BrainStorm Cell Therapeutics Inc.'s SEC filings document a Delaware biotechnology issuer developing NurOwn® autologous MSC-NTF cells for neurodegenerative diseases. Recent Form 8-K reports cover financial results, material definitive agreements, securities purchase transactions, promissory notes, private placements and related capital-structure terms.
The filing record also documents BCLI common stock trading status, including Nasdaq removal through Form 25 and subsequent OTCQB Venture Market security disclosures. Governance filings include annual meeting matters, amendments to the 2014 Stock Incentive Plan and 2014 Global Share Option Plan, and capital-structure disclosures tied to equity and convertible-note financing.
BrainStorm Cell Therapeutics reported first quarter 2026 results and updated progress on its NurOwn ALS program. For the three months ended March 31, 2026, the company recorded a net loss of $2,127 thousand, narrower than the $2,864 thousand loss a year earlier, with a basic and diluted net loss per share of $0.19.
Research and development expenses were $762 thousand and general and administrative expenses were $1,284 thousand. The balance sheet shows cash and cash equivalents of $15 thousand and total assets of $755 thousand versus total liabilities of $11,764 thousand, resulting in stockholders’ deficit of $11,009 thousand as of March 31, 2026.
Management highlighted preparations for the planned Phase 3 ENDURANCE study of NurOwn in ALS, noting that site activation, manufacturing readiness, and regulatory engagement are progressing and that moving into enrollment remains subject to securing the necessary financing.
Brainstorm Cell Therapeutics Inc. reported another quarterly loss and remains under significant financial strain. For the three months ended March 31, 2026, the company recorded a net loss of $2,127 thousand, down from $2,864 thousand a year earlier, driven by lower research and development and general and administrative spending.
Total assets were only $755 thousand against $11,764 thousand of liabilities, resulting in a stockholders’ deficit of $11,009 thousand. Cash and cash equivalents were just $15 thousand at quarter-end, with additional restricted cash of $191 thousand, underscoring severe liquidity pressure.
Operating activities used $1,320 thousand of cash, partially offset by $1,250 thousand from financing, including a $970 thousand private placement and new short-term loans. Management explicitly states that recurring losses, minimal cash, reliance on equity and debt financing, and outstanding convertible and other short-term notes raise substantial doubt about the company’s ability to continue as a going concern.
BrainStorm Cell Therapeutics Inc. describes a challenging year centered on its NurOwn® cell therapy for ALS and related neurodegenerative diseases. A Phase 3 ALS trial did not achieve statistically significant results overall, and an FDA advisory committee later voted 17-1 that NurOwn did not demonstrate substantial evidence of effectiveness for mild to moderate ALS, leading to withdrawal of the Biologics License Application on November 3, 2023.
Subsequently, BrainStorm held a December 2023 FDA meeting and obtained an FDA Special Protocol Assessment on April 9, 2024 and later Chemistry, Manufacturing, and Controls alignment for a planned Phase 3b registrational ALS trial. The company also highlights non-dilutive funding, including a completed $15.9 million CIRM grant, and its expanding exosome platform. It reports an aggregate market value of non-affiliate equity of $10,496,980 as of June 30, 2025 and 11,034,775 common shares outstanding as of March 27, 2026, and notes that its stock was delisted from Nasdaq in July 2025 and now trades on the OTCQB.
BrainStorm Cell Therapeutics Inc. reported full-year 2025 results and a corporate update, highlighting a strategic $2.0 million post–year-end financing to support its NurOwn ALS program and planned Phase 3b confirmatory study under a Special Protocol Assessment with the FDA.
For 2025, the company recorded a net loss of $10.3 million, or $1.11 per share, with operating expenses of $4.2 million for research and development and $5.8 million for general and administrative activities. At December 31, 2025, cash and cash equivalents were $29,000, total assets were $1.0 million, and total liabilities were $11.0 million, resulting in a stockholders’ deficit of $10.0 million.
Brainstorm Cell Therapeutics Inc. entered a Securities Purchase Agreement with an accredited investor for up to $1,000,000 in a private placement of common stock and pre-funded warrants, to be completed in up to eight closings. The first closing on February 24, 2026 delivered $125,000, with up to $875,000 remaining at investor-determined timings.
Securities are priced at $0.60 per share, with pre-funded warrants priced at $0.60 less $0.0005 and exercisable at $0.00005 per share. The company will also issue common warrants exercisable at $1.00 for 120% of the shares and pre-funded warrants purchased. Proceeds are earmarked for working capital, and the company committed to register the resale of these securities and to maintain its stock market listing.
