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(Reuters) - Pluristem Therapeutics Inc said the U.S. Food and Drug Administration lifted its clinical hold on a mid-stage trial of the company's experimental drug for muscle pain.
The company's shares rose 9 percent to $3.52 in premarket trading.
The Israel-based company said the FDA allowed it to go ahead with the study, saying that Pluristem had addressed all issues related to the hold.
The FDA put the study on hold in June after a patient in the study was hospitalized due to a serious allergic reaction.
The company suspended trials in the United States and Europe.
The drug, codenamed IND 15038, is designed to treat intermittent claudication, or pain caused by reduced blood flow to the muscles of the leg during exercise.
It is formulated using the company's patented cells derived from human placenta.
(Reporting By Vrinda Manocha in Bangalore; Editing by Sreejiraj Eluvangal)