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Cellular Biomedicine Group Reports Second Quarter and First Half 2013 Financial Results and Business Highlights
Date:8/16/2013

were $(307,837), compared to $1,301 for the same period a year ago.

As of June 30, 2013, the company had $2.1 million in cash and cash equivalents. For the six months ended June 30, 2013 and the twelve months ended December 31, 2012, cash used for operations was $4.6 million and $2.0 million, respectively.

Business Highlights

During and since the second quarter of 2013, the company has:

  • Completed the enrollment required for its Phase I trial to evaluate the safety and preliminary efficacy of the medical technology haMPC (Human Adipose-derived Mesenchymal Progenitor Cells) therapy for Knee Osteoarthritis (KOA)
  • Achieved half of the enrollment of the total projected enrollment required for its Phase I trial to evaluate the safety and preliminary efficacy of TC-DC (Tumor Stem Cell Specific Dendritic Cell) therapy for hepatocellular carcinoma (HCC)
  • Appointed orthopedic surgeon Maxwell Wang, M.D., PhD, as Director of Medical Research
  • Raised $3.0 million in working capital through the issuance of its common stock in July 2013.

"We have accomplished much in the past quarter," said Chairman and CEO Dr. Steve Liu. "The completion and near-completion of enrollment for our KOA and liver cancer trials, respectively, are important achievements. We are very encouraged that the interim data from each trial continues to support the strong safety profile of the therapies, and believe that the efficacy of these therapies combined with our international compliance will position us to become a leading translational cellular medicine platform in China."

About Cellular Biomedicine Group
Cellular Biomedicine Group, Inc. develops proprietary cell therapies for the treatment of certain degenerative diseases and cancers.  Our developmental stem cell, progenitor cell, a
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SOURCE Cellular Biomedicine Group
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