International Stem Cell Corporation (ISCO) reported total revenues of $9.1 million for the fiscal year ending December 31, 2025, consistent with the previous year. The company continues to operate without revenue from its primary therapeutic and clinical product development efforts, relying instead on its two commercial businesses: anti-aging skin care products and research products. The revenue figures reflect a slight increase in cell product sales within the biomedical market, which offset a decline in sales from the anti-aging segment. The cost of sales rose to $4.0 million, leading to a profit margin of 56%, down from 59% in 2024.
In terms of operational changes, ISCO's general and administrative expenses remained stable at approximately $3.5 million, while selling and marketing expenses decreased by 8% to $1.1 million. Research and development expenses increased by 4% to $684,000, reflecting ongoing investments in the development of therapeutic applications for Parkinson's disease, traumatic brain injury, and stroke. The company has made significant progress in its clinical trials, particularly with its ISC-hpNSC® program for Parkinson's disease, which has shown promising preliminary efficacy results.
The company’s workforce consisted of 33 full-time employees as of December 31, 2025, including two executive officers. ISCO's financial health remains a concern, with an accumulated deficit of approximately $111.1 million and a net loss of $418,000 for the year. The company has expressed substantial doubt about its ability to continue as a going concern without securing additional capital, which it anticipates will be necessary to sustain operations and fund ongoing research and development.
Looking ahead, ISCO is focused on expanding its therapeutic market opportunities and enhancing its product offerings. The company plans to announce full results from its Phase 1 clinical trial in the second half of 2026, which could provide critical data for future funding and development efforts. However, the company acknowledges the inherent risks associated with clinical trials and the need for significant capital to support its long-term objectives.
About International Stem Cell CORP
International Stem Cell Corporation is a biotech company specializing in pluripotent stem cell research and development. It creates proprietary human parthenogenetic stem cells for therapeutic applications, notably in neurodegenerative diseases like Parkinson’s. The company also develops research tools and consumer skin care products. Its core value lies in ethically derived, immune-matched stem cells aimed at regenerative medicine, drug discovery, and cosmetic markets.
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