Shares of Advanced Cell Technology Inc. (OTC: ACTC), a biotechnology company focused on the development and commercialization of human embryonic, induced pluripotency, and adult stem cell technology in field of regenerative medicine, has risen sharply in trading today.
Advanced Cell Technology shares are currently trading 9.83% higher at $0.0693 on above average volume of 8.62 million.
Advanced Cell Technology shares are gaining momentum after the company announced that it secured approval to move forward with increased RPE dosage for patients in clinical trial for dry age-related macular degeneration (dry AMD).
ACTC said that the Data and Safety Monitoring Board (DSMB), which is an independent group of medical experts closely monitoring the company’s three ongoing clinical trials, gave approval to the company to proceed with enrollment and treatment of additional patients in its clinical trial for dry AMD.
With the DSMB authorization, Advanced Cell Technology will now move forward with patient screening and enrollment for the second cohort. As per the trial protocol, the second cohort will be injected with 100,000 retinal pigment epithelial (RPE) cells derived from hESCs, which is twice the dosage given to the first cohort.
Dry AMD is one of the largest unmet ophthalmological needs in the world. According to Gary Rabin, Chairman and CEO of Advanced Cell, dry AMD represents a potential market of $25 billion in the U.S. and Europe alone.
Rabin said that the DSMB approval to move to the higher dosage of cells in the clinical trial for dry AMD represents a major milestone for Advanced Cell’s clinical programs. Rabin said that ACTC’s RPE program is now advancing rapidly, as the company is now screening at multiple ophthalmological centers for the fourth surgery in both its dry AMD trial and its U.S. SMD trial. |
