Should you Buy this Biotechnology Stock – Living Cell Technologies Limited?
50% rise in half yearly operating loss: Living Cell Technologies Limited (ASX: LCT) is an Australasian biotechnology company developing and commercialising breakthrough treatments based on regenerative healing properties of naturally occurring cells. In its half-yearly report for the six months ended 31 December 2016, the group reported for 50% increase in consolidated operating loss after income tax to $2.1m (against 2015 loss of $1.4 m). This came at the back of two factors including groups 1 and 2 of the Phase IIb clinical trial of NTCELL® for Parkinson’s disease being treated at Auckland City Hospital and the cost of securing the supply and manufacture of NTCELL. On one hand, there was an increase in income from Callaghan Innovation Growth Grant owing to increased eligible R&D expenditure; on the other, the company’s share of joint venture losses exceeded its interest.The capital raising of $6.3m late last year led to an increase in cash and cash equivalents to $8.6m from the figure of $5.3m reported at the end of 30 June 2016. The group’s revenue also jumped up 52% over previous corresponding period
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