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WBB, Steve Brozak initiates on Pluristem (PSTI)

Initiates PSTI with a speculative “BUY” rating and a 12-month price target of $4.00

“WBB considers PSTI as an important bio-therapeutics company developing allogeneic stem cell products for storage prior to injecting into patients not related to the donor.  PSTI has developed the PluriX™ 3D bioreactor system, a proprietary bioreactor for expanding mesenchymal-like Adherent Stromal cells (ASCs) from donated placentas. 

PSTI’s lead therapeutic, PLX-PAD is a Phase II/III biologic for Critical Limb Ischemia (NYSE:CLI), the end-stage of Peripheral Artery Disease (PAD).  The limb ischemia market is estimated at $4B. Other disease targets include Inflammatory Bowel Disease (NYSEARCA:IBD), Multiple Sclerosis, Stroke and an alternative to bone marrow transplant“.

The Bottom Line: Steve Brozak, a noted analyst in the regenerative medicine universe believes PSTI’s approach is unique on several levels including manufacture, off-the-shelf availability of therapeutic, essentially unlimited dosing capabilities, an understanding of delivery and homing capabilities of the cells,  a recently validated target indication (CLI) and a major pending milestone (Phase II/III trial planned with U.S. and EU regulatory authorities).

Review our 3/1/11 blog: Pluristem (NASDAQ:PSTI) Positive Pre-Clinical Data for Muscle Injury at http://www.scimitarequity.com/blog/2011/03/01/pluristem-psti-positive-pre-clinical-data-for-muscle-injury