Anyone see the KOOL news today.
Didn't seem all that positive to me but is moving their PPS in a positive way.
Of note was the special NASDAQ exemption they received.
Anyway, they changed their name some time ago but kept the same KOOL ticker. Some may remember the YMB KOOL investors post on the CYTX board as we spared who would be the better stem company. KOOL has already been through at least one R/S.
KOOL and CYTX are "in the same boat" now, as they are both loo, low priced stem cells stocks.
Last night's earning report for KOOL is interesting. BOYaLIFE (a Wuxi, China based company) now owns most of the company, with a market cap of just $ 9 million. KOOL seems to be comfortable remaining as a penny stock, with strong delisting possibility in the horizon. They gets a total of $ 15 million from BOYaLIFE, a government supported stem cells conglomerate (30 small stem cells related companies). This money is not really enough to take their phase 3 trial in CLI to NDA, while their platform technology is inferior to CYTX. ASTM had tried to do phase 3 in CLI and they abandoned the attempt, because of the lack of money and very poor patient accrual.
Strange case for the Chinese to "invest" in KOOL. But, why? Maybe they want to pick up a small US biotech for little money and take it private, while blending KOOL's platform technology with other Chinese tools and reagents for marketing in China and elsewhere. KOOL has a good franchise in India. KOOL's technology may be less sophisticated than our celution and the Chinese/Indian markets or other less developed countries can be more comfortable with it.
BOYaLIFE may also repackaging KOOL, before relisting the new company. (Someone can also do the same with CYTX.)
CYTX, Lorem must be on BOYaLIFE's radar screen. It seems that Lorem has not been able to make in road with this kind of organisations in China. Obviously, BOYaLIFE is not the only stem cells conglomerates in China.