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Regenerative Medicine Firm Reports Early Results from COVID-19 Trials
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Pluristem Therapeutics' coronavirus clinical studies and financing are discussed in a Dawson James report.

In a June 11 research note, Dawson James analyst Jason Kolbert reported that Pluristem Therapeutics Inc. (PSTI:NASDAQ) announced the status of COVID-19-infected patients 28 days after treatment with its PLX cells.

Results are for seven patients who reached the 28-day follow-up after receiving Pluristem's PLX cells through a compassionate use program in Israel and the sole patient of an expanded access program in the U.S. When these individuals were treated, all of them were inpatients in intensive care units (ICUs), on ventilator support and suffering acute respiratory distress syndrome (ARDS) symptoms.

Kolbert highlighted that the survival rate among these treated patients at day 28 was 87.5%. Three-quarters of the patients were able to get off of mechanical ventilation, not needing it anymore, and 62.5% of them were discharged from the hospital, alive.

To date, 18 patients received PLX cells, but the remaining 10 of them have not yet reached 28 days.

Kolbert relayed that in other news, another trial commenced that is testing Pluristem's PLX-PAD as a treatment of severe, ARDS-complicated COVID-19 cases. This is a U.S.-based, a 140-patient, multicenter (up to 25 sites), randomized, double-blind, placebo-controlled, Phase 2 study in which PLX cells will be administered intramuscularly.

The trial's primary endpoint is the number of ventilator-free days the patients have during the first 28 days. The secondary endpoints are mortality, duration of mechanical ventilation, number of ICU-free days and number of hospitalization-free days.

In a third piece of news, Kolbert noted, the European Union approved €50 million in nondilutive financing for Israel-based Pluristem, which it is to use to develop its PLX platform, specifically as a treatment for COVID-19 complications. Pluristem will receive these monies in three tranches, the first of which is €20 million, as it achieves certain milestones.

Dawson James has a Buy rating and a $12 per share target price on Pluristem, the stock of which is currently trading at about $7.48 per share.

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Disclosures for Dawson James Securities, Pluristem Therapeutics, June 11, 2020

The Firm does not make a market in the securities of the subject company(s). The Firm has NOT engaged in investment banking relationships with PLURISTEM THERAPEUTICS in the prior twelve months, as a manager or co-manager of a public offering and has NOT received compensation resulting from those relationships. The Firm may seek compensation for investment banking services in the future from the subject company(s). The Firm has NOT received any other compensation from the subject company(s) in the last 12 months for services unrelated to managing or co-managing of a public offering.

Neither the research analyst(s) whose name appears on this report nor any member of his (their) household is an officer, director or advisory board member of these companies. The Firm and/or its directors and employees may own securities of the company(s) in this report and may increase or decrease holdings in the future. As of May 31, 2020, the Firm as a whole did not beneficially own 1% or more of any class of common equity securities of the subject company(s) of this report. The Firm, its officers, directors, analysts or employees may affect transactions in and have long or short positions in the securities (or options or warrants related to those securities) of the company(s) subject to this report. The Firm may affect transactions as principal or agent in those securities.

Analysts receive no direct compensation in connection with the Firm's investment banking business. All Firm employees, including the analyst(s) responsible for preparing this report, may be eligible to receive non-product or service specific monetary bonus compensation that is based upon various factors, including total revenues of the Firm and its affiliates as well as a portion of the proceeds from a broad pool of investment vehicles consisting of components of the compensation generated by investment banking activities, including but not limited to shares of stock and/or warrants, which may or may not include the securities referenced in this report.

Analyst Certification: The analyst(s) whose name appears on this research report certifies that 1) all of the views expressed in this report accurately reflect his (their) personal views about any and all of the subject securities or issuers discussed; and 2) no part of the research analyst’s compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed by the research analyst in this research report; and 3) all Dawson James employees, including the analyst(s) responsible for preparing this research report, may be eligible to receive non-product or service specific monetary bonus compensation that is based upon various factors, including total revenues of Dawson James and its affiliates as well as a portion of the proceeds from a broad pool of investment vehicles consisting of components of the compensation generated by investment banking activities, including but not limited to shares of stock and/or warrants, which may or may not include the securities referenced in this report.





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