FBR Capital Reiterates Outperform on Pluristem Therapeutics (PSTI) Following Announced Phase l PLX-R18 Trial

FBR Capital reiterated an Outperform rating on Pluristem Therapeutics (NASDAQ: PSTI) following the company's announcement that it plans to initiate a Phase I trial to investigate PLX-R18 cells for treating patients who have undergone hematopoietic cell transplantation (HCT) with insufficient hematopoietic recovery.

Analyst Vernon Bernardino commented, "On the morning of July 11, Pluristem Therapeutics announced its plan to initiate a Phase I trial within the next several months to investigate PLX-R18 cells for treating patients who have undergone hematopoietic cell transplantation (HCT) with insufficient hematopoietic recovery. As a reminder, the National Institute of Allergy and Infectious Diseases (NIAID) already has plans to study PLX-R18 as a medical countermeasure for Acute Radiation Syndrome. This IND was approved by the FDA and will be conducted in collaboration with an external clinical research organization (CRO). As its primary objective, this open-label, dose-escalation trial will measure the safety of PLX-R18 in patients with incomplete hematopoietic recovery lasting for six months or longer. While this trial is designed for a specific patient population, we think it would also generate safety data and provide early efficacy signals that could enable Pluristem to determine PLX-R18's potential in a broader range of hematological cancers and radiation therapy-related hematological indications. We would look for clinical data from this Phase I trial to validate preclinical findings demonstrating the ability of PLX 18 cells to promote bone marrow regeneration and support the normal production of normal blood cells. We reiterate our Outperform rating."

For an analyst ratings summary and ratings history on Pluristem Therapeutics click here. For more ratings news on Pluristem Therapeutics click here.

Shares of Pluristem Therapeutics closed at $1.45 yesterday.

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