Osiris loses $11.5M in first quarter

Baltimore-based Osiris Therapeutics Inc. reported first-quarter losses of $11.5 million compared with a net loss of $5.1 million for the same period in 2006. The company attributed expenses incurred for expanding its Osteocel manufacturing facility and clinical trials of other drugs for the losses, according to a release. Sales of the drug Osteocel, which contains stem cells and is used for bone grafting, were $2 million, up from $1.1 million in the first quarter of 2006. Research and development costs rose from $4.4 million in 2006 to $11 million in 2007.