Shares of Advanced Cell Technology have settled neatly into the area of eighteen cents after a run that began on historical news last December that launched the stock to highs of over a quarter from the five cent mark.
The price action continued into the open of 2011 after the initiation of a second trial for ACT's embryonic stem cells was given the green light.
This week ACT added to the string of trial commencement news for its embryonic retinal pigment epithelial (RPE) cell line by announcing that it had filed for the inititaion of a Phase I/II trial in Europe for the treatment of Stargardt's Macular Dystrophy (SMD), the same indication for which the company received FDA approval to treat in trials.
2010 was a milestone year for ACT, and 2011 will be a year of forward development, although in terms of growth, it's important to keep in mind that these treatments are still a ways away from market - assuming they make it that far.
That said, ACT is on the big stage now with these trials, receiving only the second such approval to test its embryonic cell line behind Geron (GERN).
Potential partners may be lurking out there and aside from the RPE line, ACT also holds a developing pipeline of treatments and patents that include the Myoblast program – a treatment for congestive heart failure which has already completed Phase I – and the hemangioblast (HG) program, under development to repair vascular damage.
ACTC is still one to keep an eye on as a big player in the world of embryonic stem cell research.
The move to bring the technology and treatments to Europe now only adds to the long term potential.
Disclosure: Long ACTC.
