Advanced Cell Lost $72.8M In 2011
Biotechnology firm Advanced Cell Technology of Marlborough posted a loss of nearly $72.8 million last year, deeper than its loss for 2010, although it cited clearance for clinical trials for a drug developed to treat eye ailments, according to its annual report filed yesterday with the U.S. Securities and Exchange Commission.
Advanced Cell also saw a year-over-year drop in revenue. It took in $506,419 in 2011, down from $725,044 in 2010. Its 2010 loss was just under $54.4 million.
The company, which develops cellular therapies for the treatment of diseases, said it received the go-ahead for clinical trials of stem cell-derived treatments for dry age-related macular degeneration and Stargardt's Macular Dystrophy in the United States and Europe.
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