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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Pluristem Therapeutics Inc | NASDAQ:PSTI | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.00 | 0.99 | 1.05 | 0 | 01:00:00 |
x |
QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
o
|
TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT
|
PLURISTEM THERAPEUTICS INC.
|
(Exact name of registrant as specified in its charter)
|
Nevada
|
98-0351734
|
|
(State or other jurisdiction of incorporation or organization)
|
(IRS Employer Identification No.)
|
MATAM Advanced Technology Park, Building No. 5, Haifa, Israel 31905
|
(Address of principal executive offices)
|
+972-74-710-7171
|
(Registrant’s telephone number)
|
Large accelerated filer o | Accelerated filer x | ||
Non-accelerated filer o | Smaller reporting company o | ||
(Do not check if a smaller reporting company) |
Page
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F - 2- F - 3
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F - 4
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F - 5
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F - 6- F - 7
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F - 8 - F - 9
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F - 10 - F - 17
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INTERIM CONDENSED
CONSOLIDATED
BALANCE SHEETS
|
U.S. Dollars in thousands
|
March 31, 2013
|
June 30, 2012
|
|||||||||||
Note
|
Unaudited
|
Audited
|
||||||||||
ASSETS
|
||||||||||||
CURRENT ASSETS:
|
||||||||||||
Cash and cash equivalents
|
$ | 27,821 | $ | 9,389 | ||||||||
Short term bank deposits
|
22,960 | 21,397 | ||||||||||
Marketable securities
|
3 | 9,045 | 7,023 | |||||||||
Other accounts receivable and prepaid expenses
|
1,284 | 383 | ||||||||||
Total
current assets
|
61,110 | 38,192 | ||||||||||
LONG-TERM ASSETS:
|
||||||||||||
Long-term deposits and restricted deposits
|
789 | 1,287 | ||||||||||
Advance payment for leasehold improvements
|
113 | 2,400 | ||||||||||
Property and equipment, net
|
11,501 | 5,019 | ||||||||||
Severance pay fund
|
775 | 522 | ||||||||||
Other long term assets
|
49 | - | ||||||||||
Total
long-term assets
|
13,227 | 9,228 | ||||||||||
Total
assets
|
$ | 74,337 | $ | 47,420 |
INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS
|
U.S. Dollars in thousands
|
(*)
|
Less than $1.
|
INTERIM CONDENSED CONSOLIDATED
STATEMENTS OF
OPERATIONS
|
U.S. Dollars in thousands (except share and per share data)
|
Nine months ended March 31,
|
Three months ended March 31,
|
|||||||||||||||
2013
|
2012
|
2013
|
2012
|
|||||||||||||
Unaudited
|
Unaudited
|
Unaudited
|
Unaudited
|
|||||||||||||
Revenues
|
$ | 584 | $ | 615 | $ | 194 | $ | 230 | ||||||||
Cost of revenues
|
(18 | ) | (18 | ) | (6 | ) | (6 | ) | ||||||||
Gross profit
|
566 | 597 | 188 | 224 | ||||||||||||
Research and development expenses
|
(12,859 | ) | (9,253 | ) | (4,965 | ) | (3,421 | ) | ||||||||
Less participation by the Office of the Chief Scientist and other parties
|
1,546 | 2,432 | 3 | 511 | ||||||||||||
Research and development expenses, net
|
(11,313 | ) | (6,821 | ) | (4,962 | ) | (2,910 | ) | ||||||||
General and administrative expenses
|
(4,260 | ) | (4,836 | ) | (1,159 | ) | (1,924 | ) | ||||||||
Operating loss
|
(15,007 | ) | (11,060 | ) | (5,933 | ) | (4,610 | ) | ||||||||
Financial income, net
|
842 | 401 | 253 | 436 | ||||||||||||
Net loss for the period
|
$ | (14,165 | ) | $ | (10,659 | ) | $ | (5,680 | ) | $ | (4,174 | ) | ||||
Loss per share:
