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Pluristem Therapeutics Inc. (NASDAQ: PSTI), released today a report from Dutton Associates who continues coverage of Pluristem Therapeutics (Nasdaq:PTSI) reiterating its Speculative Buy rating and a 12-month $6.50 price target. The 10-page report by Dutton senior analyst Denise T. Resnik, MS is available at www.duttonassociates.com, and at First Call, Bloomberg, Capital IQ, FactSet, Reuters, Zacks, Knobias, and other leading financial portals.
Pluristem Therapeutics is a bio-therapeutics company dedicated to the development and commercialization of cell therapy products for the treatment of a variety of severe degenerative, ischemic, and autoimmune disorders. The cell therapy products result from the Company's proprietary system to expand mesenchymal stem cells (MSCs) from post-birth human placenta. The Company's primary therapeutic area under investigation using these cells is critical limb ischemia (CLI) secondary to peripheral vascular disease (PAD). It is also investigating the use of these cells in stroke, multiple sclerosis, and inflammatory bowel disease, and, in conjunction with hematopoietic stem cells (HSCs) from human umbilical cord blood, for bone marrow transplantation (BMT). Pluristem believes its PLX (PLacenta eXpanded) cells are also potentially useful for other indications such as organ transplantation, orthopedic injuries, and the prevention of radiation sickness. Validation of Pluristem's technology is still in the preclinical stage, and we continue to believe that Pluristem has significant challenges to overcome before it can be successful. Its major challenge is to fully validate its hypothesis that the three-dimensional expansion of placental-derived mesenchymal stem cells in its PluriX(TM) 3D Bioreactor System produces therapeutic products with clear clinical benefits over existing therapies. In addition, the Company seeks to achieve 12-month milestones it has set for itself, including the initiation of its first Phase I clinical trial before the end of 2008 and the completion of the trial showing positive results.
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CitiGroup Inc. (NYSE: C), down 2% on 29 million shares, yesterday announced the expansion of its proprietary managed accounts connectivity hub, CitiConnect for Separately Managed Accounts (SMAs). With this expanded connectivity, CitiConnect for SMAs, developed by Citi's Securities and Fund Services business, becomes the most comprehensive hub for straight-through-processing of reconciliation, trading and allocations in the managed accounts industry.
SpongeTech Delivery Systems, Inc. (OTCBB: SPNG), down 1% on 2 million shares, announced yesterday that its CEO and President, Michael Metter, will be interviewed today on Steve Crowley's American Scene Radio Show at 10:42 a.m. EDT. The interview can be heard live on BusinessTalkRadioNetwork(R) affiliate radio stations streamed on its website, www.businesstalkradio.net . You can find local radio stations by accessing the website, as well. Mr. Metter will be scheduled for future interviews on American Scene, where he will keep listeners updated on SpongeTech(R)'s products and developments.
Microsoft Corp. (NASDAQ: MSFT), down 2% on 34 million shares, said today available from T-Mobile USA Inc., the new T-Mobile(R) Sidekick(R) powered by Danger (a subsidiary of Microsoft Corp.) introduces innovative software, services and hardware customization that improve an already celebrated mobile experience.
PRIMUS Telecommunications Group, Incorporated (OTCBB: PRTL), up 25% on .6 million shares, a global, facilities-based integrated communications services provider, yesterday announced its results for the quarter and six months ended June 30, 2008. PRIMUS reported second quarter 2008 net revenue of $236 million, up $10 million from $226 million in both the prior and year-ago quarters. The Company reported $44 million of net income for the quarter, compared to a net loss of $3 million in the prior quarter and net income of $12 million in the second quarter 2007. As a result, the Company reported basic and diluted net income per common share of $0.31 and $0.24, respectively, in the second quarter 2008, as compared to basic and diluted net loss per common share of ($0.02) in the prior quarter and basic and diluted net income per common share of $0.10 and $0.07, respectively, in the year-ago quarter.
Ambac Financial Group, Inc. (NYSE: ABK), up 50% on 32 million shares, today announced that it has settled one of its largest CDO exposures, AA Bespoke, in exchange for a final cash payment of $850 million to its sole counterparty. AA Bespoke is a $1.4 billion transaction that originally comprised AA rated CDO of ABS tranches, most of which have been downgraded to below investment grade since the inception of the transaction.
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All material herein was prepared by CRG Partners, Inc. (CRGP) based upon information believed to be reliable. The information contained herein is not guaranteed by CRGP to be accurate, and should not be considered to be all-inclusive. The companies that are discussed in this opinion have not approved the statements made in this opinion. This opinion contains forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. CRGP is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. Please consult a broker before purchasing or selling any securities viewed on http://www.thesubway.com or mentioned herein. CRGP has been compensated by third party shareholders with shares or with cash from the company on behalf of one or more of the companies mentioned in this opinion. CRGP has been compensated forty thousand shares for PSTI. CRGP intends to sell its shares. CRGP has sold approximately zero PSTI shares to date. CRGP may sell its shares for less than the target price given in this opinion. In addition to any compensation mentioned above, additional compensation can be equal to ten percent of any newly issued or registered securities of the profiled companies. CRGP and its web site operates under a license from Capital Research Group, Inc., TheSUBWAY.com Inc. and One Source Solutions Inc. (Licensors) and CRGP is not the agent of any of the Licensors and CRGP is solely responsible for all statements made herein. CRGP's Licensors, affiliates, officers, directors and employees own shares and intend to buy and sell additional shares of the company mentioned herein and may profit in the event those shares rise in value. CRGP will not advise as to when it decides to sell and does not and will not offer any opinion as to when others should sell; each investor must make that decision based on his or her judgment of the market.
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