Cellect Biotechnology (NASDAQ: APOP)
On Thursday before the market opened shares of Cellect Biotechnology ($APOP) skyrocketed over 50% after they announced a successful stem cell trial.
The company had successfully made a transplant using their proprietary ApoGraft technology in a phase II trial with 3 patients. This is a huge step in this field of research and could be the first major breakthrough in stem cell transplantation.
Shares are up 72% at of the time of this writing with a current premarket bid of $12.25 after closing Wednesday at $7.12. Shares of $APOP will be very active today with increased volume and volatility.
Look for resistance to come in at $13.50 and then whole and half dollar numbers after that. Support will be met at $10.50, $10 and $9.50. Shares have been stuck between $10 and $6 for a long time now so this breakout will be definitely spark some interest with traders.
There will be plenty of opportunity on this name today so make sure to keep it on your radar!
Dr. Shai Yarkoni, Cellect’s CEO said, “Our ApoGraft™ technology shows consistently successful results in the use of stem cell transplants for treating patients suffering from life-threatening conditions. We see our position strengthened with each patient treated. We aim for stem cell based regenerative medicine to become a safe and affordable treatment for most of mankind’s diseases.”
Cellect Biotechnology Ltd. engages in the provision of regenerative medicine. Its activities include development of regenerative medicine through the development of products facilitating immune stem cell selection.
The company also develops innovative technology, which allows the default stem cells by dramatically reducing of complications existing in conventional selection methods. Cellect Biotechnology was founded by Kasbian Nuriel Chirich, Shai Yarkoni and Nadir Askenasy on August 4, 1986 and is headquartered in Kfar Saba, Israel. –MarketWatch