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Avalon GloboCare Announces NASDAQ Ticker Symbol Change from “AVCO” to “ALBT”
Company to Begin Trading under New Symbol “ALBT” on November 10, 2022 Symbol Change Better Reflects Avalon’s New Focus on Laboratory Services and
About this update from Avalon Globocare Corp.
[{"type":"text","content":"Company to Begin Trading under New Symbol “ALBT” on November 10, 2022 Symbol Change Better Reflects Avalon’s New Focus on Laboratory Services and Biotherapeutics FREEHOLD, N.J., Nov. 09, 2022 (GLOBE NEWSWIRE) -- Avalon GloboCare Corp. (“Avalon” or the “Company”) (NASDAQ: AVCO), a leading global developer of innovative cell-based technologies and therapeutics, today announced that its ticker symbol will change on the NASDAQ Stock Exchange from “AVCO” to “ALBT” at the open of market trading on Thursday, November 10, 2022. David Jin, M.D., Ph.D., President and Chief Executive Officer of Avalon, commented, “Yesterday we announced a transformative acquisition of Laboratory Services MSO, LLC, a premier reference laboratory. Not only is Laboratory Services MSO expected to be highly accretive to earnings it also adds strong clinical synergies to the existing Avalon portfolio. This acquisition provides Avalon with an established roadmap and framework in the context of integrating our cellular therapy programs with laboratory medicine. Now we have dual engines driving growth across CAR-T, biotherapeutics and laboratory services which we believe will enable us to perform large scale lab testing related to immune system functionality, monitoring toxicity related to cellular therapy, as well as immune wellness maintenance. We believe changing our ticker symbol to “ALBT” will better reflect Avalon’s operational focus on laboratory services and biotherapeutics. Together with Laboratory Services MSO, we believe we have multiple upcoming inflection points, which we expect will create significant value for our shareholders in the years ahead.” No action by the company's shareholders is required with respect to the symbol change. The company's common stock will continue to be listed on NASDAQ and its CUSIP number will remain unchanged. About Avalon GloboCare Corp. Avalon GloboCare Corp. (NASDAQ: AVCO) is a clinical-stage, vertically integrated, leading CellTech bio-developer dedicated to advancing and empowering innovative, transformative immune effector cell therapy, exosome technology, as well as cell therapy related companion diagnostics. Avalon also provides strategic advisory and outsourcing services to facilitate and enhance its clients’ growth and development, as well as competitiveness in healthcare and CellTech industry markets. Through i...