Showing posts with label human stem cell bank. Show all posts
Showing posts with label human stem cell bank. Show all posts

Tuesday, October 11, 2011

International Stem Cell Corporation's Ken Aldrich Comments on Recent News about SCNT - Somatic Cell Nuclear Transfer

Last week's newspapers carried the news of what was widely described as a significant “breakthrough” in stem cell science: the first successful human use of a technology known as Somatic Cell Nuclear Transfer (also referred to as SCNT).  This is essentially a variation on a process that was used some years ago to create a cloned sheep named Dolly.  Cloning has since been used commercially in various animal applications.

What is strange about the flurry of publicity about this discovery, however, is the almost total lack of commentary about a method of creating stem cells that has been available to researchers for almost half a decade, holds the same kind of promise as embryonic stem cells for providing cells for the treatment of almost any kind of degenerative disease, is free of ethical issues (including issues with egg donation), and can potentially make immune matched cells available to any patient anywhere in the world, on demand, at a far lower cost.

I am talking about human stem cells derived from a process called, “Parthenogenesis”, developed and first announced in 2007 by a company called International Stem Cell Corporation, whose discoveries were first published in the peer reviewed journal, Cloning and Stem Cells, edited by the scientist who first created “Dolly”, the first cloned animal. 

I realize that I could be accused of bias because I am one of the founders of International Stem Cell, but, in fact, our company also owns license rights to some of the key intellectual property that is required to create cells through SCNT technology and our scientists are very familiar with its promise and its limitations. As a result, International Stem Cell will benefit from the development of either technology, but it is important that the public and the scientific community be fully aware of all alternatives in the field of regenerative medicine, not just the ones that capture public imagination at any particular time.

For that reason, I would like to comment on Parthenogenesis and compare it to SCNT technology and the other options available today. The technology known as "Parthenogenesis" begins with human eggs that are created and used every day throughout the world for in-vitro fertilization (IVF). What is not generally known is that the IVF process can often result in the creation of far more unfertilized eggs than will ever be needed for fertility purposes. It is possible, with informed consent from the IVF patient, to hold back some unfertilized eggs for creation of parthenogenetic stem cells, all at no additional risk to the donor. 

Instead of wasting those eggs, what International Stem Cell does, with the full consent of the donors, is to save those eggs from the trash bin, induce them through a simple, but patented, process to create the small cluster of cells from which a stem cell line can be created that can be used for scientific research and the eventual treatment of patients with such diseases as Parkinson’s, Macular Degeneration, Liver Disease, Diabetes, and possibly many others.

What are critical to understand in thinking about Parthenogenetic stem cells are six things:
Like embryonic stem cells and SCNT cells, these cells can be converted into almost any cell in the human body and thus have enormous potential for human therapy.

Unlike embryonic stem cells, the human eggs used to create parthenogenetic stem cells are never fertilized and cannot become a human being. No viable embryo is ever harmed or destroyed.

Unlike SCNT cells, parthenogenetic stem cells require no genetic manipulation or insertion of foreign DNA.

No donor is every subjected to any additional physical risk beyond what she has already agreed to as part of the IVF procedure in which she elected to participate. In fact, all egg donors voluntarily participate through a very transparent, peer-reviewed, and medically supervised process.  Protocols are approved by Independent Review Boards (IRBs) to protect the safety of donors and by an independent Stem Cell Research Oversight (SCRO) committee to insure compliance with state laws and research ethics, regulations established by the U.S. Food and Drug Administration (FDA) and the U.S. Department of Health and Human Services (HHS) Office for Human Research Protections, in addition to state-level requirements.

The cell lines that are produced from this method, unlike cell lines from embryonic stem cells or from SCNT, can potentially be matched to millions of people in the same way that an organ transplant is matched between donor and patient. In fact, by some estimates, as few as 100 parthenogenetic stem cell lines could provide immune-matched cells to over 50 percent of the world’s population, and could accelerate disease therapies and treatments for severe chronic conditions, including diabetes, spinal cord injuries, liver diseases, blinding diseases such as macular degeneration, and neural diseases such as Parkinson’s and Alzheimer’s.

