Advanced Cell Technology, Inc. (OTCMKTS:ACTC) Finds CEO, Surges On News

Advanced Cell Technology, Inc. (OTCMKTS:ACTC) hit a 52 week low of $0.05 on June 16, but has been climbing the charts at an increasing pace ever since. Yesterday, it managed to close 11.20% up on the announcement that it has appointed Mr. Paul Wotton, Ph.D. to the position of company President and CEO.

ACTC‘s most recent ride in the red was mostly caused by investor’s disappointment with the latest dilution that was forced on them, so that ACTC could dodge a lawsuit that it “had substantial risk of losing”. The company’s descent might have been violent, but luckily for ACTC enthusiasts, it didn’t last all that long, and now the ticker is bouncing on big news.

Some time ago, ACTC had announced it public that the company is in the process of conducting a careful search for a new CEO. The search was carried out by the Board of Directors, headed by Mike Heffernan, who had set some pretty high standards for the potential candidates. 

Experience running a publicly traded company in the bio-science sector and experience in managing final stage clinical trials was a must for the candidates – which is only natural, since that is what the company is doing presently. Drug pricing, market authorization and reimbursement, as well as experience in partnering relationships were also qualities that ACTC was looking for in a potential CEO.

Suffice it to say that Dr. Wotton more than fulfills all these requirements. His resignation from Antares Pharma Inc. (NASDAQ:ATRS) hit ATRS badly, which is just another proof of his value as a CEO. His joining of ACTC was universally taken as a huge step forward for the company – after all, he left ATRS to join ACTC, which must mean that he saw great promise in ACTC.

Presently, investors are very optimistic about this appointment – now that someone with the experience and qualifications needed to run a successful NASDAQ company has taken the wheel, ACTC‘s ambitions look a bit more believable. However, it should be noted that despite the good news, ACTC is obviously still a long way away from becoming commercially successful. This step forward can be viewed as a sign that the company is pushing in the right direction, but the actual results that Dr. Wotton’s appointment is likely to bring will take quite some time to become obvious.