UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
May 21, 2014
AMARANTUS BIOSCIENCE HOLDINGS, INC.
(Exact name of registrant as specified in
its charter)
Nevada |
333-148922 |
26-0690857 |
(State or other jurisdiction of
incorporation or organization) |
(Commission File Number) |
IRS Employer
Identification No.) |
c/o Janssen Labs @QB3
953 Indiana Street
San Francisco, CA |
94107 |
(Address of Principal Executive Offices) |
(Zip Code) |
(408) 737-2734
(Registrant’s telephone number, including
area code)
Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨
Written communications pursuant to Rule 425 under the Securities Act
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
| Item 2.02 | Results of Operations and Financial Condition. |
On
May 21, 2014, Amarantus Bioscience Holdings, Inc. (the “Company”) issued a press release announcing its financial results
for the three months ended March 31, 2014. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form
8-K.
The information disclosed under this Item 2.02,
including Exhibit 99.1 hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18
of the Securities Exchange Act of 1934, as amended, nor shall it be incorporated by reference into any registration statement or
other document pursuant to the Securities Act of 1933, as amended, except as expressly set forth in such filing.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
Exhibit
No. |
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Description |
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99.1
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Press Release of Amarantus Bioscience Holdings, Inc. dated May
21, 2014 |
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
thereunto duly authorized.
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AMARANTUS BIOSCIENCE HOLDINGS, INC. |
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Date: May 21, 2014 |
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By: |
/s/ Gerald E. Commissiong |
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Name: Gerald E. Commissiong |
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Title: Chief Executive Officer |
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Amarantus Reports First Quarter 2014
Financial Results
SAN FRANCISCO, May 21, 2014 (GLOBE NEWSWIRE) -- Amarantus Bioscience
Holdings, Inc. (AMBS), a biotechnology company focused on the discovery and development of novel diagnostics and therapeutics related
to endoplasmic reticulum stress, cell cycle dysregulation, neurodegeneration and apoptosis, today reported financial results for
the first quarter ended March 31, 2014. At March 31, 2014, the Company had cash and cash equivalents totaling approximately $3.8
million.
"We were able to significantly improve capital resources
during the first quarter," said Robert Farrell, J.D., Chief Financial Officer of Amarantus. "With approximately $3.8
million in cash and equivalents, and an additional $19.6 million of equity capital available under a financing facility with Lincoln
Park Capital Fund, LLC, we are now well positioned to accelerate our product development initiatives."
For the first quarter of 2014, the Company reported a net loss
of approximately $5.5 million, or $(0.01) per share, compared with a net loss of approximately $4.6 million, or $(0.01) per share,
for the first quarter of 2013.
During the first quarter this year, research and development
costs were approximately $517,000, compared to approximately $664,000 in the first quarter of 2013. This decrease resulted primarily
from a reduction in stock-based compensation expenses. General and administrative (G&A) expenses also decreased, with first
quarter 2014 G&A expenses of $1.1 million, compared with first quarter G&A expenses of $1.2 million in 2013. This decrease
resulted primarily from reductions in consulting and professional expenses, as well as a reduction in stock-based compensation
expenses.
Other expenses in the first quarter of 2014 were approximately
$3.9 million, compared to approximately $2.8 million in the first quarter of 2013. The increase in other expenses from 2013 to
2014 was primarily due to non-cash expenses related to the issuance of new warrants in the first quarter of 2014.
Gerald E. Commissiong, President & CEO of Amarantus stated,
"I am extremely pleased with our current position, as we can now focus on the execution of our business plan to transform
Amarantus into a commercial-stage company. We have made significant progress in the CLIA partnering selection process for LymPro
and are now fine-tuning development with Becton Dickinson in preparation for its commercial launch later in 2014. Concurrently,
we are preparing to engage with the EMEA and FDA in the months ahead regarding the trial design for Eltoprazine's late-stage clinical
development, as well as preparing to engage with the FDA's Office for Orphan Products Development regarding MANF's development
as a disease-modifying treatment for Retinitis Pigmentosa. We foresee significant growth ahead for the Company with our current
portfolio, and will continue to strategically assess both in-licensing and out-licensing transactions that we believe will be accretive
to shareholder value. Our holding company business strategy is taking shape, and we believe our expansion into the European market
via our Geneva office will open significant opportunity for the Company. I am very confident in our future."
About Amarantus
Amarantus is a biotechnology company developing treatments and
diagnostics for diseases associated with neurodegeneration and protein misfolding-related apoptosis. The Company has licensed Eltoprazine
a phase 2b ready indication for Parkinson's Levodopa induced dyskinesia. The Company has an exclusive worldwide license to the
Lymphocyte Proliferation test ("LymPro Test(R)") for Alzheimer's disease and owns the intellectual property rights to
a therapeutic protein known as Mesencephalic-Astrocyte-derived Neurotrophic Factor ("MANF") and is developing MANF-based
products as treatments for brain disorders. Amarantus is a Founding Member of the Coalition for Concussion Treatment (#C4CT), a
movement initiated in collaboration with Brewer Sports International seeking to raise awareness of new treatments in development
for concussions and nervous-system disorders. The Company also owns intellectual property for the diagnosis of Parkinson's disease
("NuroPro") and the discovery of neurotrophic factors ("PhenoGuard"). For further information please visit
www.Amarantus.com, or connect with the Company on Facebook, LinkedIn, Twitter and Google+.
Certain statements, other than purely historical information,
including estimates, projections, statements relating to our business plans, objectives, and expected operating results, and the
assumptions upon which those statements are based, are forward-looking statements." These forward-looking statements generally
are identified by the words believes," project," expects," anticipates," estimates," intends," strategy,"
plan," may," will," would," will be," will continue," will likely result," and similar expressions.
Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which
may cause actual results to differ materially from the forward-looking statements. Our ability to predict results or the actual
effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse effect on our operations
and future prospects on a consolidated basis include, but are not limited to: changes in economic conditions, legislative/regulatory
changes, availability of capital, interest rates, competition, and generally accepted accounting principles. These risks and uncertainties
should also be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements.
Contact:
Investor/Media Contacts
Aimee Boutcher, Director of Investor Relations
Amarantus Bioscience Holdings, Inc.
408-737-2734 x 101
ir@amarantus.com
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