Cryo-Cell International Announces Uplisting to The Nasdaq Capital Market
Cryo-Cell International, Inc. (CCEL) has announced its common stock is listed on the Nasdaq Capital Market as of August 31, 2021. This milestone marks an achievement in meeting Nasdaq's stringent requirements and aims to enhance liquidity and broaden the shareholder base. Chairman David Portnoy expressed optimism that this uplisting will reduce the valuation gap between market and intrinsic value. Cryo-Cell is transitioning into a biopharmaceutical company, providing experimental treatments at the upcoming Cryo-Cell Institute for Cellular Therapies.
- Uplisting to Nasdaq expected to improve liquidity and broaden shareholder base.
- Transitioning into a fully integrated biopharmaceutical company.
- Established reputation with over 500,000 clients and FDA-compliant facilities.
- Risks associated with transitioning into biopharmaceuticals and reliance on collaborative research.
- Potential impacts from COVID-19 on sales and operational disruptions.
Cryo-Cell International, Inc. (Symbol CCEL), The Leader In Cord Blood And Cord Tissue Cryopreservation Services, Today Announced That The Company’s Common Stock Has Been Approved For Listing On The Nasdaq Capital Market (“Nasdaq”).
Trading to Begin August 31, 2021 with Current Ticker “CCEL”
MIAMI, Aug. 30, 2021 (GLOBE NEWSWIRE) -- Cryo-Cell International has met Nasdaq’s stringent financial, liquidity and corporate governance listing requirements. As a result, Cryo-Cell will be listed on Nasdaq as of Tuesday, August 31st 2021. This is expected to improve the liquidity of Cryo-Cell common stock, broaden its institutional shareholder base and ultimately enhance long-term shareholder value.
Cryo-Cell’s Chairman of the Board and Co-Chief Executive Officer, David Portnoy, stated: “I am pleased to announce Cryo-Cell’s uplisting to Nasdaq, a major financial milestone that the Company had been considering, as previously stated several months ago. I believe that the significant gap between Cryo-Cell’s current market valuation and our intrinsic value should narrow as our visibility in the investment community grows, and this is a step in that direction.” Cryo-Cell International has transformed in 2021 from being a profitable cord blood bank to a fully integrated, biopharmaceutical company that is expected to provide much needed access to experimental treatments for patients at the upcoming Cryo-Cell Institute for Cellular Therapies.
About Cryo-Cell International, Inc.
Founded in 1989, Cryo-Cell International, Inc. is the world’s first private cord blood bank. More than 500,000 parents from 87 countries have entrusted Cryo-Cell International with their baby’s cord blood and cord tissue stem cells. In addition to its private bank, Cryo-Cell International has a public banking program in partnership with Duke University. Cryo-Cell’s public bank has provided cord blood for more than 600 transplantations and operates cord blood donation sites across the U.S in prominent hospitals such as Cedars–Sinai Hospital in Los Angeles and Baptist Hospital in Miami. Cryo-Cell’s facility is FDA registered, cGMP-/cGTP-compliant and licensed in all states requiring licensure. Besides being AABB accredited as a cord blood facility, Cryo-Cell was also the first U.S. (for private use only) cord blood bank to receive FACT accreditation for adhering to the most stringent cord blood quality standards set by any internationally recognized, independent accrediting organization. Cryo-Cell owns the exclusive rights to PrepaCyte-CB, the industry’s most advanced cord blood processing technology.
Cryo-Cell’s mission has been to provide clients with state-of-the-art cord blood and cord tissue cryopreservation services, raise awareness of the opportunity for expectant parents to bank or donate their baby’s cord blood and support the advancement of regenerative medicine. In February 2021, Cryo-Cell entered into a license agreement with Duke University that transformed Cryo-Cell into an autonomous, vertically integrated cellular therapy company that will be able to treat patients.
For more information, please visit IR.cryo-cell.com
Forward-Looking Statement
Statements herein the terms “believes”, “intends”, “projects”, “anticipates”, “expects”, and similar expressions as used are intended to reflect “forward-looking statements” of the Company. The information contained herein is subject to various risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in such forward-looking statements or paragraphs, many of which are outside the control of the Company. These uncertainties and other factors include the impact of the COVID-19 pandemic on our sales, operations and supply chain, the success of the Company’s global expansion initiatives and product diversification, the Company’s actual future ownership stake in future therapies emerging from its collaborative research partnerships, the success related to its IP portfolio, the Company’s future competitive position in stem cell innovation, future success of its core business and the competitive impact of public cord blood banking on the Company’s business, the success of the Company’s initiative to expand its core business units to include biopharmaceutical manufacturing and operating clinics, the uncertainty of profitability from its biopharmaceutical manufacturing and operating clinics, the Company’s ability to minimize future costs to the Company related to R&D initiatives and collaborations and the success of such initiatives and collaborations, the success and enforceability of the Company’s umbilical cord blood and cord tissue license agreements, together with the associated intellectual property and their ability to provide the Company with royalty fees, and those risks and uncertainties contained in risk factors described in documents the Company files from time to time with the Securities and Exchange Commission, including the most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and any Current Reports on Form 8-K filed by the Company. The Company disclaims any obligations to subsequently revise any forward-looking statements to reflect events or circumstances after the date of such statements.
For more information, please contact:
Corporate Communications / Investor Relations
Diane Glanz, Rph, PharmD.
Telephone: +1 (813) 749-2195
Email: Investors@Cryo-Cell.com
FAQ
What is the significance of Cryo-Cell's uplisting to Nasdaq on August 31, 2021?
How does Cryo-Cell plan to benefit from its new Nasdaq listing?
What recent changes has Cryo-Cell made to its business model?
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