Brainstorm Cell Therapeutics, Inc. is a development stage company engaged in the research of therapeutic products. The company concentrates on the technology that enables the in vitro differentiation of bone marrow stem cells to neural-like cells. The technology allows to process human mesenchymal stem cells, which are found in bone marrow and are capable of self-renewal, as well as differentiation into other tissues. The company uses stem cells taken from the bone marrow of adults rather than experimenting with embryonic stem cells.
The potential for the company's products is rather large. The adult stem cell therapy proves to be the safer approach at curing and treating neurodegenerative diseases than competitive embryonic stem cell therapy. The treatment with adult stem-cells also bears less risk of cancer. From the practical side the company is already in development of a treatment for Parkinson disease and continues studies for ALS (Lou Gehrig's Disease).
For the last quarter ended September 30, 2007, the company had no revenues and incurred a net loss of $1.4 million which was 26.9% more than previous quarter. The stockholder equity has still decreased in negative value by 29.1% and was $-2.1 million for the quarter as were the net tangible assets.
On November 12, 2008, the company has completed an equity financing closing with ACCBT Corp. for the investment of $750,000. The money are planned to be used to build a Vivarian facility in Israel. The vivarium would allow Brainstorm to conduct the pre-clinical experiments in-house and would speed up research towards an FDA Pre-IND submission.
On January 7, 2008, the company has also announced they have joined forces with Rutgers University in the research to develop a cure for spinal cord injuries. The company's achievements in stem cell researches can be accommodated to treat damages caused by spinal cord injuries. With 10 to 20 thousand spine cord injuries every year in the United States alone the demand for a way of effective treatment is very large.
The company has a subscription agreement with ACCBT Corp. by which they are to invest up to $5 million in Brainstorm by quarterly payments of $750 thousand till November 15, 2008. Along with issuance of common stock these investments are currently the only financing source for Brainstorm. According to the SEC filing sent on September 30, 2007, the company is very heavy leveraged and had only $275 thousand in cash at that time. The plans concerning new research facility are high-sounding however there is no guaranty the company will be adequately financed to finish their researches especially after discontinuation of capital infusions from ACCBT.
The potential for the company's products is rather large. The adult stem cell therapy proves to be the safer approach at curing and treating neurodegenerative diseases than competitive embryonic stem cell therapy. The treatment with adult stem-cells also bears less risk of cancer. From the practical side the company is already in development of a treatment for Parkinson disease and continues studies for ALS (Lou Gehrig's Disease).
For the last quarter ended September 30, 2007, the company had no revenues and incurred a net loss of $1.4 million which was 26.9% more than previous quarter. The stockholder equity has still decreased in negative value by 29.1% and was $-2.1 million for the quarter as were the net tangible assets.
On November 12, 2008, the company has completed an equity financing closing with ACCBT Corp. for the investment of $750,000. The money are planned to be used to build a Vivarian facility in Israel. The vivarium would allow Brainstorm to conduct the pre-clinical experiments in-house and would speed up research towards an FDA Pre-IND submission.
On January 7, 2008, the company has also announced they have joined forces with Rutgers University in the research to develop a cure for spinal cord injuries. The company's achievements in stem cell researches can be accommodated to treat damages caused by spinal cord injuries. With 10 to 20 thousand spine cord injuries every year in the United States alone the demand for a way of effective treatment is very large.
The company has a subscription agreement with ACCBT Corp. by which they are to invest up to $5 million in Brainstorm by quarterly payments of $750 thousand till November 15, 2008. Along with issuance of common stock these investments are currently the only financing source for Brainstorm. According to the SEC filing sent on September 30, 2007, the company is very heavy leveraged and had only $275 thousand in cash at that time. The plans concerning new research facility are high-sounding however there is no guaranty the company will be adequately financed to finish their researches especially after discontinuation of capital infusions from ACCBT.
