Fremont, Calif.-based Asterias Biotherapeutics has provided an optimistic update on its ongoing SCiStar clinical trial, according to Yahoo Finance. Asterias reported that the trial's success and the company's general financial achievements in 2016 will increase its ability to develop more trials and treatments in the near future.
Here are six things you should know:
1. Patients involved in the clinical trial have complete cervical spinal cord injuries and were administered 10 million AST-OPC1 cells.
2. Further data regarding six-month efficacy and safety data of these patients, in addition to data relating to the currently-enrolling AIS-A 20 million cell participants, will be available in the third quarter of 2017.
3. CEO Steve Cartt is excited about the clinical trial's success thus far, especially with the possibility of a new AST-OPC1 randomized-controlled trial coming up in 2018.
4. The company reported its cash and cash equivalents totaled $19.8 million as of Dec. 31, 2016. When available-for-sale securities are factored in, the company totaled $35.1 million.
5. Asterias' cash position at the end of 2016 was a significant improvement from its 2015 figures. Ryan Chavez, the company's CFO, believes that the successful year will directly translate to more development programs, studies, and advancements in 2017 and 2018.
6. Asterias is a biotechnology company that primarily focuses on regenerative medicine.
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