Why Are Creative Medical (CELZ) Shares Gaining Today? - Creative Medical Tech (NASDAQ:CELZ)

Creative Medical Technology Holdings Inc CELZ has received Institutional Review Board approval to proceed with its Clinical Trial for Type 1 Diabetes with its CELZ-201 cell therapy.
The FDA had previously cleared the Company's Investigational New Drug application within 30 days from submission.
The company believes that CELZ-201 leverages a unique approach to harnessing the power of Perinatal Tissue-Derived Cells (PRDC) to multi-potentialities, including self-renewal ability, low antigenicity, reduced toxicity, and large-scale clinical expansion.
The study's primary objective is to evaluate CELZ-201 as a treatment for patients with newly diagnosed Type 1 Diabetes.
The company-sponsored trial will be conducted at the University of Miami Health System in conjunction with the Diabetes Research Institute.
"The purpose of IRB review and approval is to assure that appropriate steps are taken to protect the rights and welfare of patients participating as subjects in the research and is an important milestone in proceeding with a clinical trial. We are pleased with achieving IRB approval expeditiously and look forward to moving forward with our Phase 1/2 clinical trial," said Timothy Warbington, CEO.
Price Action: CELZ shares are up 130.10% at $1.19 on the last check Wednesday.

Why Are Creative Medical Shares Soaring Today?