We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Name | Symbol | Market | Type |
---|---|---|---|
Cellect Biotechnology Ltd | NASDAQ:APOP | NASDAQ | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 13.17 | 13.00 | 13.90 | 0 | 01:00:00 |
On March 24, the Company announced a strategic merger agreement with privately held Quoin Pharmaceuticals, a U.S. based specialty pharmaceutical company focused on rare and orphan diseases. Under the terms of the merger agreement, Quoin has secured $25 million in committed funding from a highly regarded, institutional healthcare investor. Current Cellect shareholders will retain approximately 25% of the combined shares before investment. The merger is expected to close by the end of the second quarter of 2021. Cellect has also signed an agreement to sell its wholly-owned subsidiary company, Cellect Biotherapeutics, to EnCellX, Inc. - a newly founded biotechnology company based in San-Diego, CA. - to continue the development of Cellect’s products.
Recent Clinical Highlights
“Concurrent with our plans to seek strategic alternatives to maximize shareholder value, we also remained focus on advancing our clinical interests in the U.S.,” commented Dr. Shai Yarkoni, Chief Executive Officer. “We have signed a compelling business proposition with Quoin and a privately-held U.S. biotechnology company that allows our current shareholders to benefit from Quoin’s promising technology and the fruits of continued progress of our clinical programs as they reach critical inflections points through the issuance of contingent value rights to our shareholders in connection with the sale of Cellect Biotherapeutics.”
Fourth Quarter and Full Year 2020 Financial Results:
* For the convenience of the reader, the amounts above have been translated from NIS into U.S. dollars, at the representative rate of exchange on December 31, 2020 (U.S. $1 = NIS 3.215).
About Cellect Biotechnology Ltd.
Cellect Biotechnology (APOP) has developed a breakthrough technology for the selection of stem cells from any given tissue that aims to improve a variety of cell-based therapies.
The Company’s technology is expected to provide researchers, clinicians and pharmaceutical companies with the tools to rapidly isolate specific cells in quantity and quality, allowing cell-based treatments and procedures in a wide variety of applications in regenerative medicine. The Company’s current clinical trial is aimed at bone marrow transplantations in cancer treatment.
Forward Looking Statements
This press release contains forward-looking statements about the Company’s expectations, beliefs and intentions. Forward-looking statements can be identified by the use of forward-looking words such as “believe”, “expect”, “intend”, “plan”, “may”, “should”, “could”, “might”, “seek”, “target”, “will”, “project”, “forecast”, “continue” or “anticipate” or their negatives or variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical matters. These forward-looking statements and their implications are based on the current expectations of the management of the Company only and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. In addition, historical results or conclusions from scientific research and clinical studies do not guarantee that future results would suggest similar conclusions or that historical results referred to herein would be interpreted similarly in light of additional research or otherwise. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: the Company’s history of losses and needs for additional capital to fund its operations and its inability to obtain additional capital on acceptable terms, or at all; the Company’s ability to continue as a going concern; or maintain its current operations; uncertainties involving any strategic transaction the Company may decide to enter into as the result of its current efforts to explore new strategic alternatives; uncertainties of cash flows and inability to meet working capital needs; the Company’s ability to obtain regulatory approvals; the Company’s ability to obtain favorable pre-clinical and clinical trial results; the Company’s technology may not be validated and its methods may not be accepted by the scientific community; difficulties enrolling patients in the Company’s clinical trials; the ability to timely source adequate supply of FasL; risks resulting from unforeseen side effects; the Company’s ability to establish and maintain strategic partnerships and other corporate collaborations; the scope of protection the Company is able to establish and maintain for intellectual property rights and its ability to operate its business without infringing the intellectual property rights of others; competitive companies, technologies and the Company’s industry; unforeseen scientific difficulties may develop with the Company’s technology; and the Company’s ability to retain or attract key employees whose knowledge is essential to the development of its products. Any forward-looking statement in this press release speaks only as of the date of this press release. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws. More detailed information about the risks and uncertainties affecting the Company is contained under the heading “Risk Factors” in Cellect Biotechnology Ltd.’s Annual Report on Form 20-F for the fiscal year ended December 31, 2020 filed with the U.S. Securities and Exchange Commission, or SEC, which is available on the SEC’s website, www.sec.gov, and in the Company’s periodic filings with the SEC.
