Court Ruling For Embryonic Stem Cells Boost Stocks (STEM, CELG, OSIR)

A court ruling allowing the federal government to fund embryonic stem cells has boosted some stem cell stocks, and handed a victory to the Obama administration. Last year, a federal judge ruled that the research violated the law because embryos were destroyed, and it put those working with adult stem cells at a disadvantage. According to the report from Reuters, there was a 2-1 decision from an appeals court overturning the prior judge's ruling, saying that the law was "ambiguous" and "did not prohibit funding a research project in which an ESC (embryonic stem cell) will be used." Dr. James Sherley, and Theresa Deisher were the researchers who sued embryonic stem cells to stop receiving funding. Names like Osiris Therapeutics, Inc. OSIR, StemCells STEM, and Celgene Corporation CELG, all which have divisions working on stem cells, and the hope that it holds for curing diseases, such as Parkinson's and Alzheimer's.