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BioTime Revenue Up 40%

BioTime of Alameda, a biotechnology company focused on regenerative medicine, reported revenue figures yesterday. For the quarter ended September 30, 2011, revenue was up 40% compared to the same period last year.

BioTime’s revenue for the quarter was $1.1 million compared to $815,000 for the same quarter last year.

For the nine months ended September 30, 2011, BioTime’s revenue increased 20% to $2.7 million, compared to $2.3 million for the same period in 2010. The company still suffered a net loss per share, however, reporting a loss of $0.23 per share for the first nine months of the year, and a loss of $0.08 per share for the three month period that ended September 30th.

BioTime attributes the revenue increase to increased grant income and research product sales. Revenue and royalties from the sale of BioTime’s blood plasma expander product, Hextend, declined.

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