Cellect Shares Rally After Lead Stem Cell Program Receives Clearance For Midstage Study

The thinly traded nano-cap penny stock CELLECT BIOTECH/S ADR APOP was soaring Monday.

What Happened

Israel-based Cellect, a developer of stem cell production technology, announced Monday that the Data and Safety Monitoring Board recommended dose escalation and the continuation of enrollment for the fourth and final dose cohort in the ongoing Phase 1/2 clinical study of ApoGraft.

ApoGraft is a platform or production technology designed to eliminate immune responses in any transplantation of foreign cells and tissues.

The determination from the DSMB comes after one-month data from the ninth patient enrolled in the mid-stage trial became available.

Cellect said that at one month after transplantation, the patient has shown complete engraftment and has not shown any procedure-related adverse effects.

"In Israel, the DSMB's recommendation to proceed to the final cohort of our ApoGraft study without modification furthers us towards meeting our goal of enrolling the final three patients by the end of this year, which reaffirms the positive safety data to date," Cellect CEO Dr. Shai Yarkoni said in a statement. 

What's  Next

Cellect said it now expects to complete patient recruitment by the end of 2019, with data from the trial due in the first half of 2020.

The primary endpoint of the trial is the evaluation of the overall incidence, frequency and severity of adverse events potentially related to ApoGraft at 180-days post-transplant, according to the company. 

In the U.S., Cellect is set to initiate its first trial following Washington State University's Scientific Review Committee approving its study with no comments.

Price Action 

Cellect shares were trading higher by 78.55% at 74 cents at the time of publication Monday. 

Related Links:

The Week Ahead In Biotech: Vanda Awaits FDA Decision, BioVie Plans IPO

Attention Biotech Investors: Mark Your Calendar For These August PDUFA Dates

Posted In: stem cellsBiotechNewsPenny StocksMarketsTrading IdeasGeneral

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.