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Pluristem Tanks as Covid Treatment Candidate Misses Endpoint in Study -Breaking

by Mike Robinson

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© Reuters.

By Dhirendra Tripathi

Investing.com – Pluristem stock (NASDAQ:) plummeted more than 18% Monday after the company’s candidate for treating severe effects related to Covid-19 failed to meet the desired endpoints in a phase-II study.

This treatment uses intramuscular injections of cells (which Pluristem names PLXPAD) to relieve acute respiratory distress syndrome that is associated with viral infections.

Company stated that the treatment didn’t statistically increase the number ventilator-free days of patients over the 28 day studies.

The analysis is based on 89 patients enrolled in two phase-II studies — one in the U.S. and another combined research in Europe and Israel, the home country.

The original plan was to include 180 patients, but the company reduced that number due to Covid-19’s new standards. This change resulted in a decrease of statistical power for the studies.

Pluristem said with the emergence of a new threat in the form of omicron, it intends to explore opportunities based on the efficacy trends obtained from the recent studies.

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