Brainstorm Cell Therapeutics(BCLI) - 2024 Q3 - Quarterly Results

Financial Performance - Cash, cash equivalents, and restricted cash amounted to approximately $0.35 million as of September 30, 2024, down from$1.3 million as of December 31, 2023[11] - Net loss for Q3 2024 was $2.7 million, compared to a net loss of$1.2 million in Q3 2023, indicating an increase in losses of 125%[12] - Net loss per share for Q3 2024 was $0.51, compared to$0.45 for Q3 2023, reflecting a 13.3% increase in loss per share[13] - The net loss for the nine months ended September 30, 2024, was $(8,650,000), compared to$(11,614,000) in 2023, representing a reduction of about 25.5%[18] - The operating loss for the nine months ended September 30, 2024, was $(8,504,000), an improvement from$(16,635,000) in 2023, showing a decrease in losses of approximately 48.9%[18] - The operating loss for the three months ended September 30, 2024, was $(3,048,000), compared to$(6,035,000) in 2023, indicating a decrease of approximately 49.6%[18] - The net loss for the three months ended September 30, 2024, was $(2,708,000), compared to$(1,226,000) in 2023, reflecting an increase in losses of about 121.5%[18] Expenses - Research and development expenses for Q3 2024 were $1 million, a decrease of 69.7$3.3 million in Q3 2023[12] - General and administrative expenses for Q3 2024 were $2 million, down from$2.7 million in Q3 2023, representing a 25.9% reduction[12] - Research and development expenses for the nine months ended September 30, 2024, were $2,928,000, compared to$9,048,000 for the same period in 2023, indicating a decrease of approximately 67.7%[18] - General and administrative expenses for the nine months ended September 30, 2024, were $5,576,000, down from$7,587,000 in 2023, reflecting a reduction of about 26.5%[18] - Financial expenses for the nine months ended September 30, 2024, were $(11,000), a significant decrease from$91,000 in 2023[18] Liabilities - Total liabilities as of September 30, 2024, were $8.08 million, a decrease from$9.07 million as of December 31, 2023[17] Clinical Trials - The Phase 3b trial of NurOwn is expected to enroll approximately 200 participants with ALS, receiving 3 doses over 24 weeks[5] - The primary efficacy endpoint of the Phase 3b trial will be the change in ALSFRS-R from baseline to week 24 for NurOwn versus placebo[6] - Promising long-term survival benefits were observed in NurOwn treated patients, with a median survival time of 46.6 months compared to 41.1 months for matched controls[10] - BrainStorm entered into a Memorandum of Understanding with Pluri Inc. for the manufacturing of NurOwn for the Phase 3b trial[3] Share Information - Basic and diluted net loss per share from continuing operations for the nine months ended September 30, 2024, was $(1.80), improved from$(4.35) in 2023[18] - The weighted average number of shares outstanding used in computing basic and diluted net loss per share for the nine months ended September 30, 2024, was 4,793,026, compared to 2,683,700 in 2023[18] Warrants Liability - The gain (loss) on change in fair value of Warrants liability for the nine months ended September 30, 2024, was $(135,000), compared to a gain of$4,930,000 in 2023[18]