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Neuralstem Announces 2012 Financial Results, Provides Clinical Trials Update
Date:3/15/2013

nai Medical Center the non-exclusive right to use the licensed intellectual property in academic research. This is the second group of licenses announced by Neuralstem for these technologies and medical devices.

Results of Operations for the Year Ended December 31, 2012:

  • In the year ended December 31, 2012, the Company reported a net loss of approximately $10,122,000 or $0.17 per share, compared to a loss of approximately 12,519,000 or $0.26 per share for the year ended December 31, 2011. The decrease in net loss was primarily due to a decrease in non-cash stock based compensation expense of approximately $1,723,000 coupled with a decrease of approximately $450,000 in project related expenses related to studies which ended in 2011 and an approximately $790,000 reduction in legal expenses partially offset by gains related to a legal settlement and changes in the fair value of certain warrant obligations in 2011.
  • In 2012, the Company recognized revenue of approximately $234,000 related to its DOD contract which was completed in the second quarter of 2012 compared to revenue of approximately $391,000 in 2011. The Company also recognized revenue of approximately $173,000 related to the licensing of certain intellectual property to third parties in 2012.
  • Total cash and cash equivalents was approximately $7,444,000 at December 31, 2012, compared with approximately $2,352,000 at December 31, 2011.
    The increase in our cash and cash equivalents of approximately $5,092,000 was primarily due to proceeds from our capital market activities during 2012 partially offset by cash used to fund our operations.
  •  Neuralstem, Inc.Balance SheetsDecember 31, 20122011ASSETSCURRENT ASSETSCash and cash equivalents

    $
    7,443,773$
    2,352,013Prepaid expenses

    205,651430,356Billed and unbilled receivables

    3,333234,375Total current assets7,652,7573,016,744Property and equipment, net

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    SOURCE Neuralstem, Inc.
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