Neuralstem, Inc. (NASDAQ:CUR)
Neuralstem’s stock price has continued its downtrend despite the news of a $1 million grant from the National Institutes of Health. The grant is classified as a Small Business Innovation Research grant but also goes by the name of America’s Seed Fund. However, Neuralstem stock ended Friday’s Nasdaq session down over 13%. Neuralstem stock chart:
About Neuralstem, Inc. (NASDAQ:CUR)
Neuralstem, Inc. (NASDAQ:CUR), headquartered in Germantown, MD, has developed a number of drug candidates based off their proprietary neural stem technology. The company is a clinical-stage biopharmaceutical company that develops treatments for nervous system diseases with a high unmet medical need. Neuralstem’s lead drug candidate, NSI-189 is a small molecule in clinical development for major depressive disorder (MDD) and in preclinical development for Angelman’s syndrome, irradiation-induced cognitive impairment, Type 1 and Type 2 diabetes and stroke. Also in development is NSI-566. This is a stem cell therapy being tested for treatment of paralysis in stroke, chronic spinal cord injury (cSCI) and Amyotrophic Lateral Sclerosis (ALS).
Neuralstem’s Recent History
On July 24, 2017, Neuralstem stock hit an inter-day high of $6.06 but gapped down the next morning to close with a massive 55% loss. The market was reacting to the news that Neuralstem’s drug candidate NSI-189 missed on at least one if its primary endpoints. NSI-189 did not meet its primary efficacy endpoint of a statistically significant reduction in depression symptoms on the Montgomery-Asberg Depression Rating Scale (MADRS). However, the 40 mg QD dose was directionally positive on the MADRS.
While CUR share prices rebounded from their opening lows, Neuralstem’s stock price losses continued every day over the next week. CUR shares now sit on their 52-week lows of $1.18. Remarkably, the two investment firms that follow Neuralstem, Inc. (NASDAQ:CUR) both have CUR shares rated as a “Strong Buy”. This comes despite the lack of revenues and share losses that have been incurred by shareholders every year. In 2013, Neuyralstem’s per share loss was (-$3.57), that was followed by yearly losses of (-$3.38), (-$2.99), (-$and, for 2016, (-$2.53). Meanwhile, shareholders have been diluted every year. In 2012 the number of shares outstanding was 4.47 million. That number has increased every year and in 2016 was reported at 8.35 million shares outstanding.
Neuralstem, Inc. (NASDAQ:CUR) stock has a Relative Strength Index (RSI) figure of 14. That is a level that most traders believes represents an “oversold” condition.
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: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.