Pluristem Therapeutics Inc. (NASDAQ: PSTI) is having a relatively strong start to the trading session this morning, and for good reason. The company announced a successful one-year follow up with regard to a compassionate use case surrounding its experimental product. The news proved to be positive and investors ate it up, pushing the stock toward the top. Today, we’ll talk about:
- The news;
- what we’re seeing from PSTI stock as a result;
- and what we’ll be watching for ahead.
PSTI Announces Positive Compassionate Use Case
As mentioned above, Pluristem is having a relatively strong start to the trading session this morning after announcing a successful one-year follow up of a compassionate use case of its PLX-PAD.
The compassionate use case included a patient with Buerger’s disease who was granted the use of the PLX-PAD as a treatment. The patient was diagnosed with the condition about four years ago, leading to painful, non-healing ulcers on his foot. Proceedures that are currently available failed to prove to be successful in restoring sufficient blood flow to the affected limb and the patient continued to progress to a pre-amputation stage.
From there, the patients physician requested that he be given a compasionate use of PSTI PLX-PAD cells. This request did receive regulatory approval and the treatment received two administrations of the treatment to the foot approximately eight weeks apart. The follow up showed that the patient continues to do well and has sen a measurable restoration of peripheral blood supply. In fact, the patient has no more concerns of amputation. In a statement, Zami Aberman, Chairman & Co-CEO at PSTI, had the following to offer:
The positive outcome experienced by the patient reflects what we believe is the broad potential of PLX-PAD in treating a wide range of vascular and inflammatory conditions, where improved treatment paradigms are surely needed. While we advance PLX-PAD in our ongoing multinational Phase III clinical study in critical limb ischemia (CLI), we are pleased to see more supportive evidence of patients benefiting from our PLX regenerative agents. We are now enabling access to PLX-PAD treatment through our U.S. Expanded Access Program in CLI and will explore to expand the program to include Buerger’s disease patients.
This is overwhelmingly positive news that investors should be paying close attention to. At the moment, Buerger’s disease is a very hard condition to combat. However, in a compasionate use case, it is clear that the PLX-PAD treatment is proving to be effective. With Orphan Drug Designation and continued positive data, it’s hard to discount the value of this candidate.
What We’re Seeing From The Stock
One of the first things that we learn when we start to work in the market is that the news leads to moves. When it comes to Pluristem, the news proved to be overwhelmingly positive. After all, the strong data from the compasionate use case suggests that the company’s PLX-PAD cells are proving to be effective, bringing the treatment one step closer to potential FDA approval. So, it’s not surprising that excited investors are pushing the stock upward in the market this morning. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:16), PSTI is trading at $1.09 per share after a gain of $0.03 per share or 2.84% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the iWatch Markets team will continue to keep a close eye on PSTI. In particular, we’re interested in following the story surrounding the company’s continued work to bring its PLX-PAD product to market. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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