International Stem Cell Corp. (OTC: ISCO), a Carlsbad-based biotechnology company developing novel stem cell-based therapies and biomedical products, Tuesday provided a business update and announced fourth quarter and year-end financial results for the year ended Dec. 31, 2013.
The company earned $6.15 million in revenue for the year ended Dec. 31, an increase of 35 percent compared to 2012. Lifeline Skin Care sales were up 47 percent and Lifeline Cell Technology sales increased 24 percent. Its gross margin improved to 73 percent in 2013 from 72 percent in 2012.
International Stem Cell Corp.'s net cash provided by financing activities was $8.12 million for the year ended Dec. 31, 2013, compared to $6.79 million in 2012.
The company also said it continues to execute on its plan to develop human parthenogenetic neural stem cells (hPNSC) as a clinical product candidate for the treatment of Parkinson's disease (PD).