Biotech Stocks Look to Benefit From JOBS Act
Five Star Equities Provides Stock Research on Geron Corporation and Athersys, Inc.
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 04/10/12 -- One major problems in recent years for emerging biotech companies has been funding for research. With the signing of the Jumpstart Our Business Startups (JOBS) Act emerging biotech stocks will be allowed five years to focus funding on research before having to allocate funds to costly regulations, saving companies up to $2 million per year. Five Star Equities examines the outlook for companies in the Biotechnology Industry and provides equity research on Geron Corporation (NASDAQ: GERN) and Athersys, Inc. (NASDAQ: ATHX).
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"This law will incentivize and encourage capital formation for small, emerging biotechnology companies that do not yet have products on the market," BIO President and CEO Jim Greenwood stated. "By allowing companies to focus their limited funds on research rather than on compliance, it will speed the development of new cures and treatments for patients living with debilitating diseases such as cancer, diabetes, Parkinson's, and HIV/AIDS."
"The American biotechnology industry thanks the Congress and President Obama for the enactment of the JOBS Act," concluded Greenwood.
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Geron Corporation reported financial results for the fourth quarter and year ended December 31, 2011. Net loss for the fourth quarter of 2011 was $31.9 million, or $0.25 per share, compared to $59.4 million, or $0.59 per share, for the comparable 2010 period. Net loss for the fourth quarter of 2011 included restructuring charges of $5.4 million related to discontinuation of the company's stem cell programs and non-cash debt extinguishment charges of $1.7 million resulting from the repayment of the loan to the California Institute for Regenerative Medicine.
Athersys, Inc. recently announced that it has been granted U.S. patent 8,147,824 that covers the use of non-embryonic, multipotent stem cells for the reduction in severity or prevention of Graft-versus-Host Disease (GvHD), a serious condition associated with hematopoietic stem cell transplants (HSCTs) used to treat leukemia and related conditions.
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Datum: 10.04.2012 - 12:20 Uhr
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