07/03/2006 - 21:00

C3 reports $5.6m first-half loss

07/03/2006 - 21:00

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C3 reports $5.6m first-half loss
CLINICAL Cell Culture Ltd (C3) reported an operating loss of $5.6 million, which was up 9 per cent on the previous result, as it continues its investment in growing its distribution capabilities and supporting sales infrastructure. The figures reflect ongoing product launch activity, which have generated increased revenues of $552,334, up from $116,194 recorded in the previous corresponding period. C3 has been pursuing regulatory approval for its ReCell product in new markets. Overall European market feedback had been encouraging, the company said, with the first European re-order for ReCell placed by C3’s Italian distributor. Other key activities in the half year included the company’s $10 million capital raising in August 2005, the opening of an American regional office in Florida and ReCell being cleared for sale in Argentina, Chile, Israel, New Zealand and South Africa.

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