BrainStorm Cell Therapeutics (BCLI) Update 23072024
BrainStorm Cell Therapeutics Inc. (Nasdaq: BCLI) develops NurOwn® stem cell therapy for NDDs – BCLI’s first target is ALS (MND/Lou Gehrig’s). Since initiation – CMC FDA questions resolved, commercialization team in place, raised US$ 4m (gross) enabling PIIIb rollout start, signed a CRO and lined up a commercial manufacturer, shortening the BLA timeline. Whilst the US$ 4m raise and new warrants dilution effect has reduced our value range ~5%, it remains well above our >10x return investment hypothesis. Due to the significant derisking progress news, our highly conservative NPV (smaller US market only) has been raised. New beta remains highly conservative at 1.0 and reduces our risk adjusted WACC. The new (+old) total ~20.7m warrants at 0.39c offer a further potential US$ 8.1m of cash inflows. BCLI is also exploring non-dilutive grant funds (past success).Brainstorm Cell Therapeutics is a biotechnology company engaged in the development and commercialization of autologous cellular therapies for the treatment of neurodegenerative diseases including: Amyotrophic Lateral Sclerosis; Progressive Multiple Sclerosis; and Parkinson's disease. NurOwn? technology is based on manufacturing protocol, which induces the differentiation of purified and expanded bone marrow-derived mesenchymal stem cells and consistently generates cells that release multiple neurotrophic factors to modulate neuroinflammatory and neurodegenerative disease processes, promote neuronal survival and improve neurological function.
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