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Neuralstem (AMEX: CUR) Q2/11 Results

A net loss of $3.64M or $0.08 per share

Revenue was 0, R&A was $2.08M, G&A was $1.52M, and depreciation was % 9.9K. Total operating expenses (and loss) were $3.66M. Non-operating income (expense) was $20K.The net loss was $3.64M and $0.08 based on 48.4M basic and diluted shares. For Q2/11, CUR reported an operating loss of $3.66M,. The decreased operating loss was due to a planned pause in the ALS clinical trial in Q2/11 pending a review by Safety Monitoring Board after the 1st 12 patients, decreased research spending relating to beginning of clinical trial, reductions in legal fees, and a $271K decrease in stock based compensation expense. These reductions were partially offset by a $125K increase in personnel costs due to higher headcount.

For the six months ended June 30, 2011: AMEX: CUR reported a net loss of $6.75M or $0.14 per share, compared with a net loss of $11.7M or $0.29 per share a year ago.  The reduction in the net loss was due to $3.9M of derivative warrant 6.14Maccounting charges; costs related to starting our ALS clinical trials and the preparation of an  FDA application to begin clinical trials for NSI-189 neurogenic compound in the 1st ½ of 2010.  Cash used in operating activities totaled $4.5M, a decrease of $378K or 8% compared to the same period in the prior year. The 3.64M or $0reduction in cash used was much smaller than the decrease in the net loss for the 6 months of $4.96M because $4.5M of the expense reductions were non-cash related. Non-cash expense reductions included derivative warrant accounting charges and stock based compensation expense.  

  • Cash, cash equivalents and short-term marketable securities at 6/30/11 totaled $6.14M