Pluristem Therapeutics Inc. (NASDAQ: PSTI) is having an overwhelmingly strong start to the trading session this morning after the company announced results from a multinational Phase II clinical study. Of course, the results proved to be positive, leading to excitement among investors and sending the stock on a run for the top. Today, we’ll talk about:
- The clinical results;
- what we’re seeing from PSTI as a result;
- and what we’ll be watching for with regard to the stock ahead.
PSTI Heads Up On Clinical Data
As mentioned above, Pluristem Therapeutics is having an overwhelmingly strong start to the trading session this morning after the company announced positive top-line results from a Phase II clinical study. In a press release issued early this morning, the company provided results with regard to the study of PLX-PAD cells in the treatment of Intermittent Claudication. In the release, PSTI said that the PLX-PAD tratment reduced instances of revascularization and improved patient mobility. The study results also further validated the design of the ingoing Pivotal Phase III study in CLI, a more severe form of peripheral arterial disease (PAD). The study also provided confirmation surrounding the company’s proprietary Bio-Therapeutic approach.
In the release, PSTI said that the primary endpoint of change from baseline in MWD at 52 weeks compared to placebo was met. Also, key secondary enpoints wer met, making the trial a success. In a statement, Zami Aberman, Chairman and Co-CEO at PSTI, had the following to offer:
We are very pleased with the study results that may bring hope to millions of patients worldwide suffering from peripheral artery diseases… These results suggest that PLX-PAD cells may be efficacious in the treatment of PAD and could significantly reduce the need for invasive procedures in these patients. Furthermore, these results provide important validation to our ongoing pivotal Phase III study in CLI in terms of dose selection, dual-dosing administration regimen and the superiority of our proprietary Bio-Therapeutic approach we have developed in the last few years of using different placentas when more than one treatment is required. The unique PLX platform and manufacturing processes we developed enable us to confirm donor-to-donor and batch-to-batch comparability and achieve optimal clinical benefits.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news causes moves. In the case of Pluristem, the news proved to be overwhelmingly positive. After all, this Phase II study not only met its primary and secondary enpoints, it proved to be a source of validation for a pivotal study that is taking place as we speak. So, it’s no surprise that excited investors are sending the stock on a run for the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. At the moment (7:43), PSTI is trading at $1.57 per share after a gain of $0.17 per share or 12.14% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on PSTI. In particular, we’re interested in following the story surrounding the ongoing work with regard to the PLX-PAD platform as clinical results are proving to be overwhelmingly positive. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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