Advanced Cell Technology Inc. (OTC: ACTC), a biotechnology company engaged in the development and commercialization of human embryonic and adult stem cell technology in the field of regenerative medicine, has seen a sharp decline in early trading today.
ACTC shares are currently trading 10.26% lower at $0.0700 on above average volume of 7.25 million. The stock has fallen more than 12% in the last three trading sessions.
Advanced Cell Technology this month released its first-quarter financial results. For the quarter ended March 31, 2012, ACTC reported a loss from operations of $5.4 million. This compares with a loss from operations of $4.8 million reported in the same period in 2011. The Marlborough, Massachusetts-based company reported net loss of $5.7 million for the quarter, compared with net loss of $3.3 million reported in the first quarter of 2011.