Business & Finance
AgeX Therapeutics incurs lower net loss of USD1.956m for Q3 2021
15 November 2021 -

Biotechnology company AgeX Therapeutics Inc ( NYSE American:AGE) disclosed on Friday its net loss of USD1.956m for the quarter ended 30 September 2021.

This reflects an improvement when compared with net loss of USD2.57m for the Q3 2020.

Total revenues of USD24,000 were generated for the third quarter of 2021, down over revenues of USD69,000 for the third quarter of 2020, primarily comprised of allowable expenses under a research grant from the NIH and sales of research products including stem cell products.

Research and development (R&D ) expenses of USD0.3m were recorded for three months ended 30 September 2021, a decline by USD0.4m from R&D of USD0.7m during the same period of 2020. The decrease was primarily attributable to a reduction in research and development related activities that began in May 2020 and shut down of the company's lab facilities as of 31 December 2020.