The company also could well receive $20
million more if its appeal on another award from the California stem
cell agency is successful.
StemCells, Inc., founded by Stanford
researcher Irv Weissman, has seen its stock plummet as low as 59
cents during the last 12 months. On July 16, its price stood at 88
cents. On July 17, it jumped to $1.80. Today it is running about
$2.28 at the time of this writing. (The latest stock price can be found here.)
All of which is to the benefit of
Weissman, who acquired 15,433 shares of StemCells, Inc., on July 2 at
no cost. According to SEC filings, the stock was given by the
company to Weissman as a quarterly retainer for his services on the
firm's scientific advisory board. Weissman also serves on the board
of directors and currently holds 88,612 shares of the company.
Most of the good news about the company
focused on its research into an Alzheimer's therapy. The California
Stem Cell Report also reported on July 18 that the company was in line
for a $20 million award from CIRM for its spinal cord injury therapy.
CIRM's grant reviewers rejected the company's bid for $20 million for
an Alzheimer's treatment but the firm is appealing that decision to
the full board. (See here and here.)
Here are links to recent stories on
StemCells, Inc.
Seeking Alpha by Chris Katje – July
17
California Stem Cell Report by David
Jensen – July 18
First public report that StemCells,
Inc. was in line for a $20 million loan from CIRM development of
human neural stem cells to treat chronic cervical spinal cord injury
Technology Review by Susan Young –
July 24
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