A leader in today’s top daily gainers, Creative Medical Technology (NASDAQ: CELZ) skyrocketed around 68% this morning after investors reacted well to the company announcing positive long-term data surrounding a leading chronic back pain treatment; StemSpine. CELZ stock reached gains of over 80% before consolidating slightly lower.
The company is known for working towards a regenerative approach to immunotherapy, urology, neurology, and orthopedics. A two-year study of StemSpine alludes to the significant efficacy of the treatment in reducing non-surgical chronic lower back pain.
The treatment works by utilizing the patient’s own bone marrow aspirate for effective treatment of chronic lower back pain; a ground-breaking treatment in a critical area of medical treatment that is somewhat neglected. The study recorded no safety-related concerns over the two years, with the StemSpine procedure resulting in an impressive 87% efficacy rate in the concerned patients without any adverse effects. The long-term data is being prepared for peer review and eventually future orthopedic/sports medicine conferences.
Offering an attractive non-surgical option for patients is an important step forward in the management of chronic pain. Timothy Warbington, President, and CEO of Creative Medical stated:
“The positive two-year data from our StemSpine® pilot study are very encouraging, and we are excited to engage with practitioners on commercialization…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.”
As with a lot of medical companies that announce new, potentially ground-breaking treatments; Creative Medical Technology is at risk of unnerving volatility moving forward. Today’s 68% price rise is unlikely to hold as momentum slows and profit-takers step it.
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Oliver is a financial writer and analyst specialising in the US stock market, with years of personal experience in understanding micro/macroeconomic structures, market trends and fundamental analysis.