STEM sold 10,100 shares@1.71 - Gain of $3,800.00
StemCells Stock Up on Patent Receipt
Monday August 23, 8:30 am ET
StemCells Stock Skyrockets on Reports of Neural Stem Cell Patent
biz.yahoo.com
PALO ALTO, Calif. (AP) -- Shares in biotechnology research company StemCells Inc. skyrocketed in Nasdaq SmallCap pre-market activity Monday, following reports that the company received a patent for work covering composition of matter claims for the human neural stem cell.
Shares closed Friday at $1.46, but shot up nearly 25 percent, or 36 cents, to $1.82 in pre-market trading.
The company said the patent covers human neural stem cell cultures derived from any source, including embryonic as well as fetal, neonatal and adult tissue. Next year, StemCells plans to begin testing the potential of neural stem cells in the clinic to treat a wide range of diseases of, or injuries to, the central nervous system.
As reported, StemCells intends to file by the first quarter of 2005 for a clinical trial in Batten Disease, a rare, fatal neurodegenerative lysosomal storage disorder affecting the central nervous system. |
