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NEW YORK - BrainStorm Cell Therapeutics Inc. (NASDAQ:BCLI), a biotechnology firm focusing on cellular therapies for neurodegenerative diseases, with a market capitalization of $8.2 million, has been granted an extension until June 30, 2025, to meet Nasdaq’s continued listing standards. The company’s stock has declined over 85% in the past year, trading at $1.44. The Nasdaq Hearings Panel provided the extension following BrainStorm’s February 25, 2025, hearing, where the company presented its compliance plan.
The extension is in line with BrainStorm’s commitment to execute its plan within the given timeframe. According to InvestingPro data, the company faces financial challenges with a weak current ratio of 0.05 and negative EBITDA of $13 million in the last twelve months. President and CEO Chaim Lebovits emphasized the company’s dedication to meeting the necessary measures to comply with Nasdaq’s requirements, which runs parallel to BrainStorm’s current initiatives. These include initiating a Phase 3b study of its NurOwn® therapy for ALS, reducing debt, and seeking strategic partnerships.
BrainStorm’s efforts are part of a broader strategy to enhance shareholder value and solidify its financial position. The company has committed to maintaining transparency with its stakeholders and plans to keep the market informed of its progress.
The company’s proprietary technology, NurOwn®, has garnered Orphan Drug designation for ALS from both the FDA and EMA. BrainStorm is preparing to launch a confirmatory Phase 3b trial to further assess the treatment’s safety and efficacy. Additionally, BrainStorm is exploring exosome technology for potential applications in neurodegenerative and respiratory diseases. Past clinical trials have included assessments of NurOwn in ALS and progressive MS. For a comprehensive analysis of BrainStorm’s financial health, clinical pipeline, and growth prospects, access the detailed Pro Research Report available exclusively on InvestingPro, covering over 1,400 US stocks with expert insights and actionable intelligence.
The information in this article is based on a press release statement from BrainStorm Cell Therapeutics Inc.
In other recent news, Brainstorm Cell Therapeutics Inc. has filed an appeal against the Nasdaq’s decision to delist its stock due to non-compliance with the Minimum Value of Listed Securities (MVLS) requirement. The company had been notified of its failure to meet the minimum market value of $35 million by the January 14, 2025, deadline. Brainstorm promptly requested a hearing with the Nasdaq Hearings Panel, which is now scheduled for February 25, 2025, effectively staying the delisting process until a final decision is made. The company plans to present its strategy to address compliance issues during this hearing. Despite the appeal, there is no guarantee that Brainstorm will succeed in maintaining its Nasdaq listing. This development follows previous warnings and a grace period provided to rectify the situation. The potential delisting could impact the company’s stock liquidity and investor perception. Investors are reminded that forward-looking statements from Brainstorm are subject to risks and uncertainties.
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