In a research report published Monday, Maxim analyst Jason Kolbert maintained a Buy rating on Pluristem Therapeutics (NASDAQ:PSTI) with an $8.00 price target, as the company announced new data from its Phase I/II clinical trial of PLacental eXpanded (PLX-PAD) cells in the treatment of muscle injury after total hip arthroplasty (THA).
Kolbert noted, “The data showed that six months after surgery the magnitude of improvement in muscle force of the contralateral (non-operated) gluteal muscle was approximately 40 times larger in patients treated with 150 million PLX-PAD cells than in those who received placebo (19.4 vs 0.5 Nm, p=0.0114). Patients treated with 300 million PLX-PAD cells also showed a larger increase in muscle force compared patients injected with placebo (9.48 vs 0.46 Nm, p=0.227). There was a large and statistically significant improvement in patients who were injected with 150 million cells versus those who received placebo (31.1 vs 5.4 Nm, p=0.0067).”
The analyst concluded, “We are encouraged by the data set from the muscle injury trial, especially data that supports systemic effect shown. We believe the utility of these cells in soft tissue injury in encouraging. The range of indications possible is substantial. We are hopeful now to see the company build on this data set with an eye towards US clinical trials, European and Japanese expedited approvals with phase II/III trial programs and or possible partnerships.”