Pluri Inc Stock Price, News & Analysis

Pluri Inc. (Nasdaq: PLUR) has unveiled a revolutionary cell manufacturing system called PluriMatrix, which significantly boosts cell production efficiency and scalability, addressing a major challenge in cell-based industries such as pharma, biologics, foodtech, and agri-tech. This patented 3D cell expansion technology is designed to enhance productivity, with Ever After Foods, a subsidiary, anticipating a remarkable 700% increase in productivity for cultivated meat production. The modular system not only reduces the ecological footprint but also lowers infrastructure costs. CEO Yaky Yanay emphasized the system's potential to bring substantial benefits to health and food safety while expanding Pluri’s market reach. This breakthrough positions Pluri to capitalize on its technological advances through industry collaborations.

Pluri Inc. (Nasdaq: PLUR) successfully achieved proof of concept in its joint venture with Tnuva Group for cultivated meat products, utilizing its proprietary 3D cell-based technology. The company launched a new strategy focusing on sustainability and innovative cell-based solutions across various sectors. Pluri is strengthening its financial position through cost-cutting measures and collaboration efforts, including a new partnership in biologics with a leading European manufacturer. The cultivated meat market is projected to reach $140 billion by 2030, positioning Pluri as a potential leader in this expanding industry.

Pluri Inc. (Nasdaq: PLUR) announced the execution of securities purchase agreements for the sale of 7,885,900 common shares and warrants. Shares were sold at prices ranging from $1.03 to $1.06, with a total expected closing date by January 31, 2023. CEO Yaky Yanay will forgo $375,000 of his annual salary for equity grants. The offerings were made under SEC exemptions and are not registered under the Securities Act. Pluri is focused on developing cellular solutions for various industries, including regenerative medicine and food-tech.

Pluri Inc. (Nasdaq: PLUR) announced its participation in three key conferences: CPHI Frankfurt from November 1-3, 2022, Jefferies London Healthcare Conference from November 15-17, 2022, and a virtual conference on Mesenchymal Stem Cells from November 17-19, 2022. Key executives including the Chief Commercial Officer and Chief Medical Officer will represent Pluri. These events aim to foster networking and knowledge sharing within the pharmaceutical and biotechnology sectors.

Pluri focuses on innovative cell-based solutions, advancing regenerative medicine, food technology, and biologics.

Pluri Inc. (Nasdaq: PLUR) has announced a new strategy that will reduce its annual cash burn by 30%, aiming to lower it from $36 million to approximately $24 million. The company currently has $56 million in cash reserves as of June 30, 2022. Pluri has entered a collaboration agreement with a leading European manufacturer to develop biologic APIs using its 3D cell expansion technology, which aims to provide cost-effective and cruelty-free solutions. This partnership marks Pluri's second technology collaboration, following its agreement with Tnuva Group for cultivated food products.