President Obama Lifts Stem Cell Research Ban

By Hercules Kataveli, B2P
Published on Tuesday March 10, 2009 at 6:48 pm ET
Updated 08-23-10, 3:25 pm ET

President Obama has just changed legislation that significantly restricts federal funding of human embryonic stem cells research. Obama also pledged to support scientists and professionals who lead the way in research.

President Obama today said at the White House following a strong applause, “As a person of faith, I believe we are called to care for each other and work to ease human suffering. I believe we have been given the capacity and will to pursue this research…and the humanity and conscience to do so responsibly.”

Obama remains strongly committed against human cloning but believes new developments in the field have significant potential to lead to medical cures and breakthroughs.

Obama failed to release provide regulation details, though has given the National Institutes of Health 120 days to draft guidelines.

Today’s promising announcement raised related company stocks. Geron Corp for example was up about 35% following the news.

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Hercules holds a B.Comm Finance from Ryerson University in Toronto, Canada. He is a Chartered Financial Analyst (CFA) level 3 candidate. He was previously a contributor at FiLife, a finance website owned by Dow Jones and IAC. Write to [email protected]
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