(Reuters) – Geron Corp (GERN) and General Electric Co (GE) unit GE Healthcare said they agreed to develop and market embryonic stem cell products for use in drug discovery, development and toxicity screening.
The companies said the program will use stem cells derived from human embryonic stem cell lines listed on the National Institutes of Health’s Human Pluripotent Stem Cell Registry, but did not disclose the financial terms of the deal.
The first products developed in the alliance are expected to be available by early 2010, with a pipeline of products to follow, the companies said.
According to the agreement, GE Healthcare will have an exclusive license under Geron’s intellectual property portfolio that covers the growth and differentiation of human embryonic stem cells.
GE Healthcare will fund the research and development program and will be responsible for manufacturing, sales and distribution of the products developed under the agreement, the companies said in a joint statement.
Stem cells are the body’s master cells that give rise to all the tissues, organs and blood. Embryonic stem cells, derived from days-old embryos, are considered the most powerful kinds of stem cells, as they have the potential to give rise to any type of tissue.
Shares of Geron were up 23 percent in pre-market trade from their Monday’s close of $6.69 on Nasdaq. GE shares were up 1 percent from their close of $11.76 on the New York Stock Exchange. (Reporting by Esha Dey in Bangalore; Editing by Jarshad Kakkrakandy)
“This is a very important and significant event for BioElectronics. As consumers and the U.S. Food and Drug Administration become increasingly aware of the potential dangers of drugs such as acetaminophen, consumers are increasingly searching for alternatives,” commented Andrew Whelan, CEO of BioElectronics. “PEMF therapy is a proven safe and effective alternative for many musculoskeletal disorders and there is a growing body of research showing its effectiveness in speeding surgical recovery and in reducing, or completely eliminating, the amount of pain medication required. This patent ensures our ability to be the sole provider of this technology in a wearable and portable form factor and significantly increases the value of our Company.”
Market Club has a very interesting take on how BIEL is playing out after the past volume surge. The “Trade Triangles” paint the picture. CLICK HERE and just enter the ticker (BIEL) your name and e-mail address for the FREE No strings Attached Report sent realtime to your in-box!
FREE Trend Analysis for BIEL Here
Earnings and Conference Calls
Exfo Electro-Optical Engineering, Investors Real Estate, Momentum Advanced Solutions, Park Electrochemical, Schnitzer Steel Industries, Sealy
Economic Data
7:45 a.m. ICSC Chain Store Sales Index for June 27
8:55 a.m. Redbook Retail Sales Index for June 27
9:00 a.m. April S&P/Case-Shiller Home Price Index
9:45 a.m. June Chicago PMI
10:00 a.m. June Conference Board Consumer Confidence
5:00 p.m. ABC/Washington Post Consumer Confidence for June 27
Also, in a complete failure for VWAP reversions, the early am shakeout on moderate volume was followed by a laughable lack of action at the day’s highs untli the end of the the day, when, surprise, all the trading picked up in earnest in the last 10 seconds. What do you get when you cross Atlantic City with E-Bay? That’s right – U.S. equity capital markets.
More rumors floating around today about potential buyout of assets of Florida condominium lender Corus Bankshares Inc. Keep a close eye on this company in the coming weeks.
Market Club has a very interesting take on how CORS is playing out after the past volume surge. The “Trade Triangles” paint the picture. CLICK HERE and just enter the ticker (CORS) your name and e-mail address for the FREE No strings Attached Report sent realtime to your in-box!
Courtesy of The Kirk Report
At quarter-end it is always interesting to see what some basic performance scans show up. Case in point, the ETFs which are up more than +50% since the closing price on March 31st:
The top performer has been the Emerging Markets Bull 3X (EDC) with a +102% gain over this time frame:
As we can see from its chart, we recently violated the ATR stop, got very oversold, and then bounced. But, we haven’t take out those former highs and remain vulnerable for 1) another breakdown or 2) a lengthy sideways consolidation phase. If you look closely enough, you’ll also see something I’m finding in quite a few charts of late – an ominous head-and-shoulders formation.
Either way, this one should be on your radar as it may serve as a good tell for the overall market.
From the Financial Times: Romer upbeat on US economy
Ms Romer, chairman of the US president’s council of economic advisers, told the Financial Times in an interview she was “more optimistic” that the economy was close to stabilisation.
…
Ms Romer said stimulus spending was “going to ramp up strongly through the summer and the fall”.“We always knew we were not going to get all that much fiscal impact during the first five to six months. The big impact starts to hit from about now onwards,” she said.
Ms Romer said that stimulus money was being disbursed at almost exactly the rate forecast by the Office of Management and Budget. “It should make a material contribution to growth in the third quarter.”
But she acknowledged that cutbacks by states facing budget crises would push in the opposite direction.
Ms Romer said the latest economic data were encouraging, following a weaker patch a month ago. “I am more optimistic that we are getting close to the bottom,” she said.
…
But she added: “I still hold out hope it will be a V-shaped recovery. It might not be the most likely scenario but it is not as unlikely as many people think.“We are going to get some serious oomph from the stimulus, there is the inventory cycle and I believe there is some pent-up demand by consumers.”
Courtesy of The Pragmatic Capitalist
As the all important July 4th holiday comes around and the U.S. driving season reaches its peak it’s important to take a look at oil prices and the fundamentals going forward. I’ve attached two great interviews on the oil markets:
Steven Schork:
Everyone speaking about inflation these days. Many seeing it mostly in commodity prices and the insane printing of money. Yet with oil heading steadily back to the range from last summer, there is no bottom anywhere for home prices. Also, banks can hoard up all the cash they want: nobody wants it. Consumer are firmly retrenching into thrift mode, and cutting up credit cards or simply maxing out and not paying them. To say inflation is guaranteed in light of trillions and trillions of consumer wealth destroyed, is very shortsighted.
