RegMed Daily, Mid-Day, 11/8/11, markets waffle, staying on sidelines
After moving mostly higher in early trading on Tuesday, stocks have given back some ground over the course of the morning. The major averages have moved well off their highs for the session, pulling back near the unchanged line.
Mid-Day: The NASDAQ is UP +1.81 (+0.07%) to 2,697.06. The Dow is DOWN -36.71 (-0.30%) to 12,031.68.
Mid-Day Movers: Athersys (ATHX), Dendreon (DNDN), Opexa (OPXA), Neuralstem (AMEX:CUR), ReNeuron (RENE.LON), ThermoGenesis (KOOL) and Tengion (TNGN)
What’s new in the regenerative medicine/stem cell market …
Science Brief: Human Stem Cells Used to treat Parkinson’s: In a study published in the journal Nature, scientists described how they converted human embryonic stem cells into nerve cells that produced the brain chemical dopamine. When these nerve cells were transplanted into the brains of mice and rats, they released dopamine and got rid of the animals’ Parkinson’s symptoms. The cells were also successfully transplanted into rhesus monkeys, whose biology is closer to that of humans. http://www.nature.com/nature/journal/vaop/ncurrent/full/nature10648.html
Vatican and NeoStem (AMEX: NBS) host Adult Stem Cell Meeting: The Vatican’s culture office and NeoStem Inc., are hosting a three-day conference starting Wednesday on adult stem cells, drawing scientists, patients, biotech CEOs and cardinals together. http://www.scimitarequity.com/blog/2011/11/08/vatican-and-neostem-amex-nbs-host-vsels-adult-stem-cell-meeting
Opexa (OPXA) Tovaxin® granted FDA Fast Track Designation for MS: The bottom line: The receipt of Fast Track designation from the FDA represents an important step to advance Tovaxin through the clinical and regulatory process. The FDA’s Fast Track program is designed to facilitate the development and expedite the review of drugs intended to treat serious or life-threatening conditions and that demonstrate the potential to address unmet medical needs. http://www.scimitarequity.com/blog/2011/11/08/opexa-opxa-tovaxin%c2%ae-granted-fda-fast-track-designation-for-ms
NanoString Technologies has secured $20M in a round of Series D financing from GE Healthcare and several other investors. The company will use the proceeds to further develop its genetic analysis tool and a diagnostic system for advancing personalized medicine. http://www.xconomy.com/seattle/2011/11/07/nanostring-grabs-20m-from-ge-former-genzyme-ceo-to-pursue-molecular-diagnostics