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Stemcells Inc has a market cap of $15 million; its shares were traded at around $1.07 with and P/S ratio of 10.5.
Highlight of Business Operations:Total revenue in 2011 was approximately $1,221,000, which was 14% lower than total revenue in 2010. In 2011, revenue from product sales increased 33%, or approximately $164,000, compared to 2010. This increase was primarily attributable to both increased unit volumes and new product launches in our SC Proven line of media and reagents. In 2011, approximately 70% of our product sales were in Europe, 13% were in the United States, and 17% were in Asia. Licensing and grant revenue declined approximately $370,000, or 40%, in 2011 compared to 2010. Grant revenue decreased from approximately $315,000 in 2010 to approximately $172,000 in 2011 as several projects funded by grants were completed or terminated in 2010. Licensing revenue decreased to approximately $414,000 in 2011 from approximately $613,000 in 2010. The higher licensing revenue in 2010
Total revenue in 2010 was approximately $1,427,000, which was 44% higher than total revenue in 2009. In 2010, revenue from product sales were 30% higher in 2010 compared to 2009. Revenue from product sales were approximately $499,000 in 2010, compared to approximately $385,000 in 2009. The increase in 2010 was primarily attributable to the consolidation of four quarters of product sales from our acquired operations in the U.K. compared to three quarters in 2009. In 2010, approximately 61% of our product sales were in Europe, 12% were in the United States, and 27% were in Asia. Licensing and grant revenue for 2010 were 53%, or approximately $320,000, higher compared to 2009. The increase was primarily attributable to a milestone payment of approximately $438,000, net of royalty due to NeuroSpheres (See Note 2, “Financial Instruments” in the Notes to Consolidated Financial Statements of Part II, Item 8 of this Form 10-K for further information).
Net cash provided by financing activities in 2011 increased by approximately $12,543,000 or 190% compared to the same period in 2010, primarily due to higher net proceeds from sales of common stock in 2011. Net cash provided by financing activities in 2010 decreased by approximately $23,200,000, or 78%, compared to 2009, primarily due to lower net proceeds from sales of common stock.
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