Cellect Biotechnology Ltd. (NASDAQ:APOP)
Shares of Cellect Biotechnology Ltd. (NASDAQ:APOP) gained 10.8% after the stem cell developer achieved a major milestone with the conclusion a large study on the use of ApoGraft on stem cells derived from fat tissues. According to the company, the technology led to both an expansion of cells and an improvement in unique cell activity and attributes.
ApoGraft Study Results
According to Cellect Biotechnology Ltd. (NASDAQ:APOP) CEO, Dr. Shai Yarkoni, the study validates the use of the stem cell selection technology on a much wider array of companies and medical centers around the world. The technology could be of great help to the aesthetic and orthopedic industries where fat-derived stem cells are the main raw materials. Up until now, ApoGraft has mostly been used on blood cells. Buoyed by the positive results, Cellect Biotechnology plans to carry out clinical programs and licensing deals for the technology.
APOP Investor Reaction
The positive ApGraft study results helped strengthen investor confidence on the stock seen by the stock skyrocketing to $10 before it dropped to end Wednesday’s trading session at $8.82 a share. The stock is still in consolidation mode after failing on three attempts to rise above the $11 level.
However, the stock is up by more than 140% for the year as it continues to outperform the overall industry. Analysts and brokerage firms have already reacted to the positive trial results by initiating coverage of the stock.
HC Wainwright’s analyst Ram Selvaraju has initiated coverage of the stock with a ‘Buy’ rating. The analysts currently has a $14 price target on Cellect Biotechnology Ltd. (NASDAQ:APOP).
Renewed investor interest on the stock comes on Cellect Biotechnology Ltd. – American Depositary Shares (NASDAQ:APOP) announcing that the significant milestone with ApoGraft technology, positions the company to pursue strategic alliances with other companies.
“This breakthrough finding is increasing our addressable market by an order of magnitude. We can now actively seek strategic alliances for the commercialization of ApoGraft™” in aesthetic medicine as well as orthopedic indications,” said Mr. Yarkoni.
Separately, Cellect Biotechnology Ltd. (NASDAQ:APOP) has confirmed the appointment of Dr. Ronit Bakimer-Kleiner as the new Chief Development Officer, replacing Dr. Yaron Pereg. She takes over with over twenty years of experience as a scientist and executive manager in the biotechnological industrial environment. Ronit previously served as the General Manager of Cognate Bioservices Ltd.
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: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.