StemCells Inc (NASDAQ:STEM) continues to gain traction from the investor community after the company’s Interim trial showed significant improvement in motor functioning in patients with cervical spinal cord injury.
The company’s press release stated that its six-month Phase II Pathway Study showed substantial improvement in motor movements of patients with cervical spinal cord injury (SCI) both in function and strength. The extent of motor function improvement was determined using dexterity test.
The first cohort of the six-month study showed that four out of six patients reported motor improvement. Muscle strength was found in five of six patients while four of the five patients gained muscle strength and were able to perform functional tasks. Based on the parameters set by Patient Global Impression of Change (PGIC), four out of the six patients positively acknowledged the improvement in their condition post-transplant. The patients gained muscle strength and function after three months of transplant, which is regarded as the normal duration. At the same time, there was no report of any adverse events accruing from the cells.
Third quarter report
The first cohort of the study will help to determine the cell dose to be used in the second cohort of the trial. As per which, the dose of 40M is fixed for the second cohort. The company is likely to report the final results of the first cohort in the second quarter of 2016. The second cohort will include 40 participants experiencing a complete loss of motor function below the point of injury, and the final results are likely to be published in 2017.
Apart from this, the company recently reported an earnings loss of ($0.09), which came at par with the market consensus. The revenues of the company dipped 54.9% year-over-year to $37,000 in the third quarter. The stock of the company closed the previous trading session 0.92% up at $0.550.