Considering today is the last trading day of the year, and BrainStorm Cell Therapeutics Inc. (NASDAQ:BCLI) is one of the market’s trending tickers of the day, I think it’s safe to say that the New Jersey-based company deserves a round of applause.
The Company
Headquartered in Hackensack, New Jersey, BrainStorm Cell Therapeutics is a biotech company that focuses primarily on developing – and perfecting – stem cell therapies for a number of neurodegenerative diseases, like Huntington’s Disease (which affects roughly one person in every 10,00 in the U.S), Multiple Sclerosis (roughly 400,000 people suffer from MS in the U.S.), and Parkinson’s Disease (roughly 60,000 Americans are diagnosed with the long-time degenerative disease every year).
BrainStorm Cell Therapeutics has had a successful year, from announcing that it will be presenting at the 10th Annual Biotech Showcase, which will be held at the Hilton San Francisco Union Square on January 8th through to January 10th. But, why did the stock increase today? Just days before the world rings in 2018? Well, it’s most likely due to the fact that the company sent out a letter to its shareholders today, which had a very positive theme throughout the entire letter: 2017 was a great year for BrainStorm.
The Letter
On Friday, BrainStorm sent out a letter to its “valued shareholders,” disclosing that 2017 was an “extraordinary success” for the company.
Going into detail, BrainStorm Cell Therapeutics stated that one of its accomplishments this year was enrolling the first patients in the U.S. in Phase 3 clinical trial of NurOwn, which is a trial that looks at the treatment of amyotrophic lateral sclerosis.
Further, the company stated in the letter that, despite a few minor roadblocks, it met and surpassed all of its goals this year in regards to manufacturing and product development.
The Stock
On Friday, at the time of writing, Brainstorm Cell Therapeutics is trading at $3.93, which puts the stock up $0.90, or 29.70%.
It will be interesting to see if the biotech company can keep this pace up, and meet all of its expectations for 2018. Check back in January, and we’ll do our best to update you on the direction BrainStorm Cell Therapeutics is heading in!
Featured Image: twitter
