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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 |
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 3508409
|
(Address of principal executive offices)
|
011-972-74-7108600
|
(Registrant’s telephone number)
|
|
|
Large accelerated filer
☐
|
Accelerated filer
☒
|
Non-accelerated filer
☐
|
Smaller reporting company
☒
|
Emerging growth company
☐
|
Title of each class
|
Trading Symbol(s)
|
Name of each exchange on which registered
|
Common Stock, par value $0.00001
|
PSTI
|
Nasdaq Capital Market
|
Page
|
|
F - 2 - F - 3
|
|
F - 4
|
|
F - 5
|
|
F - 6 - F - 9
|
|
F - 10 - F - 11
|
|
F - 12 - F - 24
|
U.S. Dollars in thousands (except share and per share data)
|
March 31, 2019
|
June 30,
2018
|
|||||||||||
Note
|
Unaudited
|
|||||||||||
ASSETS
|
||||||||||||
CURRENT ASSETS:
|
||||||||||||
Cash and cash equivalents
|
$
|
9,535
|
$
|
8,821
|
||||||||
Short-term bank deposits
|
1,002
|
21,079
|
||||||||||
Restricted cash and short-term bank deposits
|
703
|
687
|
||||||||||
Accounts receivable from the Israeli Innovation Authority (“IIA”)
|
285
|
58
|
||||||||||
Other current assets
|
1,671
|
1,391
|
||||||||||
Total
current assets
|
13,196
|
32,036
|
||||||||||
LONG-TERM ASSETS:
|
||||||||||||
Long-term deposits and restricted bank deposits
|
391
|
383
|
||||||||||
Severance pay fund
|
872
|
846
|
||||||||||
Property and equipment, net
|
4,265
|
5,678
|
||||||||||
Other long-term assets
|
7
|
17
|
||||||||||
Total
long-term assets
|
5,535
|
6,924
|
||||||||||
Total
assets
|
$
|
18,731
|
$
|
38,960
|
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
|
U.S. Dollars in thousands (except share and per share data)
|
Nine months ended
March 31,
|
Three months ended
March 31,
|
|||||||||||||||||||
Note
|
2019
|
2018
|
2019
|
2018
|
||||||||||||||||
Revenues
|
$
|
54
|
$
|
50
|
$
|
-
|
$
|
-
|
||||||||||||
Cost of revenues
|
(2
|
)
|
(2
|
)
|
-
|
-
|
||||||||||||||
Gross profit
|
52
|
48
|
-
|
-
|
||||||||||||||||
Operating Expenses:
|
||||||||||||||||||||
Research and development expenses
|
(23,618
|
)
|
(18,932
|
)
|
(8,421
|
)
|
(7,481
|
)
|
||||||||||||
Less: participation by the IIA and other parties
|
2,771
|
2,235
|
594
|
1,099
|
||||||||||||||||
Research and development expenses, net
|
(20,847
|
)
|
(16,697
|
)
|
(7,827
|
)
|
(6,382
|
)
|
||||||||||||
General and administrative expenses, net
|
(6,806
|
)
|
(8,349
|
)
|
(2,473
|
)
|
(2,666
|
)
|
||||||||||||
Other income
|
7
|
-
|
43
|
-
|
-
|
|||||||||||||||
Operating loss
|
(27,601
|
)
|
(24,955
|
)
|
(10,300
|
)
|
(9
,
048
|
)
|
||||||||||||
Financial income, net
|
54
|
7,810
|
222
|
7,517
|
||||||||||||||||
Net loss for the period
|
$
|
(27,547
|
)
|
$
|
(17,145
|
)
|
$
|
(10,078
|
)
|
$
|
(1,531
|
)
|
||||||||
Loss per share:
|
||||||||||||||||||||
Basic and diluted net loss per share
|
$
|
(0.24
|
)
|
$
|
(0.16
|
)
|
$
|
(0.09
|
)
|
$
|
(0.01
|
)
|
||||||||
Weighted average number of shares used in computing basic and diluted net loss per share
|
115,542,598
|
104,107,748
|
117,225,522
|
110,044,458
|
U.S. Dollars in thousands
|
Nine months ended
March 31,
|
Three months ended
March 31,
|
|||||||||||||||
2019
|
2018
|
2019
|
2018
|
|||||||||||||
Net loss
|
$
|
(27,547
|
)
|
$
|
(17,145
|
)
|
$
|
(10,078
|
)
|
$
|
(1,531
|
)
|
||||
Other comprehensive income, net:
