CIRM Says Cash Will Come From This Month's Bond Sale

The California stem cell agency confirmed this afternoon that it expects to receive cash from the proceeds of a $3 billion to $4 billion taxable state bond sale later this month.

In response to an inquiry from the California Stem Cell Report, Don Gibbons, a spokesman for CIRM, said,

"We have been told we could receive some level of new direct funding through the bonds that are scheduled to be issued beginning April 20."

Gibbons did not specify an amount or a range or whether it would be enough to scrub plans for a private state bond sale effort by CIRM.

However, we believe that it is quite likely that the amount will be sufficient to fund CIRM at least through this year or until the state's bond mavens believe that another taxable bond issue can be offered.