Ethiopian Review

Cell Therapeutics (NASDAQ:CTIC) is trading 2% higher (up $0.03 to $1.53) today on volume of 2,195,770 shares. The stock has traded within a 52-week range of $0.05 and $2.23.

Cell Therapeutics is currently above its 200-day moving average of $0.74 and should find resistance at its 50-day moving average of $1.53.

The FDA is expected to come out with a Fast Track decision on Pixantrone Friday.

On August 31, CTIC, which is a leading developer of adult stem cell technologies and therapeutics in Isarael, announced that it has entered into an agreement with Protein Production Services Ltd. a leading manufacturing contractor, in order to start Good Manufacturing Practice production of its stem cell therapeutic product. The clinical grade product will be used in pre-clinical safety for the companys innovative therapy for Amyotrophic Lateral Sclerosis. BrainStorm Cell Therapeutics Inc. is an emerging company developing adult stem cell therapeutic products, derived from autologous bone marrow cells, for the treatment of neurodegenerative diseases.

“We are very excited that we are moving into this phase of product development with a highly-experienced contractor that will enable us to move rapidly ahead with the final stages of our ALS pre-clinical program,” said Rami Efrati, CEO of BrainStorm Cell Therapeutics. “As we announced on August 24 after securing new funding, BrainStorm now has both the financing and the production capabilities to achieve our goal of reaching human clinical studies in the coming year,” he added.