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Thread: Stemcells inc may be in trouble

  1. #1

    Stemcells inc may be in trouble

    Stem shares we're going for a 1.22 about two months ago, now shares have dropped to .85 cents I bet that their clinical trial will be canceled anytime soon.

  2. #2
    The stock price of StemCells, Inc., of Newark, Ca., plummeted nearly 11 percent today following a federal filing that it had lost its $19 million award from the California stem cell agency.

    Termination of the Alzheimer's research award to the publicly traded company was announced last Thursday by the $3 billion state agency. The publicly traded firm filed a report with the Security and Exchanges Commission on Friday, but it was not seen widely until today.

    The company's brief, SEC filing said the forgivable loan was cancelled because of a failure to meet a milestone it had negotiated with the stem cell agency. The filing echoed comments by CIRM.

    Here's the LINK:

  3. #3
    Well, that is unfortunate. Question is will they recover. Maybe they can renegotiate that loan.

  4. #4
    Quote Originally Posted by JamesMcM View Post
    Well, that is unfortunate. Question is will they recover. Maybe they can renegotiate that loan.
    It was for an Alzheimer's research award which was a forgivable loan anyway...

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