November 9, 2012
ACT Reports Losses
By Emily Micucci
Advanced Cell Technology Inc., a Marlborough based regenerative medicine company, reported losses in revenue and net income for the third quarter.
Revenue for the quarter ended Sept. 30 was $68,100 million, down from $132,800 million in the same period last year. Year-to-date revenue totaled roughly $342,000, down from $440,000 in 2011. This translated to losses of $8.5 million and $18.1 million respectively. ACT's revenue is generated from license fees and royalties.
Last month, the company said it secured a new round of funding, totaling $35 million, from Lincoln Park Capital. It will fund ACT for two years.
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