Biostage Inc (NASDAQ:BSTG)
Biostage Inc (NASDAQ:BSTG) stock is up over 20%, at $0.55, after the company announced the its Cellspan Esophageal Implant product candidate was used in a patient via an FDA-approved single-use expanded access application. BSTG shares ended Friday at $0.46 and gapped up to open at $0.62 before hitting a high of $0.65. Share volume is extremely heavy. The 30-day, daily volume is listed at 777,500 but already today over 5.1 million shares have traded. Biostage stock price chart:
Holliston, MA-based Biostage Inc (NASDAQ:BSTG) is a biotechnology company that seeks to develop bioengineered organ implants based on the Company’s proprietary Cellframe™ technology. Cellframe technology combines a proprietary biocompatible scaffold with the patient’s own stem cells to create Cellspan organ implants, essentially re-growing the patient’s own organs. Cellspan implants are being developed to treat life-threatening conditions of the esophagus, bronchus, or trachea with the hope of dramatically improving a petient’s treatment outcomes. Based on preclinical data, Biostage selected life-threatening conditions of the esophagus as the initial clinical application of its technology.
On May 4, 2017, the Cellspan Esophageal Implant was surgically implanted into a 75-year old male with a life-threatening cancerous mass in his chest. The surgery was required to address the tumor’s encroachment on the patient’s lung, heart, and esophagus. The portion of the esophagus affected by the cancer was removed and the Cellspan Esophageal Implant was utilized to reconstruct the esophagus. The patient is now alive three months after surgery. Biostage believes that the Cellspan Esophageal Implant has performed as designed.
Within a collaborative agreement between Biostage and The University of Texas Health Science Center at Houston (UTHealth), the patient’s own stem cells were processed, seeded, and grown onto the scaffold at the Cellular Therapy Core of the Program in Children’s Regenerative Medicine at UTHealth, prior to release for transport to the institution carrying out the surgery.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.