Cesca Therapeutics (KOOL), an autologous cell-based regenerative medicine company, said its fiscal Q4 net loss narrowed as a result of lower legal costs, while revenue declined.
Net loss for the quarter ended June 30, 2015 was $2.4 million, or $0.06 share, compared to $2.9 million, or $0.08 a share, for the same prior year period. The net loss decreased by $493 thousand as the result of lower legal and audit fees.
Net revenues were $3.7 million, compared to $3.8 million for the same period in 2014. The decrease in revenues of $136 thousand was primarily due to selling one fewer BioArchive device in the current year period.
The shares closed at $0.65 on Thursday near the bottom of a 52-week range of $0.58 – $1.36.