The board also approved amendments to its 2014 stock and global option plans, increasing the shared equity pool by 5,500,000 shares to a total of 8,406,666 shares of common stock available for equity awards to employees, officers and directors.
Brainstorm Cell Therapeutics Inc. entered into a Securities Purchase Agreement for a $1,000,000 private placement of common stock and pre-funded warrants with an accredited investor, split into two closings of $500,000 each at a purchase price of $0.60 per share.
The investor may instead receive pre-funded warrants priced at $0.60 less $0.0005, with an exercise price of $0.00005 per share, to stay within beneficial ownership limits of 4.99% or 9.99%. The company will also issue common stock purchase warrants exercisable at $1.00 per share for 120% of the shares and pre-funded warrants purchased.
The first closing occurred on February 9, 2026, with the second scheduled 30 days later under the agreement’s conditions. Brainstorm Cell plans to use the net proceeds for working capital and has committed to register the resale of the securities and maintain the listing of its common stock and warrant shares.
Brainstorm Cell Therapeutics Inc. entered into three short-term financing deals through unsecured promissory and convertible notes with institutional investors. On December 31, 2025, it issued a note with a principal amount of $94,300 to Vanquish Funding Group Inc., receiving $82,000 in proceeds and allowing for additional tranches of up to $2,000,000 subject to further agreement. On January 5, 2026, it issued a $94,875 convertible note to Quick Capital, LLC for approximately $80,000 in proceeds. On January 6, 2026, it issued a $140,000 convertible note to Auctus Fund, LLC for $126,000 in cash proceeds before fees.
The notes carry one-time interest charges of 10% or 12%, fixed maturities around 12 months, and scheduled amortization payments. Conversion to common stock is generally at a discount to recent trading prices, subject to a 4.99% beneficial ownership cap, with higher conversion rights or penalties triggered by events of default. The Auctus agreement also includes piggy-back registration rights, a most favored nation provision, prohibitions on certain variable rate deals, and a right to apply portions of future financings to repayment.
BrainStorm Cell Therapeutics (BCLI) filed its Q3 2025 Form 10‑Q. The company reported a nine‑month net loss of $7.9 million and a Q3 loss of $2.1 million. Cash and cash equivalents were $5 thousand with total cash, cash equivalents and restricted cash of $236 thousand at period end. Total assets were $1.38 million against current liabilities of $9.02 million, leaving a stockholders’ deficit of $7.69 million.
Management disclosed substantial doubt about the company’s ability to continue as a going concern. On July 18, 2025, trading moved to the OTCQB after Nasdaq delisted the stock for failing the minimum stockholders’ equity requirement. During the first nine months, BCLI raised funds via an ATM program (gross $4.47 million), facilitated warrant exercises of 1,381,383 shares under an inducement agreement, and completed a debt‑for‑equity swap of 281,250 shares for $450 thousand of payables.
Operating cash outflow was $6.24 million for the nine months, largely offset by $6.10 million of financing inflows. Subsequent to quarter‑end, on Oct 31, 2025, the company issued a $182,400 promissory note, receiving $155,000 in proceeds.
Brainstorm Cell Therapeutics (BCLI) entered a Securities Purchase Agreement with Labrys Fund II, L.P. and issued a promissory note with $143,750 principal (including $18,750 original issue discount). The Company received $121,500 in funds after $3,500 in legal fees. The note is convertible upon an event of default into common stock at a 25% discount to the lowest trading price over the prior 20 trading days, subject to a 4.99% beneficial ownership limit.
Scheduled payments of $22,589 are due on May 11, June 10, July 10, August 10, September 10, and October 9, 2026, with the remaining balance due at maturity on November 10, 2026. The note and any conversion shares are being issued in a private placement exempt from registration under Section 4(a)(2). The Company also announced financial results for the quarter ended September 30, 2025 via a press release furnished as an exhibit.
Brainstorm Cell Therapeutics entered a securities purchase agreement with Vanquish Funding Group and issued a promissory note with $182,400 principal (including $22,400 original issue discount). The Company received $155,000 in funds after $5,000 in combined legal and due diligence fees.
The Note bears 12% interest, increasing to 22% if not timely paid, and matures on August 30, 2026. Scheduled payments are $102,144 on April 30, 2026 and $25,536 on each of May 30, 2026, June 30, 2026, July 30, 2026, and August 30, 2026. Upon an event of default, the Note is convertible into common stock at a 35% discount to the lowest trading price over the prior 10 trading days, subject to a 4.99% beneficial ownership limitation.
The agreement provides that, subject to further agreement between the parties, Vanquish may offer additional financing tranches over the next 12 months of up to $2,000,000 in aggregate. Conversion shares, if issued under the Note, are intended to be exempt from registration under Section 4(a)(2).