StemCells Inc (NASDAQ:STEM), a world leader in the research and development of cell-based therapeutics for the treatment of central nervous system disorders, announced that Dr. Stephen Huhn, the Company’s Chief Medical Officer and VP of Clinical Research, presented additional details on its ongoing Phase II Pathway™ Study of HuCNS-SC cells for the treatment of chronic cervical spinal cord injuries. The presentation, which took place at the 2016 American Spinal Injury Association (ASIA) annual meeting in Philadelphia on Friday, April 15, included a top line update for the six patients enrolled in open label Cohort I from the Pathway Study. The 6-month results from Cohort I showed that muscle strength had improved in five of the six patients with four of these five patients also demonstrating improved performance on functional tasks assessing dexterity and fine motor skills. In addition, four of the six patients had improvement in the level of cord injury as measured by ISNCSCI (International Standards for Neurological Classification of Spinal Cord Injury) assessment. The Company expects to release detailed final 12-month results on this first open-label cohort later this quarter.
“The emerging data continue to be very encouraging,” said Dr. Huhn. “We believe that these types of motor changes will improve the independence and quality of life of patients and are the first demonstration that a cellular therapy has the ability to impact recovery in chronic spinal cord injury. We currently have thirteen sites in the United States and Canada that are actively recruiting patients. We have enrolled and randomized 19 of the 40 total patients in the statistically powered, single-blind, randomized controlled, Cohort II. We are projecting to complete enrollment by the end of September so that we can have final results in 2017.” (Original Source)
Shares of StemCells jumped 21% to $0.28 in pre-market trading. STEM has a 1-year high of $0.92 and a 1-year low of $0.21. The stock’s 50-day moving average is $0.28 and its 200-day moving average is $0.38.
On the ratings front, StemCells has been the subject of a number of recent research reports. In a report issued on March 28, Chardan analyst Keay Nakae reiterated a Buy rating on STEM, with a price target of $0.50, which represents a potential upside of 116.0% from where the stock is currently trading. Separately, on the same day, Maxim Group’s Jason Kolbert reiterated a Buy rating on the stock and has a price target of $3.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Keay Nakae and Jason Kolbert have a total average return of -27.1% and -11.5% respectively. Nakae has a success rate of 21.4% and is ranked #3736 out of 3795 analysts, while Kolbert has a success rate of 33.1% and is ranked #3784.
StemCells, Inc. engages in the research, development and commercialization of stem cell therapeutics and related tools and technologies for academia and industry. The company is focused on developing and commercializing stem and progenitor cells as the basis for novel therapeutics and therapies; and cells and related tools and technologies to enable stem cell-based research and drug discovery and development. StemCells research and development efforts are focused on identifying and developing stem and progenitor cells as potential therapeutic agents. The company was founded by David J. Anderson and Fred H. Gage in August 1988 and is headquartered in Newark, CA.