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Post by lcd on Sept 9, 2014 12:50:25 GMT
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Post by JHam on Sept 9, 2014 13:30:39 GMT
There was never any doubt this was going to happen. Glad they are doing it. They say that they cannot guarantee that they will be able to up-list to the Nasdaq and that may create a nice buying opportunity in the next few days. Obviously though, that is their goal, they are just saying that in an abundance of caution. Here is the PR: BrainStorm Provides Update on NASDAQ Uplisting Process September 09, 2014: 06:07 AM ET Brainstorm Cell Therapeutics (OTCQB: BCLI), a leading developer of adult stem cell technologies for neurodegenerative diseases, today announced that on September 15, 2014, it plans to effect a 1 for 15 reverse split of its issued and outstanding common stock as part of its intended plan to pursue a stock listing on the NASDAQ Capital Market. "As we continue to make strides towards an uplisting, the reverse split, which received strong stockholder support at our annual meeting, is an important step, since the maintenance of a minimum closing price of $3.00 for at least five trading days is needed to fulfill the share price requirement for a NASDAQ listing," said Tony Fiorino, Chief Executive Officer of Brainstorm. "Meeting this requirement would allow us to move forward with our effort to list our common shares on the NASDAQ Capital Market, which we believe will result in better liquidity and a larger pool of potential investors in the company." Dr. Fiorino will also be providing a general corporate update and overview in his presentation at the Rodman and Renshaw 16th Annual Global Investment Conference today at 1:40 PM EST. The webcast of his presentation may be accessed at wsw.com/webcast/rrshq24/bcli. After giving effect to the reverse split on September 15, 2014, every 15 shares of the Company's issued and outstanding common stock will automatically be combined into one share of the Company's issued and outstanding common stock. The common stock will trade for 20 business days under the temporary ticker symbol "BCLID," with the "D" added to signify that the reverse split has occurred. After 20 business days, the symbol will revert back to the original symbol "BCLI." In connection with the reverse split, stockholders will not receive fractional post-reverse stock split shares; instead, holders will receive cash in lieu of fractional shares. The reverse stock split will not modify the rights or preferences of the common stock. The Company cannot guarantee that NASDAQ will approve the application for listing after the reverse split is completed.
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Post by JHam on Sept 9, 2014 13:41:10 GMT
So we are looking at about 15M o/s and a share price of around $4.20 at the current levels. That is a not many shares and the fact that the a/s won't split in proportion to the o/s makes me that much more curious/concerned that they are going to issue more shares after the r/s and up-list. Thinking carefully on this one...
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Isaac
New Member
Posts: 11
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Post by Isaac on Sept 9, 2014 14:28:08 GMT
I think I'm going to get my feet wet finally on this one and open a small position.
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Post by lcd on Sept 9, 2014 18:10:36 GMT
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Post by stemman on Sept 9, 2014 19:29:39 GMT
I only have a small amount left. I think I will buy back a few after the dilution (unless it pulls an ACTCD, in which case I will take some more off the table).
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Post by guruzim on Sept 10, 2014 1:17:03 GMT
What kind of dilution do you expect? This is one on my radar but I missed a good entry point and have been watching to get in for the last few weeks.
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Post by JHam on Sept 10, 2014 10:01:23 GMT
I did catch the presentation yesterday. I should give it another listen, but here are the points that stood out to me:
- 1:15 r/s will happen on Sept. 15th
- Up-list to the Nasdaq should happen by the end of the month
- Waiting to compile the final data in the last 2 patients from the Israel trial. Should have it ready to be released soon
- Enrollment for Phase II in the USA will take until mid-2015 to complete with the trial anticipated to finish by the beginning of 2016
- Anticipate filing a a new IND for a new indication that they have done pre-clinical work on (mentioned Parkinson's, MS, and Huntington's disease), by the time they finish Phase II enrollment in mid-2015
- Anticipate launching a re-dosing trial (I'm not saying that right, but I hope you know what I mean) this year
There are other items but those are the ones that jumped out.
I am not sure what to think right now. It seems like most of the big catalysts (besides the r/s and up-list) are not going to happen for a bit. And I also still believe there is going to be some dilution in the not too distant future. However, I still think that the current market cap is very undervalued. I believe $100M is more of a fair price at the moment, and I can't help but wonder if it will head towards that number after the up-list happens and, as Fiorino said, there is more liquidity with the stock.
I will probably look to add a small/medium core base of shares in the near term prior to or right after (or both) the r/s.
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Post by stemman on Sept 10, 2014 10:22:06 GMT
What kind of dilution do you expect? This is one on my radar but I missed a good entry point and have been watching to get in for the last few weeks. Nothing more than a guess. They are going to need more financing to reach their goals. I also think we are going to see more volatility.
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Post by lcd on Sept 10, 2014 10:48:29 GMT
Because they are only doing a 1:15 split, doesn't it seem unlikely dilution will occur soon without some major catalyst to keep the price up? They need to stay over $3 with $5 million in cash to get listed but it seems unlikely they would turn around and dilute right after uplisting because they will be a target for shorting. They will definitely dilute in the next six months but I wonder if the dilution and the release of the P2 results will happen together. It might play out like ACT is right now where no one knows which will come first. I am going to wait for Monday to see if there is a great buying opportunity like their was for ACTCD the morning of the split.
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Post by stemman on Sept 10, 2014 11:25:16 GMT
Am I the only one feeling uneasy about the rate of the r/s? It should have been at least 1 for 30 imo.
