Pluristem: Surges after securing 50 mln euros to develop COVID-19 treatment

Pluri

24/04/2020 12:41

** U.S.-listed shares of biotech co  PSTI.O  up 16% to $12
premarket
    ** Co secures 50 mln euros ($53.9 mln) non-dilutive
financing from European Investment Bank to support its clinical
developments of COVID-19 treatment and other drugs in its
pipeline
    ** Financing to be given in three tranches, with the first
tranche consisting of 20 million euros ($21.6 mln)
    ** Co says European Investment Bank will be entitled to
receive royalties for a period of seven years starting 2024
    ** Up to Thursday's close, stock has nearly tripled this
year

 (Reporting by Dania Nadeem in Bengaluru)
 ((mailto:dania.nadeem@thomsonreuters.com))