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Pluristem Therapeutics, Inc. (PSTI) Stock Leaping Forward in Premarket, Here’s What you Should Know

Pluristem Therapeutics, Inc. (PSTI) is engaged in the production of cell-based product lines for commercial use. The company focuses on the development of regenerative medicine for the treatment of ischemia, damaged muscle, hematology deficits, and inflammation. PLX-PAD is in the clinical trials phase for treating various disorders such as acute respiratory distress syndrome, graft versus host disease.

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The price of PSTI stock during the regular trading on January 14, 2022, with a significant incline of 10.29% jumped to $1.93. At last check in the premarket on January 18, 2022, the stock further rocketed by 13.99%.

PSTI: Event and Happenings

PSTI reported that the company’s CTO Lior Raviv will present at the 2022 Allogenic Cell Therapies Summit Europe on January 19, 2022, and will share his thoughts on “Becoming Cell Therapy ‘Makers’: Opportunities and Challenges Regarding In-House Manufacturing of Allogeneic Cell”.

On January 10, 2022, PSTI reported about its entry into a strategic partnership with one of the largest food producers Tnuva Group for the development, manufacture, and commercialization of cell-based cultured food products for the industry. The partnership was initiated with the incorporation of an innovative firm that utilizes special global license rights in the development of cultured meat products.

PSTI: CEO Comments

Speaking at the occasion, PSTI CEO Zami Aberman said that the partnership will provide vast potential towards an innovative future for the food industry. He further added that the collaboration will lead to the establishment that leverages its cell-based tech program.

On December 27, 2021, PSTI reported the topline outcomes of Phase 2 trials assessing the safety, tolerability, and efficacy of PLX-PAD cells intramuscular injections used in COVID-19.  The outcomes did not meet the primary statistical endpoint of the study.

On November 15, 2021, PSTI reported about the full patient enrollment in its Phase 3 PLX-PAD cells study for treating muscle injury. The study was performed to evaluate the tolerability, safety, and efficacy of PLX-PAD intramuscular administration in the patients. The topline outcomes are likely in the third quarter of 2022.

On November 10, 2021, PSTI reported about the receipt of approval for added funding from the Israel Innovation Authority to help support its innovative PLX program. The grant is part of PSTI’s work in lieu of the CRISPR-IL consortium, funded by IIA using its Bio-Convergence platform.

PSTI: Key Financials

On November 8, 2021, PSTI reported its financial results for the quarter ended September 30, 2021. Some of the key updates are as follows

Assets

Total current assets for the quarter were reported to be $62.8 million.

Net Loss per Share

Basic and diluted net loss per share for the quarter ended September 30, 2021, was $11.4 million or $0.36 per share compared to the same period of 2020 when it was $8.4 million or $0.33 per share.

Conclusion

PSTI stock is on a declining verge for the past six months due to the pandemic halting the economic activities around the globe. The analysts are associating the current premarket rise of stock with the company’s recent announcement regarding its appearance at an international level summit. The company’s policies as stated by the experts are strong and have a directional approach.

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