Medistem Laboratories (MDSM.OB) reports that revenues were $477,000 for the first quarter of 2007, up from $214,000 in the fourth quarter of 2006 and $105,000 in the third quarter of 2006.
Revenues were derived from patient treatments in its licensee clinics in Costa Rica and Mexico.
Key events in the first quarter of 2007 were as follows:
— Revenues more than doubled for the second consecutive quarter
— Net cash outflows from operations was reduced to $62,000
— Medistem initiated preclinical research with Indiana University and
Lawson Health Research Institute for its first two pipeline drugs,
Angiostem(TM) and Tolerostem(TM), aimed at the U.S. markets
— Medistem executes agreement with second licensee in Mexico
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