05.08.15
Cellular and regenerative medicine company Osiris Therapeutics Inc. has released its first quarter 2015 financial results.
Some highlights include:
Research and development expenses for the first quarter of 2015 were $1.6 million, increased from the $0.7 million incurred in the first quarter of 2014. As a result of increased commercial activity, the company’s selling, general and administrative expenses were $12.8 million for the first quarter of 2015, compared to $7.2 million for the same period of the prior year.
The company is based in Columbia, Md.
Some highlights include:
- Increased product revenue for the quarter to $21.0 million, a 109 percent increase over Q1 2014;
- Gross margin remained consistent at 78 percent;
- Completed the quarter with after-tax income from operations of $1.4 million or $0.04 per share;
- Launched BIO4 in collaboration with Stryker at the American Academy of Orthopaedic Surgeons;
- Increased coverage to 40 million Medicare lives, 21 million Medicaid lives and initiated commercial coverage for 37 million lives for Grafix; and
- Ended the quarter with $101.6 million of total assets.
Research and development expenses for the first quarter of 2015 were $1.6 million, increased from the $0.7 million incurred in the first quarter of 2014. As a result of increased commercial activity, the company’s selling, general and administrative expenses were $12.8 million for the first quarter of 2015, compared to $7.2 million for the same period of the prior year.
The company is based in Columbia, Md.