|
||||||||||||||||
Unrealized gain on available-for-sale marketable securities, net
|
-
|
6,441
|
-
|
2,134
|
||||||||||||
Reclassification adjustment of available-for-sale marketable securities losses realized in net loss, net
|
-
|
(8,440
|
)
|
-
|
(7,512
|
)
|
||||||||||
Other comprehensive income
|
-
|
(1,999
|
)
|
-
|
(5,378
|
)
|
||||||||||
Total comprehensive loss
|
$
|
(27,547
|
)
|
$
|
(19,144
|
)
|
$
|
(10,078
|
)
|
$
|
(6,909
|
)
|
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
|
Deficit
|
Equity
|
|||||||||||||||||||
Balance as of July 1, 2017
|
96,938,789
|
$
|
1
|
$
|
217,822
|
$
|
1,999
|
$
|
(189,571
|
)
|
$
|
30,251
|
||||||||||||
Exercise of options by employees
|
9,107
|
-
|
8
|
-
|
-
|
8
|
||||||||||||||||||
Stock-based compensation to employees, directors and non-employee consultants
|
2,330,380
|
(*
|
)
|
4,895
|
-
|
-
|
4,895
|
|||||||||||||||||
Issuance of common stock under At Market Issuance Sales Agreement, net of issuance costs of $124 (Note 6a)
|
1,760,840
|
(*
|
)
|
2,412
|
-
|
-
|
2,412
|
|||||||||||||||||
Issuance of common stock, net of issuance costs of $1,405 (Note 6c)
|
9,000,000
|
(*
|
)
|
13,646
|
-
|
-
|
13,646
|
|||||||||||||||||
Exercise of warrants by investors
(Note 6d)
|
828,703
|
(*
|
)
|
1,160
|
-
|
-
|
1,160
|
|||||||||||||||||
Other comprehensive income, net
|
-
|
-
|
-
|
(1,999
|
)
|
-
|
(1,999
|
)
|
||||||||||||||||
Net loss
|
-
|
-
|
-
|
-
|
(17,145
|
)
|
(17,145
|
)
|
||||||||||||||||
Balance as of March 31, 2018
(unaudited)
|
110,867,819
|
$
|
1
|
$
|
239,943
|
$
|
-
|
$
|
(206,716
|
)
|
$
|
33,228
|
INTERIM CONDENSED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY
|
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
|
Deficit
|
Equity
|
|||||||||||||||||||
Balance as of January 1, 2018
|
109,337,556
|
$
|
1
|
$
|
236,767
|
$
|
5,378
|
$
|
(205,185
|
)
|
$
|
36,961
|
||||||||||||
Exercise of options by employees
|
4,107
|
-
|
3
|
-
|
-
|
3
|
||||||||||||||||||
Stock-based compensation to employees, directors and non-employee consultants
|
599,356
|
(*
|
)
|
1,787
|
-
|
-
|
1,787
|
|||||||||||||||||
Issuance of common stock under At Market Issuance Sales Agreement, net of issuance costs of $44 (Note 6a)
|
926,800
|
(*
|
)
|
1,386
|
-
|
-
|
1,386
|
|||||||||||||||||
Other comprehensive income, net
|
-
|
-
|
-
|
(5,378
|
)
|
-
|
(5,378
|
)
|
||||||||||||||||
Net loss
|
-
|
-
|
-
|
-
|
(1,531
|
)
|
(1,531
|
)
|
||||||||||||||||
Balance as of March 31, 2018
(unaudited)
|
110,867,819
|
$
|
1
|
$
|
239,943
|
$
|
-
|
$
|
(206,716
|
)
|
$
|
33,228
|
INTERIM CONDENSED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY
|
U.S. Dollars in thousands (except share and per share data)
|
Common Stock
|
Additional Paid-in
|
Accumulated
|
Total Stockholders’
|
|||||||||||||||||
Shares
|
Amount
|
Capital
|
Deficit
|
Equity
|
||||||||||||||||
Balance as of July 1, 2018
|
113,565,780
|
$
|
1
|
$
|
244,203
|
$
|
(215,697
|
)
|
$
|
28,507
|
||||||||||
Stock-based compensation to employees, directors and non-employee consultants
|
2,011,380
|
(*
|
)
|
3,949
|
-
|
3,949
|
||||||||||||||
Issuance of common stock under At Market Issuance Sales Agreement, and Open Market Sales Agreement, net of issuance costs of $357 (Note 6a,
6b)
|
3,724,000
|
(*
|
)
|
3,710
|
-
|
3,710
|
||||||||||||||
