ROCKVILLE, Md., Nov. 13 /PRNewswire-FirstCall/ -- Neuralstem Inc. (Amex: CUR) today reported financial results for the three and nine months ended September 30, 2007.
For the third quarter of 2007, the company reported a net loss of $1,422,020, or $(0.05) per share, compared to $211,088, or $(0.01) per share, for the comparable 2006 period. Net loss attributable to common stockholders for the first nine months of 2007 was $4,169,103 or $(0.15) per share, compared to $1,844,738, or $(0.08) per share, for the comparable period in 2006.
Result of Operations for the Three Months ending September 30, 2006 and 2007
Revenues for the three months ended September 30, 2007 and 2006 were $45,733 and $150,071 respectively. These amounts include grant reimbursements of $15,733 and sales of our cells (tissue products) of $30,000 for the three months ending September 30, 2007. All revenue in 2006 was from grant reimbursements.
Research and development expenses for the three months ended September 30, 2007 and 2006 were $672,101 and $422,794, respectively. The increase in expenses in current period consists mainly of payroll and payroll related expenses, stock option expense, research supplies and costs incurred in connection with specific research grants.
General and administrative expenses for the three months ended
September 30, 2007 and 2006 were approximately $832,348, and $311,932,
respectively. The principal increase in expenses in 2007 versus 2006 is a
result of increased payroll, legal (both patent and corporate), Stock based
|SOURCE Neuralstem Inc.|
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