Pluristem Therapeutics Inc. (NASDAQ: PSTI) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company announced that it would be releasing topline results from a Phase II clinical trial in just over a week. Of course, the suspense is leading to excitement among investors, sending the stock on a run for the top. Today, we’ll talk about:
- The coming data;
- what we’re seeing from the stock as a result; and
- what we’ll be watching for ahead.
PSTI Heads For The Top On Coming Data
As mentioned above, Pluristem Therapeutics is having an incredibly strong start to the trading session this morning after announcing that data is just around the corner. In a press release issued early this morning, the company announced that top-line results from its multinational Phase II trial of PLX-PAD cells would be coming down the line soon. In fact, the plan is to release the data on June 12, 2018, just 8 days away.
In the press release, PSTI reminded investors that the Phase II trial is evaluating the safety and efficacy of PLX-Pad cells when compared to placebo in 172 patients with IC, Rutherford category 2-3. During teh study, patients received either two courses of 150 x106 PLX-PAD cells, two courses of 300 x106 cells, two courses of placebo, or one course of 300 x106 cells followed by placebo. As a result of the treatment, the hope is that we see a change in maximal walking distance one year after first administration. Other endpoints include the rate of revascularization and other hemodynamic and clinical parameters.
What We’re Seeing From The Stock
As investors, one of the first lessons that we learn is that the news moves the market. In the case of Pluristem Therapeutics, the news proved to be overwhelmingly positive. With data just around the corner, excited investors are hoping for the best, and pushing the stock toward the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:48), PSTI is trading at $1.42 per share after a gain of $0.075 per share or 5.56% 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 data that will be released in just 8 days as excited investors are waiting for a reason to make this stock explode. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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