Company Update (NASDAQ:APOP): Here’s Why Cellect Biotechnology Ltd. – American Depositary Shares Jumped 132%
Cellect Biotechnology Ltd. – American Depositary Shares (NASDAQ:APOP) investors are overwhelmingly excited today after the company announced that it has received a formal notice of allowance around a key method of treatment patent (Application No. 13/811,374) from the United States Patent & Trademark Office. The allowed claims relate to the engineering of regulatory immune cells with enhanced apoptotic activity to be used for immunomodulation for treating or preventing immune related disorders.
The patent that Cellect expects to be granted based on the allowed claims will protect the company’s technology and method when used for treating multiple medical conditions with significant unmet needs, such as type I diabetes, inflammatory bowel disease, graft versus host disease, and transplant rejection.
Cellect shares reacted to the news, jumping nearly 132% to $7.70 in Thursday’s trading session.
“This is a key milestone for us and an important initial accomplishment for our business in the US. Cellect has seven families of patents and patent applications to protect its core assets for enabling stem cell regenerative medicine,” CEO Shai Yarkoni commented.
On the ratings front, H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on APOP, with a price target of $10, in a report issued on November 29. The current price target implies an upside of 23% from current levels. According to TipRanks.com, Selvaraju has a yearly average loss of 2.6%, a 39% success rate, and is ranked #3963 out of 4340 analysts.
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. It also develops innovative technology which allows the default stem cells by dramatically reducing of complications existing in conventional selection methods.