Exercise of options by employees and non-employee consultants
|
18,500
|
(*
|
)
|
8
|
-
|
8
|
||||||||||||||
Net loss
|
-
|
-
|
-
|
(27,547
|
)
|
(27,547
|
)
|
|||||||||||||
Balance as of March 31, 2019
(unaudited)
|
119,319,660
|
$
|
1
|
$
|
251,870
|
$
|
(243,244
|
)
|
$
|
8,627
|
INTERIM CONDENSED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY
|
U.S. Dollars in thousands (except share and per share data)
|
Common Stock
|
Additional Paid-in
|
Accumulated
|
Total Stockholders’
|
|||||||||||||||||
Shares
|
Amount
|
Capital
|
Deficit
|
Equity
|
||||||||||||||||
Balance as of January 1, 2019
|
116,809,444
|
$
|
1
|
$
|
248,359
|
$
|
(233,166
|
)
|
$
|
15,194
|
||||||||||
Stock-based compensation to employees, directors and non-employee consultants
|
492,216
|
(*
|
)
|
1,753
|
-
|
1,753
|
||||||||||||||
Issuance of common stock under Open Market Sales Agreement, net of issuance costs of $209 (Note
6b)
|
2,018,000
|
(*
|
)
|
1,758
|
-
|
1,758
|
||||||||||||||
Net loss
|
-
|
-
|
-
|
(10,078
|
)
|
(10,078
|
)
|
|||||||||||||
Balance as of March 31, 2019
(unaudited)
|
119,319,660
|
$
|
1
|
$
|
251,870
|
$
|
(243,244
|
)
|
$
|
8,627
|
U.S. Dollars in thousands
|
Nine months ended March 31,
|
||||||||
2019
|
2018
|
|||||||
CASH FLOWS FROM OPERATING ACTIVITIES:
|
||||||||
Net loss
|
$
|
(27,547
|
)
|
$
|
(17,145
|
)
|
||
Adjustments to reconcile net loss to net cash used in operating activities:
|
||||||||
Depreciation
|
1,481
|
1,512
|
||||||
Accretion of discount, amortization of premium and changes in accrued interest of marketable securities
|
-
|
11
|
||||||
Gain from sale of investments of available-for-sale marketable securities
|
-
|
(8,440
|
) | |||||
Other-than-temporary loss of available-for-sale marketable securities (see Note 3)
|
-
|
850
|
||||||
Stock-based compensation to employees, directors and non-employee consultants
|
3,949
|
4,895
|
||||||
Decrease (increase) in accounts receivable from the IIA
|
(227
|
)
|
440
|
|||||
Decrease (increase) in other current assets and other long-term assets
|
(270
|
)
|
281
|
|||||
Decrease in trade payables
|
(220
|
)
|
(13
|
)
|
||||
Increase (decrease) in other accounts payable, accrued expenses, other current liabilities and other long-term liabilities
|
(112
|
)
|
2,256
|
|||||
Decrease (increase) in interest receivable on short-term deposits
|
168
|
(319
|
)
|
|||||
Linkage differences and interest on short and long-term deposits and restricted bank deposits
|
(1
|
)
|
4
|
|||||
Accrued severance pay, net
|
(1
|
)
|
74
|
|||||
Net cash used by operating activities
|
$
|
(22,780
|
)
|
$
|
(15,594
|
)
|
||
CASH FLOWS FROM INVESTING ACTIVITIES:
|
||||||||
Purchase of property and equipment
|
$
|
(217
|
)
|
$
|
(219
|
)
|
||
Proceeds from (investment in) short-term deposits
|
19,908
|
(20,321
|
)
|
|||||
Investment in long-term deposits and restricted bank deposits
|
(6
|
)
|
-
|
|||||
Proceeds from sale of available-for-sale marketable securities
|
-
|
21,881
|
||||||
Proceeds from redemption of available-for-sale marketable securities
|
-
|
9
|
||||||
Investment in available-for-sale marketable securities
|
-
|
(1,146
|
)
|
|||||
Net cash provided by investing activities
|
$
|
19,685
|
$
|
204
|
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
|
U.S. Dollars in thousands
|
Nine months ended March 31,
|
||||||||
2019
|
2018
