BrainStorm Cell Therapeutics Inc. (NASDAQ:BCLI), a leading developer of cellular therapies for neurodegenerative diseases, announced today financial results for the third quarter ended September 30, 2020, and provided a corporate update.
The company reported net loss for the three months ended on September 30, 2020 was $ 4.49 million or loss of $ 0.14 per share, as compared to a net loss of $ 5.63 million or loss of $ 0.25 per share for the three months ended September 30, 2019. Analysts surveyed by Thomson Reuters are predicting, BCLI to report third quarter loss of $ 0.26 per share.
During the third quarter of fiscal year 2020, BrainStorm completed dosing of all patients in the ongoing NurOwn Phase 3 clinical trial in ALS and plans remains on track to report top-line data by the end of November 2020. A Phase 2 trial evaluating NurOwn® as a treatment for progressive multiple sclerosis (PMS) is ongoing at 5 leading U.S. multiple sclerosis centers. The Company remains on track to complete dosing by year end 2020.
Chaim Lebovits, Chief Executive Officer of BrainStorm Cell Therapeutics, said, The most important near-term event for BrainStorm will be the upcoming top-line data readout for the NurOwn® Phase 3 trial in ALS, expected by the end of November. A successful outcome will set us on the path to filing a Biologic License Application (BLA) for what we believe will be a valuable new treatment for ALS.
