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Cellect Biotechnology Ltd. (APOP) has announced key dates regarding the contingent value rights (CVRs) connected to its merger with Quoin Pharmaceuticals and the sale of its subsidiary to EnCellX. The merger and share transfer are expected to close on October 28, 2021. Record and distribution dates for CVRs are set for October 27 and November 5, 2021, respectively. Post-merger, the company will be renamed Quoin Pharmaceuticals, Ltd., trading under the symbol QNRX. It is advised that CVR holders consult tax advisors regarding potential tax implications.
Cellect Biotechnology Ltd. (APOP) announced that shareholders approved a strategic merger with Quoin Pharmaceuticals and the sale of its subsidiary to EnCellX. The merger received approximately 99% shareholder approval at a Special General Meeting on September 26, 2021, and is expected to close in October 2021, with a new trading symbol 'QNRX' post-merger. Concurrently, the sale of intellectual property to EnCellX will support ongoing clinical trials for ApoGraft. However, Cellect also received a non-compliance notice from Nasdaq regarding minimum stockholders’ equity requirements.
Cellect Biotechnology Ltd. (NASDAQ: APOP) has reported a significant milestone with the first ApoGraftTM transplantation in a leukemia patient as part of its clinical trial at Washington University.
The trial aims to enroll 18 patients undergoing haploidentical Bone Marrow Transplantation. The development will now be advanced by EnCellX, following a strategic merger with Quoin Pharmaceuticals, which aims to enhance funding and expedite clinical progress.
Positive topline data has been previously released, boosting investor confidence.
Cellect Biotechnology Ltd. (NASDAQ: APOP) is on track to finalize its strategic merger with Quoin Pharmaceuticals by Q3 2021. The SEC has approved its Form F-4, allowing the merger to advance. A Special General Meeting for shareholder voting is scheduled for September 19, 2021. In Q2 2021, the company reported positive Phase 1/2 trial results for its ApoGraft™ technology, indicating no adverse events. Financially, R&D expenses remained steady at $0.42 million, while G&A expenses increased to $0.86 million due to merger-related costs. The comprehensive loss narrowed to $1.7 million, down from $2.7 million in the previous year.
Cellect Biotechnology Ltd. (NASDAQ: APOP) announced that its registration statement filed on Form F-4 was declared effective by the SEC on August 12, 2021, in connection with its strategic merger with Quoin Pharmaceuticals, Inc., focused on rare diseases. A Special General Meeting of Shareholders is scheduled for September 19, 2021, with transaction closure expected by September 30, 2021. The merger aims to enhance the company's capabilities in cell-based therapies, particularly its lead product in FDA-approved clinical trials for cancer treatment.
Cellect Biotechnology Ltd. (APOP) announced a proposed strategic merger with Quoin Pharmaceuticals, a company focused on rare diseases. The merger is expected to close in Q3 2021, bolstered by $25.5 million in secured investments. This merger aims to enhance Cellect’s value through Quoin’s clinical programs and the potential Contingent Value Right (CVR) payments to shareholders. Stockholders are encouraged to review the forthcoming Proxy Statement for further details on this significant transaction.
Cellect Biotechnology (NASDAQ: APOP) announced positive results from its Phase 1/2 clinical trial of ApoGraft technology, conducted on 11 patients with hemato-oncology disorders. All patients successfully underwent transplantation, meeting the primary objective of safety and tolerability, with no adverse events reported. Following a merger with Quoin Pharmaceuticals, the development of ApoGraft will continue under EnCellX in San Diego. CEO Dr. Shai Yarkoni highlighted the data's validation of previous results and its potential to expedite further clinical development.
Cellect Biotechnology Ltd. (NASDAQ: APOP) announced its financial results for Q4 and full-year 2020, reporting a comprehensive loss of $5.62 million. Significant developments include a merger agreement with Quoin Pharmaceuticals, which secures $25 million in funding, and plans to close a Phase 1/2 clinical trial in Israel due to recruitment challenges. The company intends to focus on its U.S. Phase I clinical trial. R&D and G&A expenses decreased, reflecting reduced operational activities. The merger aims to enhance shareholder value through potential technology advancements and contingent value rights.
The merger between Cellect Biotechnology (APOP) and Quoin Pharmaceuticals is set to create a combined entity valued at $75 million pre-money, with Cellect's shareholders retaining 25% of the stock pre-funding. Quoin has secured $25 million in equity funding and an additional $18.5 million venture loan. The deal includes the sale of Cellect's subsidiary to EnCellX, with pre-closing shareholders receiving contingent value rights. The merger aims to enhance growth and development in the rare disease market, with plans to complete by Q2 2021 and rename Cellect to Quoin Pharmaceuticals.
Cellect Biotechnology Ltd. (NASDAQ: APOP) reported Q3 2020 results, including a net loss of $0.47 million, down from $1.40 million in Q3 2019. The company initiated a U.S. clinical trial at Washington University and entered a collaboration with XNK Therapeutics to utilize its stem cell selection technology in Natural Killer cell therapies. Despite challenges from COVID-19, Cellect decreased its R&D expenses to $0.37 million and G&A expenses to $0.36 million. As of September 30, 2020, cash and equivalents totaled $6.07 million, providing 15 months of operational funding.
