[02012.07.27] ~3.5M STEM shares traded yesterday (02012.07.26). That's approximately 15% of the float. STEM closed at $1.78, down 15+% for the day. Prior the market opening today (02012.07.27), StemCells Inc. announced the following.
"The California Institute for Regenerative Medicine has approved an award to the Company [StemCells Inc.] and its collaborators for up to $20 mln under CIRM's Disease Team Therapy Development Award program. The award is to fund preclinical development of co's proprietary HuCNS-SC product candidate as a potential treatment for cervical spinal cord injury."
My guess is today will be yet another high volume day.
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