Shares of Creative Medical Technology Holdings Inc (OTCMKTS:CELZ) are falling in the early session on Friday.
As of 9:48, CELZ stock is trading lower by about 6% with more than 2.97 million shares have traded hands. After opening at $0.0320, the stock has been moving within a range of $0.0270-$0.0320.
Creative Medical Technology issued a press release before the market open on Friday and here are some key highlights:
· Receipt of detailed correspondence from the FDA regarding necessary modifications to IND #27375 for using ImmCelz® regenerative immunotherapy for the treatment of stroke.
· The Company’s ImmCelz® product utilizes a patient’s own blood cells that have been “reprogrammed” in the laboratory by culturing with established universal donor stem cells, followed by re-infusion into the patient.
· Efficacy in animal models has been demonstrated in heart failure, kidney failure, multiple sclerosis, liver failure and type 1 diabetes.
· Given that this is the first time such a product was brought to the FDA, the Company appreciates the detailed analysis provided by the Agency, and the constructive feedback.
“I am grateful for our scientific and clinical team which has assembled the ImmCelz® IND proposal for the FDA, which resulted in detailed comments and advice for moving forward. Our team is already working on it.” said Timothy Warbington, President and CEO.
CELZ has been trading lower for the last few weeks. It has seen a few minor rallies along the way. Potential pivot points to keep an eye on are .032 .035 and .042 above and .025 .021 and .014 below. If CELZ breaks below .022 look out below.