US Stem Cell Inc (OTCMKTS:USRM) shares were down 17.72% to $0.0130 on Friday as traders booked profits off the post-earnings rallies. The company has a market cap of $156,219.00 at 14.45 million shares outstanding.
US Stem Cell Inc is a biotechnology company that focuses on the discovery, development and, subject to regulatory approval, commercialization of autologous cell therapies for the treatment of chronic and acute heart damage. Formerly known as Bioheart Inc, US Stem Cell has a clinical therapy offering called Myocell that designed to populate regions of scar tissue within a patient’s heart with autologous muscle cells, or cells from a patient’s body, for the purpose of improving cardiac function in chronic heart failure patients. Another one of its clinical therapy products is AdipoCell, which is a cell therapy with multiple possible treatment applications using autologous adipose cells.
Earlier in the month, the company printed its earnings for the second quarter of the year, reporting a 20% increase in revenue to $678,000 from $565,000 in the same period a year ago. Current liabilities were down $2.7 million or 33% from $8.2M in the second quarter of 2015 to $5.7M in Q2 2016.
US Stem Cell, Inc. continues to improve in its quarter-over-quarter P&L and balance sheet performance. Our mission to make a real and positive impact in the lives of the patients we are treating fuels our excitement for the future,” remarked CEO and President Mike Tomas. “This passion moves us to continue to work hard to strengthen the health of our business and expand our care to more patients in need.”
He added that US Stem Cell inc has become a world leader in the research of new treatments for patients with degenerative conditions. With their physician partners, they have jointly developed more than 30 protocols for their care. The company’s gross argin improved from 41% in 2015 to 62% in 2016 while its net loss shrank 46% from $480K in Q2 2015 to $259K in Q2 2016.
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