The possibility of immune-matching to millions of persons can vastly reduce the potential costs relative to SCNT or embryonic stem cell technology, which create stem cell lines that can match only a few persons.

In summary, what we find particularly exciting about Parthenogenesis is that it addresses all the major issues of stem cell therapy. It is free from the traditional bioethical issues that have clouded federal policies towards stem cell research because parthenotes are derived from unfertilized eggs and cannot develop into human beings.  Parthenogenesis is not cloning, and it does not involve the creation or destruction of a viable human life.  Also, the creation of a parthenogenetic stem cell bank will not require a large number of human eggs and many individual donors, as has been a fear surrounding other stem cell approaches.  Parthenogenesis is at once effective and efficient, and one line of parthenogenetic stem cells can be used to create treatments for millions of persons.  This is not a situation where one line must be made for each patient treated.

To learn more about Parthenogenesis, visit www.internationalstemcell.com, or click on ISCO.OB at any financial web site for information about our company.

Thursday, October 6, 2011

International Stem Cell Names Dr. Andrey Semechkin as Co-Chairman and Kurt May as President and Chief Operating Officer

International Stem Cell Corporation (OTCBB:ISCO) today announced that its Board of Directors designated Dr. Andrey Semechkin, the Company's Chief Executive Officer, as a Co-Chairman with the Company's founder, Kenneth Aldrich, and also named Kurt May as President and Chief Operating Officer, effective immediately. Mr. May is currently Senior Vice President and this represents both a promotion and the delegation of additional duties and responsibilities consistent with his increasingly important role in the future of ISCO.

Dr. Semechkin commented, "Kurt May is an extremely capable executive who has managed both a multi-billion dollar public company and a successful life sciences startup company. His willingness to assume operational responsibilities for ISCO will allow me, as CEO, to focus more intently on scientific and strategic initiatives that are central to developing ISCO into a major force in the world of stem cell therapy. Working together with the fine team of executives and scientists already within ISCO, I have high hopes and confidence we can reach that goal."

Prior to joining ISCO, Mr. May was a senior executive with GTE Corporation and with PriceSmart, Inc., and the founder and CEO of a privately owned biotech company, Psynomics, based on medical technology derived from the University of California, San Diego. Mr. May served as a faculty member and Assistant Dean of UCSD's Rady School of Management from 2005 to 2009.

During his tenure as PriceSmart's Chief Operating Officer, Mr. May led the company from startup to growth over three years that included establishing 22 stores in 11 countries, reaching annual revenues of more than $500 million, achieving profitability, and expanding staff from 356 to more than 4,200.

"In addition to its therapeutic programs, ISCO is dedicated to building its revenue-generating subsidiaries to high levels of profitability. We view Mr. May's commercial and entrepreneurial skills as an essential part of our business plan for success," said Kenneth Aldrich, Co-Founder and Co-Chairman of ISCO.

About International Stem Cell Corporation
International Stem Cell Corporation is focused on the therapeutic applications of human parthenogenetic stem cells (hpSCs) and the development and commercialization of cell-based research and cosmetic products. ISCO's core technology, parthenogenesis, results in the creation of pluripotent human stem cells from unfertilized oocytes (eggs). hpSCs avoid ethical issues associated with the use or destruction of viable human embryos. ISCO scientists have created the first parthenogenic, homozygous stem cell line that can be a source of therapeutic cells for hundreds of millions of individuals of differing genders, ages and racial background with minimal immune rejection after transplantation. hpSCs offer the potential to create the first true stem cell bank, UniStemCell™. ISCO also produces and markets specialized cells and growth media for therapeutic research worldwide through its subsidiary Lifeline Cell Technology, and cell-based skin care products through its subsidiary Lifeline Skin Care. More information is available at www.internationalstemcell.com.

To subscribe to receive ongoing corporate communications, please click on the following link:http://www.b2i.us/irpass.asp?BzID=1468&to=ea&s=0.

