Cellect Biotechnology (NASDAQ:APOP) shares surged 59% after first ApoGraft Bone Marrow Transplantation in U.S.

About the company

Cellect Biotechnology (APOP) has created a ground-breaking technique for collecting stem cells from any tissue, with the goal of improving a range of cell-based treatments. The Company’s technology is projected to give researchers, clinicians, and pharmaceutical firms the ability to swiftly extract particular cells in large quantities and of high quality, allowing cell-based therapies and procedures in a wide range of regenerative medicine applications. The company is now conducting a clinical study for bone marrow transplants in cancer therapy. In March 2021, Cellect Biotech announced a merger agreement with Quoin Pharma.

Cellect Biotechnology Ltd. (NASDAQ: APOP) reported the first ApoGraftTM transplantation in a Leukemia patient in the Company’s clinical study at Washington University in the United States, demonstrating ongoing clinical success. ApoGraftTM is a product based on the Company’s cell selection technology that is intended to improve immune treatment, specifically to avoid graft-versus-host disease (GVHD) after bone marrow transplants.

Cellect shares surged 59%

After-hours, APOP stock jumped 59%. The previous day’s closing was $5.50. ApoGraftTM advancement will be undertaken by EnCellX, the privately operated U.S. based business that is purchasing Cellect’s unique technology simultaneously with the previously discussed strategic merger transaction involving Cellect and Quoin Pharmaceuticals. The study will include 18 patients who are receiving haploidentical bone marrow transplantation and have hematological malignancies (BMT).

EnCellX is gathering money from prominent healthcare institutional investors to accelerate and extend clinical research, led by Founder and CEO Adi Mohanty. Dr. Shai Yarkoni, Cellect’s Chief Executive Officer, stated that this is a key breakthrough for Cellect and reflects the team’s expertise and devotion in getting them to this stage, and that they are excited to collaborate with EnCellX, whose staff in the United States will join forces with Washington University to continue patient recruitment. ApoGraft, according to the business, decreases the risk of life-threatening rejection illness and other undesirable immune reactions by isolating the stem cells required for transplant from those that cause side effects.

This success comes as EnCellX seeks to improve its balance sheet in the short term to support continued clinical research, after the announcement of encouraging topline data from the Israeli ApoGraftTM study. Previous outcomes or conclusions from scientific research and clinical trials do not imply that future results will indicate similar conclusions, or that historical results cited in their study will be regarded similarly in light of subsequent research or otherwise.

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