"The team at BrainStorm is focused on completing the final steps required to initiate our planned Phase 3 ENDURANCE study of NurOwn in ALS," said Chaim Lebovits, President and CEO. "Site activation and regulatory engagement are all progressing, and, subject to securing the necessary financing, we are well positioned to move into manufacturing and enrollment phases. ENDURANCE is designed to enroll patients with earlier-stage disease, where NurOwn's mechanism has the greatest opportunity to demonstrate benefit. ALS is a devastating illness with limited therapeutic options, and we remain committed to the community to complete NurOwn's development and make it available to those who need it."
Recent Highlights
NurOwn® (MSC-NTF) for ALS
BrainStorm continues its preparations for the Phase 3b ENDURANCE study of NurOwn, with clinical sites on standby and manufacturing and operational activities well underway. The planned study is expected to enroll approximately 200 participants across leading ALS centers and is designed as a two-part trial: a 24-week randomized, double-blind, placebo-controlled segment (Part A) followed by a 24-week open-label extension (Part B) to further characterize long-term safety and durability of effect. The primary efficacy endpoint will measure change from baseline to Week 24 on the ALSFRS-R scale.
ENDURANCE Part A completion expected to support new BLA submission. Successful completion of Part A of the study is anticipated to generate the clinical data required to support a new Biologics License Application (BLA) submission for NurOwn. Further trial details are posted on ClinicalTrials.gov ID NCT06973629.
Corporate
In February 2026, the company entered into two strategic private placement agreements, each consisting of stock and warrants, securing a total of $2 million in funding. Together, these financings are expected to reinforce a stable valuation for the company and provide the resources to support near-term operational objectives and preparatory work for the planned Phase 3b ENDURANCE trial of NurOwn.
On May 4, 2026, the Company entered into two additional private placement agreements with accredited investors, issuing an aggregate of 210,526 shares of Common Stock at $0.95 per share, together with warrants to purchase up to 252,630 shares of Common Stock at an exercise price of $1.45 per share, generating aggregate gross proceeds of $200,000. The proceeds are intended to support working capital and general corporate purposes.
Financial Results for the Three Months Ended March 31, 2026
Cash, cash equivalents, and restricted cash were approximately $0.2 million as of March 31, 2026, compared to approximately $0.3 million as of December 31, 2025.
Research and development expenditures, net, for the three months ended March 31, 2026 were approximately $0.8 million, compared to approximately $1.3 million for the three months ended March 31, 2025.
General and administrative expenses for the three months ended March 31, 2026 were approximately $1.3 million, compared to approximately $1.8 million for the three months ended March 31, 2025.
Net loss for the three months ended March 31, 2026 was approximately $2.1 million, as compared to a net loss of approximately $2.9 million for the three months ended March 31, 2025.
Net loss per share for the three months ended March 31, 2026 and 2025 was $(0.19) and $(0.45), respectively.
BRAINSTORM CELL THERAPEUTICS INC. AND SUBSIDIARIES INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS U.S. dollars in thousands (Except share and per share amounts)
March 31,
December 31,
2026
2025
Unaudited
Audited
U.S. $ in thousands
ASSETS
Current Assets:
Cash and cash equivalents
$
15
$
29
Other accounts receivable
122
86
Prepaid expenses and other current assets
47
192
Total current assets
$
184
$
307
Long-Term Assets:
Prepaid expenses and other long-term assets
$
25
$
25
Restricted Cash
191
247
Right of use asset (Note 3)
