Needham & Company Maintains a 'Buy' on Pluristem Therapeutics (PSTI); Enters into Early-Stage Licensing Agreement Around PLX Cells

Needham & Company maintains a 'Buy' on Pluristem Therapeutics (NASDAQ: PSTI), PT $5.

Needham analyst says, "This morning, Pluristem announced an outlicensing agreement with United Therapeutics (Nasdaq: UTHR)(NR) for the development and commercialization of PLX cells for the treatment of pulmonary hypertension (PH). United Therapeutics will make an upfront $7MM payment to Pluristem along with potential future upfront payments, milestones, and sales royalties. Pluristem will provide commercial grade product at cost-plus to United Therapeutics...We are impressed with the robust collaboration for this PH indication, given the terms of the licensing in relation to the early stage nature of the program. We believe the partnership is reflective on the increased attention by big Pharma/biotech towards regenerative medicine/adherent stromal cells as a whole and the manufacturing capabilities of Pluristem Therapeutics in particular."

For more ratings news on Pluristem Therapeutics click here and for the rating history of Pluristem Therapeutics click here.

Shares of Pluristem Therapeutics closed at $2.98 yesterday.

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