|
|||||||
CASH FLOWS FROM FINANCING ACTIVITIES:
|
||||||||
Proceeds related to issuance of common stock, net of issuance costs
|
$
|
3,710
|
$
|
16,058
|
||||
Exercise of warrants and options
|
8
|
1,168
|
||||||
Proceeds with respect to Israel-United States Binational Industrial
Research and Development Foundation liability |
107
|
88
|
||||||
Net cash provided by financing activities
|
$
|
3,825
|
$
|
17,314
|
||||
Increase in cash and cash equivalents and restricted cash
|
730
|
1,924
|
||||||
Cash and cash equivalents and restricted cash at the beginning of the period
|
9,508
|
4,707
|
||||||
Cash and cash equivalents and restricted cash at the end of the period
|
$
|
10,238
|
$
|
6,631
|
||||
(a) Supplemental disclosure of cash flow activities:
|
||||||||
Cash paid during the period for:
|
||||||||
Taxes paid due to non-deductible expenses
|
$
|
7
|
$
|
8
|
||||
(b) Supplemental disclosure of non-cash activities:
|
||||||||
Purchase of property and equipment on credit
|
$
|
22
|
$
|
59
|
U.S. Dollars in thousands (except share and 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” or “Pluristem”.
|
b. |
The Company is a bio-therapeutics company developing placenta-based cell therapy product candidates for the treatment of multiple ischemic and inflammatory conditions. The Company has incurred an accumulated deficit of approximately $243,244 and incurred recurring operating losses and negative cash flows from operating activities since inception. As of March 31, 2019, the Company’s total stockholders' equity amounted to $8,627.
|
NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
|
U.S. Dollars in thousands (except share and per share amounts)
|
a. |
Unaudited Interim Financial Information
|
NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
|
U.S. Dollars in thousands (except share and per share amounts)
|
b. |
Significant Accounting Policies
|
c. |
Use of estimates
|
d. |
Fair value of financial instruments
|
e . |
Derivative financial instruments
|
NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
|
U.S. Dollars in thousands (except share and per share amounts)
|
f. |
Recently Adopted Accounting Pronouncement
|
NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
|
U.S. Dollars in thousands (except share and per share amounts)
|
Nine months ended
March 31,
|
||||||||
2019
|
2018
|
|||||||
(Unaudited)
|
||||||||
Cash and cash equivalents
|
$
|
9,535
|
$
|
5,940
|
||||
Restricted cash included in Restricted cash and short-term bank deposits
|
703
|
691
|
||||||
Cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows
|
$
|
10,238
|
$
|
6,631
|
NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
|
U.S. Dollars in thousands (except share and per share amounts)
|
NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
|
U.S. Dollars in thousands (except share and per share amounts)
|
March 31, 2019 (Unaudited)
|
June 30, 2018
|
|||||||||||||||
Level 1
|
Level 2
|
Level 1
|
Level 2
|
|||||||||||||
Foreign currency derivative instruments
|
$
|
-
|
$
|
(*
|
)
|
$
|
-
|
$
|
(243
|
)
|
||||||
Total financial liabilities
|
$
|
-
|
$
|
(*
|
)
|
$
|
-
|
$
|
(243
|
)
|
a. |
As of March 31, 2019, an amount of $1,084 of cash and deposits was pledged by the Subsidiary to secure the derivatives and hedging transactions, credit line and bank guarantees.
