International Stem Cell Corporation Announces 2024 Fourth Quarter and Year-End Results
International Stem Cell (ISCO) has released its financial results for Q4 and full-year 2024, showing significant improvements in key metrics. Revenue grew 17% to $9.09 million in 2024, up from $7.79 million in 2023. The company's subsidiaries, Lifeline Cell Technology and Lifeline Skin Care, reported a 29% increase in combined operating income to $2.39 million, compared to $1.85 million in 2023.
Notably, ISCO substantially reduced its loss from operations by 90% to $68,000 in 2024, down from $663,000 in 2023. The company continues to advance its ISC-hpNSC® program, with promising interim results in its Phase 1 clinical trial.
International Stem Cell (ISCO) ha pubblicato i suoi risultati finanziari per il quarto trimestre e per l'intero anno 2024, mostrando miglioramenti significativi in metriche chiave. Il fatturato è cresciuto del 17% raggiungendo i 9,09 milioni di dollari nel 2024, rispetto ai 7,79 milioni di dollari nel 2023. Le filiali dell'azienda, Lifeline Cell Technology e Lifeline Skin Care, hanno riportato un aumento del 29% del reddito operativo combinato, arrivando a 2,39 milioni di dollari, rispetto a 1,85 milioni di dollari nel 2023.
È importante notare che ISCO ha ridotto sostanzialmente la sua perdita operativa del 90%, scendendo a 68.000 dollari nel 2024, rispetto ai 663.000 dollari nel 2023. L'azienda continua a portare avanti il suo programma ISC-hpNSC®, con risultati intermedi promettenti nel suo studio clinico di Fase 1.
International Stem Cell (ISCO) ha publicado sus resultados financieros para el cuarto trimestre y el año completo 2024, mostrando mejoras significativas en métricas clave. Los ingresos crecieron un 17% alcanzando los 9,09 millones de dólares en 2024, frente a los 7,79 millones de dólares en 2023. Las subsidiarias de la empresa, Lifeline Cell Technology y Lifeline Skin Care, reportaron un aumento del 29% en el ingreso operativo combinado a 2,39 millones de dólares, en comparación con 1,85 millones de dólares en 2023.
Notablemente, ISCO redujo sustancialmente su pérdida operativa en un 90% a 68,000 dólares en 2024, bajando de 663,000 dólares en 2023. La empresa continúa avanzando en su programa ISC-hpNSC®, con resultados interinos prometedores en su ensayo clínico de Fase 1.
International Stem Cell (ISCO)는 2024년 4분기 및 전체 연도 재무 결과를 발표하며 주요 지표에서 상당한 개선을 보여주었습니다. 매출은 2024년에 17% 증가하여 909만 달러에 도달했으며, 2023년의 779만 달러에서 증가했습니다. 회사의 자회사인 Lifeline Cell Technology와 Lifeline Skin Care는 합산 운영 소득이 29% 증가하여 239만 달러에 이르렀으며, 이는 2023년의 185만 달러에 비해 증가한 수치입니다.
특히, ISCO는 운영 손실을 90% 줄여 2024년에는 68,000달러로 감소했으며, 이는 2023년의 663,000달러에서 크게 줄어든 것입니다. 회사는 ISC-hpNSC® 프로그램을 계속 진행하고 있으며, 1상 임상 시험에서 유망한 중간 결과를 보이고 있습니다.
International Stem Cell (ISCO) a publié ses résultats financiers pour le quatrième trimestre et l'année entière 2024, montrant des améliorations significatives dans des indicateurs clés. Les revenus ont augmenté de 17% pour atteindre 9,09 millions de dollars en 2024, contre 7,79 millions de dollars en 2023. Les filiales de l'entreprise, Lifeline Cell Technology et Lifeline Skin Care, ont signalé une augmentation de 29% du revenu opérationnel combiné à 2,39 millions de dollars, par rapport à 1,85 million de dollars en 2023.
Notamment, ISCO a considérablement réduit sa perte d'exploitation de 90% à 68 000 dollars en 2024, contre 663 000 dollars en 2023. L'entreprise continue de faire progresser son programme ISC-hpNSC®, avec des résultats intermédiaires prometteurs dans son essai clinique de phase 1.
International Stem Cell (ISCO) hat seine Finanzzahlen für das vierte Quartal und das Gesamtjahr 2024 veröffentlicht, die signifikante Verbesserungen in wichtigen Kennzahlen zeigen. Der Umsatz stieg um 17% auf 9,09 Millionen Dollar im Jahr 2024, verglichen mit 7,79 Millionen Dollar im Jahr 2023. Die Tochtergesellschaften des Unternehmens, Lifeline Cell Technology und Lifeline Skin Care, berichteten von einem 29%igen Anstieg des kombinierten Betriebsergebnisses auf 2,39 Millionen Dollar, im Vergleich zu 1,85 Millionen Dollar im Jahr 2023.
