Brainstorm Cell Therapeutics Reports Q3 2025 Financial Results with Reduced Net Loss

Brainstorm Cell Therapeutics Inc. reported its financial results for the third quarter of 2025, revealing a net loss of $2.1 million for the three months ending September 30, 2025, a decrease from a net loss of $2.7 million during the same period in 2024. For the nine months ended September 30, 2025, the company recorded a net loss of $7.9 million, compared to $8.7 million for the same period in the previous year. The basic and diluted net loss per share improved to $0.19 from $0.51 year-over-year for the third quarter, while the nine-month figures showed a decrease from $1.80 to $0.91.

The company’s total operating expenses for the third quarter were approximately $2.0 million, down from $3.0 million in the prior year. This reduction was primarily attributed to lower general and administrative expenses, which fell to $1.1 million from $2.0 million, driven by decreased payroll, public relations activities, and consulting costs. Research and development expenses for the quarter were $899,000, a slight decrease from $1.0 million in the previous year, reflecting reduced costs in payroll and clinical activities.

In terms of strategic developments, Brainstorm has faced significant challenges, including the delisting of its common stock from Nasdaq due to non-compliance with minimum shareholder equity requirements. Following this, the company’s shares began trading on the OTCQB Venture Market. Additionally, the company has been actively engaged in discussions with the FDA regarding its NurOwn® treatment for ALS, which has undergone various clinical trials. The company withdrew its Biologics License Application (BLA) for NurOwn® in November 2023, a decision made in coordination with the FDA, and is now focusing on a planned Phase 3b registrational trial.

Operationally, Brainstorm has seen an increase in its employee count, now totaling 23, with most senior management based in the U.S. The company continues to leverage its proprietary NurOwn® technology, which aims to treat neurodegenerative diseases, including ALS and progressive multiple sclerosis. The company’s cash, cash equivalents, and restricted cash stood at $236,000 as of September 30, 2025, indicating a need for additional funding to support ongoing operations and clinical trials.

Looking ahead, Brainstorm anticipates the need for substantial additional financing to support its clinical development and commercialization efforts. The company is exploring various funding options, including public and private sales of its common stock and warrants. However, the ability to secure such funding remains uncertain, particularly in light of the recent delisting and ongoing litigation related to its operations. The management has expressed concerns about the company’s ability to continue as a going concern if additional capital is not raised.