Stem Cell Market Growing At 27% Annually, Athersys’ Stock Surge On Two New Patents
Athersys, Inc. (NASDAQ:ATHX) jumped 27.78% up to $3.68 on heavy volume with 5,479,849 shares trading on news the company was issued two US patents protecting the intellectual rights to its non-embryonic multipotent stem cells, the applications of isolation and expansion, and related pharmaceutical compositions; non-embryonic pluripotent stem cells, their isolation, expansion, and usage, respectively. The new patents expand on Athersys’ existing portfolio of 14 patents with an additional120 global patent applications supporting its stem cell technology and MultiStem product platform. Based in Cleveland, Ohio, Athersys, Inc is a biopharmaceutical company producing non-embryonic cell product candidates for the treatment of multiple diseases. Athersys also develops orally administered pharmaceuticals to treat central nervous system disorders, such as narcolepsy, excessive daytime sleepiness, and chronic fatigue associated with Parkinson’s disease and schizophrenia. In late December the biotech company entered into an alliance with big Pharma, Pfizer, to develop Athersys’ stem cell technology, the announcement sent the stock soaring more than 400%. The global stem cell market is currently valued at $4.5 billion and growing rapidly at a compound annual rate of 27.3%; the market is expected to be worth $15 billion by 2015. Another driver for activity in the biopharmaceutical sector has been a recent upsurge in strategic mergers & acquisitions: a 2009 Ernst & Young report revealed merger & acquisition activity was worth $28.5 billion in deals in 2008 in the US alone. The report also explained that the biotech industry has been helped by President Barack Obama’s pronouncement that the US government should spend more than 3% of its GDP on scientific research and development. ATHX has broken through resistance and is trading above its 90 day moving average of $1.98.
To be kept up to date on all of our hot stock information join us at Picks That Move.
About PicksThatMove.com:
PicksThatMove.com is an independent electronic publication that provides information on selected publicly traded companies. PicksThatMove.com is not a registered investment advisor or broker-dealer. PicksThatMove.com affiliates, officers, directors and employees may buy and sell shares in any company mentioned herein and may profit in the event those shares rise in value. We recommend Due Diligence before investing in any stock.
Subscribe NOW to our newsletters by clicking on the following link: http://picksthatmove.com/join-now/. Feel free to visit our communities on Facebook and Twitter


