IMAC Stock Price Increases 23.97%: Why It Happened – Pulse 2.0

The stock price of IMAC Holdings Inc (NASDAQ: IMAC) a company that provides orthopedic therapies through a chain of innovative medical advancements and care regeneration centers in the US has increased by 23.53% as it went from a previous close of $1.19 to $1.47. One of the biggest triggers for why the stock price increased is due to an announcement by the company that it completed a first infusion of stem cells in clinical study for the treatment of bradykinesia due to Parkinsons disease.

IMAC Holdings announced it completed the first infusion of its investigational compound utilizing umbilical cord-derived allogenic mesenchymal stem cells in its Phase 1 clinical trial for the treatment of bradykinesia or the gradual slowing and loss of spontaneous body movement due to Parkinsons disease.

The first infusion was delivered on December 29, 2020, by trial lead investigator Ricardo Knight, M.D., M.B.A. at the companys Brentwood, Tennessee facility. And the Phase 1 clinical trial, consisting of a 15-patient dose escalation safety and tolerability study will be conducted at three of IMACs clinical centers in Chesterfield, Missouri, Paducah, Kentucky, and Brentwood, Tennessee.

This trial will be divided into three groups: (1) five patients with bradykinesia due to Parkinsons disease will receive a low dose, intravenous infusion of stem cells, (2) five patients will receive a medium intravenous dose, and (3) five patients will receive a high intravenous dose. And all groups will be tracked for 12 months.

IMACs medical doctors and physical therapists at the clinical sites were trained to administer the treatment and manage the therapy.

KEY QUOTE:

The first infusion of our proprietary compound is a significant milestone in its development, as well as in the development of IMAC, expanding our capabilities as a regenerative rehabilitation company. We have already received significant interest from patients across our regenerative medicine centers to participate in the trial, and we are actively screening these inquiries to identify those who fit the inclusion criteria of the trial. We anticipate full patient enrollment by the end of February 2021, with subsequent infusions continuing in early 2021.

Jeffrey Ervin, Chief Executive Officer of IMAC

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IMAC Stock Price Increases 23.97%: Why It Happened - Pulse 2.0