Dow futures were down about 250 points to 11,155, and S&P futures were down 28 points to 1,169.Japan’s Nikkei index had fallen 2.2% and the HangSeng index in Hong Kong had dropped 3.4%. South Korean markets had fallen more precipitously; at least 1 index fell about 10% briefly and trading actually had to be halted but the markets calmed somewhat after they reopened and the Kospi was more recently down 3.8%.
Stocks opened sharply lower Monday, 8/8/11 and within minutes of the opening bell; the broader market was down 22.68 points, or 1.89%. The Dow was down 178.01 points, or 1.56% and the NASDAQ was down 45.1 points, or 1.82%.
The NASDAQ is now … DOWN -115.39 (-4.56%) to 2,417.02. The Dow is DOWN -409.19 (-3.58%) to 11,035.42. Remembering, my old and recent fear component; the DOW is still UNDER 12,000.
Regenerative medicine/stem cell universe shares on 8/8/11 are “living in the tail risk” …
What’s new in the regenerative medicine/stem cell market …
Advanced Cell Technology (ACTC.OB) Q2/11 Results: A net loss of $4.82 M or $0.00 per share; revenue for Q2/11 was $153.7K minus the cost of revenue equated a profit loss of $127.8K. R&D expense was $1.53M. G&A expense was $1.95M. Non-operating income expense was – ($1.2M). The change in non-operating income (expense) relates primarily to the change in fair value of derivatives. The fair value of the derivative liabilities decreased by $701K. ACT incurred approximately $245.7K in financing costs associated with the Gemini Master Fund warrant settlement. Interest expense was $272.7K. The decrease in interest expense is due to the decrease in the overall debt. Cash was $16.1M
NeoStem (AMEX: NBS) Receipt of $1.78M in DOD Funding for its VSEL™ Technology to Treat Osteoporosis: Department of Defense (NYSEARCA:DOD) Peer Reviewed Medical Research Program (PRMRP) of the Office of the Congressionally Directed Medical Research Programs (CDMRP) has awarded NBS $1,780,049 to be applied towards funding the Company’s VSEL™ Technology. The award is being made under NBS’s FY2010 Technology/Therapeutic Development Award application number PR101055. The bottom line, Non-dilutive capital and external peer-reviewed validates the value of this research platform. VSEL™ Technology holds great potential, beyond bone marrow derived mesenchymal stem cell approaches as these cells hold the promise of natural pluripotency i.e. to differentiate into all three germ layers. As such, these cells have the potential to move the regenerative medical field beyond the classic paracrine mechanisms (neo-angiogenesis and down-regulation of inflammation) toward tissue and bone repair and regeneration. NBS has shown that these cells can be mobilized into the peripheral blood, enabling a minimally invasive means for collecting what NeoStem believes to be a population of stem cells that the potential to achieve the positive benefits associated with embryonic stem cells without the ethical or moral dilemmas or the potential negative biological effects associated with embryonic stem cells.
Most GOP presidential aspirants don’t plan to back stem cell funding: Most Republicans who have announced plans to run for president in 2012 oppose expanding government funding for research involving human embryonic stem cells because they associate such research with abortions. The bottom line, All this stopping and starting makes it very difficult for research projects to proceed. http://www.boston.com/news/science/articles/2011/08/07/most_gop_candidates_oppose_stem_cell_funding/?page=full. 62% of Americans feel embryonic stem cell research is morally acceptable. Representatives of various disease associations continue to advocate for more federal funding for research on embryonic stem cells because of the life-saving potential such science holds.
Researchers develop culture method for blood stem cells: Researchers from the University of Texas Southwestern Medical Center have developed a culture method that allowed for transplanted adult blood stem cells not to be attacked by the immune system. The cultured blood stem cells were successfully transplanted in mice, according to the study that was scheduled to be published Friday in Cell Stem Cell. The bottom line, this method could help prevent rejection of transplanted cells in patients with blood cancers, including leukemia, lymphoma and myeloma.
AnC Bio to set up research and manufacturing facility in Vermont: The South Korean firm that develops heart-lung pumps and conducts stem cell research, will open a research and production plant in Newport, Vt., that is expected to create 200 jobs. A federal program, called EB-5, that offers foreign companies U.S. residency in exchange for job creation, encouraged the biotech company to set up facility in Vermont. http://www.wptz.com/r/28783119/detail.html. The bottom line, will AnC Bio seek a listing to raise money in the US markets to build and hire?
GSK taps MolMed to develop production method for gene therapy: GlaxoSmithKline signed an agreement that calls for MolMed, an Italian biotech company, to create a production process for an experimental gene treatment for ADA-SCID, also known as adenosine deaminase deficiency-severe combined immune deficiency or “bubble boy disease.” The two-year deal is worth $7.7M. The most common treatment for the disease is a bone marrow transplant, but even matched or related donor cells carry the risk of rejection. http://www.medcitynews.com/2011/08/gsk-moves-to-develop-gene-therapy-for-bubble-boy-disease/?edition=pharmaceuticals The bottom line, the investigational gene therapy being developed by GSK uses gene transfer technology. ADA-SCID is caused by the alteration of a single gene. That alteration prevents the body from producing the enzyme adenosine deaminase (ADA), an enzyme that helps create disease-fighting immune cells. Patients who have the condition can’t fight bacteria or viruses.
UK stem cell funding aims to help transfusions and transplants: Cell Guidance Systems (CGS) received more than $160K from the British government-supported Technology Strategy Board to develop new technologies for stem cell development. CGS will initially focus on developing a technology that will help create blood cells for transfusion and cord-blood alternatives to bone marrow transplants. http://www.businessweekly.co.uk/biomedtech-/12511-stem-cell-science-firm-wins-p100k-government-cash The bottom line, there are many cellular therapies which may benefit from this effect. CGS is focusing on the use of the technology to aid development of blood cells for transfusion and the use of cord blood alternatives to bone marrow transplant. As with other cellular therapies, the huge costs of growth factors are inhibiting progress, making the generation of blood cells commercially unfeasible.