Delaware
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333-82900
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94-3018487
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(State or other jurisdiction of incorporation or organization)
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(Commission File Number)
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(I.R.S. Employer Identification No.)
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[ ] | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
[ ] | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
[ ] | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
[ ] | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Cesca Therapeutics Inc.
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a Delaware Corporation
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Dated: June 23, 2015
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/s/ Michael Bruch
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Michael Bruch
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Interim Chief Financial Officer
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Exhibit No.
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Description
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99.1
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Press release dated June 23, 2015, titled "Cesca Therapeutics Reports Third Quarter Fiscal 2015 Results".
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Dial-in (U.S.):
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1-800-860-2442
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Dial-in (Internationally):
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1-412-858-4600
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Conference Name:
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"Cesca"
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Access number (U.S.):
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1-877-344-7529
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Access number (Internationally)
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1-412-317-0088
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Conference ID#:
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10067709
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·
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SurgWerks™; proprietary stem cell therapy point-of-care kits for the treatment of vascular and orthopedic indications that integrate the following indication specific elements:
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·
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Cell harvesting
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·
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Cell processing and selection
|
·
|
Cell diagnostics
|
·
|
Cell delivery
|
·
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CellWerksTM; a proprietary stem cell laboratory kit for the processing of target cells used in the treatment of oncological and hematological disorders.
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·
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The AutoXpress® (AXP); a proprietary automated device, along with companion sterile blood processing disposables, for the harvesting of stem cells from cord blood.
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·
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The MarrowXpress® (MXP); a derivative product of the AXP and its accompanying disposable bag set, for the isolation and concentration of stem cells from bone marrow. Self-powered and microprocessor-controlled, the MXP contains flow control optical sensors that volume-reduces blood from bone marrow to a user defined volume in 30 minutes while retaining over 90% of mononuclear cells (MNCs).
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·
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The Res-Q™ 60 (Res-Q); a point-of-care system designed for the preparation of cell concentrates, including stem cells, from bone marrow aspirates for bone marrow concentrate (BMC) and whole blood for platelet rich plasma (PRP).
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·
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The BioArchive® System; an automated cryogenic device, used by cord blood stem cell banks in more than 30 countries, for cryopreservation and archiving of cord blood stem cell units for transplant.
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(in thousands, except share and per share amounts)
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March 31,
2015
(Unaudited)
|
June 30,
2014
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||||
