Brainstorm Cell Therapeutics Inc. closed a second definitive agreement for a $1 million strategic private placement on February 26 2026, bringing the total capital raised in February to $2 million. The placement was executed at a price of $0.60 per share, with accompanying warrants exercisable at $1.00 per share.
The company reported that its most recent filing shows cash and cash equivalents of roughly $1 million, a significant increase from the $236,000 figure cited in earlier reports. The placement adds to the company’s working‑capital pool and extends its runway, which is currently projected to exceed $8 million in annual burn.
Proceeds will be directed toward working capital and general corporate purposes, with a focus on advancing the NurOwn® platform. The company is preparing to launch the Phase 3b ENDURANCE trial under a Special Protocol Assessment with the FDA, a study that is estimated to cost $20‑30 million annually.
Brainstorm remains a development‑stage biotechnology firm with no revenue and a high risk profile. Its market capitalization is approximately $6.88 million as of February 26 2026, and it has faced multiple regulatory setbacks, including a refusal of an earlier FDA review and a withdrawal of a prior application. The company’s Orphan Drug designation for ALS provides a potential pathway, but the high burn rate and the substantial cost of the upcoming trial underscore the urgency of additional capital.
CEO Chaim Lebovits said, "We believe that securing a cumulative $2 million in a single week establishes a floor for our valuation and reflects the market's growing confidence in our trajectory." He added, "While the stock has shown positive momentum, our strategic investors are focused on the $1.00 warrant target." Lebovits also noted, "Securing this financing at a premium to the current market is a powerful vote of confidence in the trajectory of Brainstorm." He further emphasized, "Our partners have recognized the immense potential of our regulatory and clinical path to advance NurOwn as an innovative treatment for ALS."
The company also highlighted that it is now positioned to swiftly activate clinical sites in a phased manner, diligently preparing to enroll the first patient in the Phase 3b trial. In a Q2 2025 update, Lebovits reaffirmed, "our top priority is advancing NurOwn into our planned Phase IIIb clinical trial." The SPA agreement with the FDA and the company’s history of regulatory challenges add both a critical milestone and a reminder of the hurdles ahead.
While the $1 million placement provides a short‑term lifeline, Brainstorm’s continued reliance on external financing and the high cost of its clinical program mean that the company’s long‑term prospects remain uncertain. Investors will likely view the financing as a necessary step, but the company’s ability to secure additional capital and achieve regulatory approval will be key determinants of its future trajectory.
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