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WBB Upgrades NeoStem ($NBS), Target = $2.00

WBB Securities upgraded NeoStem (NASDAQ: NBS) to a Buy with a 12 months price target of $2.00 per share. The report cited a few reasons which include:

  1. Expansion of the intellectual property associated with Amorcyte beyond STEMI (Heart attacks) to all Vascular Insufficiency.
  2. New PCT clients on-board such as Immunocellular (IMUC) - (working on a dendritic cell based approach to brain cancer), and Islet BioSciences (microencapsulated insulin-producing, pathogen free swine (pigs) for type 1 diabetes’s. NeoStem actually gets a royalty on commercial sales (utilizing PCT's manufacturing currency to participate in clients downstream revenues).
  3. Divestiture of China Generic company (WBB estimates $25 million).
  4. The start of the Amorcyte Phase II trial.

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