Brainstorm Cell Therapeutics Faces Delisting Notice

TL;DR

Brainstorm Cell Therapeutics got a delisting warning - stock might be delisted.

AI Summary

Brainstorm Cell Therapeutics Inc. filed an 8-K on July 18, 2024, to report a notice of delisting or failure to satisfy a continued listing rule. The company, incorporated in Delaware, is facing potential delisting from its stock exchange.

Why It Matters

This filing indicates potential delisting, which could significantly impact the liquidity and trading of the company's stock.

Risk Assessment

Risk Level: high — A notice of delisting poses a significant risk to the company's continued operation and investor confidence.

Key Players & Entities

• BRAINSTORM CELL THERAPEUTICS INC. (company) — Registrant
• July 18, 2024 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of incorporation
• 001-36641 (identifier) — Commission File Number

FAQ

Key Financial Figures

• $0.00005 — nge on which registered Common Stock, $0.00005 par value BCLI NASDAQ Stock Market L
• $35 million — ities ("MVLS") was below the minimum of $35 million required for continued listing on The N

Filing Documents

• tm2419839d1_8k.htm (8-K) — 30KB
• 0001104659-24-081162.txt ( ) — 201KB
• bcli-20240718.xsd (EX-101.SCH) — 3KB
• bcli-20240718_lab.xml (EX-101.LAB) — 33KB
• bcli-20240718_pre.xml (EX-101.PRE) — 22KB
• tm2419839d1_8k_htm.xml (XML) — 4KB

01 Notice of Delisting or Failure to Satisfy Continued Listing

Item 3.01 Notice of Delisting or Failure to Satisfy Continued Listing Rule or Standard; Transfer of Listing. On July 18, 2024, Brainstorm Cell Therapeutics Inc. (the "Company") received a letter (the "MVLS Deficiency Notice") from the listing qualifications department staff (the "Staff") of The Nasdaq Stock Market ("Nasdaq") notifying the Company that from June 2, 2024 to July 17, 2024, the Company's Market Value of Listed Securities ("MVLS") was below the minimum of $35 million required for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(b)(2) (the "MVLS Requirement"). The MVLS Deficiency Notice has no immediate effect on the listing of the Company's common stock, and the Company's common stock continues to trade on the Nasdaq Capital Market under the symbol "BCLI." In accordance with Nasdaq Listing Rule 5810(c)(3)(C), the Company has 180 calendar days from the date of the MVLS Deficiency Notice, or until January 14, 2025 (the "Compliance Date"), to regain compliance with respect to the MVLS Requirement. The MVLS Deficiency Notice states that to regain compliance with the MVLS Requirement, the Company's MVLS must close at $35 million or more for a minimum of ten consecutive business days during the compliance period ending on the Compliance Date. If the Company does not regain compliance by the Compliance Date, Nasdaq will provide written notice to the Company that its securities are subject to delisting. At that time, the Company may appeal any such delisting determination. However, there can be no assurance that, if the Company receives a delisting notice from the Staff and appeals the delisting determination, such appeal would be successful. The Company intends to actively monitor the Company's MVLS between now and the Compliance Date and will take all reasonable measures available to the Company to regain compliance with the MVLS Requirement. While the Company is exercising diligent efforts to maintain the listing of it

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

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: July 19, 2024 By: /s/ Chaim Lebovits Chaim Lebovits Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR