Watch List Stock News: Cesca Therapeutics Inc. (NASDAQ: KOOL)

Cesca Therapeutics Inc. (NASDAQ: KOOL) performed -3.23% to trade value at $0.3 in recent trading session and its total traded volume was 335413 shares versus to an average volume of 120.42K. The company has market cap of $6.48 million. The stock has monthly performance of -21.05% while its yearly performance remained at -89.13%.

Cesca Therapeutics Inc. (NASDAQ: KOOL), a market leader in automated cell processing and point-of-care, autologous cell therapies for regenerative medicine, today announced financial and operating results for the fiscal year ended December 31, 2018.

Financial Results for the Year Ended December 31, 2018

Net revenue. Net revenues for the year ended December 31, 2018 was $9.7 million compared to $12.8 million for the year ended December 31, 2017. The decrease in revenues was primarily a result of fewer sales of BioArchive devices and the ending of a royalty payment agreement in the prior year, offset by an increase in CAR-TXpress sales due to the adoption of the technology by new customers.

Gross profit. Gross profit for the year ended December 31, 2018 was $2.2 million, or 23% of net revenue, compared to $5.1 million, or 40% of net revenue for the year ended December 31, 2017. The decrease in gross profit margin was primarily driven by higher overhead costs due to the SynGen acquisition and lower overhead absorption due to reduced procurement.  Additionally, the prior year gross profit margin percentage was higher due to the reversal of inventory reserves for products sold.

Sales and marketing expenses. Sales and marketing expenses for the year ended December 31, 2018 were 1.4 million compared to $1.7 million for the year ended 2017, a decrease of $0.3 million or 20%. The reduction was driven by consultant fees incurred during 2017 for the transition of the SynGen operations and a decrease in commissions.

Research and development expenses. Research and development expenses for the year ended December 31, 2018 were $3.0 million, compared to $3.4 million for the year ended December 31, 2017, a decrease of $0.4 million or 11%. The decrease is driven by a decline in personnel costs due to the June 2018 reorganization.

General and administrative expenses. General and administrative expenses for the year ended December 31, 2018 were $8.3 million compared to $8.2 million for the year ended December 31, 2017. The slight increase is driven by the loss on disposal of equipment in 2018.

Impairment Charges.  The Company incurred impairment charges of $33.1 million during the year ended December 31, 2018, compared to $0.3 million in the year ended December 31, 2017.  The charges were the result of the impairment of intangible assets and goodwill relating to the clinical protocols acquired in the acquisition of Totipotent.

Net loss. For the year ended December 31, 2018, the company reported a net loss attributable to common shareholders of $39.7 million, or ($2.16) per share, based on 18.4 million weighted average common shares outstanding. This compares to a net loss of $5.5 million, or ($0.55) per share, based on 10.0 million weighted average common shares outstanding for the year ended December 31, 2017.

At December 31, 2018, the Company had cash and cash equivalents totalling approximately $2.4 million, compared to approximately $3.5 million at December 31, 2017.

 The stock demonstrated move of -8.20% in previous 5 days graph. Its quarterly performance stands with the percentage of 18.76% while its year to date performance showed change of 12.40%.

 The Company has an insider ownership of 31.63% and institutional ownership remained 1.50%. Its return on investment (ROI) for the last 12 month was 28.00% and its return on equity (ROE) of -155.20% while return on assets (ROA) is at -97.20%.

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