Financial Conundrum: Half-a-Billion Dollar Spending Gap in California Stem Cell/Gene Therapy Research

CIRM says it is not slow walking awards

The California stem cell and gene therapy agency has left an estimated $560 million on the table over the last four years and is expected to leave another $37 million there during the coming fiscal year, beginning in July.

Precisely why that has happened is not clear. The agency does not dispute the figures. It says its budget process best serves its mis…