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Brainstorm Cell Therapeutics Inc. (BCLI-0.41%) has submitted its Annual Report on Form 10-K filing for the fiscal year ended December 31, 2024.
The filing provides an overview of the company's business operations, focusing on the development of autologous cellular therapies for neurodegenerative diseases, including ALS, PMS, and AD.
The report highlights that Brainstorm's proprietary technology, NurOwn®, has received Fast Track designation from the FDA and Orphan Drug Status from both the FDA and EMA for ALS.
The company reported a net loss of $11.623 million for the year ended December 31, 2024, compared to a net loss of $17.192 million in the previous year.
Research and development expenses decreased to $4.651 million from $10.746 million in 2023, primarily due to reduced costs related to clinical trials and materials.
General and administrative expenses were $7.042 million, down from $10.693 million in 2023, due to decreased payroll and travel costs.
Brainstorm's cash, cash equivalents, and restricted cash amounted to $371,000 as of December 31, 2024.
The company anticipates needing substantial additional funding to continue its operations and pursue its business objectives, including the commercialization of NurOwn®.
The filing discusses the company's strategic focus on securing regulatory approval for NurOwn® in ALS and expanding its clinical development in PMS and AD.
Brainstorm Cell Therapeutics Inc. continues to face challenges related to regulatory approvals, market acceptance, and competition in the field of neurodegenerative disease treatment.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Brainstorm Cell Therapeutics Inc. annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.