NEW YORK, Dec. 28, 2023 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Brainstorm Cell Therapeutics Inc. (“Brainstorm” or the “Company”) (NASDAQ: BCLI). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Brainstorm and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On September 27, 2023, the Company announced in a press release the results of the United States Food and Drug Administration’s (“FDA”) review of its Biologics License Application (“BLA”) for the Company’s proprietary cell therapy platform NurOwn for the treatment of amyotrophic lateral sclerosis. The release revealed that members of the Cellular, Tissue, and Gene Therapies Advisory Committee voted 17 to 1 that there was not substantial evidence to show NurOwn’s effectiveness. Specifically, the FDA’s briefing document stated that the BLA was scientifically incomplete to demonstrate substantial evidence of effectiveness, and that the manufacturing information was grossly deficient to ensure adequate product quality.
On this news, Brainstorm’s stock price fell $0.19 per share, or 48.72%, to close at $0.20 per share on September 28, 2023.
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CONTACT:Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980
SOURCE Pomerantz LLP