LONDON, UK / ACCESSWIRE / May 14, 2018 / International Stem Cell (OTCQB: ISCO) is an early-stage cell therapy company currently in clinical trials to treat Parkinson's disease (PD). In November, the company presented interim six-month results from the first cohort of four patients in its Phase I trial of ISC-hpNSC in PD. Positive signals were seen in a variety of measures, which include daily living, mobility, depression and compulsive disorders.
We have updated our valuation to $34m (previously $33m) or $5.45 (previously $5.52) per basic share. The difference is mainly due to rolling forward our NPV, which was mitigated by a lower cash balance and a higher share count. There remain approximately 12.7m potentially dilutive shares from warrants, options and convertible preferred stock. We project that the company will need at least $62.5m in additional financing before profitability in 2024, of which a total additional $7.5m will be required by the end of 2018.
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