Cellect Biotechnology Ltd. (NASDAQ: APOP)
Cellect Biotechnology is having an incredibly strong day in the market today, and for good reason. The company announced the treatment of its first blood cancer patient early this morning. Below, we’ll talk about what we’re seeing from the stock, the details with regard to the patient, and what we’ll be watching for with regard to APOP ahead.
What We’re Seeing From APOP
As mentioned above, Cellect Biotechnology is having a strong day in the market today. When the opening bell rang, the stock was trading on incredible highs. From there, we saw a bit of a correction, then movement in both directions. Nonetheless, the stock is still holding onto incredible gains. Currently (10:44), APOP is trading at $5.09 per share after a gain of $0.97 per share or 23.54% thus far today.
Why The Stock Is Up
As is usually the case, our partners at Trade Ideas were the first to inform us of the gains on APOP. As soon as they did, the CNA Finance team started digging to see what was causing the movement. It didn’t take long to uncover the story. As stated above, the gains are the result of the company’s announcement of the first blood cancer patient treated in the recently initiated Phase I/II trail of its stem cell technology known as ApoGraft(TM).
In the trial, Cellect Biotechnology intends to assess the Cellect ApoGraft process which is designed to prevent Graft-versus-Host Disease. Unfortunately, this life threatening condition occurs in about half of stem cell transplants. In a statement, Shai Yarkoni, CEO at Cellect Biotechnology had the following to offer…
“Enrolling our first cancer patient to be treated using our groundbreaking method is a critical milestone for millions of patients worldwide. ApoGraft(TM) has been proven to be effective in existing successful stem cells transplants and preventing GvHD during our animal studies. I am excited with prospects of Cellect becoming a key contributor to the fast-growing market for stem cells based products enabling 21st century regenerative medicine.”
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on APOP. In particular, we’re interested in learning more as the patient mentioned above is treated, as well as following the rest of the trial’s progression. Nonetheless, we’ll be watching the news closely and bringing it to you as it breaks!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!