Creative Medical Technology Holdings, Inc. (CELZ) stock soared 39.82% in the current-market trading session at the price of $3.09 despite no fundamental reason. CELZ is a commercial-stage biotechnology firm specializing in stem cell technology in the fields of urology, neurology, immunotherapy, and orthopedics.
CELZ to Implement Reverse Stock Split
On 9th November 2021, CELZ announced the implementation of a reverse split of its common stock for a planned listing of securities on the NASDAQ Capital Market. The reverse stock split became effective on Wednesday, 10th November 2021. The reverse stock split facilitates the company to fulfill the stock price conditions for the initial listing on NASDAQ Capital Market.
CELZ’s common stock will initiate trading on a split-adjusted basis using the ticker symbol CELZD. The D character will remain appended until the company gets listed on NASDAQ. The latest CUSIP number for CELZ’s common stock is 22529Y 309. The company had previously applied to list its common stock shares and warrants on NASDAQ.
Chief Executive Officer of CELZ, Timothy Warbington, remarked that getting listed on the Nasdaq Capital Market is a good step for them. They believe that NASDAQ listing will enhance their profile for the investors and eventually create high value for shareholders.
CELZ Published Positive Data About ImmCelz
Earlier on 12th October 2021, CELZ published positive data illustrating the potential of its next-generation ImmCelz immunotherapy drug. ImmCelz reprograms immune cells using the company’s ex vivo cell-free reprogramming platform. ImmCelz had proved effective in animal models of autoimmunity. Currently, it is subject to a pending IND application filed by the CELZ with U.S. FDA to treat stroke victims.
Timothy Warbington added that immunotherapy is a great revolution in medicine where immune system cells are being produced as pills. The ImmCelz represents a unique platform sought to suppress harmful immune responses.
Director of the Diabetes Research Institute, Dr. Camillo Ricordi, remarked that the reported data indicate the capability of ImmCelz to achieve exceptional results in a way that is amenable to the secure and scalable clinical translation.