Viacell loss widens
ViaCell, Inc. reported a wider fourth-quarter loss as higher costs offset revenue growth.
The Cambridge, Mass. based biotechnology company reported a fourth-quarter loss of $4.59 million, or 12 cents a share, compared to a loss of $3.99 million, or 10 cents a share, a year earlier.
Revenue rose 26% to $14.1 million from $11.2 million in the quarter.
The company projects a 2007 loss of 46 cents to 50 cents a share. It expects sales growth in the first half of 2007 to be consistent with its growth in 2006 compared to 2005.
ViaCell expects 2007 sales of ViaCord - a product used in the preservation and storage of umbilical cord blood - to be in the range of $69 million to $71 million.
ViaCell expects to turn cash flow positive in the first half of 2008. (AP)
