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BCLI.US
id: 860

Brainstorm Cell (BCLI) Biologics License Problem Case

S.D. New York
Court
1:23-cv-09630
Case number
15 Aug 2022
Class period Start
23 Sept 2023
Class period End
02 Jan 2024
Lead Plaintiff motion deadline
  • Brainstorm Cell allegedly downplayed an FDA letter and concealed biologics license application risks.
  • In September 2023, the truth came out, leading to a 47% $BCLI fall the next day.
Brainstorm is currently under investigation due to an FDA report, regarding its biologics license application (BLA).

The issues included insufficient scientific evidence, major gaps in information about the treatment's safety and effectiveness, and missing details like proper material control and safety measures.

Additionally, there were concerns about the facilities used to make the treatment, as they weren't ready for inspection.

This news caused $BCLI fall by 47% and $8.42M loss of market cap, damaging shareholders.

Given all the information, investors have reasons to suspect that Brainstorm didn't disclose issues with BLA and the company's treatment's quality and safety.
Case Status
Lead Plaintiff Appointed
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
28 September 2023
Filing date
01 November 2023
Lead Plaintiff Deadline
02 January 2024
Collecting participants…

Brainstorm Cell Therapeutics Inc

Brainstorm Cell Therapeutics Inc., a biotechnology company, engages in the development and commercialization of autologous cellular therapies for the treatment of neurodegenerative diseases. The co...

    Ticker
    BCLI.US
    ISIN
    US10501E2019
    CIK
    1137883
    Sector
    Healthcare
    Industry
    Biotechnology
    Country
    USA
    Address
    1325 Avenue of Americas, New York, NY, United States, 10019