RegMed Competitive and Market Intelligence, 12/27/11, totally dead and clinging to small gains
Today’s Gospel according to Henry: Stocks cling to small gains in thin trading … The market remains undervalued on a historical basis, which offers support to the … downside, but does … little to initiate … inspiration to the upside!
Mid-Day: The NASDAQ IS UP +8.53 (+0.33%) to 2,627.17 while the Dow is UP +17.90 (+0.15%) to 12,311.90.
Mid-day Market commentary: Stocks on Tuesday, 12/27/11 drifted close to neutral as the market looked to find its footing after last week’s gains. The Dow veers … between gains and losses. The S&P 500 Index held a fractional gain, with utilities rising the most and industrials the heaviest weight among its 10 industry groups. The NASDAQ was flat at 2,618.67.
Consumers showed the most confidence in December in 8 months, heartened by the availability of more jobs. The Conference Board said its index of consumer confidence jumped to 64.5 this month from a revised 55.2 in November. Consumer confidence has jumped nearly 25 points in the past 3 months and now sits at its highest level since April. SO, WHY DON’T I FEEL THE CONFIDENCE …?
What’s new in the regenerative medicine/stem cell market:
Neuralstem’s NSI-189 Trial receives FDA Approval to Advance: AMEX: CUR has been approved by the FDA to advance to Phase Ib in its ongoing clinical trial to test its novel neuro-regenerative compound, NSI-189, for the treatment of major depressive disorder (MDD). Phase Ib will test the safety and tolerability of the drug in depressed patients. NSI-189 is a proprietary new chemical entity discovered by CUR that stimulates new neuron growth in the hippocampus, an area of the brain that is believed to be involved in MDD. The Bottom Line: I still have a wait-and -see attitude toward CUR …
TiGenix Obtains EUR 2.9M FP7 Grant to Fund Development of Cx611 in Rheumatoid Arthritis: EURONEXT BRUSSELS: TIG has obtained a substantial grant from the European Seventh Framework Program (FP7) to support the development of its Cx611 program of allogeneic expanded adipose derived stem cells for the treatment of rheumatoid arthritis. The so-called REGENER-AR consortium includes 10 partners from Spain, France, the UK, the Netherlands and Belgium, and consists of a combination of top-level research institutes, medical entities and biotech companies. The consortium will receive a total of Euro 5.9M, of which Euro 2.9M is allocated to TiGenix and Cellerix, its Spanish subsidiary, to fund research and clinical development of Cx611. In addition, the grant covers the cost of preclinical studies performed by members of the consortium to improve the understanding of the disease modifying activity of Cx611, which will further reduce TiG’s R&D expenses related to these studies. The Bottom Line: The grant will effectively lower cash outlay to finance the development of Cx611 by EUR 3.3M.