Advanced Cell Technology (OTCQB:ACTC) held a conference call last night to provide a corporate update. It was the first opportunity for many to hear from the company's new CEO, Paul Wotton. Doctors Eddie Anglade and Robert Lanza also played large parts on the call; the latter may be of relief to some investors who had doubts about Lanza's status with the company, and place more importance on it than I do.
The call contained three new pieces of information:
- The most immediately important was news of DSMB (data safety monitoring board) approval for the final cohort of patients in the company's Phase I trials. This was one of the 7 steps I outlined for Advanced Cell Technology to rebuild shareholder value and trust. It represents official approval, rather than news from the company, and discussions with regulators on both sides of the Atlantic are now complete. This is the strongest sign yet that ACT's plans to enter Phase II by the end of the year are on track.
- Discussion of new proprietary processing technology from ACT that will increase the shelf life of generated cells, thus greatly enhancing marketability. While details are still sparse, I would not be surprised if such a method had applicability far beyond ophthalmology and the current treatments.
- Announcement that ACT has been granted a patent on the company's single blastomere technology last week. This is of value and marks a nice contrast from my first ACTC article.
The rest of the call simply re-affirmed Advanced Cell Technology's plans to publish interim data, and its commitment to reverse split and up-list in the near future. While some may have been looking for more ground-breaking news, this call was a good one, as I predicted. ACT continues to take the necessary steps, and the upcoming publication should be a major event for the company and shareholders. 3 steps down, 4 to go...
Disclosure: The author is long ACTC. The author wrote this article themselves, and it expresses their own opinions. The author is not receiving compensation for it (other than from Seeking Alpha). The author has no business relationship with any company whose stock is mentioned in this article.
Editor's Note: This article covers one or more stocks trading at less than $1 per share and/or with less than a $100 million market cap. Please be aware of the risks associated with these stocks.