|
||||||||||||||||
Basic and diluted net loss per share
|
$ | (0.26 | ) | $ | (0.24 | ) | $ | (0.10 | ) | $ | (0.09 | ) | ||||
Weighted average number of shares used in computing basic and diluted net loss per share
|
54,507,538 | 43,585,104 | 58,358,476 | 44,328,201 |
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMP
REHE
NSIVE INCOME (LOSS)
|
U.S. Dollars in thousands
|
Nine months ended March 31,
|
Three months ended March 31,
|
|||||||||||||||
2013
|
2012
|
2013
|
2012
|
|||||||||||||
Unaudited
|
Unaudited
|
Unaudited
|
Unaudited
|
|||||||||||||
Net loss
|
$ | (14,165 | ) | $ | (10,659 | ) | $ | (5,680 | ) | $ | (4,174 | ) | ||||
Other comprehensive income, net of tax:
|
||||||||||||||||
Unrealized gain on available for sale marketable securities
|
684 | 52 | 213 | 187 | ||||||||||||
Reclassification adjustment for net loss (gain) realized in net income
|
21 | - | (2 | ) | - | |||||||||||
Total comprehensive loss
|
$ | (13,460 | ) | $ | (10,607 | ) | $ | (5,469 | ) | $ | (3,987 | ) |
INTERIM CONDENSED STATEMENTS OF CHANGES IN EQUITY (UN
AUDIT
ED)
|
U.S. Dollars in thousands (except share and per share data)
|
Common Stock
|
Additional Paid-in
|
Accumulated Other Comprehensive
|
Accumulated
|
Total Stockholders’
|
||||||||||||||||||||
Shares
|
Amount
|
Capital
|
loss
|
Deficit
|
Equity
|
|||||||||||||||||||
Balance as of July 1, 2011
|
42,443,185 | $ | (* | ) | $ | 94,375 | $ | - | $ | (50,953 | ) | $ | 43,422 | |||||||||||
Exercise of options by employees and consultants
|
23,000 | (* | ) | 14 | - | - | 14 | |||||||||||||||||
Exercise of warrants by investors and finders
|
335,286 | (* | ) | 383 | - | - | 383 | |||||||||||||||||
Stock based compensation to employees, directors
and non-employee consultants
|
1,714,704 | (* | ) | 4,689 | - | - | 4,689 | |||||||||||||||||
Other Comprehensive Income
|
- | - | - | 52 | - | 52 | ||||||||||||||||||
Net loss for the period
|
- | - | - | - | (10,659 | ) | (10,659 | ) | ||||||||||||||||
Balance as of March 31, 2012
|
44,516,175 | $ | (* | ) | $ | 99,461 | $ | 52 | $ | (61,612 | ) | $ | 37,901 |
INTERIM CONDENSED STATEMENTS OF CHANGES IN EQUITY (UNAUDITED)
|
U.S. Dollars in thousands (except share and per share data)
|
Common Stock
|
Additional Paid-in
|
Accumulated Other Comprehensive
|
Accumulated
|
Total Stockholders’
|
||||||||||||||||||||
Shares
|
Amount
|
Capital
|
Income (Loss)
|
Deficit
|
Equity
|
|||||||||||||||||||
Balance as of July 1, 2012
|
46,448,051 | $ | (* | ) | $ | 103,619 | $ | (130 | ) | $ | (65,747 | ) | $ | 37,742 | ||||||||||
Issuance of common stock and warrants related to September 2012 public offering, net of issuance costs of $2,694
|
9,200,000 | (* | ) | 34,106 | - | - | 34,106 | |||||||||||||||||
Exercise of options by employees and consultants
|
137,569 | (* | ) | 169 | - | - | 169 | |||||||||||||||||
Exercise of warrants by investors and finders
|
1,473,670 | (* | ) | 1,679 | - | - | 1,679 | |||||||||||||||||
Stock based compensation to employees, directors and non-employee consultants
|
1,415,230 | (* | ) | 2,383 | - | - | 2,383 | |||||||||||||||||
Stock based compensation to contractor
|
- | - | 1,400 | - | - | 1,400 | ||||||||||||||||||
Other Comprehensive Income
|
- | - | - | 705 | - | 705 | ||||||||||||||||||
Net loss for the period
|
- | - | - | - | (14,165 | ) | (14,165 | ) | ||||||||||||||||
Balance as of March 31, 2013
|
58,674,520 | $ | (* | ) | $ | 143,356 | $ | 575 | $ | (79,912 | ) | $ | 64,019 |
INTERIM CONDENSED
CONSOLIDATED
STATEMENTS OF CASH
FLOWS
|
