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By Tricia Bishop and Tricia Bishop,Sun reporter | July 25, 2008
Osiris Therapeutics' shareholders approved yesterday the sale of the stem cell drugmaker's only product line, a bone-regeneration treatment called Osteocel, in a transaction worth up to $137 million, which will be used for the company's next generation of drugs. In April, Columbia-based Osiris announced plans to find a buyer for the business. It secured a deal with San Diego's NuVasive Inc. in May. The funds will be used to further Osiris' core business: developing biologic drug candidates in the inflammatory, orthopedic, and cardiovascular areas from mesenchymal stem cells.
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BUSINESS
By Scott Dance, The Baltimore Sun | August 7, 2014
Osiris Therapeutics cut its quarterly losses in half as it more than doubled sales of its stem cell-based medical treatments used in wound care and sports medicine, but it widely missed Wall Street analysts' expectations. Sales grew to $13.3 million in the quarter ended June 30, up from $5.3 million in the same quarter of 2013. Losses narrowed to $1.9 million from $3.8 million over the same period. When solely considering Osiris' operations, excluding any long-term costs, officials at the Columbia-based company said losses narrowed to $66,000.
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BUSINESS
December 27, 1996
Osiris Therapeutics, a Baltimore biotechnology company, said yesterday that it will provide grants to the Ireland Cancer Center and Case Western Reserve University in Cleveland to help pay for a clinical trial of a blood-boosting cell therapy the company has developed.Osiris' grants will pay for use of the therapy in breast cancer patients whose insurance does not cover such infusions.The clinical trial, which could involve up to 30 patients, began last month. It involves studying the safety of the Osiris therapy, which is designed to boost breast cancer patients' blood cell counts, said James Burns, Osiris' president.
BUSINESS
By Natalie Sherman, The Baltimore Sun | April 30, 2014
A California agency that oversees $3 billion in stem cell research funding Wednesday named former Osiris Therapeutics head C. Randal Mills to replace its outgoing CEO. Mills, a Bethesda native and Baltimore resident, stepped down in December after almost 10 years at Osiris, citing personal reasons. The California Institute for Regenerative Medicine's governing board selected Mills from seven finalists after interviews in April, spokesman Kevin McCormack said. He will make $550,000 in his new position and a start date has not been determined, McCormack said.
BUSINESS
By Julie Bell and Julie Bell,SUN STAFF | January 3, 2001
Osiris Therapeutics Inc., once hailed as a bellwether for Baltimore's biotechnology industry only to fall on rough times, now hopes that it has achieved the kind of scientific breakthrough needed to combat investor skepticism. The company, which has labs and offices in Fells Point, develops products deigned to regenerate human connective tissues such as muscle, bone and cartilage. Its experimental products, two of which are being tested in patients, are derived from stem cells, the progenitor cells that lead to all others in the body.
BUSINESS
By M. William Salganik and M. William Salganik,Sun reporter | November 27, 2007
Osiris Therapeutics Inc. is gearing up for expanded trials for a stem cell treatment used to treat pain in osteoarthritis patients after promising results from early-stage testing. Chondrogen, a preparation of adult stem cells that is injected into the knee, produced a significant reduction in knee pain compared with an existing treatment, according to the company. C. Randal Mills, president and chief executive officer of the Columbia company, termed the results "clinically and statistically significant."
BUSINESS
BY A SUN STAFF WRITER | March 17, 1998
Baltimore-based Osiris Therapeutics Inc. said yesterday that it has struck an alliance with an Italian research group to develop treatments to help connective tissue cells regenerate quickly after chemotherapy, bone injuries and connective tissue disorders.Under the agreement, Osiris said it will supply $1 million in research funding to the Center for Advanced Biotechnology at the Institute for Cancer Research and the University of Genoa, Italy. Osiris said the alliance will seek to build on research by Dr. Ranieri Cancedda at the Center for Advanced Biotechnology.
BUSINESS
By Hanah Cho ha and Hanah Cho ha,nah.cho@baltsun.com | November 5, 2008
Osiris Therapeutics announced yesterday that it has struck a marketing deal with a large biotechnology firm for two adult stem cell treatments worth up to $1.38 billion. The Columbia company and Massachusetts-based Genzyme Corp. have paired up to develop and sell Prochymal and Chondrogen, two late-stage adult stem cell treatments for several disorders. Osiris developed the treatments but will get financial support from Genzyme for further advancement and commercialization of the products.
BUSINESS
By Tricia Bishop and Tricia Bishop,Sun reporter | February 21, 2007
After disappointing drug results and a stock downgrade from a major financial firm, Osiris Therapeutics Inc. detailed yesterday how it doubled its loss last year, blaming increased clinical trial efforts and charges associated with its initial public offering of stock in August. Loss for the year was $45 million, compared with $20 million in 2005. For the quarter that ended Dec. 31, the company lost $12.7 million, compared with $8.1 million for the final quarter of 2005. The earnings information, first detailed in a news release late Monday and then discussed during a conference call with analysts yesterday morning, didn't do much to move investors.
BUSINESS
By Tricia Bishop and Tricia Bishop,Sun reporter | January 9, 2007
Baltimore's Osiris Therapeutics Inc. announced yesterday that the Food and Drug Administration has granted its lead stem-cell drug a second "fast-track" status - this time to expedite its development as a therapy for Crohn's disease. In 2005, the agency fast-tracked development of the drug Prochymal as a treatment for a dangerous reaction to bone marrow transplants called GVHD, which annually affects about 4,500 Americans. Crohn's, characterized by chronic intestinal inflammation, afflicts more than half a million people in the U.S., according to the Centers for Disease Control.
