Osiris reports on stem-cell breakthroughs, earnings

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February 25, 2010

Columbia-based Osiris Therapeutics Inc. reported several breakthroughs in clinical trials of its stem-cell therapy and improved fourth-quarter earnings on Wednesday. The biotechnology company said fourth-quarter net income rose to $15.7 million on revenue of $10.7 million, compared to a net loss of $7.8 million on revenue of $6.1 million in the fourth quarter of 2008. Net income in the quarter included a $15.9 million gain from the sale of discontinued operations. In addition, the company said it is moving forward with a study to evaluate the safety of its stem-cell therapy Prochymal to treat heart attack patients after getting positive results on an earlier study. Separately, the company reported that a study of children suffering from side effects of bone marrow transplants showed that 63 percent of those treated with Prochymal improved.

- Lorraine Mirabella

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