U.S. Dollars in thousands
|
Nine months ended March 31,
|
||||||||
2013
|
2012
|
|||||||
Unaudited
|
Unaudited
|
|||||||
CASH FLOWS FROM OPERATING ACTIVITIES:
|
||||||||
Net loss
|
$ | (14,165 | ) | $ | (10,659 | ) | ||
Adjustments to reconcile net loss to net cash used in operating activities:
|
||||||||
Depreciation
|
592 | 312 | ||||||
Stock-based compensation to employees, directors and non-employee consultants
|
2,105 | 3,533 | ||||||
Stock compensation to investor relations consultants
|
278 | 1 | ||||||
Increase in other accounts receivable
|
(515 | ) | (1,586 | ) | ||||
Decrease (increase) in prepaid expenses
|
(448 | ) | 142 | |||||
Decrease in trade payables
|
209 | 375 | ||||||
Increase in other accounts payable and accrued expenses
|
1,612 | 52 | ||||||
Increase (decrease) in deferred revenues
|
(584 | ) | 4,385 | |||||
Increase (decrease) in advance payment from United Therapeutics
|
(1,009 | ) | 1,509 | |||||
Linkage differences and increase (decrease) interest on short and long-term deposit and restricted lease deposit
|
(158 | ) | (265 | ) | ||||
Accretion of discount, amortization of premium and changes in accrued interest from marketable securities
|
169 | (174 | ) | |||||
Loss from sale of investments of available for sale marketable securities
|
21 | - | ||||||
Accrued severance pay, net
|
19 | 30 | ||||||
Net cash used in operating activities
|
$ | (11,874 | ) | $ | (2,345 | ) | ||
CASH FLOWS FROM INVESTING ACTIVITIES:
|
||||||||
Purchase of property and equipment
|
$ | (3,247 | ) | $ | (1,313 | ) | ||
Investment in short-term deposits
|
(1,408 | ) | (21,627 | ) | ||||
Repayment (investment) in long-term deposits
|
489 | (526 | ) | |||||
Repayment of long-term restricted deposit
|
12 | 6 | ||||||
Proceeds from sale and redemption of available for sale marketable securities
|
1,030 | 750 | ||||||
Investment in available for sale marketable securities
|
(2,537 | ) | (6,566 | ) | ||||
Net cash used in investing activities
|
$ | (5,661 | ) | $ | (29,276 | ) |
INTERIM CONDENSED
CONSOLIDATED STATEMENTS OF CASH FLOWS
|
U.S. Dollars in thousands
|
Nine months ended March 31,
|
||||||||
2013
|
2012
|
|||||||
Unaudited
|
Unaudited
|
|||||||
CASH FLOWS FROM FINANCING ACTIVITIES:
|
||||||||
Issuance of common stock and warrants, net of issuance costs
|
$ | 34,106 | $ | - | ||||
Exercise of warrants and options
|
1,861 | 397 | ||||||
Net cash provided by financing activities
|
$ | 35,967 | $ | 397 | ||||
Increase (decrease) in cash and cash equivalents
|
18,432 | (31,224 | ) | |||||
Cash and cash equivalents at the beginning of the period
|
9,389 | 42,829 | ||||||
Cash and cash equivalents at the end of the period
|
$ | 27,821 | $ | 11,605 |
(a) Supplemental disclosure of cash flow activities:
|
||||||||
Cash paid during the period for:
|
||||||||
Taxes paid due to non-deductible expenses
|
$ | 15 | $ | 12 |
(b) Supplemental disclosure of non-cash activities:
|
||||||||
Purchase of property and equipment on credit
|
$ | 1,738 | $ | 100 | ||||
Stock based compensation to contractor
|
$ | 1,400 | $ | 1,155 |
NOTES TO INTERIM CONDENSED CONSOLIDATED FIN
AN
CIAL STATEMENTS
|
U.S. Dollars in thousands (except per share amounts)
|
|
a.
|
Pluristem Therapeutics Inc., a Nevada corporation, was incorporated on May 11, 2001. Pluristem Therapeutics Inc. has a wholly owned subsidiary, Pluristem Ltd. (the “Subsidiary”), which is incorporated under the laws of the State of Israel. Pluristem Therapeutics Inc. and the Subsidiary are referred to as the “Company”.
|
|
b.
