Pluristem Therapeutics (PSTI) Stock Jumps On COVID-19 Data

Pluristem PSTI Stock News

Pluristem Therapeutics Inc. (NASDAQ: PSTI) is up more than 30% early on this morning after announcing new data. The data came from the company’s compassionate use program after treating multiple COVID-19 patients with its PLX cells. Here’s what’s going on:

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PSTI Stock Pops After Treating COVID-19 Patients

In the release, Pluristem Therapeutics said that seven patients with acute respiratory failure and inflammatory complications as a result of the novel coronavirus have been treated using its PLX cells. These treatments have taken place in three medical centers across Israel.

Prior to treatment with PLX cells, these patients were in the midst of respiratory failure due to ARDS. This is the most dangerous complication associated with COVID-19. Importantly, four out of these seven patients also demonstrated failure of other organ systems.

In the release, PSTI said that six of the patients have completed the seven day follow up period. Nonetheless, in the 6 patients that have reached the follow up, there is a 100% survival rate as of today.

Importantly, four patients demonstrated improvement in respiratory parameters and three patients advanced stages of weaning from ventilators.

PSTI said that one of the patients has shown no change in respiratory parameters, but is still breathing with the assistance of a ventilator and remains relatively stable. Unfortunately, one patient has shown deterioration in respiratory parameters.

It’s also worth mentioning that two of the four patients with multi-oirgan failure prior to treatment showed clinical recovery in addition to respiratory improvement.

Moving forward, the company said that it intends to initiate a clinical trial program surrounding the use of PLX cells in patients suffering from COVID-19 related complications.

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

We are pleased with this initial outcome of the compassionate use program, and committed to harnessing PLX cells for the benefit of patients and healthcare systems. In order to maximize PLX cells’ impact on patient recovery and to work towards making our treatment widely available, we plan to quickly move forward into a clinical development program. Pluristem is dedicated to using its competitive advantages in large-scale manufacturing to potentially deliver PLX cells to a large number of patients in significant need. We believe that research and governmental funding may be available to Pluristem to support the use of PLX cells for patients suffering from COVID-19 and are targeting such funding.

Why This Data Is So Important

At the moment, we are living through a pandemic. Unfortunately, life is changing as we know it and consumers are relatively powerless against COVID-19. Considering this, any treatment that shows signs of promise is going to be exciting. That’s where Pluristem Therapeutics comes in.

According to today’s release, PLX cells seem to be effective in the treatment of the most sick patients with COVID-19. With ARDS being the most dangerous part of the condition, and the company’s PLX cells showing promise in patients with the condition, it only makes sense that investors are excited today.

Moving forward, PSTI may move into clinical trials and prove that PLX cells are a strong treatment option. Should this be the case, the revenue potential here is incredible.

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