BioRestorative Therapies Regains Compliance with Nasdaq Listing Rule 5250(c)(1); Reports First Quarter 2024 Financial Results

Core Insights - BioRestorative Therapies, Inc. has regained compliance with Nasdaq Listing Rule 5250(c)(1) after filing its Quarterly Report for Q1 2024 [1] - The company reported a significant year-over-year improvement in its financial performance for the first quarter of 2024 [10] Financial Performance - For Q1 2024, the company had a loss from operations of $4.1 million, which is a 29% improvement from the $5.8 million loss in Q1 2023 [2] - The net loss for Q1 2024 was $2.2 million, or $0.33 per share, compared to a net loss of $7.2 million, or $1.93 per share, in the same period of 2023 [2] - Cash used in operating activities was $2.3 million in Q1 2024, slightly down from $2.4 million in Q1 2023 [3] - The company ended Q1 2024 with a strong financial position, holding $16.4 million in cash, cash equivalents, and marketable securities [3][4] Business Overview - BioRestorative focuses on developing therapeutic products using adult stem cells, with two core clinical development programs: the Disc/Spine Program and the Metabolic Program [4][5] - The Disc/Spine Program includes BRTX-100, a cell therapy candidate for treating painful lumbosacral disc disorders, currently in Phase 2 clinical trials [4] - The Metabolic Program, known as ThermoStem®, aims to target obesity and metabolic disorders using brown adipose-derived stem cells [5] - The company also operates a commercial BioCosmeceutical platform, offering a cell-based secretome product designed to reduce fine lines and wrinkles [6]