Cellular therapies and tissue engineering company Lattice Biologics Ltd (TSX-V:LBL) (OTCBB:LBLTF) stated on Monday that it recorded a net loss of USD0.3m (USD0.00 per share) for the third quarter of 2020.

This is flat when compared with a net loss of USD0.3m (USD0.00 per share) for the same period in the prior year.

Gross profit of USD0.1m was recorded for the three months ended 30 June 2020, down over USD0.2m in the comparable previous year.

Sales of USD0.5m were announced for the three months ended 30 June 2020, a dip from sales of USD0.4m in the third quarter of 2019.

Lattice Biologics' CEO Guy Cook said the company has continued to maintain its relationship with critical customers during the COVID-19 pandemic, with sales increasing 13% year over year. It expects revenues to continue to grow to the USD3.5 to 4.0m range for 2021.