BioTech

Grant Award Rockets Brainstorm Cell Therapeutics Inc (NASDAQ:BCLI)

$BCLI Stock

Brainstorm Cell Therapeutics Inc (NASDAQ:BCLI)

Brainstorm Cell Therapeutics Inc (NASDAQ:BCLI) shares gained over 9%, ended the day at $4.94, and pushed a key indicator into overbought territory. The average volume of BCLI shares is barely over 100,000 shares but over 1 million shares traded on Friday after the biotech firm announced that the California Institute for Regenerative Medicine (CIRM), the world’s leading advocate for stem cell research, has awarded Brainstorm Cell Therapeutics Inc a $16 million grant to pursue a Phase 3 study of NurOwn®, for the treatment of amyotrophic lateral sclerosis (ALS).

 

BrainStorm Cell Therapeutics Inc (NASDAQ:BCLI), based in Hackensack, NJ, develops autologous stem cell therapies for neurodegenerative diseases such as Amyotrophic Lateral Sclerosis (ALS, also known as Lou Gehrig’s disease), Multiple Sclerosis (MS) and Parkinson’s Disease (PD).

Brainstorm Cell Therapeutics Inc (NASDAQ:BCLI)’s Phase 3 clinical trial investigating NurOwn in ALS is expected to enroll approximately 200 patients and will be conducted at six top ALS clinical sites – all located in the U.S. The results will be measured by the ALSFR-S score responder analysis. The patient population will be optimized to include faster-progressing patients who demonstrated superior outcomes in the NurOwn Phase 2 ALS trial.

Brainstorm Cell Therapeutics Inc (NASDAQ:BCLI) shares have done well. Over the past year, BCLI shares have increased over 105% and increased almost 95% YTD. Friday’s interday high was $5.18 while the 52-week high (based on closing price) is $5.10. The move pushed the shares’ Relative Strength Index above 75 – a reading above 70 is normally taken as an overbought signal.

While the share price has been staller, losses have been te norm for BCLI shareholders since 2012 when a per share loss of (-$037) was posted. That per share loss was followed by annual losses of (-$0.46), (-$0.68), (-$0.46), and (-$0.27) for 2016. The lone investment firm that follows BCLI shares rates them as a “Strong Buy”.

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: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

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