"Today [02012.09.03] StemCells Inc. announced that interim six-month data from the first patient cohort in the Company's Phase I/II clinical trial of its proprietary HuCNS-SC(R) product candidate (purified human neural stem cells) for chronic spinal cord injury continues to demonstrate a favorable safety profile, and shows considerable gains in sensory function in two of the three patients compared to pre-transplant baselines. The third patient remains stable."
The company's press release included the following.
"To see this kind of change in patients who truly have the worst-of-the-worst type of injury to the spinal cord is very exciting. To our knowledge, this is the first time a sensory change of this magnitude has been reported in patients with complete spinal cord injury following a stem cell transplantation. We clearly need to collect more data to establish efficacy, but we are encouraged. We are pushing ahead with our trial and plan to dose the first patient with an incomplete injury soon."
STEM closed last week (Friday, 02012.08.31) at $2.17. 52-week range: $0.59 - $2.55.
[update::0212.09.04] STEM had quite a day. Previous close was $2.17; opened at $2.55; spiked to an intra-day high (and new 52-week high) of $2.67; closed at $2.20, up ~2.3% for the day. Volume was 13.7 million vs. trailing-3-month average of 1.9 million. 13.7 million shares is almost 50% of the float and 45% of all of the outstanding shares. Disclaimer: There is something about the STEM trading volume that I don't know about.
[update::0212.09.05] STEM closed at $2.13, down ~3.2%. Volume was 4.5 million. Intra-day low was $1.96. When it comes to STEM, volatility rules.
No comments:
Post a Comment