After announcing the Food and Drug Administration’s approval to proceed with clinical trials using human embryonic stem cells to research a therapy for Stargardt’s Macular Dystrophy a couple weeks ago, shares of Advanced Cell Technology continue to run northbound. The news shot the stock price up from around 4 cents to approximately 8 cents in a matter of hours as traders jumped on the “momentum train” and investors rejoiced that the breakthrough they have been waiting for started showing true signs of becoming a reality.
The news was followed a few days later by the Company filing an Investigational New Drug (IND) application with the FDA for another clinical trial to study Dry Age-Related Macular Degeneration through similar therapies as will be researched in the Stargardt’s clinical trials. Given the successes shown in pre-clinical research and the previous approval for the human embryonic stem cell research just granted, the common consensus is that there is a strong likelihood that this new set of human trials may be granted approval as well. With only one other company in history having received FDA approval for clinical trials using stem cells, Advanced Cell Technology is setting itself apart by leaps and bounds.
Other recent news released on the second day of December revealed that the Company has been cleaning up its balance sheet in a manner not often seen by other bulletin board companies. Having to go through a variety of financing options to support all the research that has been dedicated to bringing the Advanced Cell Technology technologies to human research, the Company racked up some large debt, but has reduced the debentures to under $900,000 by eliminating over $33 million in debentures in the last fifteen months.
As the good news continues to flow and investors are being kept abreast of Company details through blog comments from William M. Caldwell IV, Chairman and CEO of Advanced Cell Technology, the stock price continues to soar. After a slight pullback that can only be attributed to profit takers securing some gains after the run to over 11 cents on the November 30th, the price per share has been repeatedly hitting new 52-week highs, with the price surging to over 15 cents in today’s trading.
Momentum has a strong grip on the stock at this moment as rumors and speculation spread and help fuel the fire. But what is even more interesting is what can honestly be attained over the next several years within the multi-billion dollar industry. It has taken some serious perseverance and dedication, but the Company appears to have found itself in a very nice position where few other companies will ever be.
More information on Advanced Cell Technology and its research can be found on the Company’s website at www.advancedcell.com