stemcells inc (STEM) Key Developments
StemCells, Inc. and StemCells California, Inc. Announce Settlement of its Wrongful Termination Litigation with Rob Williams
Sep 15 15
On September 14, 2015, StemCells, Inc. announced the settlement of its wrongful termination litigation with Rob Williams (employment litigation), captioned Rob Williams v. StemCells, Inc., StemCells California, Inc., and Does 1-50, Alameda County Superior Court, Case No. RG 14732694. The employment litigation and all claims against the company will be dismissed with prejudice. In connection with the settlement, the parties to the employment litigation issued the following joint statement: 'both parties agree that civil litigation should not stand in the way of scientific testing of potential treatments for serious diseases and disorders of the central nervous system, and while current Good Manufacturing Practice (cGMP) regulations are subject to differing interpretations by industry professionals, it is in the spirit of moving forward with potentially groundbreaking therapies that the parties have reached a resolution of this matter'.
StemCells, Inc., StemCells California, Inc. and Neuralstem, Inc. Announce Settlement of Patent Infringement Case
Sep 15 15
On September 14, 2015, StemCells, Inc. announced the settlement of its patent infringement case with Neuralstem, Inc., captioned StemCells, Inc. and StemCells California, Inc. v. Neuralstem, Inc., Karl K. Johe, and I. Richard Garr, U.S. District Court, District of Maryland, Civil Action No. 06-CV-1877 RWT, on appeal before the U.S. Federal Circuit Court of Appeals, Case No. 15-1952. In connection with the settlement, the parties to the Infringement Case issued the following joint statement: 'the parties have agreed to settle the dispute. All claims and counter-claims will be dismissed with prejudice. Each party believes that this settlement will allow it to focus greater time and resources on its ongoing clinical programs'.
StemCells Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015
Aug 6 15
StemCells Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported total revenue of $30,000 compared to $23,000 a year ago. Loss from operations was $9,273,000 compared to $7,960,000 a year ago. Net loss was $8,462,000 or $0.09 per basic and diluted share compared to $12,115,000 or $0.22 per basic and diluted share a year ago. Net loss from continuing operations was $8,462,000 against $1,971,000 a year ago. Revenue from continuing operations is primarily from royalties received under various licensing agreements.
For the six months, the company reported total revenue of $51,000 compared to $47,000 a year ago. Loss from operations was $18,233,000 compared to $14,802,000 a year ago. Net loss was $17,812,000 or $0.22 per basic and diluted share compared to $19,735,000 or $0.36 per basic and diluted share a year ago. Net loss from continuing operations was $17,812,000 against $19,533,000 a year ago.
StemCells Inc. Presents at 15th Annual Biotech in Europe Forum for Global Partnering & Investment, Sep-29-2015 through Sep-30-2015
Jul 30 15
StemCells Inc. Presents at 15th Annual Biotech in Europe Forum for Global Partnering & Investment, Sep-29-2015 through Sep-30-2015. Venue: Congress Center, Basel, Switzerland. Presentation Date & Speakers: Sep-29-2015, Martin M. McGlynn, Chief Executive Officer, Director, Member of Strategic Transactions Committee, Chief Executive Officer of Stemcells California Inc and President of Stemcells California Inc.
StemCells Inc. to Report Q2, 2015 Results on Aug 06, 2015
Jul 22 15
StemCells Inc. announced that they will report Q2, 2015 results at 4:30 PM, US Eastern Standard Time on Aug 06, 2015