ContactCellect Biotechnology Ltd.Eyal Leibovitz, Chief Financial Officerwww.cellect.co+972-9-974-1444
Or
EVC Group LLCMichael Polyviou(732) 933-2754mpolyviou@evcgroup.com
Cellect Biotechnology LtdConsolidated Statement of Operation
Convenience | ||||||||||||||||||||
translation | ||||||||||||||||||||
Twelve months ended | Twelve months ended | Three months ended | ||||||||||||||||||
December 31, | December 31, | December 31, | ||||||||||||||||||
2020 | 2020 | 2019 | 2020 | 2019 | ||||||||||||||||
Unaudited | Audited | Audited | Unaudited | Unaudited | ||||||||||||||||
U.S. dollars | NIS | |||||||||||||||||||
(In thousands, except share and per share data) | ||||||||||||||||||||
Research and development expenses | 1,830 | 5,883 | 12,122 | 1,693 | 2,571 | |||||||||||||||
General and administrative expenses | 2,523 | 8,111 | 10,210 | 2,167 | 2,378 | |||||||||||||||
Operating loss | 4,353 | 13,994 | 22,332 | 3,860 | 4,949 | |||||||||||||||
Financial expenses (income) due to warrants exercisable into ADS | 846 | 2,721 | (7,022 | ) | 4 | 998 | ||||||||||||||
Other financial expenses (income), net | 424 | 1,362 | 1,498 | 1,224 | 129 | |||||||||||||||
Total comprehensive loss | 5,623 | 18,077 | 16,808 | 5,088 | 6,076 | |||||||||||||||
Loss per share: | ||||||||||||||||||||
Basic and diluted loss per share | 0.015 | 0.049 | 0.079 | 0.013 | 0.027 | |||||||||||||||
Weighted average number of shares outstanding used to compute basic and diluted loss per share | 368,078,786 | 368,078,786 | 212,642,505 | 390,949,079 | 224,087,799 |
Cellect Biotechnology LtdConsolidated Balance Sheet Data
Convenience | ||||||||||||
translation | ||||||||||||
December 31, | December 31, | December 31, | ||||||||||
2020 | 2020 | 2019 | ||||||||||
Unaudited | Audited | Audited | ||||||||||
U.S. dollars | NIS | |||||||||||
ASSETS | (In thousands, except share and per share data) | |||||||||||
CURRENT ASSETS: | ||||||||||||
Cash and cash equivalents | 5,277 | 16,964 | 18,106 | |||||||||
Other receivables | 88 | 284 | 469 | |||||||||
5,365 | 17,248 | 18,575 | ||||||||||
NON-CURRENT ASSETS: | ||||||||||||
Restricted cash | 100 | 322 | 328 | |||||||||
Right of use - Assets under operating lease | 219 | 705 | 1,035 | |||||||||
Other long-term assets | 22 | 72 | 94 | |||||||||
Property, plant and equipment, net | 384 | 1,232 | 1,288 | |||||||||
725 | 2,331 | 2,745 | ||||||||||
6,090 | 19,579 | 21,320 | ||||||||||
LIABILITIES ANDSHAREHOLDERS’ EQUITY | ||||||||||||
CURRENT LIABILITIES: | ||||||||||||
Trade payables | 121 | 389 | 158 | |||||||||
Leases liabilities | 115 | 369 | 396 | |||||||||
Other payables | 693 | 2,228 | 3,080 | |||||||||
929 | 2,986 | 3,634 | ||||||||||
NON-CURRENT LIABILITIES: | ||||||||||||
Warrants to ADS | 380 | 1,222 | 2,172 | |||||||||
Leases liabilities | 122 | 391 | 677 | |||||||||
502 | 1,613 | 2,849 | ||||||||||
EQUITY: | ||||||||||||
Ordinary shares of no par value: | ||||||||||||
Authorized: 500,000,000 shares at December 31, 2019 and December 31 2020; Issued and outstanding: 224,087,799*) and 390,949,079*) shares as of December 31, 2019 and December 31, 2020, respectively. | - | - | - | |||||||||
Additional Paid In Capital | 39,452 | 126,838 | 108,598 | |||||||||
Share-based payments | 5,135 | 16,508 | 16,528 | |||||||||
Treasury shares | (2,932 | ) | (9,425 | ) | (9,425 | ) | ||||||
Accumulated deficit | (36,996 | ) | (118,941 | ) | (100,864 | ) | ||||||
4,659 | 14,980 | 14,837 | ||||||||||
6,090 | 19,579 | 21,320 |
