U.S. Stem Cell, Inc. Announces Earnings Results for the Second Quarter and Six Months Ending June 30, 2018
August 09, 2018 at 02:00 am IST
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U.S. Stem Cell, Inc. announced earnings results for the second quarter and six months ending June 30, 2018. The company posted a revenue increase of 31% to $1.82 million, up from $1.39 million for the second quarter of last year. Profit margin for the second quarter also increased, to 69% from 67% for the same period last year. Gross profit increased by 34% to $1.25 million from $934,000 for the second quarter of prior year.
Revenue also increased for the six months ended June 30, 2018, to $3.53 million, up 39% from $2.54 million for the same period last year. Profit margin for the first six months of this year increased to 70% from 68% in the first six months of 2017. Gross profit increased by 43% to $2.46 million from $1.73 million for the six-month period.
U.S. Stem Cell, Inc. is a biotechnology company. The Company is focused on the discovery, development and subject to regulatory approval and commercialization of autologous cell therapies for the treatment of chronic and acute heart damage. The Company's product candidates are MyoCell, MyoCell SDF-1 and Adipocell. MyoCell and MyoCell SDF-1 product candidates are clinical therapies 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. MyoCell SDF-1 is similar to MyoCell except that the myoblast cells to be injected for use in MyoCell SDF-1 will be modified prior to injection by an adenovirus vector or non-viral vector. Adipocell product candidate is a cell therapy kit with multiple possible treatment applications using autologous adipose cells. It is also investigating the use of adipose cells in a variety of clinical applications.
U.S. STEM CELL, INC. 
