Cellect Biotechnology Ltd. (NASDAQ: APOP) is having an overwhelmingly strong start to the trading session this morning after announcing breakthrough results surrounding stem cell technology. Of course, this led to excitement among investors, sending the stock toward the top. Below, we’ll talk about the breakthrough, what we’re seeing from the stock as a result, and what we’ll be watching for ahead.
APOP Gains On Stem Cell Breakthrough
As mentioned above, Cellect Biotechnology is having an overwhelmingly strong day in the market today after announcing a stem cell-related breakthrough. The company announced that it has successfully completed transplantation of the first group of three patients with the use of their ApoGraftTM technology.
The transplants were completed in the company’s Phase I/II clinical trial. In the release, APOP said that, after one month, all three patients that completed the transplants have demonstrated complete acceptance with no adverse events related to the study treatment. Also the company said that there were no adverse events or suspected unexpected serious adverse reactions.
APOP said that it believes that the interim results surrounding ApoGraft present the first signs of a breakthrough in stem cell transplantation. According to the release, the product is transplantable within less than 12 hours from donation. In a statement, Dr. Shai Yarkoni, CEO at APOP, had the following to offer:
“Our ApoGraft technology shows consistently successful results in the use of stem cell transplants for treating patients suffering from life-threatening conditions. We see our position strengthened with each patient treated. We aim for stem cell based regenerative medicine to become a safe and affordable treatment for most of mankind’s diseases.”
What We’re Seeing From the Stock
As investors, one of the first things that we learn is that the news moves the market. In the biotechnology space, there are few bits of news that can cause movement quite like medical breakthroughs. So, with the overwhelmingly positive news surrounding Cellect Biotechnology, it only makes sense that we’re seeing strong gains in the value of the stock today. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:58), APOP is trading at $10.42 per share after a gain of $3.32 per share (46.62%) thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on APOP. In particular, we’re interested in following the ongoing development of ApoGraft and excited to see this breakthrough therapy progressing at a positive rate. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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