On Monday, Stellar Biotechnologies, Inc. (NASDAQ: SBOT)
(TSX-V: KLH), the leader in the sustainable manufacture of Keyhole Limpet
Hemocyanin (KLH), announced its financial results for its first fiscal quarter
ended December 31, 2015. According to the report, the company successfully
leveraged the increased visibility and improved access to institutional
investors provided by its recent uplisting to the NASDAQ Capital Market
(completed on November 5, 2015) to drive a 130 percent year-over-year increase
in quarterly revenue.
“We are pleased to report good momentum heading into 2016,
with what we believe are positive indicators for our core KLH business,” Frank
Oakes, president, chief executive officer and chairman of Stellar, stated in
the news release. “We are focusing on continuing to increase sales revenue, and
we are working to expand our commercial and clinical opportunities with new
collaborations.”
One such collaboration was proposed on January 20, 2016, in
the form of a joint venture between Stellar and Neovacs, S.A, a leading
biotechnology firm focused on an active immunotherapy technology platform
(Kinoids) with applications in autoimmune and/or inflammatory diseases. The
purpose of this proposed joint venture is to produce Neovacs’ Kinoid product
candidates using Stellar’s KLH. The term sheet also outlined the possibility of
manufacturing other KLH-based immunotherapies on behalf of third party
customers in the future. As of writing, this proposed joint venture has yet to
be consummated.
Additional highlights from Stellar’s financial report
include:
The company generated total revenues of $488,160 for the
three months ended December 31, 2015, compared to $212,661 for the three months
ended December 31, 2014
Total expenses for the quarter were $1.8 million, compared
to $1.5 million for the same period in 2014; the company attributed this
increase to a combination of NASDAQ listing fees, compensation increases,
increased share-based compensation and increased investor relations activity
Stellar’s working capital as of December 31, 2015, was $8.97
million, compared to working capital of $7.49 million as of September 30, 2015
The company maintained positive shareholders’ equity of $9.6
million and approximately 8.45 million shares outstanding as of December 31,
2015, compared to shareholders’ equity of $8.0 million and approximately 7.98
million shares outstanding at September 30, 2015
To view the full financial report, visit http://dtn.fm/t8W36
Stellar has applied decades of specialized aquaculture
science to a pharmaceutical industry challenge, creating the only KLH
production facility of its kind in the world and establishing itself as the
world leader in the sustainable manufacture of this important
immune-stimulating molecule. The company’s customers and partners include
multinational pharmaceutical companies, renowned research centers, and
developers of active immunotherapies and therapeutic vaccines.
For more information, visit www.StellarBiotech.com and
http://ir.StellarBiotechnologies.com.
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