BrainStorm Cell Therapeutics Announces Full Year 2024 Financial Results and Provides Corporate Update

Core Insights - BrainStorm Cell Therapeutics Inc. reported financial results for the fiscal year ended December 31, 2024, highlighting resilience and progress in developing therapies for neurodegenerative diseases, particularly ALS [2][7]. Financial Performance - Cash, cash equivalents, and short-term bank deposits were approximately $0.4 million as of December 31, 2024, down from $1.5 million as of December 31, 2023 [10]. - Research and development expenditures for the year were $4.7 million, a decrease from $10.7 million in 2023 [10][17]. - General and administrative expenses were approximately $7.0 million for 2024, compared to $10.7 million in 2023 [10][17]. - The net loss for the year was approximately $11.6 million, an improvement from a net loss of $17.2 million in 2023 [10][17]. - Net loss per share for 2024 was $2.31, compared to $6.00 in 2023 [10][17]. Corporate Developments - The company is preparing for a Phase 3b trial of NurOwn in ALS, with an agreement on a Special Protocol Assessment (SPA) from the FDA, which reduces regulatory risks [2]. - A new patent covering exosome platform technology was allowed by the U.S. Patent and Trademark Office, enhancing the company's intellectual property portfolio [5]. - A warrant inducement agreement is expected to raise approximately $1.64 million, closing around April 1, 2025 [6][10]. Clinical and Regulatory Updates - NurOwn technology, which utilizes autologous MSC-NTF cells, aims to target pathways in neurodegenerative disorders and has received Orphan Drug designation from the FDA and EMA for ALS treatment [12][13]. - The company has completed a Phase 3 pivotal trial in ALS and is actively working on the regulatory approval process for NurOwn [13].