Shares of Pluristem Therapeutics Inc. (NASDAQ: PSTI), a bio-therapuetics company engaged in the commercialization of non-personalized cell therapy products for the treatment of several severe degenerative, ischemic and autoimmune disorders, soared in trading on Thursday.
PSTI shares ended the day 18.96% higher at $3.20 on above average volume of 1.96 million. The stock has now gained 28% in the last three trading sessions.
PSTI shares surged after the company announced that it recently signed a collaborative agreement with CPC Clinical Research (CPC) for services related to enrolling and sustaining clinical sites. The company said that the partnership will leverage CPC’s clinical study expertise.
Pluristem Therapeutics signed the agreement in anticipation of initiating a Phase 2 study using PLX-PAD cells for the treatment of Intermittent Claudication (IC). PSTI has already received FDA clearance for the study.
Zami Aberman, Chairman and CEO of Pluristem, said that the study is a continuation of PSTI’s comprehensive approach for using PLX-PAD for peripheral artery disease.
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