Amarantus Bioscience Holdings Inc (OTCMKTS:AMBS) was a massive mover during Thursday’s trading session, surging by 32% on heavy volumes, which were 2.5 times the daily average. The stock has been trending higher ever since it hit an intra-day low of $0.21 and has witnessed massive buying over the last couple of trading sessions. Amarantus currently trends below all moving averages, which is bearish. The indicator measuring relative strength continues to trend higher indicative of the strong buying interest. The oscillator for momentum clearly shows strong bullish momentum. Traders see the stock heading to levels of $0.75 in the coming trading sessions.
AMARANTUS BIOSCIENCE HOLDINGS, INC. (OTCBB:AMBS) announced a few managerial and strategic changes to revamp its fortunes. As per the reports, the biggest change among them is the appointment of Curtis Scribner to its senior management team. Scribner will lead the regulatory affairs department as its senior vice president.
Insights of The Matter
Dr. Scribner is one of the most respected industry veterans with over two decades of global experience in regulatory development. His primary role at Amarantus will be to accelerate the regulatory pathway for Engineered Skin Substitute in the treatment of Congenital Giant Hairy Nevus and pediatric severe burns.
When asked about this decision by Amarantus to appoint him as the new SVP, Scribner said that he would be more than just happy to join a market leader like Amarantus. At a time when the company is preparing to bring back Engineered Skin Substitute into human clinical development for the treatment of severe burns, it would be great to lead the way for a good cause. According to him, there were many challenges that Amarantus had to face before reaching to this level, but its continuous hard work made everything look so simple and hassle-free.
The regulatory pathways for NTET (novel tissue-engineered treatments) have witnessed a decent hike over the past few months. At a time when regenerative medicine has come out as a field that can solve some of the most difficult problems in the medical world, Amarantus is continuously moving ahead with its world-class solutions. In Scribner’s opinion, ESS can effectively improve the results for those patients who need full thickness skin grafts.
He is confident that his previous work experience and 20-year long experience will help him get rid of many upcoming challenges and issues as Amarantus’ new SVP of regulatory affairs. Further details will follow soon.