The move brings Brainstorm a step closer to a clinical trial for its ALS product.
Gali Weinreb6 Sep 09 12:52
Despite falling 30% on Thursday and Friday, Brainstorm Cell Therapeutics Ltd. (Bulletin Board:BCLI.OB), a developer of adult stem cell technologies and therapeutics for neurodegenerative diseases, still saw its share rise 60% over last week after reporting a production deal. The share closed at $0.24 on Friday, giving a market cap of $14.35 million.
Brainstorm said that it had agreed to start production with Protein Production Services Ltd. (PPS), a manufacturing contractor. The clinical-grade product will be used in a pre-clinical safety trial for the company’s innovative therapy for ALS (Amyotrophic Lateral Sclerosis, also known as Lou Gehrig’s disease).