Business
USRM Posts Financial Results for First Quarter 2019
USRM Posts Financial Results for First Quarter 2019.
About this update from U.s. Stem Cell, Inc.
[{"type":"text","content":"\n\n\n\nUSRM Posts Financial Results for First Quarter 2019\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nUSRM Posts Financial Results for First Quarter 2019\nPR Newswire\nSUNRISE, Fla., May 7, 2019\n\n\n\nSUNRISE, Fla., May 7, 2019 /PRNewswire/ -- U.S. Stem Cell, Inc. (OTC: USRM), a leader in the development of proprietary, physician-based stem cell therapies and novel regenerative medicine solutions, today announced financial results for the first quarter ended March 31, 2019.\n\n \n \n\n \nFor the first time in two years, the Company's revenue decreased.  The drop was 24%, from $1.7M in the first quarter of 2018 to $1.3M in the current quarter.  \n\"We are working to achieve the transition of the autologous stem cell space  from relatively unknown to a recognized, viable option in the marketplace, as more and more people learn about the healing potential from their own stem cells,\" said Mike Tomas, President and CEO of U.S. Stem Cell, Inc.  \"This quarter we saw a negative shift in our quarterly revenues and earnings.  As the benefits of autologous stem cell therapy become more and more relevant, we look forward to continuing to provide leadership and opportunity in the field of regenerative care.\"\nThe Company's gross profit for the first quarter of 2019 decreased 35% compared to the same period last year, from $1.2M to $0.8M.  Operating expenses were down 3% or $33k, for the first quarter of 2019 compared to last year, but remained at approximately $1.2M, due in large part to the Company's costs associated with the legal effort to defend, among other matters,  claims challenging autologous stem cell therapy.  \n\"Americans are given the technology inside their own bodies to heal, and we feel strongly the opportunity is here to preserve access to this treatment as an effective, regenerative therapy whose time has come,\" said Dr. Kristin Comella.  \"We are confident there will be a time when this therapy is part of the standard of care, and we look forward to that day.\"\nWorking capital deficit at ...