International Stem Cell Corp. Files Q3 2024 10-Q

TL;DR

ISCO filed its Q3 10-Q. Financials for period ending 9/30/24 are in.

AI Summary

International Stem Cell Corp. (ISCO) filed its Q3 2024 10-Q report on November 13, 2024, detailing its financial performance for the period ending September 30, 2024. The company, formerly known as BTHC III INC., operates in the pharmaceutical preparations sector and is based in San Diego, CA. The filing includes financial data related to its operations, including costs of sales and general administrative expenses.

Why It Matters

This filing provides investors and stakeholders with an update on International Stem Cell Corp.'s financial health and operational performance for the third quarter of 2024.

Risk Assessment

Risk Level: medium — As a company in the pharmaceutical preparations sector, ISCO faces inherent risks related to research, development, regulatory approval, and market competition.

Key Numbers

• 20240930 — Period End Date (Financial reporting period)
• 20241113 — Filing Date (Date the report was submitted to the SEC)

Key Players & Entities

• International Stem Cell CORP (company) — Filer
• BTHC III INC. (company) — Former Company Name
• 20240930 (date) — Period of Report
• 20241113 (date) — Filing Date
• SAN DIEGO, CA (location) — Business Address

FAQ

Filing Documents

• isco-20240930.htm (10-Q) — 1793KB
• isco-ex31_1.htm (EX-31.1) — 12KB
• isco-ex31_2.htm (EX-31.2) — 12KB
• isco-ex32_1.htm (EX-32.1) — 7KB
• isco-ex32_2.htm (EX-32.2) — 8KB
• 0000950170-24-126268.txt ( ) — 8895KB
• isco-20240930.xsd (EX-101.SCH) — 1077KB
• isco-20240930_htm.xml (XML) — 1963KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION Item 1. Condensed Consolidated Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets as of September 30, 2024 (Unaudited) and December 31, 2023 3 Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2024 and 2023 (Unaudited) 4 Condensed Consolidated Statements of Changes in Redeemable Convertible Preferred Stock and Stockholders' Deficit for the three and nine months ended September 30, 2024 and 2023 (Unaudited) 5 Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and 2023 (Unaudited) 6 Notes to Condensed Consolidated Financial Statements (Unaudited) 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 20 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 26 Item 4.

Controls and Procedures

Controls and Procedures 27

—OTHER INFORMATION

PART II—OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 28 Item 1A.

Risk Factors

Risk Factors 28 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 28 Item 3. Defaults Upon Senior Securities 28 Item 4. Mine Safety Disclosures 28 Item 5. Other Information 28 Item 6. Exhibits 29

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Condensed Consolidated Financi al Statements

Item 1. Condensed Consolidated Financi al Statements International Stem Cell Corporation and Subsidiaries Condensed Consolida ted Balance Sheets (In thousands, except share and par value data) (Unaudited) September 30, December 31, 2024 2023 Assets Current assets: Cash $ 1,307 $ 1,588 Accounts receivable, net 680 574 Inventories 1,384 1,263 Prepaid expenses and other current assets 119 96 Total current assets 3,490 3,521 Non-current inventories 223 266 Property and equipment, net 290 215 Intangible assets, net 739 800 Right-of-use assets 407 557 Deposits and other assets 31 31 Total assets $ 5,180 $ 5,390 Liabilities, Redeemable Convertible Preferred Stock and Stockholders' Deficit Current liabilities: Accounts payable $ 321 $ 364 Accrued liabilities 475 485 Operating lease liabilities, current 315 276 Advances 250 250 Related party note payable 3,357 3,457 Total current liabilities 4,718 4,832 Operating lease liabilities, net of current portion 203 445 Total liabilities 4,921 5,277 Commitments and contingencies (Note 8) Series D redeemable convertible preferred stock, $ 0.001 par value; 50 shares authorized; 43 shares issued and outstanding; liquidation preference of $ 4,300 at September 30, 2024 and December 31, 2023 4,300 4,300 Stockholders' Deficit: Non-redeemable convertible preferred stock, $ 0.001 par value; 10,004,310 and 10,004,310 shares authorized; 5,254,310 and 5,254,310 shares issued and outstanding; liquidation preference of $ 9,808 and $ 9,796 at September 30, 2024 and December 31, 2023, respectively 5 5 Common stock, $ 0.001 par value; 120,000,000 shares authorized; 8,004,389 shares issued and outstanding at September 30, 2024 and December 31, 2023 8 8 Additional paid-in capital 106,642 106,276 Accumulated deficit ( 110,696 ) ( 110,476 ) Total stockholders' d

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View this 10-Q filing on SEC EDGAR