Pluristem Therapeutics (Nasdaq: PSTI) announced a non-binding Memorandum of Understanding with Abu Dhabi Stem Cells Center (ADSCC) to collaborate on cell therapies. This partnership aims to leverage each organization’s expertise to enhance regenerative medicine, including treatments for COVID-19. The collaboration includes sharing research, samples, and equipment. Pluristem's PLX-PAD product has been administered under compassionate use programs, while ADSCC has been treating COVID-19 with stem cells. Both entities expressed optimism about improving healthcare in the region and internationally.
Pluristem Therapeutics (Nasdaq: PSTI) provided a shareholder update amidst the COVID-19 pandemic, highlighting advancements in its regenerative medicine candidates. The company anticipates critical clinical readouts, including interim results from its Phase III CLI study by Q4 2020. Pluristem also plans to complete enrollment for its various studies by year-end 2020, including a Phase II COVID-19 study. Financially, it reported $59 million in cash as of June 30, 2020, forecasting operational support for over three years. The commitment to patient health remains a priority during these challenging times.
Pluristem Therapeutics (PSTI) announced FDA clearance for a Phase II study on its PLX cells to treat severe COVID-19 cases complicated by Acute Respiratory Distress Syndrome (ARDS). The study will involve 140 intubated patients, measuring ventilator-free days as the primary endpoint over 28 days. Secondary endpoints include survival rates and ICU free days. Previous compassionate use data indicates potential efficacy. The company also filed a Clinical Trial Authorization in Europe, targeting Germany and Italy for future studies.
Pluristem Therapeutics (PSTI) announced a registered direct offering of 1,587,302 shares at $9.45 each, projected to raise approximately $15 million. Proceeds will support working capital, fund a Phase II study of PLX cell therapy for COVID-19 complications, and cover general corporate expenses. The offering's closing is expected on or before May 7, 2020. Shares are being offered under an existing SEC registration statement. Pluristem specializes in placenta-based cell therapies and has a strong clinical and manufacturing background.
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