CalbaTech Announces Revenue Increase in First Quarter 2005; Discusses LifeStem Inc., Its Subsidiary, Focusing Exclusively on the Emerging Adult Stem Cell Market
Tuesday , May 24, 2005 05:00 ET
IRVINE, Calif., May 24, 2005 /PRNewswire-FirstCall via COMTEX/ --CalbaTech, Inc. (OTC Bulletin Board: CLBE), an emerging life sciences company (http://www.CalbaTech.com) concentrating on providing products and platforms to the research market for biotech and pharmaceutical companies and to academic institutions, today announced revenues for the first quarter ended March 31, 2005 totaled $314,820, up from $17,270 for the same period in 2004.
The Company announced a loss for the first quarter of 2005 of ($270,450) or (0.01) per share compared to a loss of ($489,496) or (0.03) per share in the first quarter of 2004.
"We expect to increase revenues significantly in 2005," said James DeOlden, Chairman and CEO. "The marketing synergy between two of our subsidiaries, Molecula (http://www.molecula.com), Sterling, Virginia, which develops and sells numerous research reagents for cell transfection, DNA and RNA purification, protein and gene expression and KD Medical, Columbia, Maryland, (http://www.kdmedical.com), a leading manufacturer of media, including microbiological and cell culture, buffers and reagents, could result in $2.2 million in sales in 2005 solely from this portion of CalbaTech."
The 10-QSB filing details the Company's expectations for LifeStem Inc., its subsidiary which is focusing exclusively on the emerging adult stem cell market. "The Company believes this is a market in which there are major opportunities for new entrants to establish new standards through novel stem cell research techniques and business models," Mr. DeOlden said. "We're looking to LifeStem to further develop our Cellular Therapeutics Division and are committed to this new and exciting field of science," added Mr. DeOlden.
About CalbaTech
CalbaTech is focused on developing and providing products and platforms to the research market, both for biotech and pharmaceutical companies, as well as academic institutions. It is concentrating on acquiring, incubating and developing life science based companies that are developing current and future generation products and technologies, both in the United States and in the United Kingdom. In addition to growth through acquisition, CalbaTech, comprised of three divisions, Molecular Applications, Research Reagents, and Cellular Therapeutics, is building an experienced and innovative scientific staff, including several notable members of its Scientific Advisory Board that intend to contribute innovation in areas of biological discovery.
Contact: Paul Knopick (949) 707-5365 pknopick@eandecommunications.com
Note: Certain statements in this news release may contain "forward looking" information within the meaning of rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Act of 1934 and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, may include forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements.
SOURCE CalbaTech, Inc.
Paul Knopick, +1-949-707-5365, pknopick@eandecommunications.com, for CalbaTech, Inc.
posted
gotta feeling the 10-Q in November is going to be the best the company ever had and if they do announce they are profitable as they said in the projections from the 10-k then CLBE should be moving up over .20 imo and if just one of the three patents get pinpointed and issued then this company is going to have a completely new profile going into the new year!
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