BUSINESS
By Scott Dance, The Baltimore Sun | March 5, 2014
Columbia biotechnology company Osiris Therapeutics swung to a profit in the fourth quarter, and for all of 2013, sending its share price surging by as much as 10 percent Wednesday. Osiris made $3.7 million in the final three months of 2013, up from an $803,000 loss in the last quarter of 2012. Quarterly revenue nearly tripled to $8.1 million in the fourth quarter of 2013 up from $2.9 million in the last three months of 2012. The fourth quarter included closing of a deal to sell Prochymal, its marquee stem cell drug, for up to $100 million to a subsidiary of Australian company Mesoblast Ltd., as well as an agreement reached with the Food and Drug Administration over its stem cell bandage treatment Grafix.
BUSINESS
The Baltimore Sun | December 3, 2013
Shares in Osiris Therapeutics Inc. fell 7.6 percent Tuesday after the company announced that C. Randal Mills will step down as its president and CEO for personal reasons. Mills will remain as a strategic advisor to the Columbia-based firm that develops stem cell-based products to treat conditions in orthopedic, sports medicine and wound care markets. Lode Debrabandere, the firm's chief operating officer, will become president and CEO, pending approval of the Osiris board. Debrabandere joined Osiris in 2006 to lead its marquee unit developing the drug Prochymal to treat Crohn's disease.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | October 25, 2013
When Osiris Therapeutics disclosed an agreement last week resolving concerns from federal regulators, the Columbia biotech firm pitched it as a win. The deal doesn't require changes to its marketing of Grafix bandages, Osiris said, and also gives it the opportunity to get a biologics license that could improve international prospects for the product. But some news stories — and at least one Wall Street analyst team — described the U.S. Food and Drug Administration agreement in entirely different terms.
NEWS
By Gus G. Sentementes, The Baltimore Sun | July 30, 2012
Columbia-based Osiris Therapeutics Inc., a biotechnology company developing stem cell-based treatments, beat Wall Street analysts' estimates with a reported loss of $4.3 million in the second quarter, which ended June 30. The firm, which earlier this year drew international headlines for having the world's first stem cell drug approved by a major country, posted a loss of 13 cents per share. Analysts polled by MarketWatch had expected a 15-cent-per-share loss. The company said its revenues from biosurgery products - which are used to improve wound healing and tissue regeneration - rose 43 percent, to $1.6 million, from the first quarter.
NEWS
By Frank D. Roylance, The Baltimore Sun | May 25, 2011
The NASA Goddard Space Flight Center in Greenbelt will get a $128 million slice of a new mission to grab a sample from an asteroid and return it to Earth in 2023. NASA selected the $800 million OSIRIS-Rex mission for funding Wednesday, passing over competing proposals to send spacecraft to Venus and the moon. The work will be led by Michael J. Drake at the University of Arizona, Tucson, and managed by Goddard. Engineers at the space center will also build one of its instruments.
NEWS
By Frederick N. Rasmussen, The Baltimore Sun | June 28, 2010
Zakary Aaron Osiris DeGross, a Boys' Latin School student who excelled in both the classroom and on the athletic field, died June 18 at Johns Hopkins Hospital after a nearly 1 1/2-year struggle against cancer at Johns Hopkins Hospital. He was 14. "He was most notably characterized by his broad smile and wide eyes, and his optimism and cheerfulness that abounded in the face of a most difficult medical challenge," said Christopher J. Post, headmaster of the North Baltimore boys private school.
BUSINESS
By TRICIA BISHOP and TRICIA BISHOP,SUN REPORTER | July 18, 2006
Osiris Therapeutics could raise more than $50 million from its initial stock offering, the company said yesterday. The Fells Point stem-cell technology company expects to sell 3.5 million shares at $11 to $13 each, according to an amended registration filed with the Securities and Exchange Commission. The underwriters would be able to obtain an additional 525,000 shares to cover over-allotments. After the offering, the company will have 27 million shares outstanding. Over the last two years, Osiris has raised $70 million in venture capital funding.
BUSINESS
By Julie Bell and Julie Bell,SUN STAFF | July 13, 2001
Osiris Therapeutics Inc. has closed on $6 million in financing arranged by a Swiss venture capitalist who has pledged an additional $4 million to be received in the fall, the company said yesterday. The bridge financing allows Osiris - which had just weeks of cash left last month - to keep operating as it reviews its options for longer-term fund-raising, including a public offering in Switzerland or the United States. "Basically, there's always been a commitment that, as the company requires funding, they would provide funding," Osiris Chief Financial Officer Alan A. Musso said yesterday of the company's Swiss investors.
BUSINESS
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.
BUSINESS
By Jay Hancock and Jay Hancock,jay.hancock@baltsun.com | September 18, 2009
Another year, another disappointment for the industry that people keep calling the future of Maryland's economy. Last week, the best hope for one of the state's top biotechnology companies became a bust. Columbia-based Osiris Therapeutics disclosed that Prochymal, its stem-cell therapy for bone-marrow transplant patients, worked no better than a placebo in patient tests. Osiris stock fell by nearly half. The company founded in 1992 has never made money. It lost $150 million the last four years.
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