ACT Begins OTC Trading
Worcester's Advanced Cell Technology Inc. has begun trading its stock on the Over-The-Counter Bulletin Board now that all of its filings are current.
The stem cell focused biopharmaceutical developer was delisted in July 2008 after missing two filing deadlines.
ACT said it has been able to raise capital through a series of licensing agreements and other arrangements, and it expects to file an investigative new drug application with the U.S. Food and Drug Administration this year.
In July, ACT reported a first quarter loss of $19 million, compared to a $9.5 million loss for the same period the previous year.
The company's revenue increased from $124,343 in the first quarter of 2008 to $293,976 as of March 31 of this year. Between the end of the fourth quarter of 2008 and the first quarter of this year, ACT's cash reserves shrunk from $816,904 to $522,502.
The July filing brought the company up to date with the U.S. Securities and Exchange Commission, and it announced at the time that it intended to seek relisting on the Over-The-Counter Bulletin Board.
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