Avalon GloboCare Corp. (AVCO) shares gained 3.88% in after-hours on Monday, December 27, 2021, and closed the daily trading at $1.07. Even in the regular trading session of Monday, AVCO’s stock gained 12.48%. AVCO shares have fallen 13.45% over the last 12 months, and they have moved up 17.25% in the past week. Over the past three months, the stock has gained 9.57%, while over the past six months, it has lost 1.90%.
Let’s briefly discuss its recent news and developments
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AVCO chairman’s debt conversion
On December 22, 2021, Avalon GloboCare Corp. (AVCO)’s Chairman, Daniel Lu, converted $3.0 million of debt owed to him under the Line of Credit into 2.4 million shares of the Company’s common stock at $1.25 per share. The conversion price represents a 45% premium to yesterday’s closing price.
AVCO advanced its collaboration with MIT
On December 09, 2021, Avalon GloboCare Corp. (AVCO) announced further advancement of research and licensing agreement with the Massachusetts Institute of Technology (MIT). Avalon and MIT have combined their artificial intelligence (AI)-enhanced protein design “QTY Code” technology with Google’s AlphaFold2, a DeepMind AI program developed to predict 3-dimensional (3D) protein structures of previously difficult to work with drug targets. This new system is designed to accelerate and advance Avalon’s capabilities in developing novel targets for immuno-oncology and cellular medicine.
AVCO platform of S-layer coated emulsome technology
On October 14, 2021, Avalon GloboCare Corp. (AVCO) successfully co-developed a novel platform of S-layer coated emulsome technology (SLET) for next-generation drug delivery and cellular immunotherapy, together with Professor Uwe Sleytr and the University of Natural Resources and Life Sciences (BOKU) in Vienna, Austria.
With the new technology, difficult-to-study cell membrane proteins can be efficiently expressed in a cell-free system, allowing for their evaluation as potentially druggable targets. The new technology provides Avalon with an efficient tool to screen and optimize potential therapeutic targets.
The company also filed USPTO (US63/060,235) and international PCT (US21/38327) patent applications about the novel SLET platform.
Well, the Avalon chairman debt conversion could be the reason behind its top-notch performance on Monday and it can continue to surge in the coming trading sessions as well.