Stem Cell Therapeutics Corp. Announces the Date for the Release of Top-Line Results in the Modified REGENESIS Phase IIb Stroke T
May 19 2010 - 1:01PM
Marketwired
Stem Cell Therapeutics Corp. ("SCT" or the "Company") (TSX VENTURE:
SSS)announced today that the Company will be instructing its third
party contract researchers to finalize the patient data base for
the primary endpoint data of the modified REGENESIS- Phase IIb
stroke trial after the markets have closed on Friday May 21. At
this time the blinded data base and the key to unlock it are held
by two different independent contractors. The modified REGENESIS-
Phase IIb trial, a placebo controlled, double blinded, 3:1
randomized clinical study, enrolled 96 patients with acute ischemic
stroke between August 2009 and January 24, 2010. Once the top-line
primary endpoint data is unlocked a preliminary analysis of this
data can be conducted by the Company for this key Phase IIb
clinical trial of NTx®-265 in acute stroke. Top line results for
primary endpoint data are expected to be announced prior to markets
opening on May 25th, 2010.
SCT management is unaware of any information on the Company that
would have caused the dramatic drop in SCT's stock price earlier
today.
Dr. Alan Moore, President & CEO of SCT commented as
follows:
"The modified REGENESIS- Phase IIb stroke trial has entered into
the final stages of data analysis and the reporting of top-line
results. With the solid efforts of our team we are anticipating the
release of top-line primary endpoint results for the Phase IIb
clinical trial on May 25th, 2010. The change in our stock price
today was very unexpected and since the data has not been
unblinded, we are unaware of any information that would have
impacted our stock price in such a manner."
About Stem Cell Therapeutics Corp.: Stem Cell Therapeutics Corp.
is a Canadian public biotechnology company (TSX VENTURE: SSS)
focused on the development and commercialization of drug-based
therapies to treat central nervous system diseases. SCT is a leader
in the development of therapies that utilize drugs to stimulate a
patient's own resident stem cells. The Company's programs aim to
repair neurological function lost due to disease or injury. SCT's
extensive patent portfolio of owned and licensed intellectual
property supports the potential expansion into future clinical
programs in numerous neurological diseases such as traumatic brain
injury, multiple sclerosis, Huntington's disease, Alzheimer's
disease, and ALS.
These securities have not been registered under the United
States Securities Act of 1933, as amended, or the securities laws
of any state, and may not be offered or sold within the United
States or to, or for the account or benefit of U.S. persons unless
an applicable exemption from U.S. registration requirements is
available.
Except for historical information, this press release may
contain forward-looking statements, which reflect the Company's
current expectation regarding future events. These forward-looking
statements involve risk and uncertainties, which may cause but are
not limited to, changing market conditions, the successful and
timely completion of clinical studies, the establishment of
corporate alliances, the impact of competitive products and
pricing, new product development, uncertainties related to the
regulatory approval process and other risks detailed from time to
time in the Company's ongoing quarterly and annual reporting.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Stem Cell Therapeutics Corp. Alan Moore, PhD President
and CEO 403-245-5495 ext.224 amoore@stemcellthera.com Stem Cell
Therapeutics Corp. Angelika Goncalves DaSilva Operations Manager
403-245-5495 ext. 221 adasilva@stemcellthera.com
www.stemcellthera.com
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