Volatile moves in stem cell stocks
Stem cell stocks, which have come to the fore since President Barack Obama gave his backing to this research sector, made some big moves in both directions on May 21, reports Indie Research. In a market-wide sell off, traders are driving up volume and forcing some fairly substantial changes in share value.
There was some isolated sector-related news from Stem Cell Therapeutics, a Canadian-listed firm. The company said that, the because the US Food and Drug Administration has lifted its clinical hold on its Phase IIb trials, it is now moving forward with its REGENESIS clinical stroke study. It also noted that the preliminary data on the previously halted phase IIb trial was "encouraging."
As a whole, the Stem Cell Stocks Index was ahead by 1.9%, beating the S&P 500 by 9.5% over the last month. Many of the stocks are seeing daily trading volume that are well above typical levels, noted Indie Research.
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