StemCells Inc. Announces First Quarter 2006 Financial Results

PALO ALTO, Calif.--(BUSINESS WIRE)--April 28, 2006--StemCells, Inc. (NASDAQ: STEM - News) today reported its financial results for the first quarter ended March 31, 2006. The Company reported a net loss of approximately $4,193,000, or $0.06 per share, for the first quarter ended March 31, 2006, compared to a net loss of $3,449,000, or $0.06 per share, for the first quarter of 2005. The increase in net loss in 2006 compared to 2005 was primarily attributable to increased research and development expenses resulting from increased head count and expanded operations in cell processing and clinical development. In addition, the Company adopted Statement of Financial Accounting Standards 123R effective January 1, 2006 and recognized approximately $388,000 in compensation expense related to qualified stock option grants in the first quarter of 2006; no such expense was recognized in 2005.
MORE ON THIS TOPIC