First Quarter Financial Results
NeoStem ended the first quarter with $9.3 million in cash and successfully completed a common stock offering in May 2013, that generated $10.7 million of net proceeds to the Company. Net loss from continuing operations for Q1 2013 was $8.9 million (or $6.2 million when excluding non-cash charges - see reconciliation in appendix below) or $.05 per share.
Stem for Life Foundation
NeoStem, in partnership with The Stem for Life Foundation, The Pontifical Council for Culture of the Vatican, and STOQ International, hosted a successful historic three day event entitled The Second International Vatican Adult Stem Cell Conference: Regenerative Medicine – A Fundamental Shift in Science & Culture, which took place within the walls of The Vatican, April 11-13, 2013. Present at the conference was Dr. John Gurdon, keynote speaker and Nobel laureate, who echoed the sentiments of the many other prominent participants when he said, "I was particularly impressed by the thoughtful discussion of the ethical implications of adult stem cell science. These sessions opened my eyes to new dimensions of my work which will inform my future investigations."Bill Hemmer, Anchor at the Fox News Channel and moderator of the second day of the conference, stated, "(This was) a truly remarkable conference on the enormous potential and possibility of adult stem cells. The education and understanding of this science needs to be carefully considered. It could change all of our lives." Meredith Vieira, Special Correspondent for NBC News and moderator of the first day, said, "My husband, Richard, has been living with multiple sclerosis for 40 years, but our children, Ben, Gabe and Lily and I have shared some of that burden. Ultimately, chronic illness is a family affair, which is why we attended the Vatican conference as a family. We wanted to get a better understanding of stem cell research and the conference gave that to us. We listened to doctors, scientists and patients and came away with a strong sense of real hope, not just for Richard but for potentially millions of people. We understand there is a long road ahead, but through hard work and total commitment it may well lead to a better life for all of us."