|
The Company is a bio-therapeutics company developing standardized cell therapy products from human placenta for the treatment of multiple disorders. The Company has sustained operating losses and expects such losses to continue in the foreseeable future. The Company's accumulated losses aggregated to $79,912 through March 31, 2013 and the Company incurred a net loss of $14,165 for the nine months ended March 31, 2013. There is no assurance that profitable operations, if ever achieved, could be sustained on a continuing basis.
|
NOTE 2:- SIGNIFICANT ACCOUNTING POLICIES
|
|
a.
|
Unaudited Interim Financial Information
|
|
Operating results for the nine months ended March 31, 2013 are not necessarily indicative of the results that may be expected for the year ending June 30, 2013. For further information, reference is made to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended June 30, 2012.
|
|
b.
|
Fair value of financial instruments:
|
|
The carrying amounts of the Company's financial instruments, including cash and cash equivalents, available-for-sale marketable securities, short-term deposits, trade payable and other accounts payable and accrued liabilities, approximate fair value because of their generally short term maturities.
|
|
The Company accounts for certain assets and liabilities at fair value under ASC 820, “Fair Value Measurements and Disclosures.” Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. As a basis for considering such assumptions, ASC 820 establishes a three-tier value hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value:
|
NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
|
U.S. Dollars in thousands (except per share amounts)
|
NOTE 2:- SIGNIFICANT ACCOUNTING POLICIES (CONT.)
|
c.
Derivative financial instruments
|
|
d.
|
Impact of recently issued accounting standards:
|
NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
|
U.S. Dollars in thousands (except per share amounts)
|
March 31, 2013
|
June 30, 2012
|
|||||||||||||||||||||||||||||||
Amortized cost
|
Gross
unrealized
gain
|
Gross
unrealized
loss
|
Fair
value
|
Amortized cost
|
Gross
unrealized
gain
|
Gross
unrealized
loss
|
Fair
value
|
|||||||||||||||||||||||||
Available-for-sale - matures within one year:
|
||||||||||||||||||||||||||||||||
Stock and index linked notes
|
$ | 1,341 | $ | 228 | $ | (17 | ) | $ | 1,552 | $ | 1,264 | $ | 57 | $ | (56 | ) | $ | 1,265 | ||||||||||||||
Government debentures – fixed interest rate
|
380 | 18 | - | 398 | 57 | - | - | 57 | ||||||||||||||||||||||||
Corporate debentures – fixed interest rate
|
679 | 39 | - | 718 | 303 | 2 | (2 | ) | 303 | |||||||||||||||||||||||
$ | 2,400 | $ | 285 | $ | (17 | ) | $ | 2,668 | $ | 1,624 | $ | 59 | $ | (58 | ) | $ | 1,625 | |||||||||||||||
Available-for-sale - matures after one year through five years:
|
||||||||||||||||||||||||||||||||
Government debentures – fixed interest rate
|
1,114 | 40 | (3 | ) | 1,151 | 1,417 | 12 | (42 | ) | 1,387 | ||||||||||||||||||||||
Corporate debentures – fixed interest rate
|
3,826 | 192 | (5 | ) | 4,013 | 2,829 | 20 | (57 | ) | 2,792 | ||||||||||||||||||||||
$ | 4,940 | $ | 232 | $ | (8 | ) | $ | 5,164 | $ | 4,246 | $ | 32 | $ | (99 | ) | $ | 4,179 | |||||||||||||||
Available-for-sale - matures after five years through ten years:
|
||||||||||||||||||||||||||||||||
Government debentures – fixed interest rate
|
723 | 46 | - | 769 | 467 | - | (23 | ) | 444 | |||||||||||||||||||||||
Corporate debentures – fixed interest rate
|
407 | 37 | - | 444 | 816 | 3 | (44 | ) | 775 | |||||||||||||||||||||||
$ | 1,130 | $ | 83 | $ | - | $ | 1,213 | $ | 1,283 | $ | 3 | $ | (67 | ) | $ | 1,219 | ||||||||||||||||
$ | 8,470 | $ | 600 | $ | (25 | ) | $ | 9,045 | $ | 7,153 | $ | 94 | $ | (224 | ) | $ | 7,023 |
Less than 12 months
|
12 months or greater
|
|||||||||||||||
Fair Value
|
Gross
unrealized loss
|
Fair Value
|
Gross
unrealized loss
|
|||||||||||||
As of March 31, 2013
|
$ | 509 | $ | (16 | ) | $ | 214 | $ | (9 | ) | ||||||
As of June 30, 2012
|
$ | 4,127 | $ | (224 | ) | $ | - | $ | - |
NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
|
U.S. Dollars in thousands (except per share amounts)
|
March 31, 2013
|
June 30, 2012
|
|||||||||||||||||||||||
Level 1
|
Level 2
|
Level 3
|
Level 1
|
Level 2
|
Level 3
|
|||||||||||||||||||
Marketable securities
|
$ | 5,049 | $ | 3,996 | $ | - | $ | 4,181 | $ | 2,842 | $ | - | ||||||||||||
Derivatives
|
- | 179 | - | - | (138 | ) | - | |||||||||||||||||
Total
|
$ | 5,049 | $ | 4,175 | $ | - | $ | 4,181 | $ | 2,704 | $ | - |
NOTE 5: - COMMITMENTS AND CONTINGENCIES
|
Commitments and contingencies that changed during the nine months ended March 31, 2013 include the following:
|
NOTE 6: - SHARE CAPITAL AND STOCK OPTIONS
|
|
a.
