Brainstorm Cell Therapeutics Faces Delisting Concerns

TL;DR

Brainstorm Cell Therapeutics might get delisted - big trouble.

AI Summary

Brainstorm Cell Therapeutics Inc. filed an 8-K on May 1, 2024, to report a notice of delisting or failure to satisfy a continued listing rule. The company is based in New York and incorporated in Delaware.

Why It Matters

This filing indicates potential issues with Brainstorm Cell Therapeutics' compliance with stock exchange listing requirements, which could impact its stock trading and investor confidence.

Risk Assessment

Risk Level: high — A notice of delisting or failure to meet listing standards poses a significant risk to the company's continued trading on an exchange.

Key Players & Entities

• BRAINSTORM CELL THERAPEUTICS INC. (company) — Registrant
• May 1, 2024 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of incorporation
• 20240501 (date) — Conformed period of report

FAQ

Key Financial Figures

• $0.00005 — nge on which registered Common Stock, $0.00005 par value BCLI NASDAQ Stock Market L
• $1.00 m — Company was not in compliance with the $1.00 minimum bid price requirement set forth i

Filing Documents

• tm2413371d1_8k.htm (8-K) — 31KB
• 0001104659-24-056971.txt ( ) — 203KB
• bcli-20240501.xsd (EX-101.SCH) — 3KB
• bcli-20240501_lab.xml (EX-101.LAB) — 33KB
• bcli-20240501_pre.xml (EX-101.PRE) — 22KB
• tm2413371d1_8k_htm.xml (XML) — 4KB

01 Notice of Delisting or Failure to Satisfy a Continued

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing As previously disclosed on a Current Report on Form 8-K filed on November 3, 2023, Brainstorm Cell Therapeutics Inc. (the "Company") received a notice in the form of a letter (the "Notice") from the Listing Qualifications department (the "Staff") of The Nasdaq Stock Market ("Nasdaq") on November 1, 2023 notifying the Company that the Company was not in compliance with the $1.00 minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market (the "Minimum Bid Price Requirement"). The Notice also indicated that the Company would have 180 calendar days from the date of the Notice, or until April 29, 2024, to regain compliance with the Minimum Bid Price Requirement pursuant to Nasdaq Listing Rule 5810(c)(3)(A). On May 1, 2024, the Company received a staff determination letter ("Staff Letter") from the Staff of Nasdaq indicating that the Company had not regained compliance with the Minimum Bid Price Requirement by April 29, 2024. Pursuant to the Nasdaq Listing Rules and the Staff Letter, if the Company does not request an appeal of the Staff's determination by May 8, 2024, the Company's securities will be scheduled for delisting from The Nasdaq Capital Market and will be suspended at the opening of business on May 10, 2024, and a Form 25-NSE will be filed with the Securities and Exchange Commission (the "SEC"), which will remove the Company's securities from listing and registration on Nasdaq. On May 2, 2024, the Company submitted a hearing request to the Nasdaq Hearings Panel (the "Panel") to appeal the Staff's determination. On the same day, the Company received a letter from Nasdaq notifying the Company that, among other things, (i) the Panel hearing has been scheduled, (ii) the hearing request submitted by the Company has stayed the suspension of the Company's securities and the filing of the Fo

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 104 Cover Page Interactive Data File

Forward-Looking Statements

Forward-Looking Statements This Current Report on Form 8-K contains forward-looking statements. These express or implied statements are not promises or guarantees and involve substantial risks and uncertainties. Examples of forward-looking Minimum Bid Price Requirement, the Company's expectation that a request for a Panel hearing would stay delisting of its securities pending the conclusion of the hearing process, the outcome of the Panel's review of any Company appeal of the Staff's determination, and any courses of action to regain compliance with the Nasdaq continued listing requirements. Forward-looking statements are statements that are not historical facts, nor assurances of future performance. Instead, they are based on the Company's current beliefs, expectations and assumptions regarding the future of its business, future plans, strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent risks and uncertainties, and actual results may differ materially from those set forth in the forward-looking statements. Important factors that could cause actual results to differ include, without limitation, there can be no assurance that the Company will meet the Minimum Bid Price Requirement within the required timeframe or otherwise in the future, or otherwise meet Nasdaq's compliance standards, that Nasdaq will grant the Company any relief from the scheduled delisting as necessary or whether the Company can ultimately meet applicable Nasdaq requirements for any such relief. These forward-looking statements should be considered together with the risks and uncertainties that may affect the Company's business and future results included in the Company's filings with the SEC at www.sec.gov. These forward-looking

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BRAINSTORM CELL THERAPEUTICS INC. Date: May 3, 2024 By: /s/ Chaim Lebovits Chaim Lebovits Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR