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BioRestorative Therapies (NASDAQ:BRTX) received a non-compliance notice from Nasdaq for not filing its Quarterly Report on Form 10-Q for the quarter ended March 31, 2024, on time. The notice was issued by Nasdaq's Listing Qualifications Department, highlighting a breach of Listing Rule 5250(c)(1), which mandates timely filing of all required periodic reports with the SEC.
The company has until July 22, 2024, to submit a plan to regain compliance. If accepted, Nasdaq may grant an extension of up to 180 days from the original filing due date to regain compliance, potentially extending the deadline to November 18, 2024. The company’s securities will continue to trade on Nasdaq under the symbol 'BRTX.' BioRestorative is making efforts to complete and file the Form 10-Q as soon as possible. This announcement follows Nasdaq's Listing Rule 5810(b), which requires immediate disclosure of such notifications.
BioRestorative Therapies (NASDAQ:BRTX) has entered into a five-year exclusive supply agreement with Cartessa Aesthetics to provide cell-based biologics, targeting the growing aesthetics market. The global aesthetics market, valued at $75.46 billion in 2023, is expected to reach $232.49 billion by 2032. BioRestorative's product, Chronos ExoCR, aims to reduce fine lines and wrinkles, leveraging the company's cell biology expertise and proprietary manufacturing processes. The agreement is expected to generate meaningful revenues and reduce reliance on capital markets. BioRestorative also aims for FDA approval of its bio-cosmeceuticals.
BioRestorative Therapies (NASDAQ: BRTX) provided an update on its first quarter 2024 business performance. Key achievements include advancing its lead clinical program, BRTX-100, with promising preliminary results from a Phase 2 trial, and expanding its preclinical ThermoStem® program targeting obesity. The company secured a commercial agreement with Cartessa Aesthetics for its BioCosmeceuticals line, expected to drive significant revenue growth. Financially, BioRestorative holds $16.4 million in cash and equivalents, offering robust financial flexibility to support its initiatives.
BioRestorative Therapies, Inc. announced the development of an exosome-based biologic program targeting obesity. The candidate aims to complement FDA-approved weight loss drugs, with DMF submission and human studies planned for 2024. The ThermoStem® platform showed promising results in preclinical studies, potentially leading to big pharma partnerships.
BioRestorative Therapies, Inc. will report its first quarter 2024 financial results on May 14, 2024, after market close. The company will discuss a new commercial agreement and provide updates on its Phase 2 clinical trial in Spine and preclinical development program in Obesity. CEO Lance Alstodt will host the quarterly conference call to review the financial results and business progress.
BioRestorative Therapies, Inc. (
