Heh.
Adult stem cells (autologus) are working fine, thank you, here in Peru.
Mayo clinic says they’re inferior to embryonic ones, but better than previously thought.
The CEO stepped down on 1-22-2014
No, I don’t believe that the SEC unfairly targeted this company due to the use of human embryonic stem cells (hESC) or for any other reason than the screw ups of prior management. Additionally, ACT does not destroy embryos, but rather extracts individual stem cells from embryos non-destructively in vials borrowed from in-vitro fertilization (IVF) clinics.
Advanced Cell Technologies has a history of great scientific progress and awful management decisions. As a biotech investor, I have tracked this company for some time and recently bought shares since Phase 1 data on macular degeneration studies will be released soon, there were several new hires recently (new CFO, new chairman of the board, and new VP of clinical development), and the company applied for a reverse split in hopes of uplisting to a better exchange. There will also be a new CEO soon. These steps are important for a company hoping to be traded on NASDAQ or NYSE rather than the over-the-counter markets. There also may be a joint venture with a larger company on the horizon (as is typical for development stage biotechs), but that’s only a guess.
A couple years ago, the company reported pre-clinical safety study results where a patient’s eye went from 20/400 vision to 20/40 vision. I looked forward to more data in the next few months. I am hoping that ACT can now move past the baggage of prior management, which has stymied funding and consequently delayed trial studies.
Chief scientific officer, Dr. Lanza, and his team need business leadership that promotes the company rather than tarnishes it. Moving past the old lawsuits, bad financing deals, and SEC inquiries were necessary steps in the right direction. 2014 should be an interesting year for ACT.
[ disclosure: I am long ACTC ]