Stock Alert: Cellect Biotechnology Soars 175%; Receives Patent In China

(RTTNews) - Shares of Cellect Biotechnology Ltd. (APOP) surged about 175% on Thursday morning after the Israel-based stem cell-based therapy developer said it received new patent allowance in China.

The shares of the thinly-traded nano-cap company are currently trading at $3.93, up $2.50 or 174.83%, on the Nasdaq.

Cellect Biotechnology said it received an official communication from the China National Intellectual Property Administration regarding its intention to grant Chinese Patent Application No. 201380021092.5.

"China is just the latest jurisdiction to recognize our innovation as we have sought and received IP protections globally to help safeguard our inventions," commented CEO Shai Yarkoni, Chief Executive Officer.