Avalon Globocare Corp., (AVCO) is a leading cell-tech bio-developer having expertise in the areas of cell-based immunotherapy, regenerative medicines, and exosome technology (in the form of ACTEX™). The company is co-developing bio-production and standardization procedures for chimeric antigen receptor (CAR)-T Therapy in collaboration with Weill Cornell Medical College. In addition, AVCO is also undertaking research related to COVID-19 diagnostics and therapeutics.
During the regular trading hours of December 9, 2021, the stock price for AVCO was $0.89 (a decline of 4.30%). At the time of writing, AVCO is trading up 4.49% to $0.93.
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Events and Happenings
On Dec. 09, 2021, Avalon GloboCare Corp. announced collaboration with the Massachusetts Institute of Technology (MIT) as both combined their artificial intelligence (AI)-enhanced protein design “QTY Code” technology with Google’s AlphaFold2. The “QTY Code” breakthrough technology. It is a protein-design platform that can turn water-insoluble transmembrane receptor proteins into water-soluble proteins, enabling their use in many clinical applications. The function of this program is to soak up excess chemokines and cytokines produced in the body during a ‘cytokine storm.’ These cytokine storms can occur in patients with COVID-19 and in cancer patients being treated with CAR T-cell therapy.
Some of the key financials, as reported by the company on November 15, 2021, for the third quarter ended September 30, 2021, are as follows
Revenue and Current Assets
The revenue generated by the AVCO for Q3 2021 was $0.48 million against $0.32 million for the same quarter of 2020. Total current assets during the third quarter of 2021 were reported to be $1.2 million as opposed to the same quarter of 2020 when the assets were recorded to be $2.1 million.
Basic and diluted loss
As announced by AVCO for Q3 2021 the basic and diluted loss per share for Q3 2021 was $2.0 million or $0.02as opposed to $3.2 million or $0.04 per basic and diluted loss per share for the same quarter of 2020.
On October 14, 2021, AVCO reported it has successfully co-developed a novel platform of S-layer coated emulsome technology (SLET) for next-generation drug delivery and cellular immunotherapy. The company had successfully filed USPTO (US63/060,235) and international PCT (US21/38327) patent applications pertaining to the novel SLET platform.
Although the stock of AVCO is on a bumpy ride from time to time, the analysts are much hopeful for the company in terms of its “QTY Code” Technology and SLET which will attract more investors for the company.