Cellular Dynamics International Inc. on Monday reported a
fourth-quarter loss of $6.7 million, or 43 cents a share,
from $5.8 million, or $3.35, a year ago.
CDI, a Madison-based maker of fully functioning cells, said
revenue rose 41 percent to $4.2 million from $2.9 million.
"We continue to be pleased with the revenue growth of the
company. Total revenues for the fiscal year ended Dec. 31,
2013, increased 81 percent when compared to last year, and
average sales to our top-10 customers increased by 87
percent over the same period," said Bob Palay, chairman and
CEO of CDI. “A growing number of pharmaceutical, biotech and
CRO companies are adopting CDI's products for their research
CDI sold its cells to 150 customers last year, up from 128 a
year earlier, according to a statement. Additionally, the
company generated more than $2 million of revenue from
pharmaceutical company Eli Lilly in 2013.
"We believe these results add to the growing evidence that
our iCell and MyCell products are becoming an industry
standard for manufactured human cells," Palay said.