*) | Net of 2,641,693 treasury shares of the Company held by the Company. |
Cellect Biotechnology LtdConsolidated Cash Flow Data
Convenience | ||||||||||||||||||||
translation | ||||||||||||||||||||
Twelve months ended | Twelve months ended | Three months ended | ||||||||||||||||||
December 31, | December 31, | December 31, | ||||||||||||||||||
2020 | 2020 | 2019 | 2020 | 2019 | ||||||||||||||||
Unaudited | Audited | Audited | Unaudited | Unaudited | ||||||||||||||||
U.S. dollars | NIS | |||||||||||||||||||
(In thousands) | ||||||||||||||||||||
Cash flows from operating activities: | ||||||||||||||||||||
Total comprehensive loss | (5,623 | ) | (18,077 | ) | (16,808 | ) | (5,088 | ) | (6,076 | ) | ||||||||||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||||||||||||||
Exchange rate difference | (412 | ) | (1,326 | ) | 1,036 | (1,115 | ) | (50 | ) | |||||||||||
Loss (gain) from revaluation of financial assets presented at fair value through profit and loss | - | - | - | - | (8 | ) | ||||||||||||||
Depreciation of Right of use - Assets under operating lease | 115 | 369 | 433 | 97 | (24 | ) | ||||||||||||||
Depreciation | 109 | 350 | 373 | 94 | 88 | |||||||||||||||
Finance expenses | 27 | 88 | 128 | 40 | 128 | |||||||||||||||
Issuance expenses | - | - | 1,621 | - | 1,621 | |||||||||||||||
Changes in fair value of traded and non traded warrants to ADS | 847 | 2,722 | (8,643 | ) | 4 | 708 | ||||||||||||||
Share-based payment | 229 | 738 | 2,708 | 262 | 807 | |||||||||||||||
Decrease (increase) in other receivables | 65 | 207 | 385 | 417 | 239 | |||||||||||||||
Increase (decrease) in other payables | (193 | ) | (621 | ) | (1,663 | ) | 528 | 192 | ||||||||||||
Interest received | 20 | 64 | 93 | 8 | 168 | |||||||||||||||
Net cash used in operating activities | (4,816 | ) | (15,486 | ) | (20,337 | ) | (4,753 | ) | (2,207 | ) | ||||||||||
Cash flows from investing activities: | ||||||||||||||||||||
Restricted deposit, net | 2 | 6 | 9 | 7 | 9 | |||||||||||||||
Proceeds received from the sale of fixed assets | 11 | 35 | 6 | - | 6 | |||||||||||||||
(Purchase) Sales of marketable securities measured at fair value through profit and loss | - | - | - | - | - | |||||||||||||||
Purchase of property, plant and equipment | (103 | ) | (329 | ) | (123 | ) | (170 | ) | (3 | ) | ||||||||||
Net cash provided by investing activities | (90 | ) | (288 | ) | (108 | ) | (163 | ) | 12 | |||||||||||
Cash flows from financing activities: | ||||||||||||||||||||
Exercise of warrants and stock options into shares | 1,435 | 4,615 | - | - | - | |||||||||||||||
Repayment on account of lease liabilities | (137 | ) | (441 | ) | (522 | ) | (117 | ) | (101 | ) | ||||||||||
Issue of share capital and warrants, net of issue costs | 2,860 | 9,194 | 22,393 | - | (1,330 | ) | ||||||||||||||
Net cash provided (used) by financing activities | 4,158 | 13,368 | 21,871 | (117 | ) | (1,431 | ) | |||||||||||||
Exchange differences on balances of cash and cash equivalents | 393 | 1,264 | (1,129 | ) | 1,108 | (117 | ) | |||||||||||||
Increase (decrease) in cash and cash equivalents | (355 | ) | (1,142 | ) | 297 | (3,925 | ) | (3,743 | ) | |||||||||||
Balance of cash and cash equivalents at the beginning of the period | 5,632 | 18,106 | 17,809 | 20,889 | 21,849 | |||||||||||||||
Balance of cash and cash equivalents at the end of the period | 5,277 | 16,964 | 18,106 | 16,964 | 18,106 |
1 Year Cellect Biotechnology Chart |
1 Month Cellect Biotechnology Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions