Stocks are soaring mid-day Tuesday, 9/27/11 setting stage for a 3rd straight gain …
EconRecon: As employment expectations slightly improved, consumer confidence ticked higher in September while remaining at low levels. The consumer-confidence index rose to 45.4 in September from 45.2 in August, when it had plunged on debt worries, among other factors.
Mid-Day: The NASDAQ is UP +61.28 (+2.43%) to 2,577.97. The Dow is also UP +287.03(+2.60%) to 11,330.89.
Mid-Day Movers: Aastrom (ASTM), Athersys (NASDAQ:ATHX), BioMimetic (NASDAQ:BMTI), BioTime (AMEX: BTX), Dendreon (NASDAQ:DNDN), NeoStem (AMEX: NBS), Opexa (OPXA), Osiris (NASDAQ:OSIR) and Pluristem (OSTI), StemCells (STEM), ThermoGenesis (NASDAQ:KOOL)
What’s new in the regenerative medicine/stem cell market … Not much … but, some stocks are up
Pluristem files to raise $150m: NASDAQ: PSTI; DAX: PJT: PLTR has filed a (another, current one is still effective) shelf prospectus with the US Securities and Exchange Commission (SEC) to raise up to $150 million in shares, preferred shares, and warrants. The prospectus is valid for 3 years. PSTI did not mention an investment bank to accompany the offerings, if and when they are held, but it might use Needham & Co., which underwrote the company’s secondary offering earlier this year. In that offering, PSTI sought to raise $75M, but ultimately raised $41.1M. The shelf prospectus under which that offering was held is still in force, and PSTI can raise $34M under it, but PSTI apparently wants to reserve the option to raise more capital. The bottom line, PSTI may find it easier to sell itself to current and new investors in the future, after meeting several milestones in the development of its drugs. In August, it awarded a license to United Therapeutics Corporation (NASDAQ: UTHR) to use its PLacental eXpanded (NYSEMKT:PLX) cells to develop and commercialize a cell-based product for the treatment of pulmonary hypertension. Pluristem is also carrying out a P2/3 clinical trial of its most advanced product, PLX-PAD, in patents with critical limb ischemia (obstruction of the arteries). PSTI’s share price rose mid-day, 3.60% to $2.30, giving a market cap of $98.73M.