Forward-looking Statements
Statements pertaining to anticipated developments, and other opportunities for the company and its subsidiaries, along with other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements. Any statements that are not historical fact (including, but not limited to statements that contain words such as "will," "believes," "plans," "anticipates," "expects," "estimates,") should also be considered to be forward-looking statements. Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in the development and/or commercialization of potential products and the management of collaborations, regulatory approvals, need and ability to obtain future capital, application of capital resources among competing uses, and maintenance of intellectual property rights. Actual results may differ materially from the results anticipated in these forward-looking statements and as such should be evaluated together with the many uncertainties that affect the company's business, particularly those mentioned in the cautionary statements found in the company's Securities and Exchange Commission filings. The company disclaims any intent or obligation to update forward-looking statements.
http://cts.businesswire.com/ct/CT?id=bwnews&sty=20111006005285r1&sid=14230&distro=ftp
International Stem Cell Corporation

Kenneth C. Aldrich, Co-Chairman
760-940-6383
kaldrich@intlstemcell.com
or
Lippert/Heilshorn & Associates
Don Markley, 310-691-7100
dmarkley@lhai.com

Monday, September 12, 2011

International Stem Cell Corporate (ISCO.OB) Produced by Big Sky Productions - 9 Minute Version

Ken Aldrich of International Stem Cell Corporation (ISCO.OB) on the latest research involving stem cell technology utilizing unfertilized eggs, as a basis for cell generation with a goal toward organ transplants which are immune to rejection by the body...as well as other applications. Mr. Aldrich also discusses neurological applications focusing on reversing Parkinson's disease.

This corporate video was produced by Big Sky Productions Inc. (BGSI.OB).
Executive Producer, Ellis Martin.
Producer and Creative Director, Narrator, Editor: Bob Lange

Thursday, September 8, 2011

ChartPoppers.com Interviews Kenneth Aldrich, CEO of International Stem Cell Corp. (OTCBB:ISCO)


Chartpoppers.com - The #1 rated Penny Stocks Newsletter for Penny Stock Tips, Stock Market information, Penny Stock Picks, Trading Articles, and Day Trading.

ChartPoppers.com is pleased to announce the availability of an exclusive audio interview with Kenneth Aldrich of International Stem Cell Corporation


Please click here to listen to the complete interview.


Ellis Martin Report with International Stem Cell Corporation's Senior VP Kurt May

In this interview Ellis Martin speaks with Kurt May, Senior Vice-President of International Stem Cell Corporation (ISCO.OB). Mr. May discusses his role with the company and their unique development of the parthenogenic stem cell derived from unfertilized embryonic eggs.  He oversees the growth of the company's LIfeline Stem Cell and Lifeline Skin Care revenue generating divisions. The question of immune rejection is overcome with their proprietary technology.

Listen to learn more. http:://www.intlstemcell.com http::/www.ellismartinrepot.com 
Contact: martinreports@gmail.com
International Stem Cell Corp is a paid sponsor of The Ellis Martin Report

Wednesday, September 7, 2011

International Stem Cell to Present at the Rodman & Renshaw Annual Global Investment Conference on September 12

International Stem Cell Corporation (OTCBB: ISCO) announced today that Kenneth Aldrich, Chairman, is scheduled to present at the Rodman & Renshaw Annual Global Investment Conference on Monday, September 12, 2011 at 11:40 a.m. Eastern (8:40 a.m. Pacific). The conference takes place at the Waldorf Astoria Hotel in New York City.

A webcast of the International Stem Cell Corporation presentation can be viewed live at http://www.wsw.com/webcast/rrshq20/isco. The presentation will be archived and available at the same link for 90 days. After the conference, a link to the presentation will also be posted to the ISCO website, www.intlstemcell.com.

About International Stem Cell Corporation

International Stem Cell Corporation is focused on the therapeutic applications of human parthenogenetic stem cells (hpSCs) and the development and commercialization of cell-based research and cosmetic products. ISCO's core technology, parthenogenesis, results in the creation of pluripotent human stem cells from unfertilized oocytes (eggs). hpSCs avoid ethical issues associated with the use or destruction of viable human embryos. ISCO scientists have created the first parthenogenic, homozygous stem cell line that can be a source of therapeutic cells for hundreds of millions of individuals of differing genders, ages and racial background with minimal immune rejection after transplantation. hpSCs offer the potential to create the first true stem cell bank, UniStemCell™. ISCO also produces and markets specialized cells and growth media for therapeutic research worldwide through its subsidiary Lifeline Cell Technology, and cell-based skin care products through its subsidiary Lifeline Skin Care. More information is available at www.internationalstemcell.com.

