RT--Huh VS Huhn...
StemCells, Pfizer stand out in drug sector
By Val Brickates Kennedy, MarketWatch
Last Update: 3/14/2011 03:48:33 PM
BOSTON (MarketWatch) -- StemCells Inc. was a notable stand-out in drug stock
trading Monday afternoon, with shares rising on news that the company had begun
testing its stem cell therapy for the treatment of spinal cord injury.
StemCells (STEM) shares gained 5% to 85 cents in late afternoon trading.
The biotech group said it has initiated a Phase I/II clinical trial that will
test human neural stem cells as a treatment for chronic spinal cord injury.
In an interview with MarketWatch, StemCells management said that their trial
differs from one being run by rival Geron Corp. (GERN) , which they say is using
stem cells to treat recently-injured patients who have no sensation or motor
ability below the area of injury.
According to Stephen Huhn, who is heading up the program for StemCells, the
company will be testing its product on patients three to twelve months after
their spinal injuries were sustained.
In addition, the StemCells trial will included a wider variety of patients, said
Huhn. The trial will first test the product on patients with a complete loss of
function below the area of injury, and then include those who have some feeling
in the affected area. The study will finally progress to include those who have
some feeling and motor ability in the area below the line of injury.
"It's a progressive trial design," said Huhn, adding that the company believes
the therapy would probably best benefit those patients who have regained or
retained some sensation and motor ability a few months after their accident.
StemCells Chief Executive Officer Martin McGlynn added that the company hopes to
file with regulators later this year to begin testing the therapy on patients
with age-related macular degeneration, a leading cause of vision loss.
Shares of Pfizer (PFE) climbed 2%, after hitting an intra-day peak of $20.26,
boosted in part by a report from analysts at Sanford C. Bernstein speculating the
industry giant might soon be divesting itself of its lower-margin businesses,
such as generic drugs and consumer health care products.
In 2009, Pfizer merged with Wyeth in a mega-merger valued at around $68 billion.
The drug sector's two leading indexes slipped, echoing the Dow Jones Industrial
Average (DJIA) , which slid over 75 points on concerns about the level of
devastation in Japan caused by last week's catastrophic tsunami.
The NYSE Arca Pharmaceutical Index (DRG) fell 0.6% to 303.95 while NYSE Arca
Biotechnology Index (BTK) declined 0.4% to 1280.53.
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Sector garnering more attention. |
