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My favorite part of the motion was the "EC attempt to hijack the case" With all that's going on, someone needs to! lol Thanks for the summary.
Hey jhd. I can relate to your golden retriever story as I have a 10 year old golden who is limping with lumps that appear to be cancerous and cataracts, and so on. I keep wondering how much longer and it is so very hard. In terms of your dad, if there is one thing I have learned as a nurse is both good and poor health often defy logic. A person can have a devastating diagnosis and live on and live on and on. A healthy person could walk in front of a car and it's over. Cancer is no longer a death sentence. None of us know when our time is up or even what is potentially in front of us the next day.
The trick IMO is to take one step at a time to digest new information and not over react. Kind of like this stock, as a matter fact. It's quite a life process. Take care.
Nice summary. thanks.
New info:
StemCells, Inc. Reports First Quarter Financial Results
9:00 AM ET 05/04/2010
PALO ALTO, Calif., May 4, 2010 (GLOBE NEWSWIRE) -- StemCells, Inc. (STEM), a leading stem cell technology company with the dual focus of novel therapeutics and innovative research products, today reported financial results for the first quarter ended March 31, 2010 and recent business highlights.
"It has been an exciting start to the year with important advances in our clinical development programs and our research products business," said Martin McGlynn, President and CEO of StemCells, Inc. (STEM) "Our PMD trial is proceeding well, and we are poised to begin a second NCL trial later this year with increased emphasis on the measurement of clinical benefit. With these endeavors well underway, we are actively pursuing a broader agenda focused on initiating clinical trials in spinal cord injury and age-related macular degeneration, thereby expanding our clinical development programs to all regions of the central nervous system -- the brain, the spinal cord, and the eye -- something we believe no other company in the field is positioned to do. With respect to our SC Proven(R) business, we have expanded our portfolio with the launch of two new products, and are committed to pursuing creative ways to take full advantage of the rapidly growing market for research grade cells, media and reagents."
Recent and First Quarter Business Highlights
-- In January 2010, the Company launched GS1-RTM, the first commercially available medium to enable the derivation, maintenance and growth of true (germline competent) rat embryonic stem cells.GS1-R is expected to have significant utility in the creation of genetically engineered rat models of human disease for use in academic, medical and pharmaceutical research.
-- In February 2010, the Company launched GS2-MTM, a new cell culture medium that enables the derivation and long-term maintenance of true mouse iPS cells. GS2-M has been shown to increase the efficiency of reprogramming 'pre-iPS' cells to derive fully pluripotent stem cells and to maintain mouse iPS cells in a pluripotent state in long-term culture.
-- In February 2010, the first patient in a Phase I clinical trial of the Company's HuCNS-SC(R) product candidate (purified human neural stem cells) in Pelizaeus-Merzbacher Disease (PMD) was enrolled and dosed. PMD is a fatal myelination disorder that primarily afflicts infants and young children, and this event marked the first time that neural stem cells had been transplanted as a potential treatment for a myelination disorder. This study, which is the second clinical trial of HuCNS-SC
cells in a neurodegenerative disease, is being conducted at the
University of California, San Francisco UCSF Children's Hospital.
-- In March 2010, the United Kingdom (UK) Intellectual Property Office granted patent number GB2451523 with broad claims covering true(germline competent) pluripotent rat stem cells and genetically engineered rats derived from these cells. This patented technology is expected to have significant utility to academic and pharmaceutical industry researchers by enabling them to create novel rat models for the study of a wider range of human diseases previously not possible due to
a lack of the true pluripotent rat stem cells needed for precise genetic engineering. The Company holds an exclusive license to commercialize this technology and is globally prosecuting the patent family that claims it.
-- In April 2010, the Company submitted a protocol to the FDA for initiation of a second clinical trial of HuCNS-SC cells in infantile and late infantile neuronal ceroid lipofuscinosis (NCL, also often referred to as Batten disease), a fatal neurodegenerative disorder in children.The proposed new trial is designed to further assess the safety of HuCNS-SC cells in NCL, while also examining the ability of the cells to affect the progression of the disease.
First Quarter Financial Results
The Company's financial results include the operations of Stem Cell Sciences Plc (SCS) since April 1, 2009.
