MADISON – Cellular Dynamics International Inc. on Tuesday posted
a wider third-quarter loss that it attributed to higher costs
associated with its July initial public offering and increased
The Madison-based maker of fully functioning human cells said
its loss increased to $7.50 million, or 62 cents a share, from
$5.48 million, or $3.16, a year ago. Per share results reflect
the stock that was issued in the company’s IPO.
Revenue increased to $2.52 million from $1.23 million.
The company’s revenue growth was attributed to higher unit sales
of the company’s iCell products and increased revenue from
collaborations with Eli Lilly & co. and AstraZeneca UK Limited,
according to a company statement.
"A growing number of pharmaceutical companies are adopting CDI's
products for their research programs," said Chairman and CEO Bob
At the end of the third quarter, Cellular Dynamics had sold to
142 customers over the prior 12 months, compared to 115 for the
same 12-month period of 2012.