Full Press Release Details
Reverse Stock Split Effective Today
to Trade Under the New Symbol PSTI
YORK--(BUSINESS WIRE)--Pluristem Therapeutics Inc. (OTCBB:PSTI.OB) (DAX:PJT),
bio-therapeutics Company dedicated to the commercialization of non-personalized
(allogeneic) cell therapy products for a variety of malignant, ischemic and
autoimmune disorders, announced today that its previously disclosed two hundred
for one reverse stock split has become effective. The Company's name was also
changed from Pluristem Life Systems, Inc. to Pluristem Therapeutics Inc.
Pluristem's shares are now trading on a reverse split-adjusted basis on the OTC
Bulletin Board under the symbol "PSTI.OB", which replaces the previous symbol
"PLRS.OB". The reverse stock split is made in relation to Pluristem's
application to list its shares on the NASDAQ Capital Market and to broaden
the availability of its common stock to both institutional and individual
reverse split reduces the number of shares of Pluristem's outstanding common
stock from approximately 1.3 billion to approximately 6.5 million. The exercise
price and the number of shares of common stock issuable under Pluristem's
outstanding warrants and options have been proportionately adjusted to reflect
the reverse stock split. Fractional shares created as a result of the stock
split will be rounded up to the next whole share.
Therapeutics, Inc. is a Company dedicated to the commercialization of
non-personalized (allogeneic) stem cell therapy products for the treatment
numerous severe degenerative, malignant and autoimmune disorders. The Company's
first product, PLX-I, is directed at resolving the global shortfall of matched
tissue for bone marrow transplantation (BMT) by improving the engraftment of
hematopoietic stem cells (HSCs) contained in umbilical cord blood (UCB).
products are derived from mesenchymal stromal cells (MSCs) obtained from the
placenta and not from embryonic stem cells. They are expanded in the Company's
proprietary PluriXTM
bioreactor that imitates the natural microstructure of bone marrow and does
require supplemental growth factors, cytokines or other exogenous materials.
Pluristem believes the resultant expanded cells, termed PLX cells, are
multi-potent and able to differentiate into a variety of cell types as well
being immune-privileged to protect the recipient from immunological reactions
that often accompany transplantation.
has offices in the USA with research and manufacturing facilities in Israel.
more information, please visit our website at www.pluristem.com,
content of which is not part of this press release.
press release contains forward-looking statements within the meaning of the
"safe harbor" provisions of the Private Securities Litigation Reform Act of
and federal securities laws. These forward-looking statements are based on
current expectations of the management of Pluristem only, and are subject to
number of factors and uncertainties that could cause actual results to differ
materially from those described in the forward-looking statements. For example,
when we speak about our application to list our shares on the NASDAQ Capital
Market, we are using a forward-looking statement. We may not be approved for
listing on NASDAQ. The following factors, among others, could cause actual
results to differ materially from those described in the forward-looking
statements: changes in technology and market requirements; our technology may
not be validated as we progress further and our methods may not be accepted
the scientific community; we may be unable to retain or attract key employees
whose knowledge is essential to the development of our products; unforeseen
scientific difficulties may develop with our process; results in the laboratory
may not translate to equally good results in real surgical settings; our patents
may not be sufficient; our products may harm recipients; changes in legislation;
inability to timely develop and introduce new technologies, products and
applications; loss of market share and pressure on pricing resulting from
competition, which could cause the actual results or performance of Pluristem
differ materially from those contemplated in such forward-looking statements.
Except as otherwise required by law, Pluristem undertakes no obligation to
publicly release any revisions to these forward-looking statements to reflect
events or circumstances after the date hereof or to reflect the occurrence
unanticipated events. For a more detailed description of the risk and
uncertainties affecting Pluristem, reference is made to Pluristem's reports
filed from time to time with the Securities and Exchange Commission.
Prather, 303-883-4954
Corporate Development
Yanay, 972-74-710-7171