Thursday, December 15, 2011

StemCells plans to sell more stock, shares fall

After announcing that the first group of spinal cord injury patients in an early-stage trial received its transplanted neural stem cells, StemCells Inc. said Thursday that it sell more common stock and warrants.
Newark-based StemCells (NASDAQ: STEM) said it would use the money for working capital and operations, including product development. The company did not say how many shares and warrants would be issued but said it is under a current shelf registration.

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