|
As part of the agreement for building the new Company's facility with Biopharmax Group Ltd. ("Biopharmax"), the Company issued 1,500,000 shares of common stock to Biopharmax during fiscal year 2012. Total consideration from selling the shares amounted to $5,071.
|
|
b.
|
From July 2012 through March 2013, a total of 718,213 warrants were exercised via a “cashless” manner, resulting in the issuance of 446,423 shares of common stock to investors of the Company. The Company has a commitment to issue an additional 75 shares of common stock to one of its shareholders. In addition, 1,027,247 warrants were exercised and resulted in the issuance of 1,027,247 shares of common stock to investors of the Company. The aggregate cash consideration received was $1,679.
|
|
c.
|
On September 19, 2012, the Company closed a firm commitment underwritten public offering of 8,000,000 units, at a purchase price of $4.00 per unit, with each unit consisting of one share of the Company's common stock and one warrant to purchase 0.35 shares of common stock, at a purchase price of $5.00 per share. The warrants sold in the offering became exercisable on March 19, 2013 and expire on September 19, 2017. The Company has also granted the underwriters a 30-day option to purchase up to 1,200,000 shares of common stock and/or warrants to purchase up to 420,000 shares of common stock. As of September 24, 2012 the underwriters fully exercised their option. The aggregate net proceeds to the Company from the offering, including from the exercise in full of the option, were $34,106, before the exercise of any warrants (which has not yet occurred) and after deducting underwriting commissions and discounts and offering expenses of the Company.
|
NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
|
U.S. Dollars in thousands (except per share amounts)
|
|
d.
|
Options, warrants, restricted stock and restricted stock units to employees, directors and consultants:
|
|
1.
|
Options to employees and directors:
|
Nine months ended March 31, 2013
|
||||||||||||||||
Number
|
Weighted Average Exercise Price
|
Weighted Average Remaining Contractual Terms (in years)
|
Aggregate Intrinsic Value Price
|
|||||||||||||
Options outstanding at beginning of period
|
2,082,172 | $ | 3.87 | |||||||||||||
Options exercised
|
(110,068 | ) | 1.27 | |||||||||||||
Options outstanding at end of the period
|
1,972,104 | $ | 4.01 | 4.22 | $ | 1,083 | ||||||||||
Options exercisable at the end of the period
|
1,972,104 | $ | 4.01 | 4.22 | $ | 1,083 | ||||||||||
Options vested
|
1,972,104 | $ | 4.01 | 4.22 | $ | 1,083 |
NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
|
U.S. Dollars in thousands (except per share amounts)
|
|
d.
|
Options, warrants, restricted stock and restricted stock units to employees,
directors and consultants (cont.):
|
|
2.