For the first quarter of 2010, the Company reported a net loss of $6,124,000, or $(0.05) per share, compared with a net loss of $9,281,000, or $(0.10) per share, for the first quarter of 2009. Total revenue was $230,000, a 307% increase over total revenue of $57,000 for the same period of 2009. The growth in revenue in 2010 compared to 2009 was primarily due to the consolidation of the SCS operations, which added product sales revenue from the Company's SC Proven portfolio of specialty cell culture products, as well as increased licensing and grant revenue.
For the first quarter of 2010, the Company's loss from operations was $7,601,000, an increase of $678,000, or 10%, compared to the same period in 2009. Operating expenses were $807,000 higher in the first quarter of 2010 compared to 2009, primarily due to the consolidation of the SCS operations. Almost all of the increase in operating expenses in 2010 was due to increased research and development expenses, as selling, general and administrative expenses were essentially unchanged in 2010 compared to 2009. Also in the first quarter of 2010, the Company recorded other income of $1,516,000 to reflect a decrease in the estimated fair value of warrant liability. In the first quarter of 2009, the Company had recorded other expense of $2,755,000 to reflect an increase in the estimated fair value of warrant liability.
Cash and cash equivalents at March 31, 2010 totaled $31,337,000, compared with $38,618,000 at December 31, 2009. In the first quarter of 2010, the Company raised $1,088,000 in gross proceeds through the sale of 882,200 shares of common stock.
About StemCells, Inc. (STEM)
StemCells, Inc. (STEM) is engaged in the research, development, and commercialization of stem cell therapeutics and enabling technologies for use in stem cell-based research and drug discovery. In its cellular medicine programs, StemCells (STEM) is targeting diseases of the central nervous system and liver. StemCells' (STEM) lead product candidate, HuCNS-SC cells (purified human neural stem cells), is in clinical development for the treatment of two fatal neurodegenerative disorders that primarily affect young children. StemCells (STEM) also markets specialty cell culture products under the SC Proven brand, and is developing stem cell-based assay platforms for use in pharmaceutical research, drug discovery and development. The Company has exclusive rights to approximately 55 issued or allowed U.S. patents and over 200 granted or allowed non-U.S. patents. Further information about StemCells (STEM) is available at www.stemcellsinc.com.
The StemCells, Inc. (STEM) logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7014
Apart from statements of historical fact, the text of this press release constitutes forward-looking statements within the meaning of the U.S. securities laws, and is subject to the safe harbors created therein. These statements include, but are not limited to, statements regarding the future business operations of StemCells, Inc. (STEM) (the "Company"); the prospect and timing associated with initiating a second clinical trial in NCL; the prospect for continued clinical development of the Company's HuCNS-SC cells in PMD, NCL and in other diseases; the prospect for growth in the Company's SC Proven business; and the Company's ability to commercialize drug discovery and drug development tools. These forward-looking statements speak only as of the date of this news release. The Company does not undertake to update any of these forward-looking statements to reflect events or circumstances that occur after the date hereof. Such statements reflect management's current views and are based on certain assumptions that may or may not ultimately prove valid. The Company's actual results may vary materially from those contemplated in such forward-looking statements due to risks and uncertainties to which the Company is subject, including uncertainties with respect to the fact that additional trials will be required to confirm the safety and demonstrate the efficacy of the Company's HuCNS-SC cells for the treatment of PMD, NCL or any other disease; risks whether the FDA or other applicable regulatory agencies will permit the Company to continue clinical testing in NCL, PMD or in future clinical trials of proposed therapies for other diseases or conditions; uncertainties about the design of future clinical trials and whether the Company will receive the necessary support of a clinical trial site and its institutional review board to pursue future clinical trials in NCL, PMD or in proposed therapies for other diseases or conditions; uncertainties regarding the potential for the Company to grow its SC Proven business and to advance the development and commercialization of stem cell-based assays for drug discovery and development; uncertainties regarding the Company's ability to obtain the increased capital resources needed to continue its current and planned research and development operations, including such operations of the Company for non-therapeutic applications, and to conduct the research, preclinical development and clinical trials necessary for regulatory approvals; uncertainty as to whether HuCNS-SC cells and any products that may be generated in the future in the Company's cell-based programs will prove safe and clinically effective and not cause tumors or other adverse side effects; uncertainties regarding whether results in preclinical research in animals will be indicative of future clinical results in humans; uncertainties regarding the Company's manufacturing capabilities given its increasing preclinical and clinical commitments; uncertainties regarding the validity and enforceability of the Company's patents; uncertainties as to whether the Company will become profitable; and other factors that are described under the heading "Risk Factors" disclosed in Part I, Item 1A in the Company's Annual Report on Form 10-K for the year ended December 31, 2009.
