RIP: Af­ter burn­ing through $463M, Stem­Cells’ corpse is bought out for the pub­lic shell

Back at the end of May, Newark, CA-based Stem­Cells $STEM joined the walk­ing dead of biotech. Run­ning out of cash, its Phase II spinal cord study fail­ing bad­ly, the ex­ec­u­tive team tossed in their cards and start­ed to push away from the ta­ble.

Said CMO Stephen Huhn:

Un­for­tu­nate­ly, the Com­pa­ny does not have the re­sources to im­ple­ment changes in our de­vel­op­ment pro­gram to per­mit fur­ther in­ves­ti­ga­tion.

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