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Stellar Biotechnologies Reports Year-End 2014 Financial Results Company to Hold Conference Call at 1:30 p.m. ET Today PORT HUENEME, CA--(Marketwired

Key Takeaway: Stellar Biotechnologies Reports Year-End 2014 Financial Results Company to Hold Conference Call at 1:30 p.m. ET Today PORT HUENEME, CA--(Marketwired - Nov 13, 2014) - Stellar Biotechnologies, Inc. ("Stellar" or "the Company") (OTCQB: SBOTF) (TSX VENTURE: KLH), the leader in sus

Full Press Release Details

Stellar Biotechnologies Reports Year-End 2014 Financial Results
Company to Hold Conference Call at 1:30 p.m. ET Today
PORT HUENEME, CA--(Marketwired - Nov 13, 2014) - Stellar Biotechnologies, Inc. ("Stellar" or "the Company") (OTCQB: SBOTF) (TSX VENTURE: KLH), the leader in sustainable manufacture of Keyhole Limpet Hemocyanin ("KLH"), an important immune-stimulating protein used in wide-ranging immunotherapeutic markets, has reported preliminary financial results for the year ended August 31, 2014.
Fiscal Year Ended August 31, 2014 Results:
Operational Updates:
"Over the past year we significantly advanced a number of key programs in our core Stellar KLH manufacturing business. Of particular note is our recent expansion of KLH clinical supply agreements," said Frank Oakes, President and Chief Executive Officer of Stellar Biotechnologies, Inc. "Building a robust KLH customer base across diverse disease arenas is of strategic importance to Stellar because we believe it will generate long-term revenue potential as well as provide us with a presence in multiple important immunotherapy programs targeting cancers, immune disorders, inflammatory disease, and Alzheimer's."
The Company intends to file its Fiscal Year End 2014 Form 10-K on Friday, November 14, 2014. To view Stellar Biotechnologies' current and past reports and filings, consolidated financial statements, and Management Discussion & Analysis, please visit the Canadian Securities Administrators' website (www.sedar.com). To view the Company's filings under Form 20-F and Form 10-K, 10-Q and 8-K, please visit the U.S. SEC website (www.sec.gov/edgar).
Telecast and Webcast Information:
Date: Thursday, November 13, 2014
Time: 1:30 PM ET/10:30 AM PT
Participant Dial-in: 1-913-312-0380
Conference Call Participant Passcode: 9219736
Q&A submission: Questions for management may be submitted via the chat feature of the live online webcast.
Please log in at least 10 minutes before the start time to ensure timely participation and appropriate web interface platform.
For the live and archived webcast link, please visit the investor presentation section on Stellar Biotechnologies' website at: http://ir.stellarbiotechnologies.com/events-calendar
A replay of the call will be available approximately two hours after the live call through November 20, 2014. To access the replay, dial 1-888-203-1112 (if calling within United States and Canada) and 1-719-457-0820 (outside the U.S. and Canada). The replay passcode is 9219736. The webcast will also be archived on the Company website. For additional information please visit the Events Calendar of the Investors section at www.stellarbiotech.com.
About Stellar Biotechnologies, Inc.
Stellar Biotechnologies, Inc. (OTCQB: SBOTF) (TSX VENTURE: KLH) is the leader in sustainable manufacture of Keyhole Limpet Hemocyanin (KLH), an important immune-stimulating protein used in wide-ranging therapeutic and diagnostic markets. KLH is both an active pharmaceutical ingredient (API) in many new immunotherapies (targeting cancer, immune disorders, Alzheimer's, and inflammatory diseases) as well as a finished product for measuring immune status. Stellar Biotechnologies is unique in its proprietary methods, facilities, and KLH technology. We are committed to meeting the growing demand for commercial-scale supplies of GMP grade KLH, ensuring environmentally sound KLH production, and developing KLH-based active immunotherapies.
Vice President of Corporate Development and Communications
Phone: +1 (805) 488-2800 ext. 103
