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StemCells Inc. To Wind Down Operations After Phase II Failure

 
• By Mandy Jackson

StemCells Inc. plunged 81.2% to $0.57 per share on May 31 after the company revealed little chance of success for a Phase II spinal cord injury study, which has been terminated, and said that it may not be able to return any cash to shareholders after StemCells winds down its operations this year.

StemCells Inc. plunged 81.2% to $0.57 per share on May 31 after the company revealed little chance of success for a Phase II spinal cord injury study, which has been terminated, and said that it may not be able to return any cash to shareholders after StemCells winds down its operations this year.

The Newark, California-based company has struggled to keep its share price above $1 and executed a 12-for-1 reverse stock split on May 6 to boost its stock value from $0.24...

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