Future were up this am and then dropped dramatically (just after our RegMed pre-open message) after the German government played down hopes that a solution to EU’s debt crisis was imminent. A batch of weak earnings reports also weighed on stocks.
Concerns about a messy default by the Greek government have been the main cause behind many of the stock market’s big swings lately. The fear is that the lack of lending between banks could escalate into another financial crisis similar to the one that occurred in 2008 after the collapse of Lehman Brothers.
Reiterating from this am: ”I am … so sick of EU rumors and want to … buy or sell on FACTS! We need to reduce our (co)dependence on EU markets and issues. I can’t rally about … nothing … or the potential of something (or anything)”! At 11:30 am, EST, the Dow was down 130 points, or 1.1%, to 11,511. The S&P 500 index slid 12, or 1%, to 1,212. The losses were widespread. The NASDAQ composite fell 24, also 1%, to 2,643. So much for measurement tools …
Mid-Day: The NASDAQ is DOWN 49.93 (-1.87%) to 2,617.92. The Dow is DOWN -171.28 (-1.47%) to 11,473.21.
Mid-Day Movers: Neuralstem (AMEX: CUR)
What’s new in the regenerative medicine/stem cell market …
NeoStem (AMEX: NBS) finalizes Amorcyte Acquisition: NYSE Amex: NBS announced today the closing of their previously announced merger transaction of Amorcyte, following approval by the shareholders, and intends to initiate a P2 clinical trial for Amorcyte’s lead product candidate, AMR-001 by Q1/12, AMR-001, for the treatment of acute myocardial infarction (AMI). http://www.scimitarequity.com/blog/2011/10/17/neostem-amex-nbs-finalizes-amorcyte-acquisition
Dendreon (NASDAQ:DNDN) enrolls in P2 Neu-ACT Trial: 1st Patient Enrolled in HER2+ bladder carcinoma study; the 2nd Active Cellular Immunotherapy Product Candidate, DN24-02. DNDN has begun enrolling patients into a P2 trial for DN24-02, investigational active cellular immunotherapy being evaluated for the treatment of HER2 positive cancer. http://www.scimitarequity.com/blog/2011/10/17/dendreon-dndn-enrolls-in-p2-neu-act-trial
Athersys (NASDAQ:ATHX) completion of P1 Patient Enrollment for Hematopoietic Stem Cell Transplant Trial: P1 Study of MultiStem(NYSE:R) targeting risk for Graft Versus Host Disease. ATHX has completed patient enrollment of the repeat dose arm of its clinical study involving administration of MultiStem^® to patients being treated for leukemia or other blood born cancers. http://www.scimitarequity.com/blog/2011/10/17/athersys-athx-completion-of-p1-patient-enrollment-for-hematopoietic-stem-cell-transplant-trial