About a month and a half ago, Brainstorm Cell Therapeutics Inc. (OTC:BCLI) nearly doubled in a matter of two days. Back then, we pointed out traders may be getting ahead of themselves, and indeed the price has been slowly slipping back down since then.
Yesterday, BCLI lost 2.38% and closed at $0.41 after 812 thousand shares had changed hands.
The price has been very volatile and that’s hardly surprising, keeping in mind that the company is engaged in the development of stem cell products.
It is an exciting field and one with a lot of potential. On top of that, the company seems in a relatively good financial position. At the same time it is clear BCLI is still not at a stage where it can start making money and sustain its business from revenues.
In the past month BCLI has tried to show they make business and have been actively updating shareholders.[BANNER]
On Jul. 18, the company announced it had signed a MOU with Massachusetts General Hospital and University of Massachusetts Medical School to conduct Human Clinical Trials. It doesn’t take an expert to recognize the importance of this stage and the PR brought significant volume that session.
Later, on Jul. 22, BCLI entered into an agreement with PharmaNet to assist in the development of the protocol and IND file needed for the FDA’s approval of the human clinical trials in the U.S. Last month, the company also managed to settle things with the former CEO Abraham Efrati.
A significant development could bring back high volumes and higher prices, but until something like that is announced BCLI may continue to struggle to keep the current price level.