ASSETS
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||||||
Current assets:
|
||||||
Cash and cash equivalents
|
$4,792
|
$14,811
|
||||
Accounts receivable, net
|
5,717
|
4,693
|
||||
Inventories
|
5,007
|
5,606
|
||||
Prepaid expenses and other current assets
|
200
|
217
|
||||
Total current assets
|
15,716
|
25,327
|
||||
Equipment, net
|
2,957
|
2,298
|
||||
Goodwill
|
13,195
|
13,254
|
||||
Intangible assets, net
|
21,422
|
21,928
|
||||
Other assets
|
79
|
81
|
||||
$53,369
|
$62,888
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|||||
Current liabilities:
|
||||||
Accounts payable
|
$4,686
|
$3,590
|
||||
Other current liabilities
|
3,714
|
2,790
|
||||
Total current liabilities
|
8,400
|
6,380
|
||||
Long-term liabilities
|
7,928
|
7,810
|
||||
Stockholders' equity
|
37,041
|
48,698
|
||||
$53,369
|
$62,888
|
(in thousands, except share and per share amounts)
|
Three Months Ended
March 31, |
Nine Months Ended
March 31,
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||||||
2015
|
2014
|
2015
|
2014
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|||||
Net revenues
|
$4,042
|
$4,038
|
$12,340
|
$12,150
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||||
Cost of revenues
|
2,899
|
2,502
|
8,470
|
7,434
|
||||
Gross profit
|
1,143
|
1,536
|
3,870
|
4,716
|
||||
Expenses:
|
||||||||
Sales and marketing
|
787
|
687
|
2,315
|
2,115
|
||||
Research and development
|
1,712
|
768
|
4,731
|
2,398
|
||||
General and administrative
|
3,480
|
1,940
|
9,300
|
5,964
|
||||
Total operating expenses
|
5,979
|
3,395
|
16,346
|
10,477
|
||||
Loss from operations
|
(4,836)
|
(1,859)
|
(12,476)
|
(5,761)
|
||||
Other income (expense), net
|
25
|
--
|
(2)
|
--
|
||||
Net loss
|
($4,811)
|
($1,859)
|
($12,478)
|
($5,761)
|
||||
Net loss
|
($4,811)
|
($1,859)
|
($12,478)
|
($5,761)
|
||||
Other comprehensive income:
|
||||||||
Foreign currency translation adjustments
|
21
|
50
|
(48)
|
50
|
||||
Comprehensive loss
|
($4,790)
|
($1,809)
|
($12,526)
|
($5,711)
|
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Per share data:
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||||||||
Basic and diluted net loss per
common share |
($0.12)
|
($0.07)
|
($0.31)
|
($0.28)
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Weighted average common shares outstanding – Basic and diluted
|
40,371,064
|
28,430,676
|
40,316,468
|
20,592,099
|
(in thousands)
|
Nine Months Ended
March 31,
|
||
2015
|
2014
|
||
Cash flows from operating activities:
|
|||
Net loss
|
($12,478)
|
($5,761)
|
|
Adjustments to reconcile net loss to net cash used in operating activities:
|
|||
Depreciation and amortization
|
1,013
|
587
|
|
Stock based compensation expense
|
966
|
462
|
|
Impairment of intangible asset
|
117
|
--
|
|
Net change in operating assets and liabilities:
|
|||
Accounts receivable, net
|
(1,027)
|
(724)
|
|
Inventories
|
66
|
(430)
|
|
Prepaid expenses and other current assets
|
17
|
84
|
|
Other assets
|
1
|
3
|
|
Accounts payable
|
1,110
|
(397)
|
|
Accrued payroll and related expenses
|
383
|
174
|
|
Deferred revenue
|
6
|
129
|
|
Other liabilities
|
511
|
(223)
|
|
Net cash used in operating activities
|
(9,315)
|
(6,096)
|
|
Cash flows from investing activities:
|
|||
Capital expenditures
|
(544)
|
(326)
|
|
Cash acquired in acquisition
|
--
|
351
|
|
Net cash provided by (used in) investing activities
|
(544)
|
25
|
|
Cash flows from financing activities:
|
|||
Payments on capital lease obligations
|
(39)
|
--
|
|
Repayment of related party notes payable
|
--
|
(150)
|
|
Exercise of options and warrants
|
--
|
21
|
|
Issuance of common stock
|
--
|
5,944
|
|
Repurchase of common stock
|
(97)
|
(68)
|
|
Net cash used (provided by) in financing activities
|
(136)
|
5,747
|
|
Effects of foreign currency rate changes on cash and cash equivalents
|
(24)
|
15
|
|
Net decrease in cash and cash equivalents
|
(10,019)
|
(309)
|
|
Cash and cash equivalents at beginning of period
|
14,811
|
6,884
|
|
Cash and cash equivalents at end of period
|
$4,792
|
$6,575
|
|
Supplemental non-cash financing and investing information:
|
|||
Transfer of inventories to equipment
|
$482
|
$65
|
|
Stock issued for repayment of related party note payable
|
--
|
$187
|
|
Equipment acquired by capital lease
|
$208
|
--
|
(in thousands)
|
Three Months Ended
March 31, |
Nine Months Ended
March 31, |
|||||||
2015
|
2014
|
2015
|
2014
|
||||||
Loss from operations
|
($4,836)
|
($1,859)
|
($12,476)
|
($5,761)
|
|||||
Add (subtract):
|
|||||||||
Depreciation and amortization
|
346
|
260
|
1,013
|
587
|
|||||
Stock-based compensation expense
|
290
|
177
|
966
|
462
|
|||||
Impairment of intangible asset | 117 |
--
|
117 |
--
|
|||||
Adjusted EBITDA loss
|
($4,083)
|
($1,422)
|
($10,380)
|
($4,712)
|