In a market that has seen its fair share of volatility, Orgenesis Inc . (NASDAQ:ORGS) has managed to reach a 52-week high, with its stock price climbing to $3.84. This peak comes as a notable point of interest for investors who have witnessed the stock undergo significant fluctuations over the past year. Despite this high, Orgenesis Inc. has experienced a 1-year change with a decrease of -33.67%, indicating a challenging period for the biotechnology company. The 52-week high serves as a beacon of its potential resilience and ability to achieve notable price levels even in the face of broader market headwinds.
In other recent news, Orgenesis Inc. has made significant strides in its operations and financial position. The biotech company announced a 1-for-10 reverse stock split to meet Nasdaq's minimum bid price requirement for continued listing. The company also reported promising results from a study of its CD19 CAR-T therapy, ORG-101, for Acute Lymphoblastic Leukemia treatment.
On the financial front, Orgenesis secured an additional $750,000 from investor Jacob Safier, raising the total loan amount to $1 million. The company has also established a joint venture with Harley Street Healthcare Group (HSHG) to develop and commercialize wellness and longevity therapies worldwide, with HSHG committing to invest up to $10 million over the next three years.
Furthermore, Orgenesis expanded its equity incentive plan by 9 million shares and elected five new directors to its board. A collaboration with Germfree was also announced, aiming to make cell and gene therapy treatments more affordable and accessible. These recent developments reflect Orgenesis' efforts to secure necessary capital for its operations and foster innovation.
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