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NEW YORK - BrainStorm Cell Therapeutics Inc. (NASDAQ:BCLI), currently valued at $11.56 million in market capitalization, will be delisted from the Nasdaq Capital Market effective Thursday, with trading suspended at market open, the company announced Today. The stock has experienced a significant decline, losing nearly 80% of its value over the past year.
The neurodegenerative disease therapy developer failed to meet Nasdaq’s minimum shareholder equity requirement under Listing Rule 5550(b)(1), triggering the delisting action. According to InvestingPro data, the company’s financial health shows concerning indicators, with short-term obligations exceeding liquid assets and a current ratio of 0.21.
BrainStorm has arranged for its shares to transition to the OTCQB Venture Market, where they will continue trading under the same BCLI ticker symbol beginning July 18, or shortly thereafter. Despite recent challenges, InvestingPro analysis suggests the stock may be undervalued at current levels, with additional insights available in the comprehensive Pro Research Report, part of the coverage of 1,400+ US equities.
"While this delisting from Nasdaq is a challenging outcome, we want to assure our shareholders and the patient community that it does not alter our core mission," said Chaim Lebovits, CEO of BrainStorm Cell Therapeutics, in a press release statement.
The company emphasized that the delisting will not impact its business operations or ongoing research and development efforts, including preparations for its planned Phase 3b trial of NurOwn for amyotrophic lateral sclerosis (ALS) under a Special Protocol Assessment agreement with the FDA. The company’s next earnings report is scheduled for August 12, 2025, which will provide crucial updates on its development progress.
BrainStorm’s NurOwn platform uses autologous mesenchymal stem cells that are expanded and differentiated to secrete neurotrophic factors, designed to deliver biological signals that modulate neuroinflammation and promote neuroprotection.
The company will continue to file required disclosures with the Securities and Exchange Commission in compliance with regulations.
In other recent news, BrainStorm Cell Therapeutics Inc. announced that the U.S. Food and Drug Administration (FDA) will review a Citizen Petition for a reassessment of data supporting its ALS therapy, NurOwn. The company is moving forward with its Phase 3b ENDURANCE trial under an FDA Special Protocol Assessment. In a strategic move to enhance production capabilities, BrainStorm has partnered with Minaris Advanced Therapies to manufacture NurOwn for the upcoming trial, expanding its manufacturing footprint in the United States. This collaboration is part of a broader strategy that includes an alliance with Pluri Inc. in Israel.
During its Q1 2025 earnings call, BrainStorm highlighted ongoing financial challenges while actively seeking a $15 million non-dilutive grant and strategic partnerships to secure funding. Despite these financial constraints, the company is focused on its Phase 3b trial for NurOwn, which is expected to enroll 200 patients over the next two to three years. In addition, BrainStorm is advancing its exosome-based platform for regenerative medicine, further demonstrating its commitment to innovation in neurodegenerative disease treatment. The company has not disclosed specific revenue and earnings details for the quarter but emphasized its efforts to overcome financial hurdles through strategic funding opportunities.
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