In the world of biotechnology, hype and hyperbole are the norms. Most companies lack products so they are constantly scrounging for money to stay in business. There is a saying in biotech that before companies have something to sell "news flow drives valuations." So headlines, even if the claims prove groundless, can push up the stock price long enough — or nudge deals forward — to keep the company on life support.
But even in this smelly landscape Advanced Cell Technology stands out. Its president and chief scientific officer Dr. Michael West has repeatedly proven his ability to thrust himself and his company into the headlines sometimes with good science but often with dubious claims.
Wednesday, August 30, 2006
Robert Bazell gets it
Thankfully, at least one member of the mainstream media is on to Advanced Cell Technology's strategy of raising money by hype.