Market Mover Alert! Vericel Corporation – Nasdaq: VCEL
Pre-market activity in shares of Cambridge, MA based Vericel Corporation is heavy. VCEL trades on the Nasdaq and closed Tuesday at $2.60 but today’s pre-market activity has seen the shares reach as high as $4.75 on large volumes. Traders appear to be responding to today’s news that Vericel Corporation has received FDA approval for MACI – an orthopedic treatment for repairing certain cartilage defects in the knee.
According to Vericel’s Corporation’s press release, David Recker, MD, chief medical officer of Vericel stated:
“While orthopedic surgeons have long understood that autologous chondrocyte implantation can regenerate cartilage tissue, the previous surgical procedure was technically complex and time consuming, and the indicated patient population was limited. MACI is the first product to show a statistically significantly greater improvement in KOOS pain and function scores compared to microfracture, a commonly performed alternative surgical treatment for cartilage repair, in a well-controlled Phase 3 clinical study. With the introduction of MACI, orthopedic surgeons will have a simplified treatment option available for a broader patient population supported by solid clinical evidence.“
VCEL began an upward swing in mid-November when the company released positive news on its Phase 2b clinical trial of Ixmyelocel-T; a drug designed to treat ventricular arrhythmia episodes. Taking today’s pre-market session into account, VCEL has more than doubles since it’s November lows around $2.00. Vericel has never had positive EPS, but they have managed to narrow the loss each year on successfully higher revenues.
Always perform your own due diligence before making any decisions regarding the buy or sale of any stock. The below data is provided without any guarantee of its accuracy.
|Last Price a/o 8:20 EST||$ 4.35|
|Market Cap||$54.7 million|
|Shares Outstanding||21.05 million|
|Share Float||21.05 million|
|Short Interest Ratio||0.76|