Revenues increase for Cellular Dynamics during fourth quarter

Special to The Freeman

March 6, 2015

MADISON — During the fourth quarter of 2014, Cellular Dynamics International, Inc. reported an increase in revenue of 57 percent.

The Madison-based developer and producer of fully functioning human cells in industrial quantities reported its total revenues for the fourth quarter of 2014 were $6.6 million compared to $4.2 million for the fourth quarter of 2013. For the year ended Dec. 31, 2014, total revenues were $16.7 million compared to $11.9 million for the year ended Dec. 31, 2013, an increase of 40 percent.

Cellular Dynamics credits the growth for both periods to an increase in collaborations, partnerships and other revenues, which during the fourth quarter were $4 million compared to $1.7 million for the fourth quarter of 2013, an increase of 139 percent.
 
Net loss for the fourth quarter of 2014 was $5.8 million, or $0.36 per share, compared with a net loss of $6.7 million, or $0.43 per share, for the fourth quarter of 2013, according to the report. For 2014, net loss was $30.6 million, or $1.94 per share, compared with a net loss of $25.0 million, or $3.17 per share, for 2013.

“A growing number of pharmaceutical, biotech and CRO companies, as well as academic researchers continue to adopt CDI’s products for their research programs. … We believe these results add to the growing evidence that we are the industry standard for manufactured human cells,” said Bob Palay, chairman and CEO of CDI, in a statement.

In 2014, CDI sold to 200 customers, up from 150 in 2013. The company’s top 10 customers averaged $1.1 million in revenue for 2014 and increase of 33 percent from $830,000 in 2013, according to the report.

www.cellulardynamics.com