Pluristem, Israeli Stem Cell, Files To Raise Cash (PSTI)
An Israeli stem cell company called Pluristem Therapeutics Inc. (NASDAQ: PSTI) has filed with the SEC to sell up to $15 million in securities of common stock and warrants. One interesting note is that no underwriters were listed in the shelf filing.
The stem cell production tech company listed its use of proceeds as being earmarked for research and product development activities, working capital, and other general corporate purposes.
Pruristem stock closed today at $1.63 each, down $0.11 on the day, and shares are actually indicated up marginally after the news. This is a very thin volume stock with an average daily volume of only about 9,500 shares per day and a market cap of $11.3 million before any dilution.
Earlier this week the company announced it was going to be exhibiting and presenting at the BIO International Convention held in San Diego, California and a presentation would be given today from its SVP of corporate development called “The Clinical Application of 3D Expanded Placental-derived Mesenchymal Stromal Cells.”
Jon C. Ogg
June 18, 2008