Brainstorm Cell Therapeutics Inc (NASDAQ: BCLI) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company offered an update with regard to a Phase 3 clinical trial that proved to be a source of excitement for investors who are sending the stock screaming for the top. Today, we’ll talk about:
- The clinical update;
- what we’re seeing from BCLI stock; and
- what we’ll be watching for ahead.
BCLI Announces Clinical Update
As mentioned above, BrainStorm Cell Therapeutics is having an incredibly strong start to the trading session this morning after providing a clinical update. In a press release issued early this morning, the company announced that the independent Data Safety Monitoring Board (DSMB) has completed a pre-specified interim analysis of safety outcomes for the first 31 patients treated in the Phase 3 trial. During the trial, BCLI is assessing NurOwn® in ALS patients. In the release, the company said that the interim analysis revealed no significant safety concerns. As a result, the DSMB recommended that the trial continue as planned.
In a statement, Carlayne Jackson MD, A chairperson on the DSMB for BCLI, had the following to offer:
The DSMB appreciates the continued commitment of Brainstorm and the research teams to conducting this trial in such an exemplary manner… We commend them on their outstanding enrollment and the quality of data collection.
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 Brainstorm Cell Therapeutics, the news proved to be overwhelmingly positive. After all, the positive safety review means that the company will continue with this pivotal trial as planned and is one step closer to commercialization. So, it comes as no surprise to see that the stock is making a run for the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:27), BCLI is trading at $4.20 per share after a gain of $0.16 per share or 3.96% 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 BCLI. In particular, we’re interested in following the story surrounding the company’s continued work in the treatment of ALS as all data to date has been overwhelmingly positive and the safety review came back with similar results. Nonetheless, we’ll continue to keep a close eye on the story and bring the news to you as it breaks!
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