Caladrius Biosciences Inc (NASDAQ:CLBS) and AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) held their earnings call for 4Q2015, with CLBS reporting a 43% growth in quarterly revenues and AVEO beating analyst expectations. However, despite significant improvement in the earnings of the two companies, both reported a loss for their 4Q2015. CLBS is a cell therapy company, with a select therapeutic pipeline and is also a leading development and manufacturing services provider. AVEO is a biopharmaceutical company, in its development stages, with a focus on cancer treatments, through its human response platform.
During the 4Q2015, Caladrius acquired a license agreement, with Hitachi Chemical, to sell 19.9% of PCT to the company, for $19.4 million. CLBS has also received $5.6 million as upfront, apart from future royalties, for letting Hitachi license PCT brands in certain Asian territories. Furthermore, PCT was also responsible for helping the company in significantly improving its revenues, through clinical services. CLBS also raised a total of $26.5 million through public offerings, during the FY2015.
David J. Mazzo, the CEO of Caladrius, provided an update during the conference call, stating that FY2016 is off to a good start and also revealed that the company would continue to capitalize on the position of PCT, in the market. He also revealed that CLBS03 would be entering the phase-2 clinical trials for type-1 diabetes patients. Caladrius also reported a general decline in expenses, while continuing to improve revenues. The net loss for the 4Q2015 was $0.59 per share.
Being a developmental stage company, AVEO does not generate revenues through product sales; instead it heavily relies on collaborations and milestone payments to meet its expenses. For the FY2015, the company was successful in beating analyst expectations, for all four quarters. The company reported $0.11 per share, in losses, compared to expectations of $0.14. The revenues for 4Q2015 stood at $3.6 million. The company’s lead product, TIVO-3, is in the phase-3 of clinical trials and is expected to be a third-line treatment for patients with renal cancer. Currently, AVEO is exploring options to fund the further development of the drug.