It was alarming that the reduction in pain recorded by the...

It was alarming that the reduction in pain recorded by the placebo group was similar to that of the stem cell group. However I don't believe that this suggests that the stem cells had no effect on the patients. It does suggest that the stem cells reduced pain. It also proves the power of the placebo.

The company points out that its clinical trial showed some promising improvement inside the joints of the patients who had the stem cells, in what are known as "bio-markers".
But Professor Pera wonders whether this is worth the $10,000 cost for a Regeneus treatment.
"Precisely what those measurements mean in terms of long-term outcomes for the patients is unclear," he said.

The bio markers they're referring to showed a reduction in cartilage degradation in stem cell group, but not in the placebo. This is significant.

It is very unfortunate that they didn't interview patients who have had successful treatments. I do feel for the women who had a knee replacement post procedure, but this doesn't reflect the majority of patients' experiences.