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BCLI

Brainstorm Cell Therapeutics Inc.

BCLI

Brainstorm Cell Therapeutics Inc. • NASDAQ
$0.64 ▲ 3.23% (+0.02)
Market Cap $7.06 M
52w High $2.50
52w Low $0.52
Dividend Yield 0%
P/E -0.45
Volume 159
Outstanding Shares 11.03M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $0 $2.573M ▼ $-2.903M ▼ 0% $-0.34 ▲ $-2.522M ▲
Q1-2025 $0 ▼ $3.089M ▼ $-2.864M ▲ 0% ▲ $-0.45 ▲ $-3.037M ▲
Q4-2024 $849K ▲ $3.189M ▲ $-2.973M ▼ -350.177% ▼ $-0.52 ▼ $-3.136M ▼
Q3-2024 $0 $3.048M ▲ $-2.708M ▼ 0% $-0.51 ▲ $-2.989M ▼
Q2-2024 $0 $2.982M $-2.541M 0% $-0.54 $-2.918M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $5K ▼ $872K ▼ $50K ▼ $822K ▲
Q2-2025 $824K ▼ $2.566M ▼ $8.623M ▼ $-6.057M ▲
Q1-2025 $1.644M ▲ $3.571M ▲ $11.028M ▲ $-7.457M ▲
Q4-2024 $187K ▲ $1.832M ▼ $9.596M ▲ $-7.764M ▼
Q3-2024 $168K $2.025M $8.082M $-6.057M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-2.106M ▲ $-1.102M ▲ $0 $313K ▼ $-789K ▲ $-1.102M ▲
Q2-2025 $-2.903M ▼ $-3.502M ▼ $0 $2.701M ▼ $-801K ▼ $-3.502M ▼
Q1-2025 $-2.864M ▲ $-1.631M ▼ $0 ▼ $3.086M ▲ $1.455M ▲ $-1.631M ▼
Q4-2024 $-2.973M ▼ $-1.048M ▲ $12K ▲ $1.058M ▲ $19K ▲ $-1.048M ▲
Q3-2024 $-2.708M $-3.299M $0 $0 $-3.299M $-3.299M

Five-Year Company Overview

Income Statement

Income Statement Brainstorm has essentially no product revenue yet, so its income statement is driven almost entirely by research and development and overhead costs. The company has reported operating losses every year, which is typical for an early‑stage biotech without an approved therapy. The recent appearance of a small net profit is likely driven by one‑off or accounting items rather than a change in the underlying business reality, which remains loss‑making. Earnings per share also look very volatile, largely because of reverse stock splits and a small capital base, rather than because the underlying operations have become more stable or profitable.

Balance Sheet

Balance Sheet The balance sheet is very light: only a small pool of assets and cash, with little to no traditional debt. The main concern is that shareholder equity has recently slipped into negative territory, which reflects years of cumulative losses overtaking the capital that has been put into the company. This combination—thin assets, limited cash, and negative equity—suggests a narrow financial buffer and a high dependence on fresh funding to keep operations and trials moving forward.

Cash Flow

Cash Flow Cash flow tells a clear story of a development‑stage biotech: steady cash outflows from operating activities, tied to R&D, clinical trials, and corporate costs. There is no offsetting inflow from product sales, so free cash flow is consistently negative. The company is not heavily investing in physical assets, which means most cash burn is going straight into research and clinical programs. Going forward, the business will rely on external capital sources—such as equity raises, grants, or partnerships—to sustain its pipeline and trial plans.

Competitive Edge

Competitive Edge Brainstorm sits in a specialized niche within neurodegenerative disease, built around its NurOwn autologous cell therapy platform. Its strengths include proprietary manufacturing know‑how, a sizable body of ALS clinical data, and a differentiated, cell‑based approach compared with conventional drugs. However, the competitive landscape is intense, with larger, better‑funded players targeting ALS and other neurodegenerative conditions through different technologies. The company’s prior late‑stage trial miss, smaller scale, and move to an over‑the‑counter market weaken its standing versus bigger biotech peers, and highlight both regulatory and funding challenges. Manufacturing complexity for patient‑specific therapies also remains a structural hurdle compared with simpler “off‑the‑shelf” options.

Innovation and R&D

Innovation and R&D Innovation is the core strength here. The NurOwn platform is scientifically ambitious, aiming to use a patient’s own cells to deliver multiple protective and immune‑modulating factors directly to the nervous system. Brainstorm is also exploring broader use in multiple sclerosis and potentially other neurodegenerative diseases, and is developing an exosome‑based, off‑the‑shelf platform that could improve scalability. The planned new ALS trial under a special protocol with regulators is an important scientific and regulatory milestone to watch. The main risks are concentration around a single core platform, a history that already includes a failed Phase 3 endpoint, and the reality that future R&D progress will be tightly constrained by the company’s financial capacity.

Summary

Brainstorm Cell Therapeutics is a high‑risk, early‑stage biotech built around an innovative but still unproven cell therapy platform. Financially, it has no meaningful product revenue, persistent operating losses, a very slim balance sheet, and ongoing cash burn, all of which point to a strong reliance on external funding. Strategically, the company offers a distinctive scientific approach in ALS and other neurodegenerative diseases, supported by proprietary technology and clinical experience, but faces tough competition, regulatory uncertainty, and manufacturing complexity. The company’s future hinges on the success of its next ALS trial, its ability to advance the pipeline into new indications and exosome‑based products, and its capacity to secure sufficient capital to support these efforts amid the higher scrutiny and lower visibility that come with trading on an over‑the‑counter market.

NEWS

November 14, 2025 · 4:30 PM UTC

BrainStorm Cell Therapeutics Announces Third Quarter 2025 Financial Results and Provides Corporate Update

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October 27, 2025 · 7:20 AM UTC

Halper Sadeh LLC Encourages Brainstorm Cell Therapeutics Inc. Shareholders to Contact the Firm to Discuss Their Rights

Read more