Biostage FY2021 net loss widens to $8.0M on $3.3M litigation charge and higher legal costs

Harvard Apparatus Regenerative Technology, Inc.

2022-Q1 EPS reported -$0.20

Q4 2021 net loss of $5.9M ($0.55/share) vs $1.0M loss in Q4 2020; FY2021 loss $8.0M ($0.79/share).
Loss increase driven by $3.3M contingency charge for wrongful death litigation and $1.3M legal fees for insurance coverage.
Operating cash at Dec 31, 2021: $1.2M; management expects funding into early Q3 2022.
Proceeds of $2.8M from private placements (1,372,464 shares + warrants) helped offset $2.6M operating cash burn.
R&D costs decreased $0.5M in FY2021; notes payable forgiveness contributed $0.4M gain.

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