NEW YORK (TheStreet) -- Shares of Brainstorm Cell Therapeutics (BCLI) soared 20.88% to $4.69 on higher-than-average volume in morning trading Wednesday ahead of the biotech company's data release on Monday.
Brainstorm intends to release the final results from its Phase 2a trial of its stem cell therapy NurOwn on Monday. The company describes NurOwn as an "autologous, adult stem cell therapy technology" designed to treat ALS, also known as Lou Gehrig's Disease.
The company will host a conference call on Monday to discuss the results.
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"We are very excited to share the final results of this study," said Brainstorm's CEO Tony Fiorino, MD, PhD, in a company statement. "Professor Karussis presented a very positive and well-received interim analysis of this study at the Joint Congress of European Neurology in June 2014, and the final results include data from several additional subjects and analyses conducted by our independent statisticians."
"The interim analysis of this study, and results of our prior phase 1/2 study, have shown that a single dose of NurOwn™ is safe and can provide clinically meaningful benefits to ALS patients, such as a reduction in the rate of progression, and in some patients, actual improvements in function," Fiorino continued. "The final results will extend these findings and allow us to move forward with a presentation and publication strategy so that we may share these important data with our medical and scientific colleagues."
More than 1.5 million shares had changed hands as of 10:26 a.m., compared to the daily average volume of 95,025.BCLI data by YCharts