Brainstorm Cell Therapeutics Inc. (OTCQB: BCLI) completed a definitive agreement for a $1 million private placement on February 9, 2026, and publicly disclosed the transaction on February 20, 2026. The financing includes a warrant covering 120 % of the shares issued, a five‑year term, and a strike price of $1.00. Shares were priced at $0.60 each, a premium to the $0.54 closing price on February 9, reflecting investor confidence in the company’s trajectory.
The proceeds will be allocated to regulatory initiatives, prepayment of costs associated with the Phase 3b trial of NurOwn, and general corporate purposes. Brainstorm’s financial position underscores the urgency of the raise: as of September 30, 2025 the company held $0.23 million in cash, a current ratio of 0.06, and a market capitalization of $5.78 million. The company had been delisted from Nasdaq in July 2025 for non‑compliance with shareholder‑equity requirements, and it has recently secured a Special Protocol Assessment with the FDA and is engaged in a Citizen’s Petition for accelerated approval.
"Securing this financing at a premium to the current market is a powerful vote of confidence in the trajectory of Brainstorm," said President and CEO Chaim Lebovits. "The $1.00 warrant strike price, in particular, serves as a clear indicator of where we believe this company is headed as we make final preparations for our planned Phase 3b trial." Lebovits added that the company is "making steady progress toward stabilizing our financial situation and initiating our Phase 3b study of NurOwn, designed to generate confirmatory data to support a potential BLA submission." He also noted that "We have been working closely with our network of clinical sites and with our selected manufacturing partners to ensure operational readiness. We also continue to engage with regulatory authorities and are pleased that the FDA has cleared the planned clinical study. We are committed to working with the ALS community and believe that, if approved, NurOwn will be a valuable therapeutic approach that would slow disease progression and improve quality of life for people afflicted with ALS."
The private placement serves as a short‑term bridge, providing the liquidity needed to keep the Phase 3b trial on schedule while the company seeks additional funding to complete the study and pursue commercialization of its autologous stem‑cell therapy. The transaction’s warrant structure signals management’s expectation of future share price appreciation, aligning investor interests with the company’s long‑term milestones.
The financing underscores investor confidence in Brainstorm’s regulatory strategy and positions the company to move forward with its Phase 3b trial. By securing this capital, Brainstorm can continue to meet regulatory milestones, maintain operational readiness, and advance toward a potential BLA submission, thereby strengthening its prospects for eventual commercialization of NurOwn.
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