StemCells, Inc. (STEM)
Unaudited Condensed Consolidated Statement of Operations
(in thousands, except share and per share amounts)
(unaudited)
Three months ended
March 31
-------------------------
2010 2009
------------ -----------
Revenue:
Revenue from licensing
agreements and grants $ 114 $ 57
Revenue from product sales 116 --
------------ -----------
Total revenue 230 57
Cost of product sales 44 --
------------ -----------
Gross profit 186 57
Operating expenses:
Research and development 5,037 4,236
Selling, general and
administrative 2,585 2,539
Wind-down expenses 165 205
------------ -----------
Total operating expenses 7,787 6,980
------------ -----------
Loss from operations (7,601) (6,923)
Other income (expense):
Realized gain on sale of
marketable securities -- 398
Change in fair value of
warrant liability 1,516 (2,755)
Interest income (expense),
net (25) 13
Other income (expense), net (14) (14)
------------ -----------
Total other expense, net 1,477 (2,358)
------------ -----------
Net loss $ (6,124) $ (9,281)
============ ===========
Basic and diluted net loss per
share $ (0.05) $ (0.10)
============ ===========
Shares used to compute basic
and diluted loss per share 118,959,136 96,048,288
============ ===========
StemCells, Inc. (STEM Loading... )
Unaudited Condensed Consolidated Balance Sheets
(in thousands)
December
March 31, 31, 2009
2010 (a)
----------- -----------
(unaudited) (unaudited)
ASSETS:
Current Assets:
Cash & cash equivalents $ 31,337 $ 38,618
Marketable securities 157 197
Other current assets 1,144 1,326
----------- -----------
Total current assets 32,638 40,141
Property, plant and
equipment, net 2,637 2,857
Goodwill and other
intangible assets, net 5,183 5,667
Other assets, non-current 2,541 2,525
----------- -----------
Total assets $ 42,999 $ 51,190
=========== ===========
LIABILITIES AND
STOCKHOLDERS' EQUITY:
Current liabilities 4,967 6,530
Fair value of warrant
liability 8,161 9,677
Other non-current
liabilities 4,147 4,488
Stockholders' equity 25,724 30,495
----------- -----------
Total liabilities and
stockholders' equity $ 42,999 $ 51,190
=========== ===========
(a) Derived from audited financial statements
included in StemCells' (STEM Loading... ) annual report on form 10-K
filed with the SEC.
CONTACT: StemCells, Inc. (STEM Loading... )
Investor Inquiries
Megan Meloni
(650) 475-3100, ext. 105
Vida Communication, Inc.
Media
Tim Brons
(415) 675-7402
More STEM News
StemCells Adds 3.5%, Battent Trial Data to Be Presented at Conference
MidnightTrader - 9:11 AM ET 05/03/2010
StemCells: HuCNS-SC Cells, Transplantation, Immunosuppression Regime Well Tolerated
DJ Realtime News - 9:08 AM ET 05/03/2010
StemCells: Initial Safety Results With HuCNS-SC Cells 'Promising'
DJ Realtime News - 9:07 AM ET 05/03/2010
I must be missing something. The CEO has a new business model up and running for 4 months and people are expecting PPS to rise? Classic business knowledge indicates the majority of the expense for a new venture is in the first 12-18 months and a company is extremely fortunate if they can turn a profit at all within 2 years. I don't care to get in a discussion about whether a .003 price change is realistic or unrealistic. Who the heck knows with a penny stock? I agree with the posters who have been able to turn over their shares enough to keep their investment in "house money". Haven't flipped a share but I can see the wisdom of that strategy for the long hauls most likely involved with this stock. GLTA
I think no one really know where the shoe will drop in terms of the winning stem cell theory. I have actually seen patients with Batten's disease. Pretty devastating. I'm glad the FDA gave clearance for this one, hopefully paving the way for others.
That's hilarious. At the height of Jeffrey Dahmerism, I lived about 2 blocks away from him. Believe in the "keep your friends close and your enemies even closer theory" haha GLTU
And then we would all be saying "why wasn't our CEO more aggressive in terms of marketing?" I think the CEO is smart in terms of engaging a public relations firm. I still don't know much about him.
