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.
