STAB - Statera Biopharma reports prelim 2021 revenue of $1.49M

Statera Biopharma (NASDAQ:STAB), formerly known as "Cytocom," has reported prelim revenue of $1.49M for 2021. The biopharmaceutical firm reported no revenue in 2020. The growth in revenue was attributed to the acquisition of ImQuest Life Sciences and its subsidiaries by Cytocom in June 2021. Net loss for the year widened to $34.89M compared with $12.1M in 2020. The increase is principally due to the increase in operating expense. CEO Michael Handley stated, "We have taken numerous steps to further the development of our clinical stage pipeline that has us well-positioned to achieve numerous milestones in 2022. Following the recent submission to the FDA of our Phase 3 clinical trial protocol for STAT-201 in the treatment of pediatric Crohn’s Disease, we plan to use proceeds from our recent registered direct offering to initiate patient enrollment in the second quarter. Additionally, use of proceeds will include the enrollment of patients with acute

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Statera Biopharma reports prelim 2021 revenue of $1.49M