|
b. |
Under the Law for the Encouragement of Industrial Research and Development, 1984, (the “Research Law”), research and development programs that meet specified criteria and are approved by the IIA are eligible for grants of up to 50% of the project’s expenditures, as determined by the research committee, in exchange for the payment of royalties from the sale of products developed under the program.
|
c. |
The Company was awarded a marketing grant under the "Smart Money" program of the Israeli Ministry of Economy and Industry. The program’s aim is to assist companies to extend their activities in international markets. The goal market that was chosen was Japan.
|
NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
|
U.S. Dollars in thousands (except share and per share amounts)
|
d. |
The Company was awarded an additional “Smart Money” grant of approximately $229 from Israel’s Ministry of Economy and Industry to facilitate certain marketing and business development activities with respect to its advanced cell therapy products in the Chinese market, including Hong Kong. The Israeli government granted the Company budget resources that are intended to be used to advance the Company’s product candidate towards marketing in the China-Hong Kong markets.
|
e. |
In September 2017, the Company signed an agreement with the Tel-Aviv Sourasky Medical Center (Ichilov Hospital) to conduct a Phase I/II trial of PLX-PAD cell therapy for the treatment of Steroid-Refractory Chronic Graft-Versus-Host-Disease (“GvHD”).
|
f. |
The Company currently collaborates with the New York Blood Center (“NYBC”) on preclinical studies of its placental expanded R-18 cells (“PLX-R18”) to enhance the efficacy of umbilical cord blood transplantation. The project was selected to receive a conditional award of $900 from the Israel-United States Binational Industrial Research and Development Foundation (the “BIRD Foundation”), of which an amount of $585 is a direct grant allocated to the Company. Per the terms of the project, the Company will provide the PLX-R18 cells and the NYBC will be responsible for conducting and supporting the studies. Amounts received in connection with this award are presented in “Other long-term liabilities”, as the Company does not expect to repay the liability in the next 12 months. In accordance with the agreement between the Company and NYBC, if only one party elects to proceed with the development of the product, such party shall be responsible for all repayment obligations to the BIRD Foundation for both parties, if applicable.
|
NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
|
U.S. Dollars in thousands (except share and per share amounts)
|
g. |
The Company was awarded a marketing grant of approximately $52 under the "Shalav" program of the Israeli Ministry of Economy and Industry. The grant is intended to facilitate certain marketing and business development activities with respect to the Company’s advanced cell therapy products in the U.S. market. As part of the program, the Company will repay royalties of 3%, but only with respect to the Company’s revenues in the U.S. market in excess of $250 of its revenues in fiscal year 2018, upon the earlier of the five year period beginning the year in which the Company will not be entitled to reimbursement of expenses under the program and/or until the amount of the grant, which is linked to the Consumer Price Index, is fully paid.
|
a. |
Pursuant to a shelf registration on Form S-3 declared effective by the Securities and Exchange Commission on June 23, 2017, in July 2017 the Company entered into an At Market Issuance Sales Agreement (“ATM Agreement”) with FBR Capital Markets & Co., MLV & Co. LLC and Oppenheimer & Co. Inc. (collectively, the “Agents”), which provides that, upon the terms and subject to the conditions and limitations in the ATM Agreement, the Company may elect, from time to time, to offer and sell shares of common stock having an aggregate offering price of up to $80,000 through the Agents acting as sales agent. During the nine month period ended March 31, 2019, the Company sold 1,706,000 shares of common stock under the ATM Agreement at an average price of $1.23 per share for aggregate net proceeds of approximately $1,952, net of issuance expenses of $148.
