Cesca Therapeutics Inc. (KOOL) saw its loss widen to $22.44 million in the quarter ended compared with $3.40 million a year ago.

Revenue during the quarter surged 33.44 percent to $3.77 million from $2.82 million in the previous year period. Gross margin for the quarter expanded 2369 basis points over the previous year period to 36.69 percent.

Operating loss for the quarter was $1.95 million, compared with an operating loss of $3.91 million in the previous year period.

Adjusted EBITDA for the quarter stood at negative $1.39 million compared to negative $3.21 million in the prior year second quarter.

"I am pleased with the results for the quarter," Dr. Xiaochun "Chris" Xu, our interim chief executive officer, commented. "Our long-term goal is first and foremost to continue to build a company that has a strong leadership position in point-of-care devices, providing the clinician with in-the-operating-room-use of cellular processing capabilities; and secondly, to continue to build a robust pipeline for autologous cell-based therapeutics, ultimately providing Cesca with a competitive advantage in the growing regenerative medicine field."

The company has spent $0.15 million cash to meet investing activities during the quarter as against cash outgo of $0.19 million in the last year period.

Cash flow from financing activities was $1.93 million for the quarter, down 58.86 percent or $2.77 million, when compared with the last year period.

Cash and cash equivalents stood at stood at $5.61 million as at Sep. 30, 2016.