NEWS ALERT!!!!!!!!AFTER HOURS
Geron surges after U.S. stem-cell research news
By Carla Mozee, MarketWatch
Last update: 6:38 p.m. EST March 6, 2009
LOS ANGELES (MarketWatch) -- Geron Corp. was among the biotech stocks whose shares jumped Friday evening following reports that a ban on government funding of embryonic stem-cell research will come to an end next week.
GERN 3.87, +0.08, +2.1%) shares climbed 33% to $5.15 in heavy trading on news reports that President Barack Obama on Monday will sign an executive order overturning the ban that was put in place by President George W. Bush in 1991. The move would make good on a campaign pledge by Obama to lift the ban.
The new order would allow the National Institutes of Health to be able to consider requests from scientists who are seeking funds for stem-cell research, according to the Washington Post. Proponents of such research say it could lead to cures for numerous illnesses.
In late January, the Food and Drug Administration granted clearance to Geron to conduct the first human trial of an embryonic-stem cell treatment to treat spinal cord injuries.
STEM 1.38, 0.00, 0.0%) climbed 46% to $2.02 and Aastrom Biosciences Inc. (ASTM:
Aastrom Biosciences Inc
ASTM 0.33, -0.01, -3.8%) leaped 60% to 53 cents.
