Revenue was $9K minus the cost of goods of $2K. R&D expenses were $4.37M versus $2.84M for the same period a year ago. The increase in R&D expenses was primarily attributable to advanced preparation related to the P3 clinical program for ixmyelocel-T, including increased employee costs, clinical site identification and set-up, as well as regulatory expenses. G&A expenses were $1.89M compared to $1.4M for the same period a year ago. The increase in G&A expenses is primarily due to expenses associated with the previously announced restatement of the historical financial results, as well as consulting and employee-related expenses. ASTM had other income of $1.3M compared to $1.6M for the same period a year ago. The majority of this income for both quarters relates to non-cash changes in the fair value of outstanding warrants. The change in the fair value of the warrants was primarily due to fluctuations in the market value of common stock during these periods. Net loss for the quarter ended 3/31/11, was $5M, or $0.13 per share, compared to a net loss of $2.7M or $0.10 per share, for the same period a year ago. At 3/31/11, ASTM had 38.6M (basic and diluted) shares outstanding.
- As of 3/31/11, ASTM had $24.6M in cash and cash equivalents.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.