Q2 2024 Brainstorm Cell Therapeutics Inc Earnings Call Transcript
Key Points
- Secured a written SPA agreement from the FDA, derisking the NurOwn asset.
- Reached alignment with the FDA on CMC aspects of the Phase 3 trial.
- Actively pursuing non-dilutive funding, including a promising grant application for up to $15 million.
- Selected a leading CRO and building a network of over 12 clinical centers for broad patient access.
- Reduced net loss significantly from $5.3 million in Q2 2023 to $2.5 million in Q2 2024.
- NASDAQ notification to maintain a $1 share price for 10 consecutive trading days by October 28 or risk delisting.
- Need to achieve a $35 million market cap to avoid delisting.
- Potential shareholder dilution with the proposed increase in authorized shares from 100 million to 250 million.
- Uncertainty around the exact costs of the upcoming Phase 3b trial and production costs.
- Dependence on securing non-dilutive funding and strategic partnerships to bolster financial position.
Greetings, and welcome to the Brainstorm Cell Therapeutics Second Quarter 2024 Conference Call. At this time, participants are in a listen-only mode. As a reminder, this call is being recorded.
And I would now like to introduce your host for today's call, Michael Wood of LifeSci Advisors. Mr. Wood, you may begin.
Good morning, everyone, and thank you for joining us today. Before passing it off to company management for prepared remarks, I would like to remind listeners that this conference call contains numerous statements, descriptions, forecasts, and projections regarding Brainstorm Cell Therapeutics and its potential future business operations and performance, statements regarding the market potential for the treatment of neurodegenerative disorders such as ALS, the sufficiency of the company's existing capital resources for continuing operations in 2024 and beyond, the safety and clinical effectiveness of the NurOwn Technology Platform, clinical trials of NurOwn and related clinical development programs and the
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