Maxim Group Remains Positive On Neostem After Reviewing Interviews From AHA Meeting

In a research report released today, Maxim Group analyst Jason Kolbert maintained a Buy rating on Neostem (NASDAQ:NBS) with a $15 price target, after reviewing some of the interviews from the American Heart Association meeting and, in particular, the one with Peter Block MD interviewing Arshed Quyyumi MD FACC.

The following bullets contain some highlights from Kolbert’s report:

  • The three deaths in the study were all in the placebo group, none in the control group. In the high dose arm there was a significant (70%) reduction in Major Adverse Cardiac Events (MACE).
  • High dose patients showed an absolute improvement in ejection fraction of 10% (34% to 44%). KOL’s tell us this is meaningful.
  • Dr. Quyyumi states that the trial represents a milestone in the stem cell space as it is the largest amount of selected progenitor cells, CD34+, ever given to severe heart attack patients. The data is encouraging and suggests that a pivotal trial designed to mimic the pII trial but focused on high dose group should be able to replicate the data and consistently deliver improvement to these patients.
  • We believe that the trial results suggest that If Neostem runs a pivotal trial, (400-500 patients) with two arms, active and control, at high dose (20M-80M cells) and has mortality and MACE as endpoints, that the trial has a high probability of success.

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jason Kolbert has a total average return of 5.2% and a 40.0% success rate. Kolbert has a 9.8% average return when recommending NBS, and is ranked #692 out of 3377 analysts.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts