Frost & Sullivan Publishes Q3-2018 Update On Cellect Biotechnology Ltd.

Frost & Sullivan Publishes Q3-2018 Update On Cellect Biotechnology Ltd.

PR Newswire

TEL AVIV, Israel, Dec. 13, 2018

TEL AVIV, Israel, Dec. 13, 2018 /PRNewswire/ -- 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 ApoTainer™ 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.

Summary of Highlights

Below are the highlights of Cellect's Q3 report released on Nov.13, 2018:

ApoGraft POC final results by mid-2019; Cellect continues to strengthen its IP portfolio for stem cell therapy related technologies and build a line of partnerships. The company announced the following:

Sufficient cash to support current early phase and pre-clinical pipeline developments until Q2-2019.

Cash and cash equivalents and marketable securities totaled $6.45 million as of September 30, 2018, compared to $8.26 million on June 30, 2018. The change is primarily due to net proceeds of $3.5 million from a registered direct offering completed in January 2018 being offset by cash used in operations during the period.

We maintain our estimation of the company's equity value at $101.4M; corresponding to a target price ranging between $15.40 and $18.70; a mean of $16.90.

For full details on Cellect and the breakdown of our valuation methodology see our Initiation of Coverage, dated 27 April 2017.

Read the full report here.

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Corporate Communications - Frost & Sullivan, Europe
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