January 27, 2014
Stem Cell Company in Crisis (Heidi Ledford, 1/27/14, Nature magazine)
Posted by Orrin Judd at January 27, 2014 3:57 PMThe company is running the only Food and Drug Administration (FDA)-approved clinical trials of embryonic stem (ES)-cell therapies. [...]Yet a series of financial missteps could cost ACT the opportunity to see that potential become reality. On 22 January, the firm announced that its chief executive, Gary Rabin, was stepping down. The news came a month after ACT--which had $5.5 million in cash on-hand as of 30 September 2013--announced that it would pay $4 million to settle a Securities and Exchange Commission (SEC) charge alleging that the company had illegally sold billions of shares of stock.
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