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may be identified by the use of words such as "anticipate," "believe," "plan," "estimate," "expect," "intend," "may," "will," "would," "could," "should," "might," "potential," or "continue" and variations or similar expressions. Readers should not unduly rely on these forward-looking statements, which are not a guarantee of future performance. There can be no assurance that forward-looking statements will prove to be accurate, as all such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results or future events to differ materially from the forward-looking statements. Such risks include, but may not be limited to: general economic and business conditions; technology changes; competition; changes in strategy or development plans; governmental regulations and the ability or failure to comply with governmental regulations; the timing of anticipated results; and other factors referenced in the Company's filings with securities regulators. For a discussion of further risks and uncertainties related to the Company's business, please refer to the Company's public company reports filed with the TSX Venture Exchange and the U.S. Securities and Exchange Commission. All forward-looking statements are made as of the date hereof and are subject to change. Except as required by law, the Company assumes no obligation to update such statements. This press release does not constitute an offer or solicitation of an offer for sale of any securities in any jurisdiction, including the United States. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the information contained in this press release.
Condensed Consolidated Statements of Financial Position
(Expressed in US Dollars)
August 31, August 31,
2014 2013
Assets:
Cash and cash equivalents $ 13,427,404 $ 7,859,889
Other current assets 643,266 274,633
Noncurrent assets 403,292 378,836
Total Assets $ 14,473,962 $ 8,513,358
Liabilities and Shareholders' Equity (Deficit):
Accounts payable, accrued liabilities and deferred revenue $ 541,626 $ 419,413
Warrant liability, including current portion 6,231,703 10,289,944
Shareholders' equity (deficit) 7,700,633 (2,195,999 )
Total Liabilities and Shareholders' Equity (Deficit) $ 14,473,962 $ 8,513,358
Condensed Consolidated Statements of Operations
(Expressed in US Dollars)
Year Ended
August 31, August 31, August 31,
2014 2013 2012
Revenues:
Contract services revenue $ 192,000 $ 60,000 $ 60,000
Product sales 143,553 76,055 131,825
Grant revenue 36,579 409,414 94,229
Total Revenues 372,132 545,469 286,054
Expenses:
Costs of revenues 760,259 604,215 535,925
Research and development 2,458,934 2,018,554 2,634,119
General and administration 2,871,455 1,770,619 3,662,009
Total Expenses 6,090,648 4,393,388 6,832,053
Other Income (Loss):
Foreign exchange gain (loss) (222,437 ) (95,842 ) 10,091
Change in fair value of warrant liability (2,533,305 ) (10,556,208 ) 897,549
Other income 61,935 4,990 109,881
Income tax expense 27,200 800 800
Net Loss $ (8,439,523 ) $ (14,495,779 ) $ (5,529,278 )
Loss per common share - basic and diluted $ (0.11 ) $ (0.28 ) $ (0.13 )
Weighted average number of common shares outstanding 75,826,642 51,611,944 43,775,766
Condensed Consolidated Statements of Cash Flows
(Expressed in US Dollars)
Year Ended
August 31, August 31, August 31,
2014 2013 2012
Cash Flows Used In Operating Activities:
Net loss $ (8,439,523 ) $ (14,495,779 ) $ (5,529,278 )
Items not affecting cash:
Depreciation and amortization 158,313 124,833 112,144
Share-based payments 956,634 786,585 1,923,200
Foreign exchange (gain) loss 222,437 95,842 (10,091 )
Change in fair value of warrant liability 2,533,305 10,556,208 (897,549 )
Loss on disposal of property, plant and equipment 3,670 - -
Impairment loss 90,476 - -
Fair value of shares issued for research license - 491,408 -
Changes in working capital items 207,981 (354,920 ) 453,760
Net cash used in operating activities (4,266,707 ) (2,795,823 ) (3,947,814 )
Net cash used in investing activities (741,415 ) (9,541 ) (78,338 )
Net cash provided by financing activities 10,787,975 9,730,826 877,210
Effect of exchange rate changes on cash and cash equivalents (212,338 ) (64,571 ) 2,448
Net change in cash and cash equivalents 5,567,515 6,860,891 (3,146,494 )
Cash and cash equivalents - beginning of year 7,859,889 998,998 4,145,492
Cash and cash equivalents - end of year $ 13,427,404 $ 7,859,889 $ 998,998
Last updated: Nov 13, 2014