I'm going with C in this one.
There are two possible parallelism points here hope that ... and master cells can be. None of the options include that, so I think that we should try to find parallelism in the rest of the sentence.
Doctors
hope that one day the body’s master cells
can be (A) master cells
can be directed to grow in organs or tissues appropriate for transplant, use them to test drugs and potentially toxic chemicals, and may study them to gain insight into basic human biology
this sentence suggests that the master cells use themselves to test drugs out.
(B) master cells
can be directed to grow in organs or tissues appropriate for transplant, using them to test drugs and potentially toxic
chemicals, and studied.
using and studied are not parallel
C. master cells
can be directed to grow in organs or tissues appropriate for transplant,[can be] used to test drugs and potentially toxic chemicals, and [can be] studied.
I think that this is the correct answer choice. the three elements are parallel.
D. a transplant, use them for testing drugs and potentially toxic chemicals, and for studying.
I think that as in A this sentence suggests that master cells use themselves for testing and for studying.
E. a transplant, used to test drugs and potentially toxic chemicals, and may study them.
used is not parallel to may study them