Cellect Biotechnology Ltd. shares rocketed nearly 40% in extremely heavy trade on Thursday.
It’s a breakthrough! Or, at least, that’s the word Cellect APOP, +1.63% used to describe an update from an ongoing clinical trial for cancer patients.
“These interim results further support that we are closer than ever to a world where stem cells are used to replace sick organs and damaged tissues,” Cellect CEO Dr. Shai Yarkoni said.
The key word there is “interim”: Cellect is specifically touting positive results for three patients in a trial that could enroll up to 12 patients total.
The phase 1/2 trial is testing the company’s ApoGraft technology, used to pick out stem cells from other cells in an effort to prevent complications after stem cell transplants.
Read our previous coverage: Cellect Biotech stock rises 71% after announcing successful stem cell transplant procedure
A month after receiving the stem cell transplant, that first group of patients had completely accepted the transplant with no major safety issues, Cellect said.
These are promising results, given the notoriously difficult complications that accompany stem cell transplants.
Cellect’s latest clinical trial is aimed at preventing one such complication, graft versus host disease, in which transplanted stem cells attack the patient’s body, along with other immune responses.
There are more results to come, though.
Cellect plans to recruit three more patients for the second group after an independent data and safety monitoring board reviews the latest results.
This also isn’t the first time the company’s stock has swung massively on early trial updates.
In late March, Cellect shares rose 74% after the company announced that the phase 1/2 trial’s first transplant procedure had been completed.