PMGC Holdings Inc. (NASDAQ:ELAB) stock is down on Thursday following a progress update regarding its AI Development Program. The stock’s decline comes as the company advances its timeline for Phase III of the program, which may affect its future performance.
Phase III AI Program Results Expected in Q2 2026
NorthStrive Biosciences, a subsidiary of PMGC Holdings, announced that the anticipated results from Phase III of its AI Development Program are now expected in the second quarter of 2026. This update follows the initiation of Phase III on December 17, 2025, which was initially projected to last approximately 6 to 9 weeks.
The company has indicated that improvements in screening accuracy and sensitivity from its strategic partner, Yuva Biosciences, will enhance the evaluation of candidate compounds. This extended timeline aims to yield more reliable results that could support future development efforts.
The broader market is experiencing declines, with major indices like the Nasdaq and S&P 500 down approximately 1.00% and 1.0%, respectively. PMGC’s stock is down significantly, indicating it is caught in a broader sell-off, as the Healthcare sector is also down 0.3% today.
PMGC Buys SVM Machining
Recently, PMGC announced it has completed the acquisition of SVM Machining, Inc., a Northern California-based ISO 9001:2015 certified CNC precision machining company serving medical, aerospace, biotech, semiconductor, and transportation markets.
The deal marks PMGC’s third California CNC shop acquisition, expanding its footprint in precision manufacturing and furthering its strategy to assemble a multi-site machining platform across aerospace, defense, medical, and industrial industries.
PMGC paid $2.25 million in cash, with potential earnout consideration tied to revenue performance. SVM reported 2024 revenue of $3.04 million.
ELAB Shares Plunge Below Key SMAs
Currently, PMGC Holdings Inc. is trading 54.9% below its 20-day simple moving average (SMA) and 89.8% below its 100-day SMA, indicating a bearish trend. Over the past 12 months, shares have decreased by 99.02% and are positioned closer to their 52-week lows than highs.
The RSI is at 17.48, which is considered oversold, suggesting that the stock may be undervalued at current levels. Meanwhile, the MACD is above its signal line, indicating a potential bullish reversal despite the overall bearish sentiment.
The combination of oversold RSI and bullish MACD suggests bullish momentum.
- Key Resistance: $1.85
- Key Support: $1.00
ELAB Price Action: PMGC Holdings shares were down 14.43% at $1.72 at the time of publication on Thursday. The stock is trading at a new 52-week low, according to Benzinga Pro data.
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