Neuralstem shares rose Monday after the stem-cell development company reported a 2014 loss that matched analysts’ expectations while its revenue for the year was above the Street view.
Shares of CUR were up 7.4% at $2.75 in recent trading shortly after the open, in a 52-week range of $2.12 to $4.81.
The company reported a net loss of approximately $22.6 million, or $0.26 per share, for 2014, compared with a loss of approximately $19.8 million, or $0.27 per share, in 2013. The per-share comparison was skewed by a 20% jump in the number of shares outstanding. Two analysts polled by Capital IQ had expected a GAAP loss of $0.26 per share, on average.
The company’s operating loss was approximately $17.4 million, compared with a loss of approximately $12.5 million in the previous year. The widening of the operating loss was primarily attributable to an increase of approximately $3.7 million in general-and-administrative expenses coupled with an increase of approximately $1.0 million in research-and-development expenses.
Total revenue plunged to $18,833 for 2014 from $110,000 in the previous year, but was above three analysts’ average expectation for about $10,000 in revenue.
“In 2015, we plan to begin clinical development of our NSI-189 small molecule drug in a second indication for the treatment of cognitive deficit from schizophrenia, and we plan to initiate a Phase II clinical trial for the ongoing development program for the treatment of major depressive disorder (MDD),” said CEO Richard Garr. “The cell-therapy programs in amyotrophic lateral sclerosis (ALS), chronic spinal cord injury (cSCI) and stroke will also move forward.”