BrainStorm Cell Therapeutics Regains Compliance with NASDAQ Minimum Market Value Rule

Rhea-AI Summary

BrainStorm Cell Therapeutics Inc. (BCLI) received a notification from Nasdaq stating that the company has regained compliance with the minimum market value of listed securities requirement. The market value of listed securities has been $35,000,000 or greater for 11 consecutive business days, from March 22, 2024, through April 9, 2024.

Insights

Market Research Analyst

Regaining compliance with Nasdaq's minimum market value requirement is a positive signal for current and potential investors. It indicates that BrainStorm Cell Therapeutics has achieved a level of stability and investor confidence that could lead to improved liquidity and access to capital. This development may also attract more institutional investors who adhere to strict compliance guidelines when considering their investment portfolios. It's noteworthy that the market value of listed securities is a reflection of both the company's stock price and its outstanding shares, implying that the company has likely been successful in maintaining or increasing its share price, or possibly implementing strategies such as share buybacks to reduce the number of shares outstanding.

Financial Analyst

From a financial perspective, the regained compliance with Nasdaq's listing standards may reduce the risk of a delisting, which can be a costly and disruptive process for any publicly traded company. Delisting can severely limit a company's ability to raise funds and decrease the stock's liquidity. The company's achievement suggests that it has taken corrective measures to improve its market capitalization, which may have been through operational improvements, strategic partnerships, or other value-adding activities. Investors should monitor the company's future filings and press releases to understand the underlying factors that contributed to this regained compliance and to assess the sustainability of the company's market value.

Biotech Industry Analyst

In the context of the biotechnology sector, maintaining compliance with market value requirements is essential for companies like BrainStorm Cell Therapeutics, which often require substantial capital for research and development. The compliance indicates that the market perceives the company's pipeline and intellectual property to be of significant value. For a company specializing in cellular therapies for neurodegenerative diseases, which is a high-risk but potentially high-reward area, the ability to maintain a healthy market capitalization is indicative of investor belief in the potential of its therapies. It's important for stakeholders to consider the competitive landscape and the company's progress in clinical trials, as these are critical factors that could impact the company's future market value and its ability to sustain compliance with Nasdaq's standards.

NEW YORK, April 11, 2024 /PRNewswire/ -- BrainStorm Cell Therapeutics Inc. (NASDAQ: BCLI, "the Company"), a leading developer of cellular therapies for neurodegenerative diseases, today announced that it received a notification letter (the "Notification Letter on Compliance") on April 10, 2024 from the Listing Qualifications Department of The Nasdaq Stock Market ("Nasdaq"), indicating that the Company has regained compliance with the minimum market value of listed securities requirement set forth under Nasdaq Listing Rule 5550(b)(2) (the "Rule").

According to the Notification Letter on Compliance, Nasdaq's staff has determined that for the 11 consecutive business days, from March 22, 2024 through April 9, 2024, the Company's market value of listed securities has been $35,000,000 or greater, and the Company has regained compliance with the Rule.

About BrainStorm Cell Therapeutics Inc.

BrainStorm Cell Therapeutics Inc. is a leading developer of innovative autologous adult stem cell therapeutics for debilitating neurodegenerative diseases. BrainStorm holds the rights to clinical development and commercialization of the NurOwn® technology platform used to produce autologous MSC-NTF cells through an exclusive, worldwide licensing agreement. Autologous MSC-NTF cells have received Orphan Drug designation status from the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA) for the treatment of amyotrophic lateral sclerosis (ALS). BrainStorm has completed a Phase 3 trial in ALS (NCT03280056); this trial investigated the safety and efficacy of repeat administration of autologous MSC-NTF cells and was supported by a grant from the California Institute for Regenerative Medicine (CIRM CLIN2-0989), and another grant from the ALS Association and I AM ALS. BrainStorm completed under an investigational new drug application a Phase 2 open-label multicenter trial (NCT03799718) of autologous MSC-NTF cells in progressive MS and was supported by a grant from the National MS Society (NMSS).

CONTACTS
IR:
Michael Wood
Phone: +1 646-597-6983
mwood@lifesciadvisors.com

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SOURCE BrainStorm Cell Therapeutics Inc.

FAQ

What notification did BrainStorm Cell Therapeutics Inc. (BCLI) receive from Nasdaq?

BrainStorm Cell Therapeutics Inc. received a notification letter on compliance from Nasdaq.

What was the market value of listed securities for BrainStorm Cell Therapeutics Inc. (BCLI) during the specified period?

The market value of listed securities for BCLI was $35,000,000 or greater for 11 consecutive business days, from March 22, 2024, through April 9, 2024.

What rule did BrainStorm Cell Therapeutics Inc. (BCLI) regain compliance with?

BCLI regained compliance with the minimum market value of listed securities requirement set forth under Nasdaq Listing Rule 5550(b)(2).