Osiris CEO: Our Stem Cell Drug With Zero Sales Is Widely Used

COLUMBIA, Md. ( TheStreet) -- Osiris Therapeutics ( OSIR) CEO Randy Mills, speaking to investors on his company's first-quarter conference call Tuesday morning about Prochymal, a stem cell therapy for graft-versus-host disease:

We have made Prochymal by far -- by far -- the most widely used stem cell drug in the world. So, we regularly and constantly treat patients now on four different continents and are literally treating a patient with Prochymal anywhere around the world at any given time of the day.

Prochymal is the most widely used stem cell drug in the world? Really?

Mills has a different definition of "widely used" than most investors.

Prochymal sales since the stem cell drug was approved in Canada in May 2012 and New Zealand in June 2012: $0.

Reimbursement process in Canada: Incomplete.

Update on Prochymal confirmatory trial, which is required as part of Canadian approval: Incomplete.

Status of long-delayed plans to submit Prochymal for U.S. approval: On permanent hold.

-- Reported by Adam Feuerstein in Boston.

Adam Feuerstein writes regularly for TheStreet. In keeping with company editorial policy, he doesn't own or short individual stocks, although he owns stock in TheStreet. He also doesn't invest in hedge funds or other private investment partnerships. Feuerstein appreciates your feedback; click here to send him an email.

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