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$ISCO On Radar ...
ISCO Huge Highlights: Strong 3rd Quarter Revenues and Growth!
Record revenues of $1.67 mill, a 41% increase over the corresponding period of 2012. Lifeline Skin Care sales up 54% and Lifeline Cell Technology sales up 30%. Gross margin stable at 73%.Net cash used in operating cash flows (which exclude capital expenditures and patent costs), reduced to approximately $0.47 million per month compared to $0.57 mil per month the corresponding period of 2012.Entered into a clinical research agreement with Duke University for the evaluation of ISCO's stem cell-derived neural stem cells for the treatment of Parkinson's disease. Prof. Mark Stacy, M.D., Vice Dean for Clinical Research, Neurology at Duke University School of Medicine and an internationally recognized leader in the field of Movement Disorders, will be the principal investigator.Convened a key opinion leader meeting bringing together leading experts from throughout North America in the field of cell therapy and movement disorders to obtain feedback and guidance for the IND submission in 2014 for our stem cell-derived neural stem cells for the treatment of Parkinson's disease.Presented the results of the first primate study, carried out in collaboration with the Sanford Burnham Institute of Regenerative Medical, examining the benefits of implanting neural stem cells into primates with chemically-induced parkinsonian symptoms, at the American Neurological Association 2013 Annual Meeting.
ISCO is Commited To Parkinsons Disease Program!
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ISCO's Parkinson's disease program uses human parthenogenetic neural stem cells (hPNSC) which are a novel therapeutic cellular product derived from the company's proprietary histocompatible human pluripotent stem cells. hPNSC are self-renewing mulitpotent cells that are precursors for the major cells of the central nervous system. The ability of hPNSC to (i) differentiate into dopaminergic (DA) neurons and (ii) express neurotrophic factors such as glial derived neurotrophic factor (GDNF) and brain derived neurotrophic factor (BDNF) to protect the nigrostriatal system, offers a new opportunity for the treatment of Parkinson's disease, especially in cases where current small molecule approaches fail to adequately control the symptoms.
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? $3.00 Mill of obtained gross proceeds?through a public offering, to be used to fund R&D programs
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Simon Craw, ISCO's?Executive Vice President of Business Development, stated:?"In July we raised approximately $3 million, most of which came from a group of new investors new to ISCO. The capital will be used to fund our R&D programs, primarily our Parkinson's disease program where we intend to start a clinical trial in 2014."