Myth, I'm with you in terms of FMV. What is the big deal here? We are banking on a stock that has huge upside potential. Could take 1 month, 1 year, 1 decade, who knows? Can't go by day to day. IMO. Doesn't mean there is a problem.
There you have it the great research slow down for 8 years. Wish it was otherwise.
I agree with you locks on one hand but on the other hand, my supposition is the FDA wants to regulate and give others access to clinical trials. More importantly access to federal grants, for clinical trials. Worst case scenario for the FDA (and probably all of us) is for cord blood products to go the way of vitamin and herbal therapy and be totally unregulated. It is often stated that if cigarettes were to go on the market today, they would never be approved by the FDA. Wouldn't that be nice? AMHO, of course.
nice. ty
Your post is very interesting. The news was from November 2008. I would love to know patient's status now. Any idea?
I have to make another comment about your post because it caused me to realize something important. I don't know if most people realize that people who work in hospitals and with patients don't really consider insurance companies part of the health care industry. Of course they are from the broader perspective and a million other reasons but they are more like the enemy than part of the team. Best humor I can come up with on a Sunday nite. Have a good week everyone.
I have been thinking about this BC/BS angle since I learned about it and have an alternate explanation. AIMHO, of course. The insurance companies got hammered on In Vitro Fertilization technology. As most people probably know, IVF costs upwards of $10,000 for the first go round of treatment. Initially it wasn't covered by insurance. Over the years, a few insurance companies threw in the towel and agreed to cover. That opened the door for patients of other insurance companies to beg and plead for coverage with many heartfelt stories and often eventually succeeded. Maybe the insurance industry is saying... we're not getting burned again on this type of situation. Let's open up an option before approved treatments really crank up so that we have money in the bank before it is actually needed for claims. Smart actually. If true, good news for CBAI.
hmmm offense and defense.... a debatable position for bc/bs. On the other hand what does bc/bs have to offer except responding to claims and trying to take the high road, one might hope, to make a statement. Otherwise they lose money. I don't think they are in the high road business. Would be delighted to be corrected. IMHO it takes someone like the Red cross or blood banks to offer hope and the willingness to do the right thing for those in need. Repeating myself maybe but I think there is business available in the methods mentioned. The CEO has to have a lotta vision, which from all I can learn is possible. So important to pick the correct business model at this juncture, I suppose.
K. I googled the bc/bs info. It is all about them saving money as well as making themselves look good. Wish it was otherwise, truly, but it ain't...as I hear others say in Indiana since I was raised there! Trying to forget, in some ways, but those hoosiers speak from the hip...no matter what. In my heart of hearts, I believe that the truth will come out, in terms of science and all the exciting mysteries to yet be discovered. However, bc/bs, united, aetna, etc. it's like the Cramer man says, one might need to hold their nose to actually listen but could make you some mad money. AIMHO of course.
K.Tell me more.
Ya know, Mr. Long I have been racking my brain about that very question so in a way I'm glad u asked in another way...I don't have a clue. The current model for selling blood products, to put it bluntly is through blood banks, the red cross, and so on...We have all heard of the street people who sell their plasma to make a buck. For right or for wrong, I think that is the only viable entity that would pass the muster in the health care world today. I would like to believe that BC/BS would step up or United Health but their plan is to act like they care about the consumer and then be generous when someone else offers a proposal. Please don't hold your breath waiting for an insurer to step up. You'll turn blue haha. idk did I answer your question?
Not sure if posted yet.
Form 8-K WASHINGTON MUTUAL, INC For: Apr 30BY 10K Wizard
— 5:18 PM ET 04/30/2010
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=6922123
Filed on: April 30, 2010
hey locks...you are the ultimate long, which I respect. Hospitals spend an inordinate amount of time protecting patients identities as well as the possibility of solicitation. Gotta believe that if you are sick and admitted to a hospital people won't call you to buy Advil, or whatever. So while it was a good idea you had,in terms of marketing, not possible in the hospital world. Point is, no fault of the CEO. GLTU and GLTA
I think you may have something there holter. Normal people think that it is good to communicate and be open and transparent and so on. That appears to be what our CEO thinks which is in my book is a good thing. The reality is that there is a science to marketing and PR and sometimes consistency and regular communication could work against a company, odd as that may seem. Handing it off to professionals might be helpful
I think all have to consider the broader picture of the market in general, don't u? To buy CBAI at a discount or a $100 pps at a discount??? idk something to think about.
