Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on STEMCELLS INC. We currently have 3 research reports from 1 professional analysts.
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Critical juncture in spinal cord injury
05 Feb 16
StemCells has reached a critical juncture in its development program with a highly encouraging interim analysis of its Phase II PATHWAY study pointing to promising efficacy in cohort 1 of its human central nervous system stem cells (HuCNS-SC) in lead indication spinal cord injury (SCI). Given limited financial resources, StemCells is realigning operations to focus efforts on the internal funding for key pivotal Phase III SCI trials. New group leadership by way of a recently announced change in CEO comes on the heels of the current company reorganization.
Phase II trials underway
01 Sep 15
StemCells has announced transplantation of the first patient in a recently initiated Phase II trial, evaluating its human central nervous system stem cells (HuCNS-SC) as a treatment for dry age-related macular degeneration (AMD). Progression into the Phase II RADIANT trial was supported by the top-line results of its Phase I/II dose-ranging trial in dry AMD announced in June. Additionally, the company began dosing the first cohort in its Phase II PATHWAY study in cervical spinal cord injuries (CSI) earlier this year. At a price of $0.41, the shares offer considerable potential, currently trading significantly below our risk-adjusted fair value of $1.82 per share.
On the PATHWAY towards pivotal studies
08 Jun 15
StemCells is steadily progressing its pipeline of proprietary human central nervous system stem cells (HuCNS-SC), focusing on CNS disorders. Trials in its two lead indications, spinal cord injuries (SCI) and dry age-related macular degeneration (AMD) are now migrating from early and encouraging dose finding and initial efficacy to larger Phase II studies powered for proof of concept. Early findings are expected to begin feeding through in the current year. We believe StemCells' shares offer considerable value on a current price of $0.74, well below our risk-adjusted fair value calculation of $1.95 per share. Additionally, the company has recently filled its coffers with a successful share offering.
Interim results – adhering to international growth strategy
23 Feb 17
Interim results showed a strong performance for Tristel, 6% ahead of its AGM statement on 12 December at which it indicated adjusted pre-tax profits to be no less than £1.6m. Revenues increased by 22% (16% at constant exchange rates – CER or 12% CER excluding the impact of the Australian acquisition) and adjusted pre-tax profits were up 15% to £1.71m. Despite the strong half, we leave our full-year forecasts unchanged, given FX uncertainty and a one-off stocking order in H1 from the NHS, although at current FX rates the risk to our forecasts is considered to be to the upside. However, we raise our target price by 10% to 165p to reflect the solid progress as well as rolling forward our multiples to calendar-adjusted 2017.
N+1 Singer - Morning Song 22-02-2017
22 Feb 17
CORETX (COR LN) Contract wins and new Lifestyle facility | Gooch & Housego (GHH LN) Solid Q1 trading plus earnings enhancing acquisition of StingRay Optics | NCC Group (NCC LN) Further issues in Assurance | PCI-PAL (PCIP LN) Strong H1 underpins positive outlook | UBM (UBM LN) Results | Verona Pharma (VRP LN) Phase IIa RPL554 add-on trial to tiotropium commenced
N+1 Singer - Morning Song 21-02-2017
21 Feb 17
Abzena (ABZA LN) Contract bookings strong; US costs higher than expected | City of London Investment Group (CLIG LN) Earnings and interim dividend in line, some modest growth in FuM | dotdigital Group (DOTD LN) Good H1; broadening avenues of growth | Grafenia (GRA LN) Weak print volumes | Vernalis (VER LN) Interims highlight increasing Tuzistra™ scrip volume
Panmure Morning Note 15-02-2017
15 Feb 17
With the early January trading update having prompted us to upgrade forecasts, today’s interim results show how the group’s focus on areas such as product development and international sales are translating through to growth in both the top and bottom-line. The consistency of delivery is what impresses us, reflecting the maturity of the management team and the clarity of the longterm vision. We repeat our Buy recommendation.
N+1 Singer - Morning Song 23-02-2017
23 Feb 17
Genus (GNS LN) Interim results: R&D step-up, disappointing ABS performance | Howden Joinery Group (HWDN LN) Prelims and net cash better than expected but conditions weaken | Oxford Pharmascience Group (OXP LN) Encouraging interim OXPzero™ Ibuprofen exploratory PK data | StatPro Group (SOG LN) Increased majority shareholding in Infovest Consulting | Wilmington Group (WIL LN) Interims slightly ahead, move to focus on 3 verticals
13 Dec 16
Tristel has announced in its AGM statement that it expects to report first half adjusted (share-based payments) pre-tax profits to be no less than £1.6m. This compares with £1.5m in the 6 months to December 2015 and is in line with management’s expectations and stated strategic financial goals: (i) revenue growth within a range of 10% to 15% as an annual average over the 2016-19 period, (ii) maintaining a minimum pre-tax profit margin of 17.5% and (iii) distributing cash that is not required for the operational and investment needs of the business to shareholders in the form of dividends. Our forecasts for the full year are for adjusted pre-tax profits of £3.6m, and include a contribution from the acquisition of its previous Australian distributor for its Wipes System from 21 July 2016 (ie 11 months contribution in the full year). Our forecasts also include £0.5m of US development expenses for the full year (incremental £370k), which impacts margins by c190bps. We make no changes to either our forecast or target price; however, note that risks to both of these are on the upside.