To subscribe to receive ongoing corporate communications, please click on the following link: http://www.b2i.us/irpass.asp?BzID=1468&to=ea&s=0.

International Stem Cell Corporation
Kenneth C Aldrich, Chairman
760-940-6383
kaldrich@intlstemcell.com
or
Lippert/Heilshorn & Associates
Don Markley
310-691-7100
dmarkley@lhai.com

Tuesday, September 6, 2011

Video: The Promising Cells Presented by International Stem Cell Corporation

Ken Aldrich of International Stem Cell Corporation (ISCO.OB) on the latest research involving stem cell technology utilizing unfertilized eggs, as a basis for cell generation with a goal toward organ transplants which are immune to rejection by the body...as well as other applications. Mr. Aldrich also discusses neurological applications focusing on reversing Parkinson's disease.

This corporate video was produced by Big Sky Productions Inc. (BGSI.OB).
Executive Producer: Ellis Martin
Producer and Creative Director, Narrator, Editor: Bob Lange


Monday, August 29, 2011

Part 5: The Ellis Martin Report with Ken Aldrich of International Stem Cell Corporation (ISCO.OB)

In this interview, Ellis Martin speaks with Kenneth Aldrich of International Stem Cell Corporation (ISCO.OB) about continuing research and revenue generated by Lifeline Stem Cell technology, including Lifeline Skin Care Creams. Is International Stem Cell working on a cure for melanoma or cancer? Not directly, but the company believes that their technology is being used by their client companies doing research for these cures. Listen to the interview for full details. http://www.ellimartinreport.com  http://www.intlstemcell.com  contact:martinreports@gmail.com

International Stem Cell Corp is paid sponsor of The Ellis Martin Report. Forward looking statements may have been made in this interview.


Wednesday, August 24, 2011

Onemedplace.com Interview - "International Stem Cell Corp Develops Similar Embryonic Stem Cells Without Fertilized Embryos"


Ken Aldrich, Executive Chairman of International Stem Cell Corporation [OTC:ISCO] was interviewed by OneMedRadio where he discussed the company’s regenerative medicine therapies.

Brett Johnson:  Good day, this is Brett Johnson in New York City with OneMedRadio. Today, I am with Ken Aldrich. He is the co-founder and executive chairman for International Stem Cell, symbol ISCO on the bulletin board. It is a Carlsbad, California company in the stem cell business.  Ken, thanks for joining us today.

Kenneth Aldrich: Thank you. I appreciate the opportunity to speak with you.

BJ: Ken, go ahead and tell us a little bit about the business of International Stem Cell and what you guys are doing that’s unique and distinctive.

KA: I’d be happy to. International Stem Cell is in the regenerative medicine business broadly speaking. We produce and develop therapies that are based on what are called pluripotent stem cells. Pluripotent stem cell simply means a stem cell that can be converted  (the technical word is differentiated) into any cell in the body and theoretically treat any kind of disease that can be treated with cell therapy.

There are today basically only two ways to create a pluripotent stem cell. One is what’s been around for ten years called embryonic stem cells derived from a fertilized human embryo, and the other is parthenogenesis, which is our own creation, our own patent. Our people really developed it from the very beginning.

They function very much the same but we have two unique advantages. One, we take the ethical issue right off the table. We do not use a fertilized egg and we never damage or destroy anything that could become a human being. And second, the DNA that results when we go through that process of using only an unfertilized egg is a much simpler DNA structure. It’s complete, but simpler in its form. It enables us to use a single cell line from a single donor to match very large numbers of people. So it gives us the potential a few years down the road to have a true stem cell bank. And by that I don’t mean the banking of somebody’s own cells, but a bank much like a blood bank in which any patient who needs stem cells can come, get cells that will match their immune system and thereby eliminate or reduce the need for immunosuppressant drugs.

