02 Dec Biotech cos. rise as gov't OKs new stem cell lines
Shares of companies developing stem cell therapies surged Wednesday on news that the federal government has cleared 13 new stem cell lines for testing, bringing to a close nearly a decade of restrictions.
The news from the National Institutes of Health should provide some relief to companies that have been squeezed by limited funding from both the federal government and the private sector.
”For the first time all these programs that have been held in check by the closed stem cell policy can move forward,” said Steve Brozak, president and analyst with WBB Securities, an investment brokerage focused on drug and biotech companies.
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