RAY DIRKS Research: Recommends PSTI Update Dec 2, 2010 by Ray Dirks

RAY DIRKS Research: Recommends PSTI December 2, 2010 by Ray Dirks

Thoughts from my attendance at Pluristem’s Presentation during Maxim Conference in follow-up Report dated December 2, 2010.

December 2, 2010
By Ray Dirks
RAY DIRKS Research reiterates a strong buy recommendation at $1.24 per share of the common Stock of Pluristem Therapeutics (NASDAQ – PSTI), a cell therapy company which obtains its cells from the placenta, or after-birth, which comes after the baby’s birth. The Company’s PLX-PAD cell product is in clinical trials for vascular insufficiency of the legs, a common complication of diabetes and heavy smoking, where there is not enough blood getting to the lower legs and feet, resulting in, non-healing ulcers, and amputations. In Previous trials, PLX-PAD cells were found to be safe and potentially effective in treating these disorders.

I was in attendance at Pluristem’s presentation during the Maxim Conference held on November 18, 2010 at the Grand Hyatt in New York. After reading the Company’s press release of November 29 and attending the presentation, I am left with the impression that Pluristem’s next clinical trial involving PLX-PAD could be a pivotal, phase III trial and, therefore, the last trial the Company will need to conduct prior to commercializing the product. Most Pharmaceutical companies use Phase II trials to confirm the dose of their product for their Phase III trials. However Pluristem already knows what dose of their PLX-PAD cells to use from their previous Phase I trials where the dosing of patients was completed this fall. If a pivotal, Phase III trial is conducted by the company, the PLX- PAD could be commercialized as early as 2013, accordingly, the reiteration of my recommendation.

Pluristem Therapeutics provides the solution to the embryonic stem cell controversy since Pluristem’s cells are not embryonic – in fact, Pluristem does not harm or even touch the donor to obtain its cells. Pluristem Therapeutics gets its cells from what has been designated as medical waste until now. Pluristem grows its cells in a fashion that is protected by patents. The cells can be given “off-the-shelf” without any matching needed between Pluristem Therapeutics’ cells and the patient receiving the cells.
Once injected, Pluristem’s cells, called PLX (Placental eXpanded) cells, respond to signals sent from injured tissue to secrete a mixture of anti-inflammatory and new-blood vessel forming proteins that treats the injury. Because of the way Pluristem Therapeutics’ cells work; there is broad applicability to using PLX cells for a wide variety of diseases and injuries such as vascular disease, pain reduction, Crohn’s disease, stroke, and the complications of Diabetes.

Pluristem Therapeutics – PSTI (NASDAQ)

Price Target – 1 year: $6.00 2 years $10.00

Pluristem is recommended by RAY DIRKS Research for all of the reasons out lined in this report, plus the high probability of success in achieving several significant milestones in the near future, which include the following:

First: Regulatory approvals (USA or Europe) of protocols, and permission to begin Phase II/III studies for using PLX-PAD cells in critical limb ischemia (CLI)

Second: Pipeline of products for the use of Pluristem Therapeutics’ PLX cells

Three: Off the shelf product with attractive gross margins puts the company in a position to inter into a potential collaboration with the large pharmaceutical companies. The PAD annual market is estimated at over $ 5 Billion and attracts the interest of large Pharmaceutical companies.

Four: Pluristem recently announced a $5.25 million financing that gives them a solid balance sheet for operations. Effective production process support low burn rate, the company also received 5 consecutive years’ government grants for Novel Technologies. The 2010 grant was in the amount of $2.5 million.

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