Earlier this week, Edison Investment Research, a leading
independent investment intelligence firm, commenced coverage of International
Stem Cell Corp. (OTCQB: ISCO). In the initial report, Edison gives prospective
investors an in-depth look at ISCO’s current market position, including its
impending Phase I/IIa clinical trials for the treatment of Parkinson’s disease,
as well as its revenue-generating subsidiaries, Lifeline Skin Care and Lifeline
Cell Technology, which Edison suggests ‘provide a floor under ISCO’s current
valuation, creating an essentially free option on the PD candidate’.
To view the full report, visit http://dtn.fm/fIF6B
Leveraging its innovative human parthenogenetic stem cell
(hpSC) technology, ISCO has developed 15 unique stem cell lines capable of
functioning as a variety of cell types, such as livers cells, neural cells and
three-dimensional eye structures. Crucially, ISCO’s groundbreaking platform
enables the advancement of regenerative medicine while avoiding the common
ethical concerns that have gone hand-in-hand with embryonic stem cells. Using a
risk-adjusted net present value methodology and taking the market potential of
this technology into account, Edison valued ISCO at $27 million, or about $9.60
per share on an undiluted basis. While the company’s success is largely
contingent on the successful execution of its Parkinson’s disease clinical
trials and its ability to attract a licensing partner to move forward with
additional testing, strong preclinical data in primate studies highlights the
promise of ISCO’s hpSC technology as the company approaches commencement of its
Phase I clinical trial in Australia.
“Promising preclinical results support our expectation that
ISC-hpNSC will bring a long-needed solution for patients suffering from
Parkinson’s disease,” Russell Kern, PhD, executive vice president and chief
scientific officer of ISCO, stated in a news release. “The ability of our
approach to replace and protect dopaminergic neurons and restore neural
function offers significant potential benefit to patients. We look forward to
preliminary clinical data in Q4 2016.”
Over the next decade, Edison forecasts ISCO’s revenues
through its cosmetic/skincare business to grow from $3.5 million to $4.8
million, achieving a compound annual growth rate of 3.2 percent, which is in
line with forecast growth of the global skincare market. The research firm
suggests that ISCO could begin generating profits stemming from the development
of its stem cell technology by 2024, assuming the company’s promising
preclinical results hold true throughout clinical testing.
For more information, visit www.internationalstemcell.com
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