Published August 16, 2016 2:31pm EDT | Updated August 16, 2016 3:04pm EDT

StemCells Stock Increases More Than Sixfold On News Of Merger With Microbot Medical

StemCells Inc. shares jumped more than sixfold to $2.35 per share in early afternoon trade Tuesday after the company said it would merge with Israeli private company Microbot Medical Ltd. to develop robotics-based medical devices. The company closed Monday at 37 cents per share. StemCells shares dropped 53.0% over the last three months, compared with a 5.5% rise in the S&P 500 .