OSIR reports net income of $15.7M for fourth-quarter 2009 compared to net loss of $7.8M in 2008: MicroStockProfit.com

May 6 2010

MicroStockProfit.com announces an investment report featuring Osiris Therapeutics Inc. (Nasdaq:OSIR).  The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.

The full report is available at: www.microstockprofit.com/ads/OSIR

Osiris Therapeutics Inc. (OSIR) is a stem cell therapeutic company.  It focuses on developing and marketing products to treat serious medical conditions in the inflammatory, autoimmune, orthopedic and cardiovascular areas.  The Company's biologic drug candidate, Prochymal, is being evaluated in phase III clinical trials for four indications, including acute and steroid refractory graft versus host disease (GvHD), Crohn's disease and for the repair of gastrointestinal injury resulting from radiation exposure.  Its pipeline of internally developed biologic drug candidates under evaluation also includes Chondrogen for osteoarthritis in the knee.  The Company is partnered with Genzyme Corp. to develop Prochymal as a medical countermeasure to nuclear terrorism and other radiological emergencies. 

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In the report, the analyst notes:

"Net income for the fourth quarter of 2009 was $15.7 million compared to a net loss of $7.8 million in the fourth quarter of 2008.  Revenues were $10.8 million in the fourth quarter of 2009, consisting primarily of upfront license fees from the Genzyme agreement and our research, development and commercialization agreement with JDRF.  Revenues during the fourth quarter of 2008 were $6.2 million.  

"OSIR this week announced that it has been granted Orphan Drug designation from the U.S. Food and Drug Administration (FDA) for Prochymal as a treatment for type 1 diabetes mellitus.  The FDA instituted the Orphan Drug Act to promote the development of treatments for underserved patient populations.  To be eligible for Orphan Drug designation, the treatment must target a disease that affects fewer than 200,000 new patients per year in the United States."