Shares of biotech stock Creative Medical Technology (NASDAQ:CELZ) more than doubled in today’s trading session at the time of writing. This comes after announcing positive one-year follow-up data on CELZ-001, a treatment for Type 2 Diabetes.
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The study, which included 30 patients, showed an overall efficacy of 93%, with no serious adverse effects reported. Fifteen of the patients received CELZ-001, while the others received optimized medical therapy. CEO Timothy Warbington highlighted that the study demonstrates the potential of CELZ-001 and the Company’s unique portfolio of cell-based approaches to help patients with different stages of diabetes.
A look at the past five trading days highlights the impact that today’s news had on CELZ stock. Indeed, shares were mostly hovering around $0.50 until today’s announcement sent them above the $1 mark. As a result, investors are up almost 110% during this timeframe.
