Stem-cell firms surge as Obama fuels funding hopes

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Source: Yahoo / Reuters

(Reuters) – Shares of companies developing therapies based on stem cells surged on Monday, after confirmation over the weekend that U.S. president-elect Barack Obama plans to reverse an existing executive order against federal funding of embryonic stem-cell research.

Companies such as Geron Corp and StemCells Inc saw a sharp rise in their stock price as investors rushed to be a part of a field that holds significant commercial potential.

"People now know what the future executive landscape is going to look like, and they are trying to figure out how to profit from it," WBB Securities analyst Steve Brozak said.

Stem cells are the body's master cells, giving rise to tissues, organs and blood. Scientists hope to harness their power to transform medicine, to repair devastating injuries, replace the brain cells lost in Parkinson's disease, cure juvenile diabetes, or treat diseases such as Alzheimer's.

Read more: http://news.yahoo.com/s/nm/20081110/sc_nm/us_stemcellresearch_shares_1

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