We think ultimately that’s going to be the single defining differentiator for our company because a cell transplant is like a miniature organ transplant. If the body rejects it, there’s no benefit, and we’re working on a way to provide cells that anyone can use at any time for any disease that any scientist is smart enough to figure out a way to treat with cells. It’s a tall order but we think we’re up to it.

To read the full text or listen to the interview, please visit onemedplace -http://www.onemedplace.com/blog/archives/9031

Monday, August 22, 2011

International Stem Cell Corp.: Mass Marketing Regenerative Medicine By Patrick Cox

We thought you might like to see a recent article published by Patrick Cox.  Patrick writes regular columns about microcap stocks, particularly in the biotech field. His columns can be subscribed to at http://breakthroughtechnologyalert.agorafinancial.com 

Click HERE to view in Full Screen 

Friday, August 19, 2011

International Stem Cell's Q2 Revenues Nearly Triple by Deborah Sterescu


International Stem Cell Corporation (ISCO) (OTCBB:ISCO) reported Wednesday that second quarter sales more than doubled to almost triple, while year-to-date sales jumped a whopping 271%, as the company's operating subsidiaries continue to generate more revenue.

In addition to its hugely potentially valuable stem cell therapy business, the company also two other operations that have reflected revenue growth in the meantime, including Lifeline Cell Technology, which sells its cell-culture products to researchers to grow human cells for pre-clinical research, and Lifeline Skin Care, which sells skin care products based on its parent's stem cell technology.

For the three months ending June 30, International Stem Cell saw revenues rise to $1.1 million, from $0.44 million a year earlier.

Year-to-date revenues totaled $2.6 million, versus $0.7 million for the same period in 2010, helped by a $1.7 million contribution from Lifeline Skin Care, and a $0.9 million addition from Lifeline Cell.

In the last quarter, Lifeline Cell gained over 200 new customers due to new product introductions and the development of distribution channels internationally, a strategy ISCO plans to continue.

Meanwhile, the company's skin care business is coming off a highly successful launch at the end of last year, exceeding its plans to sell 1,000 products, with 7,000 products sold initially. Lifeline Skin plans to aggressively kick start major marketing initiatives again in September.

While these two subsidiaries are busy chalking up revenues, ISCO, whose parthenogenetic stem cell technology can be used to derive pluripotent stem cells, meaning they can be transformed into any cell type in the body, has many important advantages at its fingertips.

Regenerative medicine is a market that is set to boom in the coming years, as more and more companies are developing therapies based on stem cell use. International Stem Cell's long-term goal is to be a universal supplier of stem cells for not just one, but a host of therapies.

The company's parthenogenetic stem cells are derived from unfertilized eggs, avoiding the ethical issues behind the destruction of viable human embryos. Like embryonic stem cells, they also have the capacity to become almost any cell type in the body, but have demonstrated they are better in terms of the immune system, as one single stem cell line can be genetically matched to millions of people, reducing the need for immunosuppressants.

Its plan is to establish a US bank of its clinical-grade human parthenogenetic stem cells that will be capable of being immune-matched to millions of patients, so that a physician could call up and request a specific cell type for people. The company, which recently received approvals to enroll around 3 US donors for its bank, already has a collection of ten human parthenogenetic stem cell lines used for research purposes, which were derived outside the US.

These cell lines could potentially be used to cure a number of diseases, including cancer, heart disease, liver disease, among many others. Already, the company has several trials in the works, and has successfully demonstrated in pre-clinical animal studies that its stem cells can be used to create viable liver cells. It has also started pre-clinical animal trials to create neuronal cells in the brain, to potentially cure Parkinson's disease.

Unsurprisingly, all this work to progress the company's technology has increased expenses, contributing to a $2.5 million loss in the second quarter, or a 3 cent loss per share.

Research and development costs grew on account of greater scientific projects, while general and administrative costs leapt on increased headcount as the company bulks up its management team.

International Stem Cell, with $3.6 million in the bank at the end of the quarter, said that it has not ruled out future capital raising, but it already has a facility that allows it to draw equity as necessary to secure its planned growth.

Wednesday, August 17, 2011

International Stem Cell Corporation Announces Second Quarter 2011 Financial Results and Corporate Events



International Stem Cell Corporation (OTCBB: ISCO), a biotechnology company that developed a powerful new stem cell technology called "parthenogenesis" which promises to significantly advance the field of regenerative medicine, today announced financial results for the quarter ended June 30, 2011 and for the first six months of the fiscal year and provided an update on corporate events.

