Business & Real Estate

Rancho Cordova’s Cesca reports fiscal year loss of $29.1 million

Rancho Cordova’s Cesca Therapeutics Inc., a stem cell medicine and medical technology company, this week reported a net loss of $29.1 million, or $3.27 per share, for its fiscal year ended June 30.

The company reported a loss of $18.6 million, or $7.57 a share, in the prior fiscal year.

Revenue in the just-completed fiscal year totaled $14.5 million, up from $11.9 million the previous year. The company reported increased shipments overseas to China and Europe.

In July, Cesca announced that its subsidiary, ThermoGenesis Corp., had acquired the assets of SynGen Inc., the privately held Sacramento medical device company specializing in cell separation and cord-blood-processing products.

That deal essentially joined two of the most prominent local companies involved in stem cell medicine.

The financial impacts of the deal are expected to be more prominently reflected in the next two quarters, closing out 2017.

Mark Glover: 916-321-1184, @markhglover