This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Osiris Reports 3rd Quarter 2013 Results: Revenue Up 220%, Strong Balance Sheet, Profitable And Now Cash Flow Positive From Continuing Operations

Osiris Therapeutics, Inc. (NASDAQ:OSIR), the leading stem cell company focused on developing and marketing products in orthopedic, sports medicine and wound care markets announced today its financial results for the third quarter of 2013.

Highlights and Recent Developments
  • 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.

“We have now successfully transformed Osiris from a concept into a biotechnology reality with positive cash flow, expanding product sales, a strong balance sheet, no debt and a solid pipeline,” said C. Randal Mills, Ph.D., President and Chief Executive Officer of Osiris. “Importantly, we have accomplished this with minimal dilution to our shareholders. While these results clearly set Osiris apart in the stem cell industry, the team is focused solely on realizing the opportunities ahead of us.”

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.19 0.00%
FB $118.06 0.00%
GOOG $695.70 0.00%
TSLA $222.56 0.00%
YHOO $36.00 0.00%


Chart of I:DJI
DOW 17,651.26 -99.65 -0.56%
S&P 500 2,051.12 -12.25 -0.59%
NASDAQ 4,725.6390 -37.5850 -0.79%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs