Cesca Therapeutics KOOL shares spiked higher after the company's subsidiary, ThermoGenesis, received Health Canada approval for its AXP II System for cord blood processing.
"Health Canada's approval of the AXP II -- following its approval of the PXP System earlier this year -- marks the achievement of yet another key milestone and should allow us to meaningfully expand our footprint with a best-in-class system that, today, continues to hold a market-leading position,’ said Haihong Zhu, President of ThermoGenesis.
“We look forward to building on our customer base by offering Cord Blood Banks throughout Canada with the ability to undertake cord blood processing with a system that generates mononuclear cell recoveries of >90% and CD34+ stem and progenitor cell recoveries of > 95%," said Zhu.
Cesca Therapeutics shares were trading higher by 8.6% to $3.08 Tuesday morning. The stock opened the session at $3.82 per share.
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