THE POOR BROTHERS HAD NO IDEA WHAT STEMS DID OR CAN DO ! What Fools !Who were they trying to KID.- When David Portnoy went from activist investor to chairman and co-chief executive officer of Cryo-Cell International Inc. , it was like going from the outside to the inside of a fishbowl.
It's very different when you are on the inside looking out than when you are on the outside looking in, he said.
Since winning a proxy fight for control on Aug. 31, Portnoy and his brother, Mark, co-CEO, have revamped the way Cryo-Cell (OTCQB: CCEL), a stem cell preservation company in Oldsmar, connects with customers and business partners, strengthening B2B relationships, as detailed in Friday's story in the Tampa Bay Business Journal.
Their own thinking also has undergone a transformation over the past six months.
"At first, we were just investors," said Mark Portnoy, recalling how he and his brother had watched the stock market from a very early age. But now that they are running Cryo-Cell and have become immersed in the science and medical potential of stem cells, "it feels good to do good," he said.
They've learned that stem cell transplants are known and accepted treatments for more than 80 diseases. They've come to appreciate the value of an initiative Cryo-Cell launched in 2007, to preserve menstrual stem cells which are being studied as potential treatments for diabetes, breast cancer, heart disease, stroke and autoimmune diseases. David Portnoy now sees Cryo-Cell as a company at the forefront of regenerative medicine.
They've still got some convincing to do for other investors. Cryo-Cell's stock price closed at $2.90 a share on Aug. 31, the day the results of the proxy fight were announced, and has since dropped to as low as $1.57 a share. The stock closed Thursday at $2.24.
Margie Manning is Quality and Content Editor of the Tampa Bay Business Journal. She also covers banking, finance and professional services.
News 
Market Data 
Discover 
AI
