Stem Cell Therapeutics Corp. Announces Year End 2009 Financial Results

CALGARY, ALBERTA--(Marketwire - April 13, 2010) - Stem Cell Therapeutics Corp. ("SCT") (TSX VENTURE:SSS) today announced its financial results for the period ended December 31, 2009.

Operating Highlights from 2009 and the period ending April 13, 2010:

• Presented positive final results for the BETAS Phase IIa clinical safety study in stroke in February 2009, including all U.S. and Canadian patient data
• Received FDA approval to proceed with the modified REGENESIS Phase IIb acute ischemic stroke trial
• Initiated and began enrolling patients in India and Canada for the modified REGENESIS Phase IIb acute ischemic stroke trial
• Completed enrollment in modified REGENESIS Phase IIb acute ischemic stroke study; Q1 10

2010 Objectives

• Report Top-line REGENESIS Phase IIb data; Q2 10
• Complete preclinical study for hemorrhagic stroke; H2 10
• Complete 'end of Phase II' meeting with FDA; H2 10
• Initiate and enroll patients in a Phase IIa TBI clinical study; H1 10
• Initiate MS clinical Proof-of-Concept study; H2 10

Capital Position

As of December 31, 2009, the working capital (current assets minus current liabilities) of the Company was $4,100,869 ($5,803,377 as of December 31, 2008).

Outstanding securities as of December 31, 2009 totaled 152,905,004 common shares, 34,070,983 common share purchase warrants and 14,012,500 common share options. On April 13, 2010 there were 153,005,004 common shares, 33,970,983 common share purchase warrants and 14,012,500 common share options outstanding.

Financial Review

The Company's loss for the year ended December 31, 2009 decreased by $902,624 to $4,656,893 ($0.03 per common share) from the loss of $5,559,517 ($0.05 per common share) reported for the year ended December 31, 2008. The primary reason for the decrease in loss was a decrease in general and administration expense, management and consulting fees, research and development expenses, professional fees and because there was no deemed interest paid in the year. The decrease in these expenses was partially offset by the recording of a foreign exchange loss, as well as a decrease in interest income and an increase in stock option expense.

Dr. Alan Moore, President & CEO of SCT commented as follows:

"2009 was a game-changing year for us as a Company. Working with the FDA and Health Canada to lift the clinical hold and then completing enrollment in the key phase IIb modified REGENESIS study were major accomplishments putting the Company in a strong position heading into 2010.

Additionally, the commitment that senior management showed to the Company in 2009, through their salary reductions and deferring any bonus payments, has resulted in us maintaining a strong financial position to complete our work in 2010."

About Stem Cell Therapeutics Corp.: Stem Cell Therapeutics Corp. is a Canadian public biotechnology company (TSX VENTURE:SSS) focused on the development and commercialization of drug-based therapies to treat central nervous system diseases. SCT is a leader in the development of therapies that utilize drugs to stimulate a patient's own resident stem cells. The Company's programs aim to repair neurological function lost due to disease or injury. SCT's extensive patent portfolio of owned and licensed intellectual property supports the potential expansion into future clinical programs in numerous neurological diseases such as traumatic brain injury, multiple sclerosis, Huntington's disease, Alzheimer's disease, and ALS.

These securities have not been registered under the United States Securities Act of 1933, as amended, or the securities laws of any state, and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons unless an applicable exemption from U.S. registration requirements is available.

Except for historical information, this press release may contain forward-looking statements, which reflect the Company's current expectation regarding future events. These forward-looking statements involve risk and uncertainties, which may cause but are not limited to, changing market conditions, the successful and timely completion of clinical studies, the establishment of corporate alliances, the impact of competitive products and pricing, new product development, uncertainties related to the regulatory approval process and other risks detailed from time to time in the Company's ongoing quarterly and annual reporting.