PALO ALTO, Calif.--(BUSINESS WIRE)--StemCells, Inc. (NASDAQ:STEM) today reported its financial results for the second quarter ended June 30, 2007.
The Company reported a net loss of $5,424,000, or $0.07 per share, for the second quarter of 2007, compared with a net loss of $3,989,000, or $0.05 per share, for the second quarter of 2006. The increased net loss for the 2007 quarter was primarily attributable to an increase in operating expenses due to the expansion of the Company's operations in cell manufacturing and clinical operations. Net cash used in operating activities for the second quarter 2007 was $4,854,000, compared with $3,606,000 for the second quarter of 2006.
