Stem Cell Stocks See Gains On News From Frist
Related News: Stem Cell InvestmentWired, among other portals, took note of the jump in stem cell stocks on Friday. Much of this came from the support of federal funding which came from a suprising person ....
The U.S. Senate majority leader stated last week that he supported expanding federal financing of the controversial medical research.
Sen. Bill Frist (R-Tennessee), in a break with with President Bush stated that the government should remove some of the administration's limitations on embryonic stem cell research.
Geron (GERN) shares gained 77 cents or 7.5 percent, to reach 10.98 in morning trading on the Nasdaq. Stemcells Inc. (STEM) saw an increase of $1.28 or 24 percent. Additionally, Aastrom Biosciences (ASTEM) gained 34 cents, or 11 percent.
Of these firms, Geron is the only one that is focused on embryonic stem cells. Stemcells and Aastrom focuses most of their research on adult stem cells. Viacell, which also clocked in with a 6.2 percent jump, focuses on stem cells derived fron umbilical cords / cord blood.
Posted on July 31, 2005 03:14 PM