CellCyte shares ride a wave of hype
| December 9, 2007 |  View for printing |
For years, the founders of CellCyte Genetics http://www.cellcyte.com/ relied on infusions from angel investors to keep their tiny startup afloat. But after Kirkland-based CellCyte combined with a moribund public company, its shares caught fire this fall in the loosely regulated over-the-counter (OTC) market and on Germany's Frankfurt Stock Exchange.
A wave of glossy brochures and spam faxes, touting CellCyte with lofty claims, has helped propel the company's total market value to more than $440 million. That's greater than many local biotechs that are far more advanced in developing therapies. Suddenly, the two founders each have a stake worth about $137 million.
By Ángel González
Seattle Times business reporter
Full Story: http://seattletimes.nwsource.com/htm ... cyte09.html
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