International Stem Cell Corp. (ISCO)

[Paulness]

NEWS -- International Stem Cell Corporation Announces 2017 Fourth Quarter and Year-End Results

Carlsbad, CA -- April 10, 2018 -- InvestorsHub NewsWire -- International Stem Cell Corporation (OTCQB:ISCO) (www.internationalstemcell.com) ("ISCO" or "the Company"), a California-based clinical stage biotechnology company developing novel stem cell-based therapies and biomedical products, today provided a business update and announced fourth quarter and year-end financial results for the period ending on December 31, 2017.

"In 2017 we made significant progress towards our business unit optimization and have managed to decrease operating cash burn by nearly fifty percent, all while conducting the world’s first clinical trial of neural stem cells in Parkinson’s disease patients. We recently completed stem cell transplantation in the second cohort of our patients and expect to initiate phase II before year’s end" stated Andrey Semechkin, Ph.D., CEO and Co-Chairman of ISCO. "We still face challenges, but I believe that our cutting-edge therapy and innovative commercial products, as well as seasoned executive team, will lead us to future success,” he continued.

FY 2017 Financial highlights:

• Revenues increased to $7.5 million in 2017 compared to $7.2 million in 2016;
• Combined operating income for the year ended December 31, 2017 from our two wholly owned revenue generating subsidiaries, Lifeline Cell Technology and Lifeline Skin Care, was $1.4 million, compared to $1.3 million in 2016
• Average net cash used in operating activities was approximately $179,000 per month for the year ended December 31, 2017, a decrease of 49%, compared to $350,000 in 2016;
• Gross margins declined 1% year over year to 72% in 2017, compared to 73% in 2016

Recent Corporate Highlights

• The second cohort of patients in the clinical trial for Parkinson's disease was successfully transplanted with 50,000,000 ISC-hpNSC® cells
• 13 pending patent applications covering internally-generated and in-licensed technologies were issued as patents

2018 Anticipated Events

• Complete dosing patients in phase I Parkinson's disease clinical trial
• Announce full safety results from the first cohort of patients currently in phase I of the Parkinson's disease clinical trial
• Commence phase II clinical study of ISC-hpNSC® for the treatment of Parkinson’s disease
• Initiate phase II clinical study of ISC-hpNSC® for the treatment of traumatic brain injury
• Publish pre-clinical data for traumatic brain injury program
• Receipt of US patent for manufacturing ISC-hpNSC®

Presentations

In 2017, the Company presented positive interim results of its clinical trial in Parkinson's disease at the following events:

• The American Society for Neural Therapy and Repair Annual Meeting;
• The American Society of Gene and Cell Therapy 20th Annual Meeting;
• The Society for Neuroscience Annual Meeting (Neuroscience 2017).

Follow the following link for the full press release:

https://ih.advfn.com/p.php?pid=nmona&article=77143496