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SEC Filings

10-Q
BIOTIME INC filed this Form 10-Q on 05/10/2018
Entire Document
 
 

 

BIOTIME, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(IN THOUSANDS, EXCEPT PER SHARE DATA)

(UNAUDITED)

 

   Three Months Ended March 31, 
   2018   2017 
         
REVENUES:          
Grant revenue  $326   $11 
Royalties from product sales and license fees   136    110 
Subscription and advertisement revenues   239    264 
Sale of research products and services   -    5 
Total revenues   701    390 
           
Cost of sales   (109)   (57)
           
Gross profit   592    333 
           
OPERATING EXPENSES:          
Research and development   5,935    6,494 
Acquired in-process research and development (Note 9)   800    - 
General and administrative   6,044    5,101 
Total operating expenses   12,779    11,595 
Loss from operations   (12,187)   (11,262)
OTHER INCOME/(EXPENSES):          
Interest income (expense), net   52    (306)
Gain on sale of equity method investment in Ascendance   3,215    - 
Gain on deconsolidation of OncoCyte   -    71,697 
Gain (loss) on equity method investment in OncoCyte at fair value   (37,419)   16,142 
Loss on equity method investment in Asterias at fair value   (17,398)   (26,097)
Unrealized gain on marketable equity securities   215    - 
Other income (expense), net   (176)   727 
Total other income (expenses), net   (51,511)   62,163 
INCOME (LOSS) BEFORE INCOME TAXES   (63,698)   50,901 
           
Deferred income tax expense   -    (3,877)
           
NET INCOME (LOSS)   (63,698)   47,024 
           
Net loss attributable to noncontrolling interest   150    2,264 
           
NET INCOME (LOSS) ATTRIBUTABLE TO BIOTIME, INC.  $(63,548)  $49,288 
           
NET INCOME (LOSS) PER COMMON SHARE:          
BASIC  $(0.50)  $0.46 
DILUTED  $(0.50)  $0.46 
           
WEIGHTED AVERAGE NUMBER OF SHARES OF COMMON STOCK OUTSTANDING:          
BASIC   126,869    106,712 
DILUTED   126,869    107,384 

 

See accompanying notes to the condensed consolidated interim financial statements.

 

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