Bemerkenswert ist, dass ISCO seine Betriebsverluste um 90% auf 68.000 Dollar im Jahr 2024 erheblich reduziert hat, nach 663.000 Dollar im Jahr 2023. Das Unternehmen setzt weiterhin sein ISC-hpNSC®-Programm voran, mit vielversprechenden vorläufigen Ergebnissen in seiner klinischen Phase-1-Studie.
- Revenue increased 17% YoY to $9.09M
- Combined operating income from subsidiaries up 29% to $2.39M
- Operating losses reduced 90% to $68,000
- Company still operating at a loss (-$68,000)
SAN DIEGO, CA / ACCESS Newswire / March 31, 2025 / 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, 2024.
FY 2024 Financial Highlights:
Revenues increased to
$9.09 million in 2024, an increase of17% compared to$7.79 million in 2023.Combined operating income for the year ended December 31, 2024, from our two wholly owned subsidiaries, Lifeline Cell Technology and Lifeline Skin Care, increased to
$2.39 million , an increase of29% , compared to$1.85 million in 2023.Loss from operations decreased to
$68,000 for the year ended December 31, 2024, a decrease of90% , compared to$663,000 in 2023.
"2024 has been a successful year for International Stem Cell Corporation, marked by both strong financial performance and continued progress in our clinical trial. Our revenue growth, coupled with a significant reduction in operational losses, underscores the strength of our business model and the demand for our biomedical products. At the same time, we remain committed to advancing our pioneering ISC-hpNSC® program, building upon the promising interim results observed in our Phase 1 clinical trial. Looking ahead, we are focused on leveraging these achievements to drive further growth, accelerate our research, and enhance value for our shareholders," stated Andrey Semechkin, Ph.D., CEO and Co-Chairman of ISCO.
About International Stem Cell Corporation
International Stem Cell Corporation is focused on the therapeutic applications of human parthenogenetic stem cells (hpSCs) and the development and commercialization of cell-based research and cosmetic products. ISCO's core technology, parthenogenesis, results in the creation of pluripotent human stem cells from unfertilized oocytes (eggs). hpSCs avoid ethical issues associated with the use or destruction of viable human embryos. ISCO scientists have created the first parthenogenetic, homozygous stem cell line that can be a source of therapeutic cells for hundreds of millions of individuals of differing genders, ages and racial background with minimal immune rejection after transplantation. hpSCs offer the potential to create the first true stem cell bank, UniStemCell™. ISCO also produces and markets specialized cells and growth media for therapeutic research worldwide through its subsidiary Lifeline Cell Technology (www.lifelinecelltech.com), and stem cell-based skin care products through its subsidiary Lifeline Skin Care (www.lifelineskincare.com).
For more information, please visit http://internationalstemcell.com/ or contact: ir@intlstemcell.com
To subscribe to receive ongoing corporate communications, please click on the following link: http://www.b2i.us/irpass.asp?BzID=1468&to=ea&s=0
To like our Facebook page or follow us on Twitter for company updates and industry related news, visit: www.facebook.com/InternationalStemCellCorporation and www.twitter.com/intlstemcell
Safe harbor statement
Statements pertaining to anticipated developments and company achievements, expected clinical studies (including results and ongoing evaluation of the phase 1 clinical trial), and other opportunities for the company and its subsidiaries, along with other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements. Any statements that are not historical fact (including, but not limited to statements that contain words such as "will," "believes," "plans," "anticipates," "expects," "estimates,") should also be considered to be forward-looking statements. Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in the development and/or commercialization of potential products, regulatory approvals, need and ability to obtain capital, application of capital resources among competing uses, and maintenance of intellectual property rights. Actual results may differ materially from the results anticipated in these forward-looking statements and as such should be evaluated together with the many uncertainties that affect the Company's business, particularly those mentioned in the cautionary statements found in the Company's Securities and Exchange Commission filings. The Company disclaims any intent or obligation to update forward-looking statements.
