California's $5.5 Billion Stem Cell Countdown: Nearly 15 Percent Along the Path Towards a Rescue

The latest figures on the effort to save the financially strapped California stem cell agency show that it is 14.7 percent along the way to placing a $5.5 billion rescue measure on the November ballot. 

State election officials reported late yesterday that the proposal now has  91,442 valid or projected valid signatures of registered voters. It needs 623,212 valid signatures and has submitted 924,183 "raw" signatures. 

The signature disqualification rate stands at about 22 percent. 

Large counties such as Los Angeles and San Diego have not yet reported on their verification efforts. The state deadline for counties to report their figures to the state is June 24 -- 20 business days away. 

The stem cell agency is running out of cash and will begin closing its doors next fall unless it receives a substantial infusion of cash.

(Editor's note: An earlier version of this item incorrectly stated that the disqualification rate was 78 percent. It is 22 percent. The percentage of signatures that have been qualified stands at 78 percent.)