BioTuesdays: NeoStem completing enrolment in heart trial
NeoStem (NASDAQ:NBS) is on track to complete enrollment later this year in a Phase 2 clinical trial of a bone marrow-derived cell therapy to treat patients for acute myocardial infarction, with a data readout six-to-eight months later.
“AMR-001 represents the first compound in a class of cell therapies to have a highly defined cell population and an identified biologically effective therapeutic dose, both of which tie back to the biological mechanism of action that the outcomes of the current study are intended to demonstrate,” chairman and CEO Dr. Robin Smith says in an interview with BioTuesdays.
Dr. Smith explains that NeoStem’s AMR-001 drug candidate brings a natural repair system, consisting of enriched CD34+ cells, to the heart in order to preserve heart function following a stent placement in patients with a type of heart attack known as ST segment elevation myocardial infarction (STEMI).
Thanks for posting portions of the article. I am surprised at such a downdraft. Whoever purchased millions of shares at 7.00 during the offering must be having nightmares. Am looking for a bottom here, but not finding it so far.
From past experiences, I find this price action predictable after an offering, actually. I might be a conspiracy theorist, but what is to prevent those from purchasing a secondary from hedging position by shorting afterwards because it is almost always perceived or greeted by the market with downward pressure?
NBS is a nice company, but the next catalyst is in late H1 2014, perhaps with some updates meanwhile. This will be trading flat for a next few months- based on historical performance. I am looking for a bottom as well to buy some shares again. I guess 0,55 will be the absolute bottom.