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Advanced Cell Technology Announces 2012 Third Quarter Results

  Advanced Cell Technology Announces 2012 Third Quarter Results

Business Wire

MARLBOROUGH, Mass. -- November 08, 2012

Advanced Cell Technology, Inc. (OTCBB: ACTC) (“ACT” or the “Company”), a
leader in the field of regenerative medicine, announced today third quarter
financial results for the period ended September 30, 2012.

Highlights from the third quarter included:

  *Treated first Dry Age-related Macular Degeneration (Dry AMD) and
    Stargardt’s Macular Dystrophy (SMD) patient with the higher dosage of
    hESC-Derived RPE cells in second cohort of the U.S. clinical trial at
    Wills Eye Institute in Philadelphia.
  *Closed out first patient cohorts in the U.S. and European Dry AMD and SMD
    clinical trials, which have four cohorts of three patients. The first
    cohort receives a dosage of 50,000 cells, the second receives 100,000
    cells, the third receives 150,000 cells and the final cohort is to be
    dosed with 200,000 cells.
  *Secured approval to proceed with increased dosage into the second cohorts
    of SMD and AMD clinical trials.
  *Announced Scotland’s NHS Lothian as additional site for the Company’s
    European clinical trial using hESC-Derived RPE Cells to treat Macular
    Degeneration.
  *ACT was issued a broad patent covering human RPE cells derived from all
    types of pluripotent stem cells.
  *Secured a $35 million funding commitment from Lincoln Park Capital.

“We are excited with the developments we have seen in our U.S. and European
trials and continue to accelerate enrollment in our clinical programs,” said
Gary Rabin, Chairman and CEO of ACT. “We believe that these three trials could
represent a paradigm shift in the way that stem cells are used in medicine and
are pleased by the support we have received from our clinical trial site
partners.”

2012 Third Quarter Financial Results

ACT had revenue totaling $68,184 for the three months ending September 30,
2012. The revenue relates to license fees and royalties collected. Research
and Development expenses for the three months ended September 30, 2012 and
2011 were $2.8 and $4.0 million respectively. The lower R&D costs were
primarily due to restricted stock issued to an R&D executive in 2011 which
vested immediately as opposed to over a period of quarters in 2012.

The Company reported a loss from operations of $(5.0) million for the three
months ended September 30, 2012, compared to a loss from operations of $(6.9)
million in the same period a year ago. ACT reported a net loss of $(8.5)
million or $(0.00) loss per share in the 2012 third quarter, compared to a net
loss of $(52.5) million or $(0.03) loss per share in the same period a year
ago.

Net cash used in operations for the 2012 third quarter was $3.8 million,
compared to net cash used in operations of $4.1 million in the same period in
2011. The Company ended the 2012 third quarter with cash and cash-equivalents
of $8.3 million.

Conference Call and Webcast:

The Company will hold a conference call at 4:30 p.m. EDT today during which it
will discuss third quarter 2012 results and provide a corporate update.
Interested parties may dial (888) 264-3177 or 706-902-4345 and use reference
conference ID number 90962762. The call will be available live and for replay
by webcast at: http://us.meeting-stream.com/advancedcelltechnology110812.

About Advanced Cell Technology, Inc.

Advanced Cell Technology, Inc., is a biotechnology company applying cellular
technology in the field of regenerative medicine. For more information, visit
www.advancedcell.com.

Forward-Looking Statements

Statements in this news release regarding future financial and operating
results, future growth in research and development programs, potential
applications of our technology, opportunities for the company and any other
statements about the future expectations, beliefs, goals, plans, or prospects
expressed by management constitute forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Any
statements that are not statements of historical fact (including statements
containing the words “will,” “believes,” “plans,” “anticipates,” “expects,”
“estimates,” and similar expressions) should also be considered to be
forward-looking statements. There are a number of important factors that could
cause actual results or events to differ materially from those indicated by
such forward-looking statements, including: limited operating history, need
for future capital, risks inherent in the development and commercialization of
potential products, protection of our intellectual property, and economic
conditions generally. Additional information on potential factors that could
affect our results and other risks and uncertainties are detailed from time to
time in the company’s periodic reports, including the report on Form 10-K for
the year ended December 31, 2011. Forward-looking statements are based on the
beliefs, opinions, and expectations of the company’s management at the time
they are made, and the company does not assume any obligation to update its
forward-looking statements if those beliefs, opinions, expectations, or other
circumstances should change. Forward-looking statements are based on the
beliefs, opinions, and expectations of the company’s management at the time
they are made, and the company does not assume any obligation to update its
forward-looking statements if those beliefs, opinions, expectations, or other
circumstances should change. There can be no assurance that the Company’s
clinical trials will be successful.

Contact:

Investors:
CEOcast, Inc.
James Young, 212-732-4300
or
Press:
ACT Corporate Communications
Bill Douglass, 646-450-3615
or
Russo Partners
Martina Schwarzkopf, Ph.D., 212-845-4292