Asterias Biotherapeutics, Inc. (NYSE MKT: AST), a clinical-stage regenerative medicine company with a focus on pluripotent stem cell technology, today simplified its capital structure through the previously announced Asset Swap with BioTime, Inc. In conjunction with the Asset Swap, Asterias also announces its intention, at its discrestion, to distribute the 3.15 million warrants to purchase common shares of Asterias received pursuant to the Asset Swap to Asterias shareholders on terms to be determined by its Board of Directors.
"I am pleased to announce that Asterias ended 2015 with approximately $21 million of cash, cash equivalents and marketable securities," said Pedro Lichtinger, President and CEO of Asterias. "After the upcoming distribution, if the holders exercise their warrants, we believe Asterias will have the cash it needs to fund operations for at least the next 12 months. In addition, BioTime's ownership of Asterias would be reduced from 58% to 54%."
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