BrainStorm Cell Therapeutics Inc. Raises $10.5 Million In Financing


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OTC:BB:BCLI / PK:INOH / OTC:BB:SBOTF
06/18/2014 [ACCESSWIRE]

BrainStorm Cell Therapeutics Inc. (OTCQB: BCLI) saw its share volume remain strong on June 18th with 1,401,043 shares exchanging hands, slightly higher than its three month daily average volume of 938,829 shares.

Just last week, BrainStorm Cell Therapeutics announced that it has entered into definitive agreements with a group of investors, including several healthcare-focused funds, in connection with a private placement of common stock and warrants to purchase common stock. Upon the closing of this financing, BrainStorm will receive gross proceeds of $10.5 million, resulting from the issuance and sale of 42.0 million shares of common stock at a price per share of $0.25, a 15% discount to the 30 day volume-weighted average price of $0.294. The purchasers will also receive warrants to purchase up to 42.0 million shares of common stock at an exercise price of $0.348 per share. The warrants are exercisable immediately upon closing of the private placement and have a term of three years.

BrainStorm intends to use the aggregate net proceeds of the financing primarily for working capital and general corporate purposes, including our recently launched phase 2 amyotrophic lateral sclerosis clinical trial.

BCLI closed the day at $.30, 3.45% higher than its previous close of $.29.

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In Ovations Holdings Sees Share Price Plummet

In Ovations Holdings, Inc. (OTCPINK: INOH) saw its share volume skyrocket on June 18th with 130,361,606 shares exchanging hands, ten and a half times higher than its three month daily average volume of 12,351,706 shares.

Just this morning, In Ovations Holdings announced that it intends to commence its early detection testing for lung cancer using the sputum cytology technology licensed from its Vice-President of Technology, Mel Ehrlich, Ph.D.

Lung cancer early detection testing will be under the supervision of Dr. Osiris Madera, the Company's new Caribbean Health Markets advisor, formerly the Dominican Republic's Deputy Minister of Health. Dr. Madera has extensive experience in ultrasound, management of health systems and institutional planning and management.

INOH closed the day at $.0047, 36.49% lower than its previous close of $.0074.

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Stellar Biotechnologies Sees Share Volume Soar

Stellar Biotechnologies Inc. (OTCQB: SBOTF) saw its share volume soar on June 18th with 940,740 shares exchanging hands, five times higher than its three month daily average volume of 182,413 shares.

Earlier this month, Stellar Biotechnologies announced the appointment of Gregory T. Baxter, Ph.D. and Charles V. Olson, D.Sc. to the Company's Scientific Advisory Board (SAB). They will join Daniel C. Adelman, M.D., Malcolm Gefter, Ph.D., Daniel Morse, Ph.D. and Andrew Saxon, M.D. on the SAB. Stellar's SAB is composed of eminent scientists and physicians representing a range of disciplines including immunology, molecular biology and biochemistry. The SAB will be an ongoing resource to provide Stellar's management with counsel and guidance pertaining to the research, development, and clinical application of Stellar's KLH technology.

"It's been gratifying to be a part of Stellar's corporate achievements this past year and I look forward to contributing on the Company's research front and in the advancement of its C. diff immunotherapy program," said Dr. Baxter.

"This is an exciting time for Stellar with its many promising commercial opportunities that the Company has in its sights," said Dr. Olson. "I am excited to join a team with such a strong technology position, and I look forward to being a part of their success."

Frank Oakes, Stellar's president and CEO, said, "We are delighted to have both of these biotechnology experts available to our internal teams and to advise our Board of Directors as we advance corporate objectives and deliver on key research and operational goals."

SBOTF closed the day at $.84, 14.2% lower than its previous close of $.979.

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