BrainStorm Cell Therapeutics Granted Compliance Extension from Nasdaq

NEW YORK, March 26, 2025 /PRNewswire/ -- BrainStorm Cell Therapeutics Inc. (NASDAQ:BCLI), a leading biotechnology company committed to the development and commercialization of best-in-class autologous cellular therapies for the treatment of neurodegenerative diseases, today announced that it has been granted the exact compliance extension it requested from the Nasdaq Hearings Panel through June 30, 2025, to regain compliance with certain continued listing standards of The Nasdaq Capital Market.

BrainStorm presented its request for continued listing on The Nasdaq Capital Market and the relevant compliance plan to the Nasdaq Hearings Panel at the panel hearing held on February 25, 2025. As a result of the hearing, the Nasdaq Hearings Panel granted BrainStorm an extension until June 30, 2025 to regain compliance with certain continued listing standards. The grant of such exception reflects BrainStorm's commitment to executing its compliance plan to meet the applicable requirements within the specified time frame.

Chaim Lebovits, President and Chief Executive Officer of BrainStorm Cell Therapeutics, commented: "We take our compliance plan extremely seriously, and we are fully committed to implementing the necessary measures to meet the requirements within the given time frame. This effort is fully aligned with our ongoing work plan, which includes launching the Phase 3b ALS study for NurOwn®, reducing our overall debt balance, and actively pursuing strategic partnerships to enhance our pipeline. We remain focused on strengthening our financial position and advancing our clinical programs to deliver value to both patients and shareholders."

The company is actively pursuing a range of initiatives aimed at enhancing shareholder value and improving its financial standing. BrainStorm remains dedicated to maintaining transparency throughout this process and will continue to provide updates as warranted.

About BrainStorm Cell Therapeutics Inc.              

BrainStorm Cell Therapeutics Inc. is a leading developer of innovative therapies for debilitating neurodegenerative diseases, leveraging both autologous and allogeneic platforms. The Company holds exclusive worldwide licensing rights for the NurOwn® technology platform, which produces autologous MSC-NTF cells. These cells have received Orphan Drug designation from the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA) for amyotrophic lateral sclerosis (ALS). BrainStorm is currently planning the launch of a confirmatory Phase 3b trial in ALS with NurOwn to further evaluate its safety and efficacy. BrainStorm's exosome technology, derived from MSC-NTF cells, represents an allogeneic therapeutic platform, providing customizable, nano-carrier-based solutions for targeted delivery of bioactive molecules. These exosomes exhibit unique immunomodulatory properties and are designed to address critical pathways in neurodegenerative and respiratory diseases. The Company has completed a Phase 3 trial assessing NurOwn in ALS and advanced clinical studies of NurOwn in progressive multiple sclerosis (MS), supported by grants from the California Institute for Regenerative Medicine (CIRM) and the National MS Society (NMSS).

Notice Regarding Forward-Looking Statements  

This press release contains "forward-looking statements" that are subject to substantial risks and uncertainties, including statements regarding the expectation of continued listing of BrainStorm's common stock on The Nasdaq Capital Market, execution of its compliance plan, launch of the Phase 3b ALS study for NurOwn®, reduction of its overall debt balance, and active pursuit of strategic partnerships to enhance its pipeline. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "plan," "potential," "predict," "project," "target," "aim," "should," "will" "would," or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on BrainStorm's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. These potential risks and uncertainties include, without limitation, the factors detailed in BrainStorm's annual report on Form 10-K and quarterly reports on Form 10-Q available at http://www.sec.gov. These factors should be considered carefully, and readers should not place undue reliance on BrainStorm's forward-looking statements. The forward-looking statements contained in this press release are based on the beliefs, expectations, and opinions of management as of the date of this press release. We do not assume any obligation to update forward-looking statements to reflect actual results or assumptions if circumstances or management's beliefs, expectations or opinions should change, unless otherwise required by law. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements.

CONTACTS

IR:

Michael Wood

Phone: +1 646-597-6983

[email protected]

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SOURCE BrainStorm Cell Therapeutics Inc.