Presented herein are methods of generating a multipotent or immature cell from a mature somatic cell, involving contacting a mature somatic cell with one or more small molecule compounds selected from: a histone deacetylase (HDAC) inhibitor a glycogen synthase kinase 3 (GSK-3) inhibitor one or more transforming growth factor-beta receptor (TGF-βR) inhibitors one or more lysine-specific demethylase 1 (LSD1) inhibitors a cAMP agonist a histone lysine methyltransferase (EZH2) inhibitor and a histone methyltransferase (HMTase) G9a inhibitor valproic acid. Also provided are methods of generating a multipotent or immature cell from a somatic cell, by driving expression of OCT4, or an OCT4 functional homolog or derivative, under the control of a high expressing promoter. Presented herein are also methods of stem cell expansion, stem cell regeneration and differentiation, which comprise contacting stem cells with one or more small chemical compounds.