Caladrius Biosciences, Inc. (NASDAQ: CLBS) stock was booming in the pre-market session this morning as it skyrocketed almost 163% to $4.4.
What they do…
Caladrius Biosciences, Inc. is a clinical-stage biopharmaceutical company committed to developing cellular therapies to reverse diseases. The first-of-its-kind cell therapy products are based on the delicately tuned self-repairing mechanisms in the human body.
At Christ Hospital Health Network in Cincinnati, Ohio, a clinical-stage biopharmaceutical company, Caladrius Biosciences, Inc. (Nasdaq: CLBS) has treated the first patient in its Phase 2b FREEDOM trial of CLBS16 as a therapy for coronary microvascular dysfunction.
The 105-patient double-blind clinical trial is planned to determine further the effectiveness and safety of autologous CD 34+ (CLBS16) intracoronary transmission in CMD subjects and no obstructive coronary artery disease.
“Our CLBS16 software is really promising because it is a possible advance in CMD therapy that involves millions of patients only in the United States, many of which are women. As a result, CMD is an emerging challenge in women’s health, as no drugs have currently been licensed for coronary microvascular dysfunction,” said David J. Mazzo, Founder, Ph.D.”The care of the first patient for our business and the service is a significant achievement in the Independence test and we plan to complete the registration by the end of the year 2021. Especially notably, doctors and patients are active even during the COVID-19 pandemic, showing the severity of the disease and underlining the lack of effective treatment available.”
The Phase 2b FREEDOM trial should be part of the next step in the development of CLBS16 as a potential cure for many sufferers of CMD, a condition that affects mostly women. Investors are viewing this news as a positive feedback loop to push the share price sky-high.