May 9, 2011
ACT Losses, Revenue Down
Advanced Cell Technology Inc. of Marlborough reduced its first-quarter net loss by nearly 70 percent this year to $4.8 million.
The company's expenses were down dramatically - something ACT attributed largely to Q1 2010 expenses of $10.7 million - related to stock issued to its CEO and chief science officer.
ACT's revenue for the quarter was $153,688, down from $205,158 in the same period of 2010, due to licenses being terminated during the fourth quarter of 2010.
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