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Summary of Highlights
- In our view, the company is on track to meet its strategic goals with sufficient cash to support current clinical early phase and other pre-clinical pipeline development.
- Cellect announced on 9 April, 2018 that it has successfully completed the proof of concept testing of its first in type new product prototype, ApoTainer™ using Cellect's FasL-coated magnetic beads for maximizing efficacy and scalability of stem cell based products' manufacturing. The ApoTainer™ is designed to replace highly complex and expensive procedures currently used by laboratories (e.g. Bone marrow transplantations)
- Positive results from a sample of 20 patients under trial at Tel Aviv's Ichilov Medical Center, in which the ApoGraft™ process has shown significantly beneficial effects on stem cells derived from fat tissue. There was 100% acceptance and zero related adverse events. Cellect has also announced the opening of the second clinical trial site at Hadassah Medical Center
- As of March 31 2018, Cellect had approximately $9.9 million in cash and cash equivalents and marketable securities. On January 31, 2018, Cellect sold to institutional investors an aggregate of 484,848 ADSs in a registered direct offering at $8.25 per ADS resulting in gross proceeds of approximately $4.0 million.
- Cellect has initiated a second program focusing on the selection of mesenchymal stem cells (MSCs) from fat cells, which poses great potential.
- Should the company see positive results in its ongoing trial (ApoGraft POC final results estimated in late 2018) the financial potential of their stock is projected to increase.
- We maintain our estimation of the company's equity value at $101.4M; corresponding to a price target ranging between $15.40 and $18.70; a mean of $16.90.
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About the company - Cellect Biotechnology Ltd. is developing a technological platform, the "ApoGraft", which functionally selects stem cells from a mixed population of cells based on their sensitivity to apoptosis. The first product under development is the ApoTainerTM selection kit. The company is currently conducting a proof-of-concept phase I/II trial with blood cancer patients in Israel, which is expected to be completed by the end of Q3-2018. Based on trial results and safety issues, the company plans to integrate its technology into a range of procedures that utilize stem cells, as well as into the manufacturing process of adult stem cell based products.
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SOURCE Frost & Sullivan