Why Is Neurodegenerative Disease-Focused Brainstorm Cell Therapeutics Stock Plunging Today?
Portfolio Pulse from Vandana Singh
Shares of Brainstorm Cell Therapeutics Inc (NASDAQ:BCLI) are plunging after the FDA raised concerns over the safety and efficacy of the company's ALS therapy, NurOwn. The FDA stated that there is insufficient evidence to support NurOwn's clinical benefit and identified a higher incidence of deaths in the treatment group. This news follows a refusal to file letter from the FDA regarding Brainstorm's marketing application for NurOwn last year.
September 25, 2023 | 3:49 pm
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Brainstorm Cell Therapeutics' stock is likely to be negatively impacted in the short term due to the FDA's concerns over the safety and efficacy of its ALS therapy, NurOwn.
The FDA's concerns over the safety and efficacy of Brainstorm's ALS therapy, NurOwn, are likely to negatively impact investor confidence in the company. This, coupled with the fact that the FDA identified a higher incidence of deaths in the treatment group, could lead to a drop in the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100