For the second week in a row, an Arizona-based biotech company has seen its shares trade up aggressively during premarket activity. Last week, we mentioned the movement was likely due to the positive results it received back from a pilot study the company conducted. This morning, while no significant news is out, shares of Creative Medical Technology Holdings Inc. (NASDAQ:CELZ) are bid up before the opening bell.
Creative Medical is a biotechnology holding company focused on regenerative medicine. It is formed for the purpose of creating and licensing intellectual property in the area of amniotic fluid-derived stem cells for therapeutic applications. Its core activity is stem cell research and the development of applications for use to treat male and female sexual dysfunction, infertility, miscarriages, and related issues.
Traders appear to be extremely bullish on this micro cap this morning as shares are bid up at $4.16/share (+19.54% implied open for sellers) at the time of writing. This move would add to the tremendous success this stock has seen this month.
