Brainstorm Cell Therapeutics Faces Potential Delisting from NASDAQ due to Market Value Compliance Issue

Brainstorm Cell Therapeutics Inc. (NASDAQ: BCLI) recently disclosed in a Form 8-K filing with the Securities and Exchange Commission the precarious situation it faces with the Nasdaq Stock Market, LLC (Nasdaq), regarding its non-compliance with market value listing requirements.

As revealed in the company’s prior Current Report on Form 8-K from July 19, 2024, Brainstorm Cell Therapeutics received written notification from Nasdaq’s Listing Qualifications Staff on July 18, 2024. The notification highlighted that between June 2, 2024, and July 17, 2024, the Company’s Market Value of Listed Securities fell below the required minimum of $35 million for continued listing on The Nasdaq Capital Market, citing Nasdaq Listing Rule 5550(b)(2) as the basis for this requirement.

Following Nasdaq’s directive, Brainstorm Cell Therapeutics was given until January 14, 2025, referred to as the Compliance Date, to rectify the non-compliance with the Market Value of Listed Securities Requirement as per Nasdaq Listing Rule 5810(c)(3)(C.

On January 15, 2025, Brainstorm Cell Therapeutics received another written notice from Nasdaq, indicating that the company had failed to meet the Market Value of Listed Securities Requirement by the Compliance Date. Unless Brainstorm Cell Therapeutics requests an appeal of Nasdaq’s decision to delist the company’s common stock from The Nasdaq Capital Market by January 22, 2025, the delisting will take effect on January 24, 2025.

While Brainstorm Cell Therapeutics has expressed its intention to challenge Nasdaq’s decision, there is no certainty regarding the success of such an appeal and the continued listing of the company’s common stock on The Nasdaq Capital Market. It’s important to note that a request for an appeal will halt the delisting process pending Nasdaq’s final decision.

In light of these developments, investors are advised to exercise caution. The Company’s 8-K filing points out the inclusion of forward-looking statements, emphasizing the uncertainty surrounding the outcome. Brainstorm Cell Therapeutics acknowledges the risks involved and mentions factors that could influence the actual results, urging stakeholders to review these factors as outlined in its Annual Report on Form 10-K previously submitted to the SEC in April 2024.

While Brainstorm Cell Therapeutics considers its forward-looking statements reasonable, it cannot ensure future results. The company does not have an obligation to revise or update any forward-looking statements made in this Current Report on Form 8-K, except if required by law.

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.

Brainstorm Cell Therapeutics Company Profile

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.