International Stem Cell Corp (OTCMKTS:ISCO) recently saw a pop after a significant dip to lows just over $0.50 a share. The stock has come back since than to well over $1 on little volume.
ISCO was initially highly volatile before forming a base at $2 since the Company completed a 150 for 1 reverse stock split with temporarily changed the ticker symbol to ISCOD for 20 days before reverting back to ISCO.
International Stem Cell Corp (OTCMKTS:ISCO) is a California-based biotechnology company developing novel stem cell-based therapies currently focused on obtaining regulatory approval for their Parkinson’s disease treatment in Australia, as well as in the US.
ISCO’s core technology, parthenogenesis, results in the creation of pluripotent human stem cells from unfertilized oocytes (eggs). hpSCs avoid ethical issues associated with the use or destruction of viable human embryos. ISCO scientists have created the first parthenogenetic, homozygous stem cell line that can be a source of therapeutic cells for hundreds of millions of individuals of differing genders, ages and racial background with minimal immune rejection after transplantation.
hpSCs offer the potential to create the first true stem cell bank, UniStemCell(TM). ISCO also produces and markets specialized cells and growth media for therapeutic research worldwide through its subsidiary Lifeline Cell Technology and stem cell-based skin care products through its subsidiary Lifeline Skin Care.
Last year ISCO announced that the Court of Justice of the European Union has ruled in favor of the Company and that the Company’s core technology patent applications are not covered by the prohibition on patenting embryonic stem cells. This ruling confirms the opinion of the Advocate General published in July 2014.
At issue were two patent applications filed by the Company, GB20060021068 and GB20060021069, which were rejected by the United Kingdom Intellectual Property Office (UKIPO) on the grounds that the disclosed technology, parthenogenetic stem cells and methods of making these stem cells, was excluded from patentability by the EU Directive on Legal Protection of Biotechnological Inventions.
ISCO is fully reporting OTCBB with significant revenues of $5.2 million for the 9 months ended September 30, 2014 up from $4.4 million last year. The Company stands to benefit from strategic alliances with Rohto Pharmaceutical Co., LTD. and Grupo Venta Interncional S.A de C.V will help grow revenue in newer markets.
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In November ISCO said after a recent meeting with Australian Therapeutics Goods Administration (TGA) the Company’s wholly owned subsidiary Cyto Therapeutics signed a Letter of Intent (LOI) with Royal Melbourne Hospital (Australia) to conduct phase I/IIa clinical trials of ISCO’s proprietary human parthenogenetic neural stem cells (hPNSCs) for the treatment of Parkinson’s Disease. Under this process, a full agreement will be signed after TGA and the HREC approve the clinical protocol for the phase I/IIa trials.
On December 7 ISCO announced the treatment of the second patient in the Australian trial for Parkinson`s Disease. The patient was injected with 30,000,000 ISC-hpNSC® cells and is currently recovering.
The surgery was performed on Sunday, December 4, at the Royal Melbourne Hospital (RMH), the same site as the first treatment. The operation was successfully performed without complications by the team of the RMH neurosurgeons.
“We are very encouraged by how the clinical trial is moving ahead,” commented Russell Kern, PhD, executive vice president and chief scientific officer of ISCO. “The second operation was delayed by a supply chain disruption of equipment critical to the operation, but we have managed to fix the issue and bring the clinical trial back on track. In addition, we have identified patients to be enrolled in the trial and are working to get them treated in 2017.”
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Currently trading at a $4.22 million market valuation ISCO does have some assets on the books and growing revenues recently announcing $1.8 million in sales for 2015 Q2 but they are also quickly developing a debt problem including $3.5 million in Accrued liabilities and Related party payables. ISCO is an exciting story developing in small caps; the Company develops novel stem cell-based therapies and recently moved their Parkinson’s disease program into a Phase I clinical trial in Australia after a lengthy regulatory approval process there. We will be updating on ISCO when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with ISCO.
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Disclosure: we hold no position in ISCO either long or short and we have not been compensated for this article.