Health and Healthcare
Stem Cell Stocks Rise, Led By Athersys Inc. (ATHX, NBS, STEM)
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Stem cell stocks (tracked in Tickerspy’s Stem Cell Stock’s Index (*RXSTM) are up over 7% today, led by Athersys Inc (NASDAQ: ATHX). Athersys Inc. rose as high as 395% this morning following news that the company has entered into a deal with Pfizer (NYSE: PFE) to develop Athersys’s MultiStem, an experimental treatment for inflammatory bowel disease. Athersys recieved an intial payment of $6 million in addition to funding for research. Should the program be successful Athersys will recieved as much as $105 million as well as royalties from sales of the drug should it come to mark.
Other stem cell stocks received a big boost from the news. Neostem Inc. (AMEX: NBS), which operates a operates a center for the collection and storage of stem cell, rose as high as 7.6%. StemCells Inc. (NASDAQ: STEM), which attempts to treat organ disorders with stem cells, climbed as high as 7.2%
Garrett W. McIntyre
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