Neuralstem, Inc., the Rockville MD-based company that’s getting ready to start the first human clinical trial to treat Lou Gehrig’s disease, made a profit last quarter. They said its net income for the three months ending March 31 was $905,678, or 3 cents per diluted share, compared with a net loss of $2.3 million, or 7 cents per diluted share, a year ago.
So where’d this money come from? They attributed the improvement to “a non-cash gain from the change in the fair value of warrant obligations,” whatever that means. And that whatever was worth about $3.8 million. No revenue was recorded for either first quarters.
Neuralstem has an application pending with the FDA to begin the first human clinical trial to treat amyotrophic lateral sclerosis (ALS) — a neurodegenerative ailment more commonly known as Lou Gehrig’s disease — with neural stem cells.
[Via Washington Biz Journal]
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