BrainStorm Cell Therapeutics successfully restores compliance with Nasdaq requirement

October 30, 2024 03:41 AM PDT | By Team Kalkine Media

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BrainStorm Cell Therapeutics successfully restores compliance with Nasdaq requirement — Image source: Shutterstock

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Highlights

BrainStorm Cell Therapeutics Inc. has regained compliance with Nasdaq's minimum bid price requirement, ensuring continued listing on The Nasdaq Capital Market.

The company is recognized for its innovative autologous adult stem cell therapies, particularly in the treatment of neurodegenerative diseases such as amyotrophic lateral sclerosis (ALS).

BrainStorm's NurOwn® technology has received Orphan Drug designation from the FDA and EMA, reflecting its potential impact on patients with ALS.

BrainStorm Cell Therapeutics Inc. (NASDAQ:BCLI), a prominent developer of cellular therapies aimed at neurodegenerative diseases, announced on October 29, 2024, that it has regained compliance with the minimum closing bid price requirement set forth by Nasdaq Listing Rule 5550(a)(2). This compliance allows the company's common stock to continue trading on The Nasdaq Capital Market, contingent upon meeting ongoing listing requirements.

BrainStorm is at the forefront of developing innovative therapies using its NurOwn® technology platform. This platform produces autologous mesenchymal stem cell-derived neurotrophic factor (MSC-NTF) cells, which are specifically designed to address the challenges associated with debilitating conditions like ALS. The technology has garnered Orphan Drug designation status from both the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA) due to its potential to provide significant benefits to patients suffering from these conditions.

The company has successfully completed a Phase 3 clinical trial for ALS, examining the safety and efficacy of repeated administration of its MSC-NTF cells. This trial was bolstered by support from grants provided by the California Institute for Regenerative Medicine and the ALS Association. Additionally, BrainStorm completed a Phase 2 open-label multicenter trial in progressive multiple sclerosis, further showcasing its commitment to advancing treatment options in this space.

The announcement is an important milestone for BrainStorm as it continues to navigate the complexities of the biotechnology landscape. The company remains focused on its mission to improve the lives of individuals affected by neurodegenerative diseases through innovative therapies and dedicated research efforts. Stakeholders are encouraged to stay informed about the company's progress as it continues its clinical developments and seeks to fulfill its potential in the healthcare market.

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