San Francisco Calif., April 21, 2014 – Amarantus Bioscience Holdings, Inc. (OTCQB: AMBS), a biotechnology company focused on the discovery and development of novel diagnostics and therapeutics related to cell cycle dysregulation, endoplasmic reticulum stress, neurodegeneration and apoptosis, today reported financial results and developmental progress for the year ended December 31, 2013.
Amarantus reported a net loss for the year ended December 31, 2013 of $15,170,083 or ($0.03) per share as compared to a net loss of $5,135,618 or ($0.04) per share in 2012. Research and development costs increased to $2,088,992 in 2013 from $583,869 from the prior year.
Gerald E. Commissiong, President & CEO of Amarantus stated, “2013 was an important year for Amarantus as we improved our balance sheet substantially, and laid the groundwork for significant growth in 2014. We have positioned ourselves to achieve a number of important objectives in the year ahead, and will be focused on executing our plans going forward.”
Quarterly and Recent Highlights:
Completed Warrant Solicitation of $3.6 Million.
Entered into $20 million purchase agreement with Lincoln Park Capital Fund
In-Licensed Levadopa-Induced Dyskinesia Phase 2b-Ready Eltoprazine from PGI Drug Discovery
Announced Positive Phase 2a Data for Eltoprozine in LID
Established LymPro research collaboration with Boston University School of Medicine
Announced positive Phase 2a Data for Eltoprazine in adult ADHD
Acquired exclusive option to license intellectual property for use of MANF and CDNF to treat Antibiotic-Induced Ototoxicity
Appointed Chief Financial Officer, Robert Farrell, J.D.
Appointed Dr. Louis Kirby to Board of Advisors
Appointed Dr. Charlotte Keywood as Chief Medical Officer of the Therapeutics Division
Added Kerry Segal as Head of Business Development and Tiffini Clark as Head of Regulatory Affairs.
View Amarantus’ Audited 2013 Financial Report here: http://ir.stockpr.com/amarantus/all-sec-filings/content/0001144204-14-023685/v374510_10k.htm
Conference Call Information
Management will host a conference call on Thursday, April 24, 2014 at 4:05 PM ET to provide updates and address investor questions regarding general business developments. Participants will include President & CEO Gerald Commissiong, Dr. David Lowe and Bob Farrell, CFO. Interested parties may participate by dialing 877-737-7051, (International): 201-689-8878 and entering pass code 2027916 approximately five minutes before the call start time. A replay of the call will be available by dialing 1-877-660-6853 (International): 201-612-7415 and entering conference ID number 13580388
Amarantus is a biotechnology company developing treatments and diagnostics for diseases associated with neurodegeneration and protein misfolding-related apoptosis. The Company has licensed Eltoprazine (“Eltoprazine”), a phase 2b ready indication for Parkinson’s Levodopa induced dyskinesia and Adult ADHD. The Company has an exclusive worldwide license to the Lymphocyte Proliferation test (“LymPro Test(R)”) for Alzheimer’s disease and owns the intellectual property rights to a therapeutic protein known as Mesencephalic-Astrocyte-derived Neurotrophic Factor (“MANF”) and is developing MANF-based products as treatments for brain disorders. Amarantus is a Founding Member of the Coalition for Concussion Treatment (#C4CT), a movement initiated in collaboration with Brewer Sports International seeking to raise awareness of new treatments in development for concussions and nervous-system disorders. The Company also owns intellectual property for the diagnosis of Parkinson’s disease (“NuroPro”) and the discovery of neurotrophic factors (“PhenoGuard”). For further information please visit http://www.Amarantus.com, or connect with the Company on Facebook, LinkedIn, Twitter and Google+.