StemCells, Inc. (NASDAQ:STEM), a world leader in the research and development of cell-based therapeutics for the treatment of disorders of the brain, eye and spine, announced today that it has completed transplantation of the first subject in its Radiant Study at the Retina Foundation of the Southwest. The Phase II trial is designed to evaluate both the safety and efficacy of the Company’s proprietary HuCNS-SC® platform technology (purified human neural stem cells) for the treatment of geographic atrophy (GA), the most advanced form of dry age-related macular degeneration (AMD).
“Initiation of this fellow eye controlled Phase II clinical trial re-affirms our leadership in the study of stem cells to treat disorders of the eye,” said Joel Naor, M.D., MSc, MBA, Vice President of Ophthalmology Clinical Development, atStemCells, Inc. “AMD is a debilitating condition that severely impacts quality of life for millions of people and for which there is currently no treatment. HuCNS-SC cells may have the potential to preserve vision in those affected with dry AMD and possibly other degenerative retinal disorders.” (Original Source)
Shares of StemCells closed last Friday at $0.505. STEM has a 1-year high of $1.78 and a 1-year low of $0.49. The stock’s 50-day moving average is $0.63 and its 200-day moving average is $0.88.
On the ratings front, StemCells has been the subject of a number of recent research reports. In a report issued on June 30, Maxim Group analyst Jason Kolbert reiterated a Buy rating on STEM, with a price target of $5, which implies an upside of 890.1% from current levels. Separately, on June 22, Cantor Fitzgerald’s Caroline Corner reiterated a Buy rating on the stock and has a price target of $2.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Jason Kolbert and Caroline Corner have a total average return of 1.5% and -8.5% respectively. Kolbert has a success rate of 42.7% and is ranked #1558 out of 3712 analysts, while Corner has a success rate of 40.0% and is ranked #3402.
StemCells Inc is engaged in the research, development, and commercialization of cell-based stem cell therapeutics and related enabling technologies.