Brainstorm Cell Therapeutics, Inc. (NASDAQ: BCLI)

This lawsuit is for anyone who acquired securities in Brainstorm Cell Therapeutics, Inc. (NASDAQ: BCLI) from August 15, 2022 through September 27, 2023.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by concealing the efficacy issues that the FDA had with the Company’s ALS treatment, NurOwn.

On November 10, 2022, Brainstorm Cell disclosed that the U.S. Food and Drug Administration (“FDA”) had rejected its New Biologics License Application (“BLA”) for its ALS treatment, NurOwn. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume. Then, on September 27, 2023, Brainstorm Cell announced the results of the FDA’s review of its resubmitted BLA in which it was determined that there was not substantial evidence to show NurOwn’s effectiveness. Further, the FDA stated that Brainstorm Cell had downplayed the risks associated with NurOwn, and that “the manufacturing information was grossly deficient to ensure adequate product quality.” On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Brainstorm Cell Therapeutics, Inc. (NASDAQ: BCLI) from from August 15, 2022 through September 27, 2023 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights