Pluristem Therapeutics (PSTI) Stock Climbs On COVID-19 Treatment

Pluristem PSTI Stock News

Pluristem Therapeutics Inc. (NASDAQ: PSTI) is flying in the market this morning, and for good reason. The stock is trading on gains of more than 15% after announcing the expansion of its compassionate use program and first treatment of a COVID-19 patient. Here’s what’s going on:

Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!

PSTI Stock Is Flying On COVID-19 Treatment Update

In the press release, Pluristem Therapeutics said that it has treated its first patient with COVID-19 complications in the United States. The patient was treated under the United States FDA’s Single Patient Expanded Access Program, also commonly referred to as a compassionate use program.

The program is part of the United States Coronavirus Treatment Accelerated Program, or CTAP. CTAP is an emergency program for possible therapies that uses every available method to bring new treatments to patients as fast as possible.

In the release, PSTI said that the patient was treated with PLX cell therapy at Holy Name Medical Center in New Jersey. Before treatment, the patient was critically ill with ARDS leading to respiratory failure. The patient was under mechanical ventilation in an ICU for a period of 3 weeks.

In a statement, Yaky Yanay, President and CEO at PSTI, had the following to offer:

We are receiving many inquiries and requests for treatment from healthcare providers and families worldwide. In parallel with our planned clinical trial, we expect to continue treating patients under compassionate use through the appropriate regulatory clearances in the United States and Israel, as well as expanding treatment under compassionate use in other countries. Our main focus remains however, the initiation of a multinational clinical study.

Why This News Is Exciting

This is an interesting press release because it forces us to read between the lines. Nonetheless, the news was positive for Pluristem Therapeutics and its investors. First and foremost, I don’t need to tell you that COVID-19 is changing the world as we know it. As such, treatment options are needed if we’re going to beat this pandemic. Now comes the reading between the lines.

Nowhere in the press release did PSTI provide data from the first patient treated with PLX cell therapy. Nonetheless, what we do know is that,

  • the patient was critically ill;
  • the company is expanding its clinical program surrounding PLX cell therapy for coronavirus patients; and
  • it is very unlikely that expansion would take place if a negative outcome was the result from the first patient.

Considering this, I am led to believe that the first patient treated with PLX cell therapy as an option to fight COVID-19 coplications had a positive outcome. Considering this, PSTI is a stock that should not be ignored.

Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!

Don’t Miss The Next Big Story

Join our mailing list below to receive real-time news alerts!

Subscribe Today!

* indicates required

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.