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Advanced Cell Technology Announces 2011 First Quarter Results
Date:5/9/2011

MARLBOROUGH, Mass., May 9, 2011 /PRNewswire/ -- Advanced Cell Technology, Inc. ("ACT"; OTCBB: ACTC), a leader in the field of regenerative medicine, announced today first quarter financial results for the period ended March 31, 2011. The Company reported a loss from operations of $(4.8) million compared to a loss from operations of $(15.0) million in the 2010 first quarter.  ACT reported a net loss of $(3.3) million or $(0.00) per share, compared to a loss in the same period in 2010 of $(17.8) million, or $(0.03) per share.

Net cash used in operations for the 2011 first quarter was $3.4 million, compared to net cash used in operations of $2.9 million in the same period in 2010. The Company ended the 2011 first quarter with cash and cash equivalents of $13.7 million, compared to $15.9 million as of December 31, 2010.

"During the first quarter of this year, ACT made significant progress in securing sites to conduct our Phase 1/2 clinical trials for Stargardt's Macular Dystrophy (SMD) and Dry Age-Related Macular Degeneration (Dry AMD), as reflected by our recent announcement that the Jules Stein Eye Institute at the University of California, Los Angeles (UCLA) has received institutional review board (IRB) approval to be a site for both the SMD and AMD trials using retinal pigment epithelial (RPE) cells derived from human embryonic stem cells (hESCs)," said Gary Rabin, interim Chairman and CEO of ACT.  "We also recently filed a clinical trial application with the European Medicines and Healthcare products Regulatory Agency (MHRA) seeking clearance to initiate a similar SMD trial in Europe. We believe that these trials represent excellent opportunities to evaluate the potential for RPE cells to repair and regenerate the retina."

"While we are excited about the scientific potential for our RPE platform, we also believe that our strong balance sheet and access to capital positions us well to negotiate strategic partnerships or licensing ag
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SOURCE Advanced Cell Technology, Inc.
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