|
Options and warrants to non-employees:
|
Nine months ended March 31, 2013
|
||||||||||||||||
Number
|
Weighted Average Exercise Price
|
Weighted Average Remaining Contractual Terms (in years)
|
Aggregate Intrinsic Value Price
|
|||||||||||||
Options and warrants outstanding at beginning of period
|
382,000 | $ | 3.86 | |||||||||||||
Options and warrants exercised
|
(63,500 | ) | 1.18 | |||||||||||||
Options and warrants outstanding at end of the period
|
318,500 | $ | 4.40 | 4.32 | $ | 436 | ||||||||||
Options and warrants exercisable at the end of the period
|
312,500 | $ | 4.48 | 4.24 | $ | 417 | ||||||||||
Options and warrants vested
|
318,500 | $ | 4.40 | 4.32 | $ | 436 |
Nine months ended March 31,
|
Three months ended March 31,
|
|||||||||||||||
2013
|
2012
|
2013
|
2012
|
|||||||||||||
Research and development expenses
|
$ | - | $ | 19 | $ | - | $ | - | ||||||||
General and administrative expenses
|
24 | 27 | 3 | 12 | ||||||||||||
$ | 24 | $ | 46 | $ | 3 | $ | 12 |
NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
|
U.S. Dollars in thousands (except per share amounts)
|
|
d.
|
Options, warrants, restricted stock and restricted stock units to employees,
directors and consultants (cont.):
|
|
3.
|
Restricted stock and restricted stock units to employees and directors:
|
Number
|
||||
Unvested at the beginning of period
|
2,085,276 | |||
Granted
|
13,000 | |||
Forfeited
|
(81,563 | ) | ||
Vested
|
(1,279,502 | ) | ||
Unvested at the end of the period
|
737,211 | |||
Expected to vest after March 31, 2013
|
724,178 |
Nine months ended March 31,
|
Three months ended March 31,
|
|||||||||||||||
2013
|
2012
|
2013
|
2012
|
|||||||||||||
Research and development expenses
|
$ | 573 | $ | 845 | $ | 92 | $ | 362 | ||||||||
General and administrative expenses
|
1,299 | 2,462 | 270 | 1,172 | ||||||||||||
$ | 1,872 | $ | 3,307 | $ | 362 | $ | 1,534 |
|
Future expenses related to restricted stock and restricted stock units granted to employees and directors for an average time of approximately two years are $468.
|
NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
|
U.S. Dollars in thousands (except per share amounts)
|
|
d.
|
Options, warrants, restricted stock and restricted stock units to employees,
directors and consultants (cont.):
|
|
4.
|
Restricted stock and restricted stock units to consultants:
|
Number
|
||||
Unvested at the beginning of period
|
66,000 | |||
Granted
|
123,206 | |||
Forfeited
|
(21,978 | ) | ||
Vested
|
(135,728 | ) | ||
Unvested at the end of the period
|
31,500 | |||
Expected to vest after March 31, 2013
|
31,500 |
Nine months ended March 31,
|
Three months ended March 31,
|
|||||||||||||||
2013
|
2012
|
2013
|
2012
|
|||||||||||||
Research and development expenses
|
$ | 209 | $ | 181 | $ | 55 | $ | 68 | ||||||||
General and administrative expenses
|
278 | 1 | - | - | ||||||||||||
$ | 487 | $ | 182 | $ | 55 | $ | 68 |
·
|
the expected development and potential benefits from our products in treating various medical conditions,
|
·
|
the ability of our PLX cells locally to treat systemic diseases and potentially obviate the need to administer the drugs intravenously,
|
·
|
our expectations regarding our short and long-term capital requirements and sufficiency of our capital resources,
|
·
|
our plans to raise additional funding, including non-dilutive funding and governmental grants,
|
·
|
the success of our plans to develop in house manufacturing capacity of clinical grade PLX cells in commercial quantities and control all of our proprietary manufacturing processes,
|
·
|
the expansion of our relationships with research and clinical institutions as well as collaboration and entering into out-licensing agreements with other companies, and
|
·
|
information with respect to any other plans and strategies for our business.
|
31.1*
|
Rule 13a-14(a) Certification of Chief Executive Officer.
|
31.2*
|
Rule 13a-14(a) Certification of Chief Financial Officer.
|
32.1**
|
Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350.
|
32.2**
|
Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350.
|
101 **
|
The following materials from our Quarterly Report on Form 10-Q for the quarter ended March 31, 2013 formatted in XBRL (eXtensible Business Reporting Language): (i) the Consolidated Balance Sheets, (ii) the Consolidated Statements of Operations, (iii) the Consolidated Statements of Comprehensive Income (Loss), (iv) the Statements of Changes in Equity, (v) the Consolidated Statements of Cash Flows, and (vi) the Notes to Consolidated Financial Statements, tagged as blocks of text and in detail.
|
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