2 10
-- Complete preclinical study for hemorrhagic stroke; H2 10
-- Complete 'end of Phase II' meeting with FDA; H2 10
-- Initiate and enroll patients in a Phase IIa TBI clinical study; H1 10
-- Initiate MS clinical Proof-of-Concept study; H2 10


Capital Position

As of December 31, 2009, the workingcapital (current assets minus current liabilities) of the Company was$4,100,869 ($5,803,377 as of December 31, 2008).

Outstandingsecurities as of December 31, 2009 totaled 152,905,004 common shares,34,070,983 common share purchase warrants and 14,012,500 common shareoptions. On April 13, 2010 there were 153,005,004 common shares,33,970,983 common share purchase warrants and 14,012,500 common shareoptions outstanding.

Financial Review

The Company's lossfor the year ended December 31, 2009 decreased by $902,624 to $4,656,893(
.03 per common share) from the loss of $5,559,517 (
.05 per commonshare) reported for the year ended December 31, 2008. The primary reasonfor the decrease in loss was a decrease in general and administrationexpense, management and consulting fees, research and developmentexpenses, professional fees and because there was no deemed interestpaid in the year. The decrease in these expenses was partially offset bythe recording of a foreign exchange loss, as well as a decrease ininterest income and an increase in stock option expense.

Dr. AlanMoore, President & CEO of SCT commented as follows:

"2009was a game-changing year for us as a Company. Working with the FDA andHealth Canada to lift the clinical hold and then completing enrollmentin the key phase IIb modified REGENESIS study were major accomplishmentsputting the Company in a strong position heading into 2010.

Additionally,the commitment that senior management showed to the Company in 2009,through their salary reductions and deferring any bonus payments, hasresulted in us maintaining a strong financial position to complete ourwork in 2010."

About Stem Cell Therapeutics Corp.: Stem CellTherapeutics Corp. is a Canadian public biotechnology company (TSXVENTURE: SSS) focused on the development and commercialization ofdrug-based therapies to treat central nervous system diseases. SCT is aleader in the development of therapies that utilize drugs to stimulate apatient's own resident stem cells. The Company's programs aim to repairneurological function lost due to disease or injury. SCT's extensivepatent portfolio of owned and licensed intellectual property supportsthe potential expansion into future clinical programs in numerousneurological diseases such as traumatic brain injury, multiplesclerosis, Huntington's disease, Alzheimer's disease, and ALS.

Thesesecurities have not been registered under the United States SecuritiesAct of 1933, as amended, or the securities laws of any state, and maynot be offered or sold within the United States or to, or for theaccount or benefit of U.S. persons unless an applicable exemption fromU.S. registration requirements is available.

Except forhistorical information, this press release may contain forward-lookingstatements, which reflect the Company's current expectation regardingfuture events. These forward-looking statements involve risk anduncertainties, which may cause but are not limited to, changing marketconditions, the successful and timely completion of clinical studies,the establishment of corporate alliances, the impact of competitiveproducts and pricing, new product development, uncertainties related tothe regulatory approval process and other risks detailed from time totime in the Company's ongoing quarterly and annual reporting.

TheTSX Venture Exchange does not accept responsibility for the adequacy oraccuracy of this release.

Contacts: Stem Cell TherapeuticsCorp. Alan Moore, PhD President and CEO 403-245-5495 [e-mail] Stem Cell Therapeutics Corp. AngelikaGoncalves DaSilva Operations Manager 403-245-5495 ext. [e-mail] www.stemcellthera.com

SOURCE: StemCell Therapeutics Corp.

mailto:[e-mail]:[e-mail] http://www.stemcellthera.com

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