In the after-hours trading on Tuesday, the stock of clinical-stage biopharmaceutical company Gamida Cell Ltd. (NASDAQ: GMDA) took a jump of 67.85% to end the session at $16.60. For the regular session on the day, GMDA was at a loss of -2.37% to end the regular trading at $9.89.
Year-to-date, the stock has averaged 17.88%; however, the performance of the stock over the past seven days stands at 4.21%. In the past month, the stock’s price level climbed by 9.52 percent and it has risen by 69.06 percent over the past three months. Over its 52-week period, its performance netted 111.32%, making it weaker than its six-month performance of 130.54%.
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Founded in 1998 in Israel, Gamida Cell focuses on finding cures for patients with blood cancers and serious blood diseases using advanced cell therapy. The company’s lead product Omidubicel, at the moment, is in Phase 3 trials in patients with high-risk hematologic malignancies, and in Phase 1/2 clinical trials in patients with serious aplastic anemia. Using its cell expansion platform, Gamida has been creating therapies that can potentially help healthcare providers improve how they deal with serious medical needs.
On Tuesday, Gamida revealed the findings of Phase 3 omidubicel clinical trial conducted in an oral session at the American Society of Transplantation and Cellular Therapy (ASTCT) and Centre for International Blood & Marrow Transplant Analysis (CIBMTR) Transplantation & Cellular Therapy Meetings or TCT Meetings.
Omidubicel is a hematopoietic stem cell with increased nicotinamide and differentiated immune cells, including T cells. As a possible life-saving allogeneic hematopoietic stem cell transplantation solution for patients with hematologic malignancies, it is an experimental cell therapy under development.
What’s Next With Omidubicel?
Positive clinical results of the Omidubicel study should enable the Jerusalem-based company to submit a Biologics License Application (BLA) on its lead product to the U.S. Food and Drug Administration (FDA) in the second half of 2021.