Biopharmaceutical company Neuralstem Inc. (NASDAQ:CUR) surged in early trading on Tuesday after it disclosed that successful surgery was completed on patients with chronic spinal cord injuries using its stem cell therapy.
Neuralstem surged 10% to US$1.83 in morning trading.
The clinical stage biopharmaceutical company develops new treatments for serious nervous system diseases. Neuralstem’s lead stem-cell therapy candidate NSI-566 is now undergoing mid-stage clinical trial.
“This study involves complete injury patients with no motor or sensory function below injury. The first four paraplegic cases with thoracic injury went exceptionally well,” said Karl Johe, Chief Scientific Officer at Neuralstem Inc.
“We are excited to move forward with the next four quadriplegic cases with cervical injury,” he added.
Testing stem cells to treat spinal cord injuries
Neuralstem is conducting a human clinical trial evaluating the safety and feasibility of using NSI-566 spinal cord-derived neural stem cells to repair cSCI, a permanent and disabling condition with few to no treatments.
The National Spinal Cord Injury Statistical Center estimates that 250,000 Americans are living with cSCI with approximately 11,000 new injuries reported every year. More than half these individuals will be considered paraplegic and 47% will be considered quadriplegic.
The clinical trial is being conducted at the University of California, in San Diego, which is one of the world's leading public research universities.