BrainStorm Cell Therapeutics Shifts to OTCQB Trading
BrainStorm Cell Therapeutics Inc. (NASDAQ: BCLI) has announced a significant update regarding its stock trading status. The company has received a notification regarding its delisting from the Nasdaq Stock Market. Due to non-compliance with the Nasdaq Listing Rule 5550(b)(1), which pertains to minimum shareholder equity requirements, trading of BrainStorm's common stock on Nasdaq will be suspended.
As a proactive measure, BrainStorm has successfully secured a quote for its common stock on the OTCQB Venture Market, operated by OTC Markets Group. This transition is expected to ensure uninterrupted trading for shareholders, as the company prepares to commence trading on the OTCQB under the same ticker symbol, BCLI.
CEO’s Assurance and Future Commitment
Chaim Lebovits, the CEO of BrainStorm Cell Therapeutics, expressed optimism about this transition despite the challenges posed by the Nasdaq delisting. He reassured shareholders and the patient community that the company's core mission remains steadfast. BrainStorm's commitment to advancing NurOwn, a novel therapy for amyotrophic lateral sclerosis (ALS), continues unabated.
Lebovits emphasized that the transition to OTCQB would allow the company to maintain ongoing focus on NurOwn and its various scientific programs. He reiterated the company's dedication to its research initiatives and the importance of its pivotal Phase 3b trial under a Special Protocol Assessment agreement with the FDA.
Continuing Operations and Commitment to Shareholders
BrainStorm reassured its stakeholders that the delisting does not impact its core business operations or its commitment to shareholders. They plan to maintain transparency by continuing to provide updates surrounding their progress and financial status in line with applicable SEC regulations.
About NurOwn Technology
NurOwn technology serves as BrainStorm's cutting-edge investigational therapeutic approach in the field of neurodegenerative disorders. By utilizing autologous MSC-NTF cells, which are generated from the patient’s own stem cells, the technology aims to deliver vital neurotrophic factors and promote neuroprotection. This innovative method could potentially slow or stabilize disease progression—an exciting advancement for patients battling ALS.
BrainStorm has not only focused on ALS with its lead investigational therapy, NurOwn, but it has made strides to navigate other potential applications. With an already completed Phase 3 trial for ALS, the company is set to advance its capabilities with a second Phase 3b trial. Recent findings from these trials have illuminated critical insights into ALS disease biology, strengthening the company's research foundation.
Broader Aspirations and Innovations
In addition to focusing on ALS, BrainStorm is also advancing a Phase 2 trial concerning multiple sclerosis. This reflects an ongoing commitment to addressing a spectrum of neurologic disorders through its innovative treatments. Moreover, their efforts extend into exosome-based therapies—an exciting frontier in regenerative medicine that targets the delivery of therapeutic proteins more efficiently than traditional methods.
BrainStorm recently achieved a Notice of Allowance for a foundational patent concerning its exosome technology. This bolsters the company’s intellectual property portfolio, enhancing its position in a rapidly unfolding area of regenerative therapies.
Frequently Asked Questions
Why did BrainStorm Cell Therapeutics get delisted from Nasdaq?
BrainStorm received a delisting notification due to non-compliance with Nasdaq's minimum shareholder equity requirements, prompting a shift to OTCQB.
What does the transition to OTCQB mean for shareholders?
The transition to OTCQB ensures that trading of BrainStorm’s shares continues uninterrupted, allowing shareholders to maintain their investments.
What is the purpose of the NurOwn technology platform?
NurOwn technology aims to deliver neurotrophic factors to combat neurodegenerative diseases such as ALS, potentially stabilizing disease progression.
Does the delisting impact BrainStorm’s research efforts?
No, despite the delisting, BrainStorm affirms that its research and development initiatives will proceed as planned with a strong commitment to ongoing projects.
What are the future clinical plans for NurOwn?
BrainStorm is preparing for a pivotal Phase 3b trial of NurOwn under an agreement with the FDA, continuing its pursuit to advance treatment for ALS.
