Brainstorm Cell Therapeutics Inc. reported its financial results for the second quarter of 2026, revealing a net loss of $3.9 million, compared to a loss of $2.9 million in the same period last year. For the six months ending June 30, 2026, the company recorded a net loss of $6.0 million, slightly higher than the $5.8 million loss reported for the first half of 2025. The increase in losses is attributed to rising general and administrative expenses, particularly due to stock-based compensation, which rose to $2.4 million for the six months ended June 30, 2026, compared to $717,000 in the prior year.
Total operating expenses for the second quarter of 2026 were approximately $3.6 million, up from $2.6 million in the same quarter of 2025. Research and development expenses decreased to $963,000 from $1.1 million year-over-year, reflecting reduced costs associated with clinical activities and other operational expenses. The company’s cash, cash equivalents, and restricted cash stood at $209,000 as of June 30, 2026, a decline from $276,000 at the end of 2025.
In terms of strategic developments, Brainstorm has been actively pursuing regulatory approval for its proprietary cell therapy, NurOwn®, aimed at treating neurodegenerative diseases such as amyotrophic lateral sclerosis (ALS). The company withdrew its Biologics License Application (BLA) for NurOwn® in November 2023 after receiving feedback from the FDA indicating that the application was not sufficiently complete for review. Following this, Brainstorm has engaged in discussions with the FDA to outline a path forward, including plans for a Phase 3b registrational trial, which has received a Special Protocol Assessment (SPA) agreement from the FDA.
Operationally, Brainstorm has maintained a workforce of 19 employees across its U.S. and Israeli offices. The company continues to focus on its clinical trials and has made significant investments in research and development, although it has yet to generate revenue from its product candidates. The company’s common stock is currently traded on the OTCQB Venture Market under the symbol "BCLI" after being delisted from Nasdaq in 2025 due to non-compliance with minimum shareholder equity requirements.
Looking ahead, Brainstorm anticipates the need for additional funding to support its clinical development and commercialization efforts. The company is exploring various financing options, including public and private sales of its common stock and warrants, as well as the issuance of convertible promissory notes. Management has expressed uncertainty regarding its ability to secure necessary funding on favorable terms, which could impact its operations and ability to continue as a going concern.
About BRAINSTORM CELL THERAPEUTICS INC.
BrainStorm Cell Therapeutics Inc. is a biotechnology company specializing in autologous cellular therapies for neurodegenerative diseases such as ALS, progressive multiple sclerosis, and Alzheimer’s. Its proprietary NurOwn® platform uses patients’ own bone marrow-derived mesenchymal stem cells induced to secrete neurotrophic factors, aiming to modulate neuroinflammation, promote neuronal survival, and improve neurological function. The company focuses on clinical development, manufacturing, and commercialization of these cell therapies primarily in the U.S. and Europe.
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