Why Is Creative Medical Technology Stock Skyrocketing Today?

Creative Medical Technology (NASDAQ:CELZ) shares are trading higher on Wednesday after the company announced one-year follow-up data and significant efficacy using CELZ-001 to treat patients with Type 2 Diabetes without any serious adverse effects reported.

The use of CELZ-001 in a one-year follow-up study, with the same infusion procedure as the currently US FDA-cleared CELZ-201 clinical trial, did not raise any safety concerns. The study included 30 patients, with 15 receiving CELZ-001 and the rest receiving optimized medical therapy. The results showed an overall efficacy of 93% in the treated patients, demonstrating a 50% or greater reduction in insulin requirement.

Creative Medical plans to further develop this program and present the findings at an upcoming endocrinology conference.

"Creative Medical Technology Holdings has a unique portfolio with multiple cell-based approaches that can potentially help patients with early-stage Type 1 Diabetes - CELZ-201, Brittle Type 1 Diabetes - CELZ-101, and late-stage Type 2 Diabetes - CELZ-001," said Timothy Warbington, President and CEO.

Creative Medical Technology is a biotechnology company focused on a regenerative approach to immunotherapy, urology, gynecology, and orthopedics.

CELZ Price Action: Creative Medical Technology has a 52-week high of 3.53 and a 52-week low of $0.34.

Creative Medical Technology shares are up 174.8% at $1.33 at the time of writing, according to Benzinga Pro.