BrainStorm Cell Therapeutics Regains Compliance with Nasdaq Minimum Bid Price Requirement

Brainstorm Cell Therapeutics Inc., a prominent developer of cellular therapies for neurodegenerative diseases, recently announced in a Form 8-K filing that it has regained compliance with the minimum closing bid price requirement under Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market. The notice was received from The Nasdaq Stock Market on October 29, 2024.

The company’s common stock, valued at $0.00005 per share, will continue to be traded on The Nasdaq Capital Market, subject to Brainstorm Cell Therapeutics’ compliance with Nasdaq’s continued listing requirements. The successful compliance follows a period where the company faced the risk of delisting due to not meeting the Minimum Bid Price Requirement.

To rectify the situation, Brainstorm Cell Therapeutics implemented a reverse split of the Common Stock at a ratio of one-for-fifteen on September 30, 2024. This move was aimed at achieving compliance with the Minimum Bid Price Requirement. Following the Reverse Stock Split, the Common Stock closed at above $1.00 for ten consecutive trading days as of October 15, 2024, demonstrating adherence to the Nasdaq requirements.

In the Form 8-K filing, the company included a cautionary statement regarding forward-looking statements. BrainStorm Cell Therapeutics outlined potential risks and uncertainties that could impact actual results, urging readers to consider factors detailed in previous SEC filings.

BrainStorm Cell Therapeutics Inc. is known for its innovative autologous adult stem cell therapeutics for debilitating neurodegenerative diseases. The company’s NurOwn® technology platform, used to produce autologous MSC-NTF cells, has received Orphan Drug designation status for the treatment of amyotrophic lateral sclerosis (ALS). BrainStorm has conducted significant trials in ALS and progressive MS, showcasing promising results.

Investors and stakeholders are encouraged to review the company’s forward-looking statements cautiously, considering the inherent uncertainties and risks associated with such projections. BrainStorm Cell Therapeutics does not have an obligation to update or revise forward-looking statements, except where required by law.

The Form 8-K filing also included the company’s press release dated October 30, 2024, affirming the regained compliance with the Nasdaq Minimum Bid Price Requirement.

For further information, interested parties can access BrainStorm Cell Therapeutics’ official website or refer to its SEC filings for detailed financial data.

This article originates from a public filing by BrainStorm Cell Therapeutics with the Securities and Exchange Commission and does not contain editorial input or MarketBeat-specific content.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Brainstorm Cell Therapeutics’s 8K filing here.

About Brainstorm Cell Therapeutics

Brainstorm Cell Therapeutics Inc, a biotechnology company, engages in the development and commercialization of autologous cellular therapies for the treatment of neurodegenerative diseases. The company, through its NurOwn proprietary cell therapy platform, leverages cell culture methods to induce autologous bone marrow-derived mesenchymal stem cells to secrete high levels of neurotrophic factors, modulate neuroinflammatory and neurodegenerative disease processes, promote neuronal survival, and enhance neurological function.