Stem-Cell research company Pluristem Therapeutics Inc.'s (NASDAQ: PSTI) stock volume soared Jan. 22 when 1,034,968 shares changed hands, more than three times its three-month average volume of 297,905.
Positive test results
The surge came on the heels of a Jan. 21 announcement made by the Israel-based company that results from its early/mid-stage clinical trial indicated its placenta-derived stem cells for the treatment of muscle injury were safe and provided evidence the cells might be effective in treating orthopedic injuries.
"Patients treated with PLX-PAD had a greater improved change of maximal voluntary muscle contraction force than the placebo group," the statement said.
The trial was conducted at the Orthopedic Clinic of the Charite University Medical School under the auspices of the Paul-Ehrlich-Institute, Germany's health authority.
Approval to provide cells
Today, Pluristem Therapeutics announced more positive news in a written statement.
The company says it has just received approval from the Paul-Ehrlich-Institute (PEI), Germany's health authority, to supply cells from its advanced, fully automated, and proprietary 3D cell expansion manufacturing platform implemented at its new state-of-the-art GMP facility.
"Pluristem's new manufacturing facility has the capability to efficiently produce over 150,000 doses of PLX cells annually, which potentially translates into significant economic value," the statement said.
At the opening of the market this morning, PSTI stock was trading at $4.38 up 13 cents from its close of 4.25 cents a share on Jan. 22, up 8 cents from 4.17 the previous day.
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http://http://www.sixfigurestockpicks.com/cents a share on Jan. 22, down 15 cents from $ 1.44 the previous day.
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