This Biotech Stole The Show Following Securities Purchase Agreement Announcement

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Tuesday, December 24, 2024

A biotech company out of Pennsylvania stole the mid-week spotlight after the company announced it has entered into a securities purchase agreement with new and existing investors. 

Traders were quick to buy up shares of Carmell Corporation (Nasdaq:CTCX) following the news, pushing the micro cap to close the session at $0.2847/share (+26.20%). This move could indicate a broader breakout from the multi-month downtrend the stock has been stuck in.

Carmell Corporation (CTCX) is a bio-aesthetics company that utilizes the Carmell SecretomeTM to support skin and hair health. The Carmell SecretomeTM consists of a potent cocktail of growth factors and proteins extracted from allogeneic human platelets sourced from U.S. Food and Drug Administration-approved tissue banks. Over the past seven years, Carmell has extensively tested the technology underpinning the Carmell SecretomeTM. In addition, Carmell has developed a novel microemulsion formulation that enables the delivery of lipophilic and hydrophilic ingredients without relying on the Foul FourteenTM, which are 14 potentially harmful excipients that are commonly used by other companies to impart texture, stability, and other desirable physicochemical attributes to cosmetic products. Additionally, Carmell's microemulsion formulations do not utilize mineral or vegetable oils across its entire product line and are designed to be non-comedogenic.

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