Pluristem Therapeutics Inc. (PSTI) headed for the highest close in more than two months after the developer of cell-therapy products said it received a grant of 11.8 million shekels ($3.2 million) from the Israeli government.

The shares advanced 2.2 percent to 9.38 shekels at 2:20 p.m. in Tel Aviv, poised for the highest close since Feb. 22. The shares have advanced 12.4 percent this month, trimming this year’s drop to 1.1 percent.

To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at ssolomon22@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net