Recent developments highlight clinical progress, patent advancements, regulatory interactions, and financial performance updates for Brainstorm Cell Therapeutics.

• Brainstorm reported a 43% EPS gain in Q2 2025, indicating improved earnings performance [N1].
• NurOwn® study data showed a 90% survival rate in ALS patients, supporting clinical potential [N2].
• The company received a Notice of Allowance for a patent on exosome technology, strengthening its intellectual property [N4].
• Brainstorm entered a memorandum of understanding with Pluri to support the NurOwn® trial, indicating collaboration efforts [N5].
• NurOwn® survival data was presented at the NEALS Meeting, providing clinical insights [N6].
• Insider buying was reported in October 2024, reflecting insider confidence [N7].
• The FDA provided a clear path for a planned Phase 3b trial of NurOwn® in ALS following a meeting with Brainstorm [N8].
• Pre-market earnings reports in March 2025 included Brainstorm, indicating ongoing financial disclosures [N3].

Brainstorm has demonstrated clinical progress with NurOwn®, including Phase 3 trial data and survival rate improvements in ALS patients. The company has secured patent allowances for related technologies and established collaborations to support clinical trials. Regulatory designations such as Fast Track and Orphan Drug status may facilitate development and potential future commercialization. Insider buying and positive EPS gains reported in recent quarters indicate some confidence in the company’s prospects. The proprietary autologous cell therapy platform addresses significant unmet needs in neurodegenerative diseases.

Brainstorm faces significant challenges including ongoing operating losses, liquidity constraints with a low current ratio and cash ratio, and no current revenues. The company’s stock was delisted from Nasdaq due to non-compliance with equity requirements, reflecting financial and market pressures. There are ongoing legal proceedings including securities class action and derivative lawsuits related to FDA communications and NurOwn® data. The company has disclosed material weaknesses in internal controls and faces risks related to regulatory approval, clinical trial outcomes, and market acceptance. The autologous therapy approach may face manufacturing and scalability challenges.

Brainstorm’s moat is based on its proprietary NurOwn® technology platform, which is autologous and leverages differentiated mesenchymal stem cells to secrete neurotrophic factors potentially beneficial in neurodegenerative diseases. The company holds patents related to its manufacturing process and has received regulatory designations such as Fast Track and Orphan Drug status, which may provide some market exclusivity and regulatory advantages. Its manufacturing capabilities in Israel and clinical trial experience contribute to its specialized position. However, the company remains in clinical development without commercialized products, limiting its current competitive moat.

• Liquidity Risk: As of December 31, 2025, Brainstorm reported cash and cash equivalents of $29,000 against current liabilities of approximately $11 million, resulting in a current ratio of 0.03, indicating significant liquidity constraints.
• Regulatory and Clinical Risk: The company’s NurOwn® therapy is in clinical development with no approved products. Regulatory approval and successful clinical trial outcomes remain uncertain.
• Legal Proceedings: Brainstorm is subject to multiple ongoing lawsuits including a securities class action and derivative actions related to FDA communications and clinical data, which may result in financial and reputational impacts.
• Market and Stock Volatility: The company’s stock has experienced significant price and volume volatility and was delisted from Nasdaq, now trading on OTCQB, which may affect investor confidence and liquidity.
• Operational and Internal Control Risks: The company has disclosed material weaknesses in internal control over financial reporting and faces risks related to cybersecurity threats and compliance.

• Brainstorm Cell Therapeutics Inc. is a biotechnology company focused on developing autologous cellular therapies for neurodegenerative diseases including ALS, PMS, and Alzheimer's disease.
• The company’s proprietary technology platform is NurOwn®, which uses autologous bone marrow-derived mesenchymal stem cells (MSCs) differentiated into neurotrophic factor secreting cells (MSC-NTF).
• NurOwn® is an autologous treatment involving bone marrow aspiration, MSC isolation, propagation, cryopreservation, differentiation into MSC-NTF cells, and intrathecal administration.
• NurOwn® has received FDA Fast Track designation and Orphan Drug Status in the U.S. and Europe for ALS.
• The company has conducted Phase 3 clinical trials for NurOwn® in ALS and has presented survival data at scientific meetings.
• Brainstorm Cell Therapeutics has manufacturing facilities in Israel compliant with Good Manufacturing Practice (GMP) for NurOwn® production.
• The company’s common stock is traded on the OTCQB Venture Market under the ticker BCLI after delisting from Nasdaq in July 2025 due to non-compliance with minimum shareholder equity requirements.
• Brainstorm has incurred operating losses since inception and has not generated revenues; it had an accumulated deficit of approximately $235 million as of September 30, 2025.
• As of December 31, 2025, the company reported cash and cash equivalents of $29,000 and current liabilities of approximately $11 million, resulting in a low current ratio of 0.03 and cash ratio of 0.02, indicating liquidity challenges.
• The company’s primary sources of cash have been proceeds from issuance and sale of common stock and warrants, including at-the-market offerings.
• Brainstorm has ongoing legal proceedings including a securities class action and derivative lawsuits related to NurOwn® and FDA communications.
• The company has received a Notice of Allowance for a patent on exosome technology, supporting its intellectual property portfolio.
• Brainstorm entered a memorandum of understanding with Pluri to support the NurOwn® trial.
• Recent news highlights include a 43% EPS gain in Q2 2025 and NurOwn® study data showing a 90% survival rate in ALS patients.
• The company has disclosed material weaknesses in internal control over financial reporting in prior years and is subject to risks related to cybersecurity and regulatory compliance.
• Brainstorm’s clinical trial sites and senior management are primarily based in the United States, with research and development and manufacturing operations in Israel.
• The company’s common stock has experienced significant price and volume volatility.
• Brainstorm has issued convertible promissory notes and entered into securities purchase agreements in early 2026 to raise funds.
• The company’s financial figures are summarized from the latest available SEC filings and are provided for informational purposes only — not financial advice.