ISCO reported year-to-date revenues of $2.6 million compared to $0.7 million for the same time period in 2010, representing an increase of 271%. The increase in our revenues relates to sales generated by ISCO's wholly-owned subsidiaries Lifeline Skin Care (LSC) which contributed $1.7 million and Lifeline Cell Technology (LCT) which contributed $0.9 million of revenues.

Total year-to-date expenses, excluding cost of sales increased $2.0 million or 38%, compared to the first six months of the previous year. The most significant reasons for the increase in total expenses related to increases in R&D and G&A. Research & Development expenses increased primarily due to increased activity on our scientific projects. General & Administrative expenses increased primarily due to increased headcount, non-cash stock-based compensation and increased expenses related to business development activity and general corporate expenses.
Our cash balance at June 30, 2011 was $3.6 million. Net cash used in operating activities for the six months ended June 30, 2011 was $3.0 million.

Second Quarter 2011 Highlights:
-- The first U.S.-based donor was enrolled in ISCO's program to establish a bank of clinical-grade human parthenogenetic stem cells (hpSCs) capable of being immune-matched to millions of patients.

-- We strengthened our senior management team to assist in the continued development of the Company. Kurt May was appointed Senior Vice President responsible for mergers and acquisitions and development of new international collaborations. Donna Queen was added to the management team as Vice President of LSC, where she is responsible for marketing and business development.

-- We started a series of preclinical animal studies of neuronal cells derived from hpSCs. The studies will evaluate the in vivo safety and tumorigenicity of neuronal cells as well as their ability to develop into functioning dopaminergic neuron–like cells to treat Parkinson's disease.

-- We successfully completed the first series of preclinical testing of hepatocytes derived from hpSCs. In the transplantation mouse model, inoculated cells were capable of engrafting and surviving in specific niches within the liver, and were further developing into cells with essential hepatocyte-like features.

About International Stem Cell Corporation
International Stem Cell Corporation is focused on the therapeutic applications of human parthenogenetic stem cells and the development and commercialization of cell-based research and cosmetic products. ISCO's core technology, parthenogenesis, results in the creation of pluripotent human stem cells from unfertilized oocytes (eggs). hpSCs avoid ethical issues associated with the use or destruction of viable human embryos. ISCO scientists have created the first parthenogenic, homozygous stem cell line that can be a source of therapeutic cells with minimal immune rejection after transplantation into hundreds of millions of individuals of differing genders, ages and racial background. This offers the potential to create the first true stem cell bank, UniStemCell™. ISCO also produces and markets specialized cells and growth media for therapeutic research worldwide through its subsidiary Lifeline Cell Technology, and cell-based skin care products through its subsidiary Lifeline Skin Care. More information is available at www.internationalstemcell.com.
To subscribe to receive ongoing corporate communications, please click on the following link: http://www.b2i.us/irpass.asp?BzID=1468&to=ea&s=0.

International Stem Cell Corporation and Subsidiaries
(A Development Stage Company)
Condensed Consolidated Statements of Financial Condition
June 30,
2011
December 31,
2010
(Restated)(1)
(Unaudited)
Assets
Cash and cash equivalents
$
3,581,933
$
5,782,027
Accounts receivable
341,666
738,506
Inventory
1,329,433
856,083
Prepaid expenses and other current assets
290,196
228,338
Total current assets
5,543,228
7,604,954
Property and equipment, net
1,495,916
1,295,328
Patent licenses, net
1,056,562
986,714
Deposits and other assets
16,279
39,812
Total assets
$
8,111,985
$
9,926,808
Liabilities and Stockholders' Equity
Accounts payable
$
1,032,531
$
582,824
Accrued expenses
855,315
545,781
Deferred revenue
137,834
759,667
Advances
250,000
250,000
Warrants to purchase common stock
1,027,171
2,399,605
Total current liabilities
3,302,851
4,537,877
Commitments and contingencies
Stockholders' Equity
Common stock, $.001 par value, 200,000,000 shares authorized, 76,599,928 shares and 74,771,107 shares issued and outstanding at June 30, 2011 and December 31, 2010, respectively
76,600
74,771
Convertible preferred stock, $.001 par value, 20,000,000 shares authorized, 2,800,043 shares issued and outstanding at June 30, 2011 and December 31, 2010, respectively
2,800
2,800
Subscription receivable on common stock
-
(4,875
)
Additional paid-in capital
59,780,363
56,170,006
Deficit accumulated during the development stage
(55,050,629
)
(50,853,771
)
Total stockholders' equity
4,809,134
5,388,931
Total liabilities and stockholders' equity
$
8,111,985
$
9,926,808


