Shares of Brainstorm Cell Therapeutics Inc. shot up 18% in premarket trade Monday, after the company said Phase II study of its treatment for Lou Gehrig’s disease met its objectives. The developer of stem cell therapeutics said a Phase 2 trial of NurOwn in patients with ALS (amyotrophic lateral sclerosis) met its primary objective by demonstrating that it was safe and well tolerated. The company said NurOwn also met several secondary endpoints of efficacy. The stock has gained 4.6% year to date through Friday, while the SPDR S&P Biotech ETF has tumbled 19% and the S&P 500 has gained 5.8%.
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