ACT Files Past-Due Reports With SEC
Worcester-based Advanced Cell Technology Inc. reported net losses of $5.6 million and $12.6 million for the second and third quarters of 2008, respectively.
The struggling biotech company is behind on its regulatory filings. It said it intends to file its report for the full 2008 fiscal year and for the first quarter of 2009 by the end of the current quarter. Once those reports are filed with the U.S. Securities and Exchange Commission, the company intends to file for relisting on the over-the-counter bulletin board.
The company was delisted last July after missing two filing deadlines.
Revenue for the second quarter totaled $174,388 compared to $274,326 the prior year. Third quarter revenue was $242,195 compared to $124,337 for the third quarter of 2007.
ACT, which is developing stem cell technology for regenerative medicine, finished the third quarter with total assets of $1.6 million and total liabilities of $35.6 million.
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