NEW YORK (TheStreet) -- StemCells (STEM) surged to another 52-week high of $2.34 on Friday, as the company continued to rise on the strength of its positive interim results from a Phase I/II clinical trial of its proprietary HuCNS-SC human neural stem cell platform in dry age-related macular degeneration.The results showed improvement in visual function and a slowing of the disease's progression. The data showed a 65% decrease in the rate of geographic atrophy in the eye studied compared to the expected natural history of the disease, along with a 70% decrease in the rate of GA (the gradual loss of two crucial retinal tissue layers, the photoreceptors and the retinal pigmented epithelium) when compared to the control eye.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts