Why BrainStorm Cell Therapeutics Blasted 27.7% Higher Today
BrainStorm Cell Therapeutics' (NASDAQ: BCLI) stock price shot up by nearly 30% today, on the one-two punch of an encouraging metric or two in its quarterly results and an update about its most promising pipeline drug.
For BrainStorm's Q4 of 2020, the clinical-stage biotech said that its net loss deepened to $31.8 billion, from the year-ago shortfall of nearly $23.3 million. The company doesn't have revenue; however, it has accumulated a cash pile to keep funding operations -- its cash and cash equivalents stood at $37.8 million, far above the roughly $536,000 of Q4 2019.
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Source Fool.com