Brainstorm Cell Therapeutics (BCLI) Stock Plummets Ahead of ALS Trial Results

Brainstorm Cell Therapeutics (BCLI) is scheduled to announce results from its phase II ALS trial on Monday.
By Rachel Aldrich ,

NEW YORK (TheStreet) -- Shares of Brainstorm Cell Therapeutics (BCLI) - Get Reportare sliding 13.58% to $3.08 on heavy trading volume this morning after the company announced that it would post results from its phase II study for Amyotrophic Lateral Sclerosis, or ALS, on Monday, July 18.

Over 2.72 million shares have been traded so far today vs. the stock's average of just over 69,000 shares per day.

ALS, also known as Lou Gehrig's disease, is a progressive degenerative neurological disease affecting neurons in the brain and spinal cord.

The company's ALS drug, NurOwn, contains stem cells inducted to secrete neurotrophic factors that can support and repair damaged neurons in ALS patients, according to a company statement.

Brainstorm Cell Therapeutics, a biotechnology company based in Hackensack, NJ, will announce results for the second phase of the clinical trial at 10 a.m. ET on Monday.

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