Obama & Clinton Criticize Bush Stem Cell Veto (STEM, GERN, ASTM)

Health and Healthcare

Published: June 20, 2007 5:10 pm

Stock Tickers: STEM, GERN, ASTM

Senator Obama has issued a statement regarding President Bush’s veto of the Embryonic Stem Cell Bill:

Senator Obama noted: "By vetoing funding for stem cell research once again, the President is deferring the hopes of millions of Americans who do not have the time to keep waiting for the cure that may save or extend their lives. The promise that stem cells hold does not come from any particular ideology, it is the judgment of science, and we deserve a President who will put that judgment first and make this promise real for the American people."

Hillary Clinton noted (condensed): "You know, later today, apparently, the president will veto a bill passed by Congress to support stem cell research……Now, this is research that…holds such promise for devastating diseases. Yesterday, I met with a group of children suffering from juvenile diabetes. I co-chair the Alzheimer’s caucus in the Senate. I’ve worked on helping to boost funding for research to look for cures and a way to prevent so many devastating diseases. And we know that stem cell research holds the key to our understanding more about what we can do. So let me be very clear: When I am president, I will lift the ban on stem cell research…. This is just one example of how the President puts ideology before science, politics before the needs of our families, just one more example of how out of touch with reality he and his party have become. And it’s just one more example as to why we’re going to send them packing in January 2009, and return progressive leadership to the White House."

Stem cell investing is an issue that is frankly more politically igniting than perhaps any other issue for investors. The key stem cell stocks that investors place bets on with the rise and fall of stem cell issues are StemCells Inc. (STEM-NASDAQ), Geron (GERN-NASDAQ), and Aastrom Biosciences (ASTM-NASDAQ). It is always interesting which politicians and which candidates are pro or con on political issues that have implications for individual stock sectors. If stem cell investing is yor primary focus, Obama is one of your friends. If not, well that answer is obvious too.

StemCells (STEM) closed down 2.3% at $2.48; Geron (GERN) closed down 3.1% at $7.39; and Aastrom (ASTM) closed down 2.1% at$1.39.

Jon C. Ogg
June 20, 2007

Jon Ogg can be reached at [email protected]; he does not own securities in any of the companies he covers

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