Biotech Values

[DewDiligence]

Update on the ACTC quasi-hoax:

http://online.wsj.com/article/SB115742229114553473.html

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…many stem-cell scientists remain skeptical of Advanced Cell's claims. "The really unfortunate thing about that paper is that they really didn't do the experiment" that garnered all the media attention, says Jeanne Loring, a stem-cell researcher at the Burnham Institute in La Jolla, Calif. "There are going to be questions at every step of the process until they do the experiment or someone else does."

Arnold Kriegstein, director of the stem-cell program at the University of California at San Francisco, said that trying to extrapolate an embryo-friendly method for deriving stem cells from the Nature report would be "a stretch."

Advanced Cell has capitalized on the research. Two days after the research was published, the company announced that it had raised $13.5 million from its existing investors, with the first part of the transaction set to close Sept. 7. The company's share price has since fallen considerably since it reached the agreement, closing on Friday, Sept. 1, at 71 cents a share, down more than 70% from the post-announcement high although still above where it was before the announcement [LOL].
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