|
b. |
Pursuant to a shelf registration on Form S-3 declared effective by the Securities and Exchange Commission on June 23, 2017, in February 6, 2019 the Company entered into an Open Market Sales Agreement (the “Sales Agreement”) with Jefferies LLC (“Jefferies”) which provides that, upon the terms and subject to the conditions and limitations in the sales agreement, the Company may elect, from time to time, to offer and sell shares of common stock having an aggregate offering price of up to $50,000 through Jefferies acting as sales agent. During the nine month period ended March 31, 2019, the Company sold 2,018,000 shares of common stock under the Sales Agreement at an average price of $0.97 per share for aggregate net proceeds of approximately $1,758, net of issuance expenses of $209.
|
NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
|
U.S. Dollars in thousands (except share and per share amounts)
|
c. |
On October 31, 2017, the Company completed a public offering in Israel, pursuant to the Company’s existing shelf registration statement on Form S-3 in the United States and a shelf registration statement filed in Israel, pursuant to which the Company raised aggregate gross proceeds of $15,051 through the sale of 9,000,000 shares of the Company’s common stock at a purchase price of NIS 5.90 (approximately $1.67) per share. The net proceeds, after deducting fees and expenses related to the offering, were approximately $13,646.
|
d. |
Through the nine month period ended March 31, 2018, a total of 828,703 warrants were exercised by investors at an exercise price of $1.40 per share, resulting in the issuance of 828,703 shares of common stock for net proceeds of approximately $1,160.
|
e. |
Options, restricted stocks (“RS”) and restricted stock units (“RSU”) to employees, directors and consultants:
|
1. |
Options to employees and directors:
|
Nine months ended March 31, 2019 (Unaudited)
|
||||||||
Number
|
Weighted Average Exercise Price
|
|||||||
Options outstanding at beginning of period
|
315,000
|
$
|
0.62
|
|||||
Options forfeited
|
(307,500
|
)
|
$
|
0.62
|
||||
Options exercised
|
(7,500
|
)
|
$
|
0.62
|
||||
Options outstanding at end of the period
|
-
|
-
|
NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
|
U.S. Dollars in thousands (except share and per share amounts)
|
e. |
Options, restricted stocks and restricted stock units to employees,
directors and consultants (cont.):
|
2. |
Options to non-employees:
|
Nine months ended March 31, 2019 (Unaudited)
|
||||||||||||||||
Number
|
Weighted Average Exercise Price
|
Weighted Average Remaining Contractual Terms (in years)
|
Aggregate Intrinsic Value Price
|
|||||||||||||
Options outstanding at beginning of period
|
500,600
|
$
|
0.01
|
-
|
-
|
|||||||||||
Options granted
|
548,050
|
-
|
-
|
-
|
||||||||||||
Options exercised
|
(11,000
|
)
|
0.28
|
-
|
-
|
|||||||||||
Options forfeited
|
(1,850
|
)
|
-
|
-
|
-
|
|||||||||||
Options outstanding at end of the period
|
1,035,800
|
$
|
-
|
8.10
|
$
|
995
|
||||||||||
Options exercisable at the end of the period
|
353,041
|
$
|
-
|
7.10
|
$
|
342
|
||||||||||
Options vested and expected to vest
|
1,035,800
|
$
|
-
|
8.10
|
$
|
995
|
Nine months ended
March 31,
|
Three months ended
March 31,
|
|||||||||||||||
2019
|
2018
|
2019
|
2018
|
|||||||||||||
(Unaudited)
|
(Unaudited)
|
|||||||||||||||
Research and development expenses
|
$
|
229
|
$
|
29
|
$
|
132
|
$
|
23
|
||||||||
General and administrative expenses
|
$
|
90
|
$
|
45
|
$
|
63
|
$
|
17
|
||||||||
$
|
319
|
$
|
74
|
$
|
195
|
$
|
40
|
NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
|
U.S. Dollars in thousands (except share and per share amounts)
|
e. |
Options, restricted stock and restricted stock units to employees,
