Stock Alert: Pluristem Therapeutics Stock Up 16% In Premarket

(RTTNews) - Shares of Pluristem Therapeutics Inc. (PSTI) are rising over 16% in pre-market today, after the company announced that the European Investment Bank has approved a €50 million non-dilutive financing for the company.

This Approved Financing, once received, would support Pluristem's research and development in the EU to further advance its regenerative cell therapy platform, and to assist moving the products in its pipeline to market, with a special focus on clinical development of PLX cells as a treatment for complications associated with COVID-19.

The Approved Financing would be deployed in three tranches, subject to the achievement of certain clinical, regulatory and scaling up milestones, with the first tranche consisting of €20 million. The expected signing date of the financing agreement relating to the Approved Financing is April 30, 2020.

The stock has been trading in the range of $2.82 - $10.88 for the past one year, and closed Thursday's trade at $10.36, up $1.37 or 15.24%. PSTI is currently trading at $12.08, up $1.72 or 16.60% in the pre-market trading session.