Biotime is now worth over 41 million dollars BioTime is at $1.75 as of Aug 29, 2008 10AM PST.
Michael West, BioTime’s CEO, said the rise was likely due to delayed reaction to a patent agreement signed last week with Alameda-based Advanced Cell Technology.
“I’ve been talking to a lot of shareholders and investors since the news asking me, ‘Isn’t this kind of a big deal’,” West said. “And I tell them unabashedly, ‘Of course it is.'”
BioTime has just nine full-time employees, no analyst coverage and is traded over-the-counter, but its leader, West, is consider a pioneer in the industry.
He says lately more people are taking notice of the company.
“If you look at the two major players in the stem cell space, they are Geron and ACT (Advanced Cell Technology), and I started them both,” West said. “Maybe because of that people are starting to look at what I’m doing here.”
BioTime’s lead product is called Hextend, which is a synthetic blood plasma volume expander used in surgery for patients with blood loss.
One of BioTimes goals is to keep its stock price consistently traded over $1, which will allow it to be traded on a major trading market such as the Nasdaq. West said that “should be relatively easy to do.”