StemCells applies to list on Nasdaq National Market

By Jennifer Chiou

New York, Sept. 27 - StemCells, Inc. announced it filed an application to list on the Nasdaq National Market, according to an 8-K filing with the Securities and Exchange Commission.

The Palo Alto, Calif., biotechnology company said it believes it will have shareholder equity of at least $30 million on Sept. 30 and meets all other Nasdaq listing criteria. As of June 30, the company had total stockholder equity of $32 million.

StemCells also noted it obtained a 7.5% equity interest in ReNeuron Ltd. after entering into a license agreement with the wholly owned subsidiary of ReNeuron Group plc.

StemCells is currently listed on the Nasdaq SmallCap Market.

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