The stock of CELLECT BIOTECH/S (NASDAQ:APOP) closed at $8.65 losing 9.61% in yesterday’s trading session. The ‘breakthrough’ trial announcement brought it to the attention of many who had been following closely on the progress of Cellect that the company’s stock had as a result moved up by about 40 percent. However, it is crucial to point out to the fact that the results were derived from only three patients on trial.
Cellect in its most recent statement outlined that it had plans underway to enroll more patients but would only move ahead to do that after the safety review committees reviewed the latest results.
Cellect CEO Dr. Shai Yarkoni said, “These interim results further support that we are closer than ever to a world where stem cells are used to replace sick organs and damaged tissues. In late March, Cellect shares rose 74% after the company announced that the phase 1/2 trial’s first transplant procedure had been completed.”
Basically, the key word there is “interim” and the reality of the matter is that the company is at the moment anticipating positive results to emanate from the three patients in the trial and exudes confidence that with the passage of time it might end up enrolling about 12 patients in total.
The phase 1/2 trial is all about putting under test Cellect’s ApoGraft technology and all this has to do with the ability to pick out stem cells from other cells in a concerted effort prevent the complications that might pop up following the stem cell transplants.
In a month’s time after the receiving the stem cell transplant, Cellect disclosed that it had been impressed with the results considering that the first group of patients had received the transplant pretty well without any major safety concerns.
There is no single company that won’t be pleased by the attainment of promising results and Cellect on its own part was glad that despite the notoriously difficult complications that pull along with the stem cell transplants it was able to arrive at a rather promising end.