NeoStem Reports Year End Revenues of $69.8M

NeoStem, Inc. NBS is today providing unaudited results for 2010 and an update of recent activities: Revenues for the year ended December 31, 2010 were $69.8 million compared with $11.6 million for 2009. For the year ended December 31, 2010, the Company invested $16.4 million in capital expenditures primarily related to the construction of a new pharmaceutical manufacturing facility at Erye. Net cash used in operating activities for the year ended December 31, 2010 was $8.5 million compared to $8.4 million for the year ended December 31, 2009. Cash and cash equivalents at December 31, 2010 were $15.6 million.