Cesca Therapeutics (KOOL) Misses Q3 EPS by 2c

Cesca Therapeutics (NASDAQ: KOOL) reported Q3 EPS of ($0.12), $0.02 worse than the analyst estimate of ($0.10). Revenue for the quarter came in at $4 million versus the consensus estimate of $4.58 million.

"We made strides in several key areas," said Robin C. Stracey, Chief Executive Officer of Cesca Therapeutics. "We addressed several merger-related housekeeping issues including the development of a remediation plan to eliminate an identified material weakness in our corporate governance procedures, the appointment of a new interim CFO and the appointment of a new independent registered public accounting firm. In addition, with the filings of our quarterly reports on Form 10-Q for the periods ending December 31, 2014 and March 31, 2015, we are now in position to regain compliance with NASDAQ Listing Rule 5250(c)(1). These filings bring us back up to date with routine Securities and Exchange Commission reporting requirements," continued Stracey. The NASDAQ staff had granted the Company until June 30, 2015 to regain compliance.

"On the clinical front, we received approval from the Drugs Controller General in India (DCGI) for the import and commercialization of our MarrowXpressTM (MXPTM) system, we secured multi-site Institutional Ethics Committee (IEC) approval to initiate our 40 patient Phase II clinical trial for the treatment of Acute Myocardial Infarction (AMI) using our SurgWerksTM–AMI and VXP System, and, most importantly, we secured FDA approval, without condition, for the initiation of our Phase III pivotal clinical trial in the U.S. for the treatment of patients with late stage CLI using our SurgWerksTM–CLI and VXP System. We also continued to strengthen our intellectual property position. Just this morning we announced the issuance of a new patent by the U.S. Patent and Trademark Office that further protects our SurgWerks™ and CellWerksTM portfolio," he added.

For earnings history and earnings-related data on Cesca Therapeutics (KOOL) click here.

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