Cesca Therapeutics Inc., a Rancho Cordova medical technology company, reported a $2.4 million fourth-quarter loss Thursday.
The earnings report came two days after Cesca laid off 15 workers as part of a cost-cutting effort aimed at trimming annual expenses by $3.3 million.
Cesca said it lost $2.4 million, or 6 cents a share, in the quarter that ended June 30. That compared with a loss of $2.9 million, or 8 cents a share, a year earlier. Revenue fell to $3.7 million from $3.8 million.
For the full fiscal year, Cesca’s losses grew to $14.9 million from $8.6 million. Revenue was up slightly to $16 million.
Never miss a local story.
Cesca makes products for storing blood. Formerly known as Thermogenesis, it merged with a regenerative medicine company last year and is working to develop products and systems in that field. Regenerative medicine is the science of healing damaged tissues and organs.
“This first full year of operation for Cesca Therapeutics as a fully integrated regenerative medicine company has been challenging on a number of fronts,” said Chief Executive Robin Stracey in a prepared statement. “While we have yet to come close to realizing the full potential of the merger ... we have made very substantial progress.”