Meatech 3D Loss Narrows In 1H

by Shivani Kumaresan, Benzinga Staff Writer

August 16, 2021 11:34 AM | 1 min read |

Meatech 3D Ltd MITC reported a loss of $(6.82) million in the first half of FY21, versus $(12.96) million last year.
Research and development expenses increased to $2.1 million. The operating loss narrowed to $(6.73) million.
The company held $30.6 million in cash and equivalents as of June 30, 2021.
Cash flow used in operating activities totaled $5 million in 1H.
"During the first half of 2021, we expanded our bovine and avian cell product lines, and initiated research and development activities for cultured porcine cell technologies," said CEO Sharon Fima.
In August 2021, Meatech 3D completed the process to voluntarily delist its ordinary shares from the Tel Aviv Stock Exchange.
Price Action: MITC shares are trading lower by 2.94% at $6.4159 on the last check Monday.

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