APOP stock is having a solid day with a gain of over 100% after Cellect Biotechnology Ltd. (NASDAQ:APOP) reported positive results from its ongoing Phase 1/2 clinical study of ApoGraft.
Solid News
One stock that has gone on an impressive rally this morning is Israel-based biotechnology company Cellect Biotechnology. It has emerged that the Data and Safety Monitoring Board (DSMB) has completed a review of Cellect’s product ApoGraft and made its recommendations. The review was done during the Phase 1 and Phase 2 studies of the product that are currently ongoing, and in its review, the DSMB recommended escalation of doses.
Additionally, it recommended the continuation of the fourth and fifth cohort in the testing. It goes without saying that it is a significant development for Cellect Bio, and the market agreed as well.
During the morning session, APOP stock rallied by as much as 105% at $0.85, and it is surely going to be one of the stocks to watch this week.
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Moreover, during the testing period, it has emerged that patients who had been treated with ApoGraft had displayed improvement in their condition. In addition to that, there were no adverse effects from the medicine either. The DSMB is a regulatory body in Israel, and its recommendations are definitely a great development for the company’s plans for the medicine in its home country. The company is going to enroll three more patients for its study by the end of 2019 as it gets closer to its goal of getting the medicine approved.
However, the company also has plans for its operations in the United States and its Chief Executive Officer, Dr. Shai Yarkoni, said as much in a statement. He said, “In the U.S., we are getting closer to realizing our plans to initiate our first trial in the U.S. as evidenced by the SRC’s recent approval of our study.” Approval from the regulator in the United States is, after all, the ultimate prize but as of now, things are looking quite promising for Cellect Biotechnology and its product ApoGraft.
Despite today’s big jump, APOP stock is still down 65% year-to-date.
Featured image: DepositPhotos © Sonar
