NEW YORK, March 3, 2021 /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 Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Brainstorm and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On February 22, 2021, Brainstorm issued a press release "announc[ing] . . . that it recently met with senior leadership from the U.S. Food and Drug Administration (FDA) and received FDA feedback on a high-level data summary from the NurOwn (autologous MSC-NTF cells) ALS Phase 3 clinical trial. The FDA concluded from their initial review that the current level of clinical data does not provide the threshold of substantial evidence that FDA is seeking to support a Biologics License Application (BLA)." The press release quoted Brainstorm's Chief Executive Officer, Chaim Lebovits, as stating that "Brainstorm will first consult with principal investigators, ALS experts, expert statisticians, regulatory advisors, and ALS advocacy groups to assess the benefit/risk of a BLA submission before making a final decision[.]"
On this news, Brainstorm's stock price fell $2.32 or 33.62% to close at $4.58 per share on February 22, 2021.
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Robert S. Willoughby
888-476-6529 ext. 7980
SOURCE Pomerantz LLP