Osiris reported fourth quarter 2013 earnings of $0.05 per share,
compared to the year-ago loss of $0.02 per share. However, fourth
quarter earnings missed the Zacks Consensus Estimate of $1.29 per
share. Revenues for the quarter came in at $8.1 million, missing
the Zacks Consensus Estimate of $58 million but well above the
year-ago quarter revenues of $2.9 million. In early Oct 2013,
Osiris sold its culture-expanded mesenchymal stem cell (ceMSC)
business including Prochymal to a wholly-owned subsidiary of
Mesoblast Limited. This deal has not only brought in cash for
Osiris in the form of an upfront payment, the company will also be
entitled to royalty payments. We maintain a Neutral recommendation
on the stock.
Columbia, MD-based Osiris Therapeutics, Inc. focuses on the
development, manufacture and sale of biologic products which have
been developed to promote the body's natural healing process and
improve surgical outcomes. Currently marketed products include
Grafix, Ovation, OvationOS and Cartiform for tissue repair.
In Oct 2013, Osiris sold off its culture-expanded mesenchymal
stem cell (ceMSC) business including Prochymal to a wholly-owned
subsidiary of Mesoblast Limited for up to $100 million. Osiris will
also be entitled to receive single to low double-digit royalties on
sales of products derived from the ceMSC technology. Osiris has
also retained a license to all transferred intellectual property
necessary to run its other businesses.
Osiris generates revenues from the Biosurgery segment,
collaborative agreements, government contracts and research
licenses. Total revenues came in at $24.3 million in 2013, up from
$7.8 million in 2012.
Osiris Therapeutics, Inc. (OSIR): Read the Full
OSIRIS THERAPTC (OSIR): Free Stock Analysis
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