International Stem Cell Corporation and Subsidiaries
Consolidated Balance Sheets
(In thousands, except share and par value data)
| December 31, |
| ||||||
| 2024 |
|
| 2023 |
| |||
Assets |
|
|
|
|
|
| ||
Current assets: |
|
|
|
|
|
| ||
Cash |
| $ | 1,230 |
|
| $ | 1,588 |
|
Accounts receivable, net |
|
| 1,058 |
|
|
| 574 |
|
Inventories |
|
| 1,149 |
|
|
| 1,263 |
|
Prepaid expenses and other current assets |
|
| 123 |
|
|
| 96 |
|
Total current assets |
|
| 3,560 |
|
|
| 3,521 |
|
Non-current inventories |
|
| 252 |
|
|
| 266 |
|
Property and equipment, net |
|
| 257 |
|
|
| 215 |
|
Intangible assets, net |
|
| 721 |
|
|
| 800 |
|
Right-of-use assets |
|
| 352 |
|
|
| 557 |
|
Deposits and other assets |
|
| 31 |
|
|
| 31 |
|
Total assets |
| $ | 5,173 |
|
| $ | 5,390 |
|
Liabilities, Redeemable Convertible Preferred Stock and Stockholders' Deficit |
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
Accounts payable |
| $ | 186 |
|
| $ | 364 |
|
Accrued liabilities |
|
| 527 |
|
|
| 485 |
|
Operating lease liabilities, current |
|
| 330 |
|
|
| 276 |
|
Advances |
|
| 250 |
|
|
| 250 |
|
Related party note payable |
|
| 3,395 |
|
|
| 3,457 |
|
Total current liabilities |
|
| 4,688 |
|
|
| 4,832 |
|
Operating lease liabilities, net of current portion |
|
| 115 |
|
|
| 445 |
|
Total liabilities |
|
| 4,803 |
|
|
| 5,277 |
|
Commitments and contingencies (Note 11) |
|
|
|
|
|
|
|
|
Series D redeemable convertible preferred stock, 43 shares issued and outstanding; liquidation preference of 2024 and 2023 |
|
| 4,300 |
|
|
| 4,300 |
|
Stockholders' Deficit: |
|
|
|
|
|
|
|
|
Non-redeemable convertible preferred stock, 10,004,310 shares authorized; 5,254,310 and 5,254,310 shares issued and outstanding; liquidation preference of 2023, respectively |
|
| 5 |
|
|
| 5 |
|
Common stock, shares issued and outstanding at December 31, 2024 and 2023 |
|
| 8 |
|
|
| 8 |
|
Additional paid-in capital |
|
| 106,742 |
|
|
| 106,276 |
|
Accumulated deficit |
|
| (110,685 | ) |
|
| (110,476 | ) |
Total stockholders' deficit |
|
| (3,930 | ) |
|
| (4,187 | ) |
Total liabilities, redeemable convertible preferred stock and stockholders' deficit |
| $ | 5,173 |
|
| $ | 5,390 |
|
International Stem Cell Corporation and Subsidiaries
Consolidated Statements of Operations
(In thousands, except share and per share data)
| Year Ended December 31, |
| ||||||
| 2024 |
|
| 2023 |
| |||
Product sales |
| $ | 9,085 |
|
| $ | 7,789 |
|
Operating expenses: |
|
|
|
|
|
|
|
|
Cost of sales |
|
| 3,764 |
|
|
| 3,181 |
|
General and administrative |
|
| 3,516 |
|
|
| 3,514 |
|
Selling and marketing |
|
| 1,216 |
|
|
| 1,246 |
|
Research and development |
|
| 657 |
|
|
| 511 |
|
Total operating expenses |
|
| 9,153 |
|
|
| 8,452 |
|
Loss from operations |
|
| (68 | ) |
|
| (663 | ) |
Other income (expense): |
|
|
|
|
|
|
|
|
Employee retention credit |
|
| - |
|
|
| 663 |
|
Interest expense |
|
| (145 | ) |
|
| (139 | ) |
Other income, net |
|
| 4 |
|
|
| 8 |
|
Total other (expense) income, net |
|
| (141 | ) |
|
| 532 |
|
Net loss |
|
| (209 | ) |
|
| (131 | ) |
Net loss per common share, basic and diluted |
| $ | (0.03 | ) |
| $ | (0.02 | ) |
Weighted-average common shares used to compute net loss per share, basic and diluted |
|
| 8,004,389 |
|
|
| 8,004,389 |
|
Contacts:
International Stem Cell Corporation
Russell A. Kern, PhD, Executive VP
Phone: 760-940-6383
Email: ir@intlstemcell.com
SOURCE: International Stem Cell Corporation
View the original press release on ACCESS Newswire
FAQ
What was ISCO's revenue growth in 2024?
How much did ISCO reduce its operational losses in 2024?
What was the combined operating income from ISCO's subsidiaries in 2024?
How is ISCO's clinical trial program progressing in 2024?
