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Here’s the Reason of Gamida Cell Ltd. (GMDA) Stock Skyrocketing in Early Trades

Gamida Cell Ltd. (GMDA) is a pioneer biotherapeutics company in the manufacture and marketing of diverse immunotherapy pipeline cell therapy products for solid tumor and blood cancer patients. One of the lead products of the company is omidubicel, a life-saving alternate for bone marrow transplant patients. GDA-201 is used in NAM-enabled NK cell therapy.

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The price of GMDA stock during the regular trading on January 18, 2022, with a 2.2% decline was $2.22. At last check in the current market on January 19, 2022. The stock skyrocketed by 17.56% to $2.61.

GMDA: Events and Happenings

On January 19, 2022, GMDA reported about the initiation of procedure for the rolling Biologics License Application submission for omidubicel.

GMDA: CEO Comments

Speaking at the occasion, GMDA CEO Julian Adams said that the company’s omidubicel positive production comparability analysis and initiation of BLA submission application are the result of the hard work of company’s management and team. He further added that Omidubicel has the potential to be the pioneer advanced cell therapy approved by FDA for allogeneic bone marrow transplant.

On January 7, 2022, GMDA reported that the company’s management will present the data regarding latest advancements in omidubicel at the Transplantation & Cellular Therapy Meetings 2022 of ASTCT and CIBMTR Tandem Meetings being held from February 2-6, 2022. On December 11, 2021, GMDA reported that the company’s management presented the data on GDA-201 and omidubicel at the Virtual 63rd American Society of Hematology Annual Meeting in the form of posters held on December 11-14, 2021.

On November 16, 2021, GMDA reported that the company’s Executives presented at the Virtual investor conferences namely Evercore ISI 4th Annual HealthCONx Conference held on November 30, 33rd Annual Piper Sandler Healthcare Conference held on December 2 and JMP Securities Hematology and Oncology Summit held on December 6, 2021.

GMDA: Key Financials

On November 15, 2021, GMDA announced its financial results for the quarter ended September 30, 2021. Some of the key updates are as follows.

Net Loss per Share

Basic and diluted net loss for Q3 2021 was $19.6 million or $0.33 per share as compared to a net loss of $14.8 million or $0.30 per share for the same period in 2020.

Assets

Total current assets for third quarter 2021 were $123.6 million.

Conclusion

GMDA stock dipped more than 60% from the past six months period due to pandemic. The current boom in the stock price of the company is the consequence of its announcement regarding the submission of Licensing Application for one of its lead product candidates. The analysts are correlating this groundbreaking announcement by the company to the futuristic projects and investment in the company.

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