Ricksy, I so enjoy ur posts. U have the ability to look at all sides of an issue and try to bring forward the salient points. GLTU
hmmm myth...it's that half empty half full kind of thing. Either u are in or ur out and there most likely is a rhythm to this juncture in the business model. Why so anxious? I have witnessed this posture in other stocks and the big holders often fade quietly into the sunset.
My thoughts are that the man(CEO)"threw in the towel" in terms of trying to figure out the correct message to communicate. Communicating regularly...lots of critique...communicating irregularly.. also lots critique, maybe more. Let a professional handle it, would be my way of looking at it. This is a very long play. No worries. Just accumulate.
IDK zilla...y'all look at this from such a business view. lol. Oh wait, this is a public holding. Gotta remember that people in health care are a bit of the bleeding heart type. Their drug frontrunner bombed out and now they are trying to scrape together the remainings and see what they can do to make things work. I myself bought a few shares today to even out my holdings and because the price was right. I think they have the right idea to shift from adults who have rare forms of cancer to children who have incurable diseases who will do ANYTHING to get a chance at life. I also think it was wise to tell the FDA...OK u don't like our stuff, just say no and let us work with the European commission. Less bureaucrats. If u had met some of the people I've met in my life as a professional, you would be surprised how many people are full of pure science and lacking in business sense, because they could care less. Goal is to find the answer to a scientific inquiry. I think this stock is looking good. IMHO of course.
Agree. Communication to peoplem who matter in the equasion, half the battle. An awesome skill
I have wondered about that information myself, uikiyo. It seems to me that the EC has been very responsible, trying to get this reputable lawyer and then that reputable lawyer...all conflicted out. Then it seems they needed to pull out all the stops and hire the big guns. More power to them but of course one gets what they pay for. I am curious what percentage of recovery the new lawyers charge. No matter. It appears to be necessary to keep things alive. IMHO of course.
I was never good at monopoly so keep in mind with my comments. I can't quite figure out why stem cell storage, both public and private, wouldn't be an enhancement of existing blood bank facilities. The existing model in this country is that volunteers donate blood and then there are also "designated donors" who donate blood for their loved ones in preparation for an elective surgery ie private. I am trying to figure out why stem cell storage wouldn't simply be an enhancement of the many blood products and processes stored at blood banks. To me what is of value is the technology of being able to store stem cells accurately so they can be retrieved and utilized. I would think that could be accomplished through contracts with blood banks or selling retrieval equipment to blood banks. I'm still playing catch up on this stock so there are probably some very good reasons to do the monopoly thing. Thanks for any clarifications.
Sorry Myth. Responded to the wrong poster.
Best post of the day
umaw everyone says LMAO in such an overused way. this post is truly funny!
Here's what I'm thinking, Mr. Long. Yes the USA is beyond scrutiny in terms of their criteria, research methodology, statistical analysis, and so on. At the end of the day there are plenty of people who would fly to China or USSR or Iceland to have half a chance to live another day and enjoy their family and the rest of their life. Having been married to a lawyer for many years, since deceased, I feel free to say that litigation is too central to how clinicians operate and why they make the decisions they do to people who really need medical help. I'll get off my soapbox now. lol I think it best for investors in this stock to keep an open mind.
Myth, I should learn to keep my big mouth shut but they are making money and saving lives. The latter is the real draw... GLTU
Thanks for the PM, Karin. Interesting stuff.
Thanks for sharing the article Locks. I imagine their "unregulated stem cell treatments" refers to the FDA. I would have to agree with that premise. You may or may not know that the FDA does not regulate herbal and vitamin type products, for example. In other words, if the product says it has a 1000 u of whatever, the FDA doesn't care. Let the patient hope for the best. Even the most conservative doctors believe in a few things from the herbal world. So I guess it's a blessing and a curse to not have the FDA be involved. Perhaps they realize if they get involved it would be darn complicated...to their credit. I am not particularly a herbalist but like to keep an open mind to the unknown or preferably the "yet to be discovered" Having been in the medical field for many years, I love that everything that is "known" becomes "unknown" over time.
Nice. Johnjhao. I'm in at that price!
Nah. I'd vote for you Fish before I'd vote for KK.
Maybe Killinger would be available for MSU....haha