NEW YORK, May 15, 2026 /PRNewswire/ -- BrainStorm Cell Therapeutics Inc. (OTCQB: BCLI), a leading developer of adult stem cell therapeutics for neurodegenerative diseases, today announced financial results for the three months ended March 31, 2026, and provided a corporate update.
"The team at BrainStorm is focused on completing the final steps required to initiate our planned Phase 3 ENDURANCE study of NurOwn in ALS," said Chaim Lebovits, President and CEO. "Site activation and regulatory engagement are all progressing, and, subject to securing the necessary financing, we are well positioned to move into manufacturing and enrollment phases. ENDURANCE is designed to enroll patients with earlier-stage disease, where NurOwn's mechanism has the greatest opportunity to demonstrate benefit. ALS is a devastating illness with limited therapeutic options, and we remain committed to the community to complete NurOwn's development and make it available to those who need it."
Recent Highlights
-- BrainStorm continues its preparations for the Phase 3b ENDURANCE study of
NurOwn, with clinical sites on standby and manufacturing and operational
activities well underway. The planned study is expected to enroll
approximately 200 participants across leading ALS centers and is designed
as a two-part trial: a 24-week randomized, double-blind,
placebo-controlled segment (Part A) followed by a 24-week open-label
extension (Part B) to further characterize long-term safety and
durability of effect. The primary efficacy endpoint will measure change
from baseline to Week 24 on the ALSFRS-R scale.
-- ENDURANCE Part A completion expected to support new BLA submission.
Successful completion of Part A of the study is anticipated to generate
the clinical data required to support a new Biologics License Application
(BLA) submission for NurOwn. Further trial details are posted on
ClinicalTrials.gov ID NCT06973629.
Corporate
-- In February 2026, the company entered into two strategic private
placement agreements, each consisting of stock and warrants, securing a
total of $2 million in funding. Together, these financings are expected
to reinforce a stable valuation for the company and provide the resources
to support near-term operational objectives and preparatory work for the
planned Phase 3b ENDURANCE trial of NurOwn.
-- On May 4, 2026, the Company entered into two additional private placement
agreements with accredited investors, issuing an aggregate of 210,526
shares of Common Stock at $0.95 per share, together with warrants to
purchase up to 252,630 shares of Common Stock at an exercise price of
$1.45 per share, generating aggregate gross proceeds of $200,000. The
proceeds are intended to support working capital and general corporate
purposes.
Financial Results for the Three Months Ended March 31, 2026
-- Cash, cash equivalents, and restricted cash were approximately $0.2
million as of March 31, 2026, compared to approximately $0.3 million as
of December 31, 2025.
-- Research and development expenditures, net, for the three months ended
March 31, 2026 were approximately $0.8 million, compared to approximately
$1.3 million for the three months ended March 31, 2025.
-- General and administrative expenses for the three months ended March 31,
2026 were approximately $1.3 million, compared to approximately $1.8
million for the three months ended March 31, 2025.
-- Net loss for the three months ended March 31, 2026 was approximately $2.1
million, as compared to a net loss of approximately $2.9 million for the
three months ended March 31, 2025.
-- Net loss per share for the three months ended March 31, 2026 and 2025 was
$(0.19) and $(0.45), respectively.
BRAINSTORM CELL THERAPEUTICS INC. AND SUBSIDIARIES
INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS
U.S. dollars in thousands
(Except share and per share amounts)
March 31, December 31,
---------- --------------
2026 2025
---------- --------------
Unaudited Audited
---------- --------------
U.S. $ in thousands
--------------------------
ASSETS
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Current Assets:
Cash and cash equivalents $ 15 $ 29
Other accounts receivable 122 86
Prepaid expenses and other current assets 47 192
--------- ----------
Total current assets $ 184 $ 307
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Long-Term Assets:
Prepaid expenses and other long-term assets $ 25 $ 25
Restricted Cash 191 247
Right of use asset (Note 3) 157 208
Property and equipment, net 198 235
--------- ----------
Total Long-Term Assets $ 571 $ 715
========= ==========
Total assets $ 755 $ 1,022
========= ==========
LIABILITIES AND STOCKHOLDERS' EQUITY
(DEFICIT)
-------------------------------------------
Current Liabilities:
Accounts payable $ 7,317 $ 7,067
Accrued expenses 414 396
Short-term loans (Note 6) 1,329 967
Operating lease liability (Note 3) 159 208
Employees related liability 2,545 2,369
--------- ----------
Total current liabilities $ 11,764 $ 11,007
--------- ----------
Total liabilities $ 11,764 $ 11,007
Stockholders' Deficit:
Stock capital: (Note 4) 16 16
Common stock $0.00005 par
value; 250,000,000 shares authorized
and 11,034,775 shares issued and
outstanding
Additional paid-in-capital 228,161 227,058
Treasury stock (116) (116)
Accumulated deficit (239,070) (236,943)
--------- ----------
Total stockholders' deficit $ (11,009) $ (9,985)
========= ==========
Total liabilities and stockholders' deficit $ 755 $ 1,022
========= ==========
The accompanying notes are an integral part of the consolidated
financial statements.
BRAINSTORM CELL THERAPEUTICS INC. AND SUBSIDIARIES INTERIM CONDENSED
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (UNAUDITED) U.S. dollars
in thousands (Except share and per share amounts)
Three months ended
-----------------------
March 31,
-----------------------
2026 2025
----------- ----------
Unaudited
-----------------------
Operating expenses:
Research and development, net $ 762 $ 1,304
General and administrative 1,284 1,785
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Operating loss (2,046) (3,089)
Financial income (expense), net (81) 46
Change in fair value of warrant liability -- 179
---------- ---------
Net loss $ (2,127) $ (2,864)
========== =========
Basic and diluted net loss per share $ (0.19) $ (0.45)
========== =========
Weighted average number of shares
outstanding used in computing basic and
diluted net loss per share 11,034,775 6,342,002
========== =========
The accompanying notes are an integral part of the consolidated
financial statements.
About NurOwn(R)
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