Who ever was UP yesterday is down today … a trader mentality abounds … unfortunately many under-priced companies will be SOLD to utilize a … tax loss for the year… and hopefully … come back to shareprice growth!
On the macro front, the outcome of Friday’s 27-nation European Union summit may determine the course of the world’s largest trading bloc. One road leads to a core group of euro zone states forging ahead with closer integration; another to a continuation of the current, multispeed Europe limping along at the pace of the slowest in the convoy; and a third toward a potential breakup of the currency and disintegration of the Union.
Mid-Day: The NASDAQ is DOWN -11.05 (-0.42%) to 2,668.00. The Dow is UP +144.63 (+1.20%) to 12,164.05.
Mid-Day Movers: Aastrom (ASTM), StemCells (STEM) and Tengion (TNGN)
What’s new in the regenerative medicine/stem cell market …
Tengion (TNGN) new CEO: John L. Miclot has been appointed CEO of TNGN) as it recasts its business model and pursues strategic partnership discussions. The Bottom Line: Tengion revealed a restructuring plan as part of Q3/11 earnings that involved cutting 30 from its workforce and centralizing its R&D operations in its leased facility in Winston-Salem, North Carolina. TNGN needs to pursue strategic partnership and financing discussions; hopefully, his experience will help achieve key TNGN milestones in 2012. TNGN has an organ regeneration program using patients’ cells. Among its pipeline programs are a Neo-Kidney Augment program, intended to prevent or delay the need for dialysis or kidney transplant by catalyzing the regeneration of functional kidney tissue in patients with advanced chronic kidney disease, which has completed P2 clinical trials. TNGN expects to submit a pre-investigational new drug filing with the FDA in the first half of 2012. It has initiated a PI clinical trial for its Neo-Urinary Conduit in patients with bladder cancer who require a total cystectomy. http://www.scimitarequity.com/blog/2011/12/06/tengion-tngn-new-ceo/
Artificial chromosomes are possible route for gene therapy: The use of artificial chromosome techniques, designed to add corrective gene-carrying chromosomes to patients’ cells, may help reduce the risk of disruption between genes and control the number of copies of genes inserted into cells, experts reported in the Proceedings of the National Academy of Sciences. Artificial chromosomes also could be easily deactivated, researchers added.