Brainstorm Cell Therapeutics Inc. (NASDAQ: BCLI)
Brainstorm Cell Therapeutics is having an incredibly strong start to today's trading session. After a positive press release was offered, the stock climbed in the pre-market. While the market literally just opened, it looks like the stock is going to have a pretty impressive day. Below, we'll talk about what we're seeing from BCLI, why, and what we'll be watching for ahead.
What We're Seeing From BCLI
As mentioned above, the market just opened, but Brainstorm Cell Therapeutics is already having a pretty strong day. After a press release was offered, the stock skyrocketed in pre-market hours, leading to a strong head start on the day. At the moment (9:30), BCLI is trading at $3.63 per share after a gain of $0.21 per share or 6.14% thus far today.
Why The Stock Is Headed Up
As is almost always the case, our partners at Trade Ideas were the first to inform us of the gains on BCLI. As soon as they did, the CNA Finance team started digging to see what was causing the movement. It didn't take long to uncover the story. The gains are ultimately caused by a positive press release.
In the press release, Brainstorm Cell Therapeutics announced that it is planning on contracting with the City of Hope's Center for Biomedicine and Genetics to produce clinical supplies of NurOwn(R) adult stem cells for an upcoming Phase 3 clinical study. In a statement, Dr. Joseph Gold, manufacturing director of City of Hope's biological and cellular GMP manufacturing facility at the Center for Biomedicine and Genetics had the following to offer...
“City of Hope is committed to the advancement of cellular therapy research and the treatment of serious disease that lack effective therapies.. We are pleased to support Brainstorm's ALS clinical research program.”
What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on BCLI. In particular, we'll be watching for further news surrounding the coming Phase 3 trial. Nonetheless, we'll be watching the news closely and we'll be sure to bring it to you as it breaks!
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