Biotech Penny Stock in Focus; ACTC Awaiting FDA Approval for Eye Disease Treatment

Posted by on Aug 05, 2010 | No comment

Advanced Cell Technology Inc. (OTC: ACTC) is currently seeking the Food and Drug Administration’s approval for its embryonic stem cell therapy, retinal pigment epithelium (RPE).

The therapy is designed for treating an inherited condition known as Stargart disease, which affects children and may cause blindness in adulthood. The company was recently awarded broad patent for production of retinal pigment epithelial cell. The cells are expected to be used in the phase I trial of the company’s treatment of Stargardt disease.

The company filed its application for FDA approval in November last year and asked by the FDA for additional information, to which Advanced Cell responded last week. The FDA is expected to release its decision within 30 days.

Advanced Cell is focused on the development of human embryonic and adult stem cell technology. The biotech company is concentrating on the regenerative medicine segment and is currently developing an autologous myoblast transplantation therapy. This therapy will eventually be used for treating patients suffering from advanced heart disease.

Advanced Cell Technology’s market cap is 66.43 million and its 52 week price range is between $0.06 and $0.17. The penny stock has a 50-day moving average of $0.077 and a 200-day moving average of $0.092. The penny stock is currently moving below its 50 days and 200 days moving average.  Its first resistance level is at $0.08. Any rise above it will be resisted at $0.09 level. The penny stock’s support level is at $0.07. In last six month, the company insiders have sold 2,239,023 shares of Advanced Cell Technology.

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About BeaconEquity.com

BeaconEquity.com is committed to producing the highest-quality insight and analysis of small-cap stocks, emerging technology stocks, hot penny stocks and helping investors make informed decisions. Our focus is primarily OTC stocks in the stock market today, which have traditionally been shunned by Wall Street. We have particular expertise with renewable energy stocks, biotech stocks, oil stocks, green energy stocks and internet stocks. There are many hot penny stock opportunities present in the OTC market everyday and we seek to exploit these hot stock gains for our members before the average daytrader is aware of them.

Beacon Equity Group Disclaimer

This newsletter is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Beaconequity.com is a wholly-owned subsidiary of BlueWave Advisors.

While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a real licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

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