Celularity Inc. (Nasdaq: CELU) experienced a notable setback, witnessing a 6.71% decline in its stock price, culminating in a closing figure of $0.2112 during the previous trading session.
Of equal significance, the trading volume of Celularity stock on the day significantly undershot the established average, recording a mere 0.26 million shares traded, in contrast to the customary daily average of 0.56 million shares.
This decline in CELU stock value can be directly attributed to an internal transaction wherein a prominent stakeholder divested approximately 55% of their holdings in the company.
Sorrento Therapeutics, Inc. holds a substantial 10% stake in Celularity (CELU).
The most recent insider transaction involving Sorrento took place on October 5, 2023, during which Sorrento proceeded to sell a substantial 6,307,158 shares of CELU’s Class A Common Stock, leading to a reduction of their ownership stake by more than 55%. Consequently, Sorrento’s current holdings in CELU amount to 5.05 million shares.
Celularity is a prominent biotechnology enterprise specializing in the advancement of allogeneic cell therapies and cutting-edge biomaterial products.
Notably, CELU has recently embarked on a protracted Research Collaboration Services Agreement with the esteemed Regeneron Pharmaceuticals. This strategic partnership is aimed at bolstering Regeneron’s research endeavors in the realm of allogeneic cell therapy.
The initial emphasis of this agreement is centered on the exploration of a specialized allogeneic gamma delta chimeric antigen receptor (CAR) T-cell therapy, an intellectual property of Regeneron. This therapeutic approach is meticulously engineered to augment proliferation and potency in combating solid tumors.
The research will be conducted at CELU’s state-of-the-art facility, which is conveniently situated in Florham Park, New Jersey. However, financial particulars of this collaboration remain undisclosed.
This collaborative alliance with Regeneron signifies a significant milestone for Celularity, underscoring its prowess in the domain of cellular therapies, particularly in the domain of CAR-T cell engineering.
It paves the way for potential future collaborations within the industry, capitalizing on CELU’s exceptional cell therapy infrastructure and capabilities.
CELU management has long held a deep respect for the outstanding scientific heritage of Regeneron which resulted in them eagerly welcome the opportunity to cooperate with a global leader in groundbreaking pharmaceutical innovation.
