StemCells Inc. (OTCBB: STEM) stock is trading Tuesday at $2.06, up 8.99 percent from its previous close. The stock opened at $1.88 and touched its lowest price point at $1.85. Its intraday high price stood at $2.19. The stock recorded a volume of 5.58 million shares, in comparison to average daily volume of 1.81 million shares. The stock has traded in the range of $0.59 and $4.00 in the previous 52 weeks. The company’s market cap stands at 52.18 million and the stock’s beta is 0.35.
STEM recently announced positive results for its Alzheimer’s drug. The stock rallied on the news. The company also said that such positive results were obtained without making any reduction in two proteins known to be associated with Alzheimer’s. Most of the studies for the treatment of Alzheimer’s focus on these two proteins. STEM reported, “While reducing beta amyloid and tau burden is a major focus in AD research, our data is intriguing because we obtained improved memory without a reduction in either of these pathologies.”
According to the preclinical data released by the company, human neural stem cells may aid in the process of restoring memory in Alzheimer’s patients. The company has proprietary interest in these human neural stem cells. STEM reported that these cells have been proved to be helpful in restoring synaptic functions in two animal models.
The company provided these details during Alzheimer’s Association International Conference 2012. The conference was held in Vancouver in Canada. In its 8-K statement, the company stated that neural stem cell transplantation has found to be helpful in treating the ailment. The tests were done on the hippocampus.
STEM has also entered into a new collaboration with University of California, Irvine. The University of California researchers said, “Increased synaptic density and improved memory post transplantation independent of a reduction in beta amyloid and tau burden.”
STEM is a biopharmaceutical company. It is involved in the process of researching, developing and marketing stem cells therapies. The company also deals in the development of related tools to be used by industry and academia. STEM has various drug candidates in the pipeline. The company’s major candidate is HuCNS-SC cell. It is currently carrying out phase I of the testing of the therapy. The company also sells technologies and tools to biotech companies. STEM was formed in 1988. The company is based out of Newark, California.