Clinical trials for a stem cell therapy developed by Brainstorm Cell Therapeutics (OTC: BCLI) showed promising results in a patient’s ability to tolerate the transplantation of their own cells. Buyers of the stock seemed unimpressed with the news as they failed to push the stock higher, even though the number of shares traded on the day topped the average daily volume by a multiple of six. Part of the trial was to evaluate the safety and preliminary efficacy of the company’s bone-marrow-derived cell therapy, known as NurOwn.
Shares of Brainstorm Cell Therapeutics closed Monday’s trading session at $0.27, or down two cents from the final print on Friday. The stock opened near the day’s high of $0.33, but steadily retreated throughout the day. In the final hour, the stock hit its low for the day of nearly $.025 before rallying a bit into the closing bell. Over 3.2 million shares traded, which made Monday one of the heaviest volume days in the last 12 months. Interestingly, half of the shares were traded in the first 30 minutes of the session.
Like many biotechnology stocks, Brainstorm Cell Therapeutics’ share price can see wide swings related to news and commentary. The 52-week high trade for the stock happened almost a year ago at just a tick below $0.54. By the time the calendar changed to 2012, Brainstorm shares hit a low-water mark of $0.20, or seven cents below today’s closing price. Recently, buyers seem more receptive to the stock as share prices made several passes at $0.35 in the last couple of weeks. The positive energy began during the latter part of June and the first week of July when the company announced that a patient receiving NurOwn treatment noticed marked improvement in speech, walking, balance and appetite. Was today’s price action really a yawn, or just a pause that refreshes after a few positive weeks?
In other recent headlines, Brainstorm Cell Therapeutics announced on July 19, 2012, the closing of a secondary offering of 19.8 million shares, plus warrants for an additional 14.8 million shares, at a price of $0.29. The offering fetched gross proceeds of $5.7 million.
A check of Stockpromoters.com shows a total of 23 promotions. The most recent letter touting the stock was printed over a year ago. Brainstorm Cell Therapeutics received some attention today on Twitter. InvestorStemCell.com took note of the trial news, as did IQStockAlerts.
Brainstorm Cell Therapeutics is a biotechnology company focused on the development of stem cell therapies for neurodegenerative disorders that include Parkinson’s disease, Multiple Sclerosis, ALS, along with spinal cord injuries. The company is headquartered in New York with a subsidiary located in Israel.
Please make sure to read and completely understand our disclaimer at https://www.wallstreetpr.com/disclaimer. While reading this article one must assume that we may be compensated for posting this content on our website.