Tech Ticker: StemCells, Sun, VMware
Mercury News wire services
Article Launched: 11/11/2008 07:38:42 AM PST
StemCells
Stock soars
StemCells of Palo Alto reached its highest value in more than a year in U.S. trading on reports that President-elect Barack Obama may reverse the Bush administration's order restricting federal funding for embryonic stem-cell research. Other companies involved in stem-cell development, such as Advanced Cell Technology, Geron and Aastrom Biosciences, also gained Monday.
Obama is conducting an "across-the-board" look at President Bush's orders and administrative actions, including a policy on stem-cell research, said John Podesta, head of Obama's transition team, on Fox News Sunday.
Bush limited the use of federal funds for human-embryonic-stem-cell experiments, citing moral and ethical concerns. Embryonic stem cells have the ability to mature into a variety of cells, while adult stem cells can only develop into a few cell types, usually related to the organ where they originated.
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