MARLBOROUGH, Mass.--(BUSINESS WIRE)--

Advanced Cell Technology, Inc. (ACT, OTCBB: ACTC)(the Company), a leader in the field of regenerative medicine, announced today second quarter financial results for the period ended June 30, 2012.

Highlights of the second quarter include:

Second Quarter 2012 Financial Results

ACT had revenue totaling $218,184 for the 2012 second quarter, compared to revenue of $153,688 in the prior year. Revenue was generated through license fees and royalty payments. Research and Development expenses for the three months ended June 30, 2012 and 2011 were $2,068,098 and $1,532,271 respectively.

The Company reported a loss from operations of $(4.5) million in the 2012 second quarter compared to a loss from operations of $(3.6) million in the 2011 second quarter. ACT reported a net loss of $(4.0) million or $(0.00) loss per share in the 2012 second quarter, compared to a net loss in the same period of 2011 of $(4.8) million, or $(0.0) per share.

Net cash used in operations for the 2012 second quarter was $2.9 million, compared to net cash used in operations of $3.3 million in the same period in 2011. The net cash used in operations was a result of ongoing clinical activities. The Company ended the 2012 second quarter with cash and cash equivalents of $9.9 million, compared to approximately $10.8 million as of March 31, 2012.

We are pleased with our progress to date in our ongoing Phase I/II clinical trials for the treatment of Stargardts Macular Dystrophy (SMD) and Dry Age-Related Macular Degeneration (Dry AMD), said Gary Rabin, interim Chairman and CEO of ACT. The promising preliminary results from the first cohort have positioned the Company well as we enter the second cohort and higher dosage in our landmark macular degeneration trials.

The company will hold a conference call and webcast to discuss the second quarter results and provide a corporate update today at 4:30 p.m. eastern time.

Interested parties may access the call live by dialing (888) 264-3177 or 706-902-4345 and using conference ID 90962449. This event is also being streamed via webcast. The webcast is available at:

Originally posted here:
Advanced Cell Technology Announces 2012 Second Quarter Results

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