It has been a tough year for Korean stem cell biotech RNL Bio in my opinion.
It is involved in litigation with former patients and its former partner, Celltex.
It is also reportedly under investigation by the Korean Government for alleged stem cell smuggling.
The stock of this publicly-traded company has also been battered. On Friday alone it reportedly plunged 15% (the maximum daily limit for a decrease). Thus, it seems likely to dive further on Monday.
Reuters also reported that trading in RNL Bio was halted after a negative report from the firm on its capital impairment.
Businessweek reports that the stock price of RNL has plummeted more than 60% in just 6 months (see graph above).
All in all, not an encouraging set of developments for the stem cell company from my view.