Advanced Cell Technology Announces Fourth-Quarter and Year-end Results

  Advanced Cell Technology Announces Fourth-Quarter and Year-end Results

Business Wire

MARLBOROUGH, Mass. -- March 7, 2013

Advanced Cell Technology, Inc. (“ACT”, OTCBB: ACTC or the “Company”), a leader
in the field of regenerative medicine, today announced fourth quarter and
year-end financial results for the period ended December 31, 2012.

Highlights from the fourth quarter included:

  *Completed second patient cohort in all three clinical trials in the U.S.
    and Europe to treat Stargardt’s Macular Dystrophy (SMD) and dry Age
    Related Macular Degeneration (AMD), effectively reaching the halfway point
    of all three groundbreaking clinical trials.
  *Received Data Safety and Monitoring Board (DSMB) approval to treat the
    second patient cohorts in the U.S. and European clinical trials for SMD
    and dry AMD and commenced enrollment and treatment of patients in the
    trial with the higher dosage of Embryonic Stem Cell-Derived Retinal
    Pigment Epithelial Cells.
  *In addition to reporting that all 18 patients across the three trials have
    been treated and no safety issues had arisen( the primary purpose behind
    the Phase I studies is to assess safety), the Company also released
    positive interim data citing the integration of the RPE cells in the
    proper anatomical site in the eye and noted visual acuity improvements
    from the patients.
  *ACT’s Induced Pluripotent Stem (iPS) Cell-Derived Human Platelet program
    chosen by New Scientist Magazine as one of “10 ideas that will shape the
    year.”

“2012 represented a transformative year for ACT both clinically and through
favorable corporate developments,” said Gary Rabin, chairman and CEO of ACT.
“The Company announced promising data from its most advanced clinical programs
in AMD and SMD, and has made solid progress in bringing each of these programs
through the clinical trials. ACT has also been able to remove many of the
impediments to achieving a listing of its stock on a National Exchange, by
eliminating significant contingent liabilities through resolution of
outstanding litigation. We believe the Company is now well positioned to
achieve both its clinical and corporate objectives in 2013.”

2012 Fourth Quarter Financial Results

Advanced Cell had revenue totaling $124,434 for the three months ended
December 31, 2012 as compared to $66,238 in the same period in 2011. Research
and Development expenses for the fourth quarter in 2012 and 2011 were $3.7 and
$2.9 million respectively.

The Company reported a loss from operations of $(6.2) million for the three
months ended December 31, 2012, compared to a loss from operations of $(5.8)
million in the same period a year ago, the rise in cost mainly attributed to
clinical trial expenses. ACT reported a net loss of $(10.3) million or $(0.01)
loss per share in the 2012 fourth quarter, compared to $(12.1) million or
$(0.02) loss per share in the same period a year ago. Net cash used in
operations for the 2012 fourth quarter was $3.1 million, compared to net cash
used in operations of $2.8 million during the same period in 2011.

FULL-YEAR RESULTS

The Company had $466,487 in revenue in 2012 as compared to $506,419 in 2011.
Research and Development expenses in 2012 were $11.0 million, up from $10.0
million in 2011 primarily as a result of an increase in clinical trial
expenses. The Company reported a loss from operations of $(21.1) million in
2012, compared to 2011’s loss from operations of $(21.1) million. ACT reported
a net loss of $(28.5) million or $(0.01) loss per share compared to a net loss
of $(72.8) million or $(0.05) loss per share in the same period a year ago.

The Company ended 2012 with cash and cash-equivalents of $7.2 million.

Conference Call

The Company will hold a conference call at 4:30 p.m. EST on Thursday, March
7^th, 2013, during which it will discuss 2012 results and provide an update on
clinical activities. Interested parties should dial (888) 264-3177 followed by
the reference conference ID number: 92438156. The call will be available live
and for replay by webcast at:
http://us.meeting-stream.com/advancedcelltechnology030413

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, 2012. 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
 
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