Pluristem Therapeutics Inc. (NASDAQ:PSTI)
Pluristem Therapeutics Inc. (NASDAQ:PSTI), headquartered in Israel, established a new 52-week high today of $2.02 after the company announced that the European Patent Office has issued the company a patent titled, “Methods for Treating Radiation or Chemical Injury” for its PLX-R18 cell therapy. Volume for the biotechnology stock, up 9% in today’s trading, was heavy – over five times the daily average traded.
PLX-R18 is designed to treat bone marrow that is unable to produce enough blood cells due to a variety of causes, including acute radiation syndrome (ARS), certain cancers or cancer treatments, or immune-mediated bone marrow failure. Pluristem Therapeutics Inc. (NASDAQ:PSTI) currently holds several patents worldwide to cover placental 3D-expanded cells in the treatment of impaired hematopoietic systems when a bone marrow, cord blood, or peripheral blood transplant takes place.
Yaky Yanay, Co-CEO and President of Pluristem Therapeutics Inc. (NASDAQ:PSTI) stated “PLX-R18 cells have shown the ability to trigger regeneration of the hematopoietic system, thereby supporting the recovery and production of white blood cells, red blood cells and platelets. With its capabilities, we believe that PLX-R18 has the potential to treat a broad range of hematologic indications, which together constitute a substantial global market.”
PSTI Stock Performance
Three investment firms follow Pluristem Therapeutics Inc. (NASDAQ:PSTI) and all three rate PSTI shares as a “Strong Buy”. Their consensus, one year price target is $3.50. Investors have been hot on the stock. Over the past year PSTI stock is up over 30% and is up over 60% for the quarter. That upward momentum has resulted in a Relative Strength Index figure of 73 – prior to today’s trading. Traders believe that a figure above 70 represents an “overbought” condition.
Pluristem Therapeutics Inc. (NASDAQ:PSTI) reported no sales for FY2017 after posting $2.8 million in 2016. The per share loss for FY2017 was (-$0.32) which followed a loss of (-$0.29) in 2016. Of note is a consistent expansion of the number of outstanding shares. For 2013, 55.48 million shares were outstanding. The dilutive expansion of the number of shares has increased every year and for 2017 the figure stands at 87.43 million.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.