Creative Medical Technology Holdings Stock Rises After Positive Top-Line Results for StemSpine® Pilot Study
Mar 23, 2022 By MarketDepth
Creative Medical Technology Holdings, Inc. (NASDAQ: CELZ) stock spiked about 110% on Wednesday morning after the Company announced positive two-year follow up data for the StemSpine® pilot study, showing significant efficacy of the StemSpine® procedure for treating chronic lower back pain without any serious adverse effects reported.
Stem Cell Technology
Creative Medical Technology Holdings, Inc. is a commercial stage biotechnology company specializing in stem cell technology in the fields of immunotherapy, urology, neurology, and orthopedics. StemSpine® is a patented procedure that utilizes a patient’s own bone marrow aspirate for the treatment of chronic lower back pain.
“The positive two-year data from our StemSpine® pilot study are very encouraging, and we are excited to engage with practitioners on commercialization. To our knowledge, this pilot is the first demonstration of the clinical efficacy of injecting bone marrow aspirate in areas surrounding the disc, thereby repairing, remodeling and improving the blood supply around the disc and lower back area. We believe StemSpine® represents an attractive non-surgical option for many of the millions of Americans who suffer from non-surgical chronic lower back pain.”Timothy Warbington, President and CEO of the Company
There were no safety related concerns at up to two years and the StemSpine® procedure resulted in an efficacy rate of 87% in the treated patients. The Company plans to submit a manuscript for publication in a peer reviewed journal and present the data at future orthopedic/sports medicine conferences.
“Given our timely receipt of this significant and favorable data, I look forward to accelerating our StemSpine® program by introduction to the physician community at the American Academy of Orthopaedic Surgeons annual conference taking place in Chicago this week, March 22-26. Building out strong advisory boards with notable KOLs has been a pillar of my career and I am excited to leverage my experience to accelerate our efforts to translate the StemSpine® procedure.”Sahil Nock, Chief Commercialization Officer of the Company