Pluristem Therapeutics (NASDAQ:PLUR) Inc. shares have reached a 52-week low, dipping to $4.11, as the biotechnology firm faces a challenging market environment. With a market capitalization of $23.12 million and a beta of 1.63, the company maintains strong liquidity with a current ratio of 5.9, according to InvestingPro data. This latest price level reflects a significant downturn from the company’s performance over the past year, with the stock experiencing a 1-year change of -10.27%. Despite recent challenges, the company has shown impressive revenue growth of 135% in the latest reporting period. Investors are closely monitoring Pluristem’s strategic moves and potential catalysts that could influence the stock’s recovery and future trajectory, with the next earnings report scheduled for February 7, 2025. InvestingPro subscribers have access to 8 additional key insights about Pluristem’s financial health and growth prospects.
In other recent news, Pluri Inc. faced a potential delisting from the Nasdaq due to an equity shortfall but has since regained compliance with the exchange’s minimum stockholders’ equity requirement. The biotechnology firm submitted a compliance plan within the 45-day deadline set by Nasdaq and was subsequently granted an extension to rectify the shortfall. This successful resolution allows Pluri Inc. to maintain its listing on the Nasdaq Capital Market.
Additionally, Pluri Inc. has entered a proof of concept agreement with an undisclosed international agriculture corporation, aiming to leverage its proprietary 3D cell expansion technology to boost the global vegetable supply. Furthermore, there has been a change in the executive team, with CFO Chen Franco-Yehuda resigning and Liat Zalts stepping in as her successor.
In terms of funding, Pluri’s subsidiary, Ever After Foods Ltd., has secured $10 million to enhance its cultivated food production technology. The company continues to receive funding from the U.S. National Institute of Allergy and Infectious Diseases for its cell therapy PLX-R18 and has secured a U.S. patent for a novel method of expanding immune cells. Lastly, Pluri has entered a manufacturing agreement with Remedy Cell Ltd. for a drug candidate aimed at treating Idiopathic Pulmonary Fibrosis.
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