The company’s success during this quarter can be attributed to the revenues generated from its pipeline of licensed stem cell-based regenerative medicine therapies, which began during the third quarter. The local authority in China also approved pricing and eligibility for patients to receive up to 80 percent reimbursement for orthopedic procedures, which NeoStem believes will continue fueling revenues.
The company reported net cash used in operating activities at the nine months end of 2010 as $3.2 million, a decrease from the $9.5 million reported for the same period in 2009. NeoStem invested $12.5 million in capital expenditures related to continuing expansion in the Chinese market.
Read the NeoStem release on financial reports.
Read other coverage on 3Q FY 2010 financial reports:
– Symmetry Medical Reports $91.5M in Total Revenue for 3Q, 5% Increase
– TranS1 Reports 3Q Total Revenues at $6.3M, 8% Decrease
– Alphatec Spine Reports 3Q Net Revenue of $44M, 49% Increase
