Biotech Shares Halted Premarket As FDA Reviews Application

By: Tomas Ronolski - AllPennyStocks.com News

Wednesday, September 27, 2023

A New York-based biotech company is capturing the attention of the trading community after shares of the micro cap were halted as the FDA reviews the company’s biologics license application for NurOwn. According to the release, NurOwn is an investigational treatment for amyotrophic lateral sclerosis, or ALS.

Shares of Brainstorm Cell Therapeutics Inc. (Nasdaq:BCLI) were bid up at $0.4244/share (+8.27% implied open for sellers) leading up to the halt. It should be an exciting session for this stock as more information comes to light.

Brainstorm Cell Therapeutics Inc is a biotechnology company. The company is developing novel adult stem cell therapies for debilitating neurodegenerative disorders such as Amyotrophic Lateral Sclerosis (ALS, also known as Lou Gehrig's disease), Progressive Multiple Sclerosis (PMS), and Parkinson's disease (PD). Brainstorm's NurOwn, its proprietary process for the propagation of Mesenchymal Stem Cells (MSC) and differentiation into neurotrophic factor-(NTF) secreting cells (MSC-NTF), and their transplantation at, or near, the site of damage, offers the hope of more effectively treating neurodegenerative diseases.

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