Stem Cell Shares Pop On Government Action (GERN, PSTI, STEM, CYTX, STEM, OPXA)
Recent legal disputes have put the stem cell sector in focus after District Judge Royce Lamberth hit the brakes on an executive order from the Obama administration, which had initially opened the door to federally funded research on human embryonic stem cells. This morning, the U.S. Court of Appeals paused Lamberth’s ruling after the Justice Department said that “Disruption of ongoing research will result in irreparable setbacks, and in many cases, may destroy a project altogether.”
As a whole, the Stem Cell Stocks Index is up by 2% on the day with select components gaining 5% or more.
Geron (GERN) and Pluristem Therapeutic (PSTI) StemCells (STEM) are both up by more than 8% in the rally, followed by Cytori Therapeutics, Inc. (CYTX), StemCells (STEM), and Opexa Therapeutics (OPXA) with more than 3% gains.
Some industry executives have called for more permanent legislation that would protect the sector against funding bans. Geron CEO Tom Okarma told Bloomberg, Lamberth’s ruling “is a clear mandate for the administration to finish what they started with the Obama Executive order,” back in August. It will be interesting to see how further policy action plays out.
Investors can track the Stem Cell Stocks Index for performance trends and a suite of other metrics at tickerspy.com.
More on this topic (What's this?)
Court Decision Puts Pressure on Some Stem Cell Stocks (Wall St. Cheat Sheet, 8/24/10)
Pluristem Pops on Cell Therapy Data (PSTI) (Benzinga, 9/14/10)
Pluristem Pops…Again (PSTI) (Benzinga, 9/17/10)
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