Brainstorm Cell Therapeutics (BCLI) Registration Filing summary

Company overview and business model

• Focuses on developing and commercializing autologous cellular therapies for neurodegenerative diseases, including ALS, PMS, and AD.

• Proprietary NurOwn® platform uses bone marrow-derived mesenchymal stem cells to secrete neurotrophic factors and modulate disease processes.

• NurOwn® has completed Phase 3 ALS and Phase 2 PMS trials; ongoing regulatory engagement for ALS in the U.S.

• Holds exclusive commercialization rights for NurOwn® via an Israeli subsidiary and licensing agreement with Ramot.

• Granted Fast Track and Orphan Drug status by FDA and EMA for ALS; maintains a robust IP portfolio.

Financial performance and metrics

• As of July 31, 2024, public float is $31.6 million, with 75,269,777 shares held by non-affiliates.

• Sold approximately $4.76 million in securities in the 12 months prior to the filing.

• Net tangible book value as of June 30, 2024, was negative $3.5 million, or $(0.0443) per share.

• After the offering, as adjusted net tangible book value would be $0.0182 per share, with dilution of $0.2706 per share to new investors at the assumed offering price.

Use of proceeds and capital allocation

• Proceeds will be used for general corporate purposes, including R&D, sales and marketing, clinical studies, manufacturing, acquisitions or licensing, debt repayment, working capital, and capital expenditures.

• Management retains broad discretion over allocation; funds may be temporarily invested in capital preservation instruments.