directors and consultants (cont.):
|
3. |
RS and RSUs to employees and directors:
|
Number
|
||||
Unvested at the beginning of period
|
6,293,608
|
|||
Granted
|
4,976,000
|
|||
Forfeited
|
(398,594
|
)
|
||
Vested
|
(1,817,770
|
)
|
||
Unvested at the end of the period
|
9,053,244
|
|||
Expected to vest after March 31, 2019
|
8,752,241
|
Nine months ended March 31,
|
Three months ended March 31,
|
|||||||||||||||
2019
|
2018
|
2019
|
2018
|
|||||||||||||
(Unaudited)
|
(Unaudited)
|
|||||||||||||||
Research and development expenses
|
$
|
920
|
$
|
835
|
$
|
480
|
$
|
504
|
||||||||
General and administrative expenses
|
2,261
|
3,637
|
907
|
1,070
|
||||||||||||
$
|
3,181
|
$
|
4,472
|
$
|
1,387
|
$
|
1,574
|
NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
|
U.S. Dollars in thousands (except share and per share amounts)
|
e. |
Options, restricted stock and restricted stock units to employees,
directors and consultants (cont.):
|
4. |
RS and RSUs to consultants:
|
Number
|
||||
Unvested at the beginning of period
|
199,559
|
|||
Granted
|
411,760
|
|||
Vested
|
(193,610
|
)
|
||
Unvested at the end of the period
|
417,709
|
Nine months ended March 31,
|
Three months ended March 31,
|
|||||||||||||||
2019
|
2018
|
2019
|
2018
|
|||||||||||||
(Unaudited)
|
(Unaudited)
|
|||||||||||||||
Research and development expenses
|
$
|
55
|
$
|
21
|
$
|
37
|
$
|
18
|
||||||||
General and administrative expenses
|
394
|
328
|
134
|
155
|
||||||||||||
$
|
449
|
$
|
349
|
$
|
171
|
$
|
173
|
· |
the expected development and potential benefits from our products in treating various medical conditions;
|
· |
the clinical trials to be conducted according to our license agreement with CHA Biotech Co. Ltd.;
|
· |
our plan to execute our strategy independently, using our own personnel, and through relationships with research and clinical institutions or in collaboration with other companies;
|
· |
the prospects of entering into additional license agreements, or other forms of cooperation with other companies and medical institutions;
|
· |
our pre-clinical and clinical trials plans, including timing of initiation, enrollment and conclusion of trials;
|
· |
the expected timing of the release of data from our various studies;
|
· |
achieving regulatory approvals, including under accelerated paths;
|
· |
receipt of future funding from the Israel Innovation Authority, or IIA,
the European Union's Horizon 2020 program as well as grants from other independent third parties;
|
· |
our marketing plans, including timing of marketing our product candidates, PLX-PAD and PLX-R18;
|
· |
developing capabilities for new clinical indications of placenta expanded (PLX) cells and new products;
|
· |
the timing and development of our PLX-Immune product candidate;
|
· |
our estimations regarding the size of the global market for our product candidates;
|
· |
our expectations regarding our production capacity;
|
· |
our expectation to demonstrate a real-world impact and value from our pipeline, technology platform and commercial-scale manufacturing capacity;
|
· |
our expectations regarding our short- and long-term capital requirements;
|
· |
the proposed joint venture to be established with Sosei Corporate Venture Capital Ltd. for the clinical development and commercialization of Pluristem’s PLX-PAD cell therapy product in Japan, the plan to enter into definitive agreements and the timing of entering such agreements;
|
· |
our outlook for the coming months and future periods, including but not limited to our expectations regarding future revenue and expenses; and
|
· |
information with respect to any other plans and strategies for our business.
|
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