- Product revenue for the quarter rose to $6.9 million - up 220% from the third quarter of 2012.
- Gross margin increased to $5.0 million for the quarter - up 254% from the third quarter of 2012.
- Continuing operations turned profitable and generated $1.8 million in positive cash flow during the first nine months.
- Demonstrated overwhelming efficacy in a multi-center, randomized, controlled clinical trial evaluating Grafix® in the treatment of diabetic foot ulcers, reaching significance on all primary and secondary endpoints.
- Expanded our new product pipeline with positive one-year results on Cartiform®, the introduction of OvationOS™, and the initiation of a new clinical trial in venous leg ulcers, representing more than a billion dollars in market potential.
- Reached a favorable agreement with FDA regarding the regulatory status of the company’s Biosurgery products.
- Announced an agreement for Prochymal worth up to $100 million plus royalties, eliminating all future Prochymal development costs.
- Recognized a deferred tax asset of $13.6 million in October as a benefit of the Prochymal transaction and as a result, expect to report a profit for the fourth quarter and full fiscal year.
- Ended the quarter with pro forma cash, investments and receivables of approximately $82 million.
Osiris Reports 3rd Quarter 2013 Results: Revenue Up 220%, Strong Balance Sheet, Profitable And Now Cash Flow Positive From Continuing Operations
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