In April, Neuralstem received notice of allowance for patent application 12/404,841, which covers methods of treatment of ALS with expanded spinal cord stem cells, including NSI-566.
First Quarter Financial ResultsFor the first quarter of 2013, the Company reported a net loss of approximately $3,590,000 or $0.05 per share, compared with a net loss of approximately $2,453,000 or $0.05 per share, for the comparable 2012 period. The increase in net loss was primarily due to a non-cash charge of approximately $667,000 related to the modification of certain stock purchase warrants coupled with an approximately $125,000 increase in project and lab expenses related to ramping up of our clinical trial and research efforts and an increase in non-cash stock based compensation expense of approximately $107,000. In addition, in the first quarter of 2013, the Company recognized approximately $103,000 in revenue from third party licensing of certain intellectual properties.
Total cash and cash equivalents on hand at March 31, 2013 totaled approximately $12,659,000 compared to approximately $7,444,000 at December 31, 2012. The increase in our cash and cash equivalents of approximately $5,215,000 was primarily due to proceeds from our debt financing transaction completed in the first quarter partially offset by cash used in our operations.
Neuralstem's patented technology enables the ability to produce neural stem cells of the human brain and spinal cord in commercial quantities, and the ability to control the differentiation of these cells constitutively into mature, physiologically relevant human neurons and glia. Neuralstem completed an FDA-approved Phase I safety clinical trial for amyotro
|SOURCE Neuralstem, Inc.|
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