(1)
The Company restated its financial statements for the year ended December 31, 2010, and the quarter ended March 31, 2011.

International Stem Cell Corporation and Subsidiaries
(A Development Stage Company)
Condensed Consolidated Statements of Operations
(Unaudited)
Three Months Ended
June 30,
Six Months Ended
June 30,
Inception
(August 2001)
through
June 30,
2011
(Restated)(1)
2011
2010
(Restated)(1)
2011
(Restated)(1)
2010
(Restated)(1)
Revenues
Product sales
$
1,114,309
$
441,118
$
2,629,225
$
713,744
$
5,728,390
Royalties and license
-
-
-
-
135,000
Total revenue
$
1,114,309
$
441,118
$
2,629,225
$
713,744
$
5,863,390
Development expenses
Cost of sales
362,131
214,330
791,125
360,706
2,506,597
Research and development
1,128,869
754,000
2,132,279
1,338,069
15,992,557
Marketing
345,800
291,576
664,006
424,994
3,063,155
General and administrative
2,135,732
2,033,615
4,368,470
3,408,821
27,692,292
Total development expenses
3,972,532
3,293,521
7,955,880
5,532,590
49,254,601
Loss from development activities
(2,858,223
)
(2,852,403
)
(5,326,655
)
(4,818,846
)
(43,391,211
)
Other income (expense)
Settlement with related company
-
-
-
-
(92,613
)
Miscellaneous expense
(12,040
)
(256
)
(11,140
)
(20,649
)
(28,652
)
Dividend income
-
350
-
25,999
92,875
Interest expense
-
(6,805
)
-
(14,079
)
(2,225,074
)
Sublease income
2,450
2,125
4,650
3,525
303,083
Change in market value of warrants
478,669
7,083,365
1,349,518
(1,347,960
)
(2,380,664
)
Total other income (expense)
469,079
7,078,779
1,343,028
(1,353,164
)
(4,331,045
)
Income (loss) before income taxes
(2,389,144
)
4,226,376
(3,983,627
)
(6,172,010
)
(47,722,256
)
Provision for income taxes
-
-
-
-
6,800
Net income (loss)
$
(2,389,144
)
$
4,226,376
$
(3,983,627
)
$
(6,172,010
)
$
(47,729,056
)
Dividends on preferred stock
$
(107,203
)
$
-
$
(213,231
)
$
(1,238,067
)
$
(7,751,380
)
Net income (loss) attributable to common stockholders
$
(2,496,347
)
$
4,226,376
$
(4,196,858
)
$
(7,410,077
)
$
(55,480,436
)
Basic earnings per common share
$
(0.03
)
$
0.06
$
(0.06
)
$
(0.11
)
Diluted earnings per common share
$
(0.03
)
$
0.04
$
(0.06
)
$
(0.11
)
Share used in per share calculations:
Weighted average shares outstanding
76,340,016
68,676,504
75,842,071
64,789,250
Weighted average shares outstanding on a Fully Diluted Basis
76,340,016
114,797,830
75,842,071
64,789,250

(1)
The Company restated its financial statements for the year ended December 31, 2010, and the quarter ended March 31, 2011.
http://cts.businesswire.com/ct/CT?id=bwnews&sty=20110817005393r1&sid=14230&distro=ftp
International Stem Cell Corporation
Kenneth C. Aldrich, Chairman
760-940-6383
kaldrich@intlstemcell.com
Or
Ray Wood, CFO
760-940-6383
rwood@intlstemcell.com