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Post by JHam on Sept 10, 2014 11:45:42 GMT
Am I the only one feeling uneasy about the rate of the r/s? It should have been at least 1 for 30 imo. No. That is why I think there will be dilution in the near term. I can't see them being content with such a low float on the Nasdaq and will probably use the opportunity of a capital raise to issue more shares (or vice versa). The silver lining in this is that they raised $10.5M earlier this year by issuing more shares and the pps went up almost 40% during that time.
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Post by dayanand33 on Sept 11, 2014 23:40:41 GMT
I did catch the presentation yesterday. I should give it another listen, but here are the points that stood out to me: - 1:15 r/s will happen on Sept. 15th - Up-list to the Nasdaq should happen by the end of the month - Waiting to compile the final data in the last 2 patients from the Israel trial. Should have it ready to be released soon - Enrollment for Phase II in the USA will take until mid-2015 to complete with the trial anticipated to finish by the beginning of 2016 - Anticipate filing a a new IND for a new indication that they have done pre-clinical work on (mentioned Parkinson's, MS, and Huntington's disease), by the time they finish Phase II enrollment in mid-2015 - Anticipate launching a re-dosing trial (I'm not saying that right, but I hope you know what I mean) this year There are other items but those are the ones that jumped out. I am not sure what to think right now. It seems like most of the big catalysts (besides the r/s and up-list) are not going to happen for a bit. And I also still believe there is going to be some dilution in the not too distant future. However, I still think that the current market cap is very undervalued. I believe $100M is more of a fair price at the moment, and I can't help but wonder if it will head towards that number after the up-list happens and, as Fiorino said, there is more liquidity with the stock. I will probably look to add a small/medium core base of shares in the near term prior to or right after (or both) the r/s. The slides also mention about phase 1/2 "Single arm single ascending dose in IM and IT". I am trying to understand the meaning of phase 1/2. This wiki does not mention anything about a phase 1/2 -- en.wikipedia.org/wiki/Phases_of_clinical_research.
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Post by stemman on Sept 13, 2014 16:09:03 GMT
Am I the only one feeling uneasy about the rate of the r/s? It should have been at least 1 for 30 imo. No. That is why I think there will be dilution in the near term. I can't see them being content with such a low float on the Nasdaq and will probably use the opportunity of a capital raise to issue more shares (or vice versa). The silver lining in this is that they raised $10.5M earlier this year by issuing more shares and the pps went up almost 40% during that time. The volatility of ACTCD is a reminder that 1 for 15 may not be good enough for BCLID. No contingency for unexpected shet. Don't they know that it happens?
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Post by JHam on Sept 14, 2014 3:16:20 GMT
No. That is why I think there will be dilution in the near term. I can't see them being content with such a low float on the Nasdaq and will probably use the opportunity of a capital raise to issue more shares (or vice versa). The silver lining in this is that they raised $10.5M earlier this year by issuing more shares and the pps went up almost 40% during that time. The volatility of ACTCD is a reminder that 1 for 15 may not be good enough for BCLID. No contingency for unexpected shet. Don't they know that it happens? stemman, I understand what you are saying. I think that ACT and BCLI are two completely different animals in this regard. ACT would still be trading in the $12 range had they not sent out the PR about a/s increase, didn't have their CSO selling every other day, didn't have a/g holding 2M+ shares waiting to dump, and didn't have the weight of selling pressure from Lincoln. ACT is still above the pre-split share price which is good in itself since most assumed it would immediately head lower. BCLI doesn't have any of those issues. I agree with bigmike, that BCLI may end up releasing their paper before ACT. I also think it is encouraging that BCLI will up-list very shortly after they do the r/s. I am sure there will be some volatility, but I feel like Fiorino knows how to do this in a way that they can sustain the pps above the minimum requirement during the up-list process. Full disclosure. I currently own 10 shares. I was looking to take ACT profits and put them into BCLI pre-r/s. That was going well until they didn't publish results and instead did a PR that was perceived as a nightmare to investors. I'm still in the green with ACT and may just go ahead and sell on Monday so that I can buy BCLI.
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Post by stemman on Sept 14, 2014 4:30:23 GMT
Thanks BigM and JHam, very good food for thought.
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Post by dayanand33 on Sept 14, 2014 13:04:19 GMT
1 for 15 shows extreme confidence IMO. That's a bullish sign. This stock has recently raised funds on surprisingly positive terms while on the OTC (25 cents). Can't help but think being on the Nasdaq they'll be able to top 25 cents. This stock trades barely above 25 cents right now but will be much higher very soon IMO. I think there is a higher chance they release data before ACTC. And....wow.....they seriously anticipate being done with phase 2 mid 2015? If the treated versus placebo differences are significant enough....with mayo clinic and mgs and umass involved....I think this will be a no brainer for breakthrough designation. The key is they wisely incorporated the placebo comparison...... If they are planning to up list in say next 2-3 weeks, then I don't see any near term catalyst to boost the pps. Per this link www.israel21c.org/headlines/revolutionary-stem-cell-als-treatment-begins-advanced-trials/, "We hope in the next three months we will have a paper ready to be published.” So the paper will be ready and sent to a journal by end of October. It will take another 2-3 months for the paper to eventually get published. I tend to agree with stemman that a little more wiggle room (1:30) would have been better. But then again the CEO may have some trick up his sleeves. Currently, I don't want to move my money from ACTCD over to this stock. ACTCD has far more going at this time and arguably they seem to have a better up list plan.
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Post by JHam on Sept 15, 2014 10:36:16 GMT
Yeah crap!! What a waste of $2.85...
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Post by JHam on Sept 15, 2014 10:37:29 GMT
The day is finally here for BCLI.
I am on record saying I don't think this r/s and up-list is going to be such a big deal, and I stand by that. Sure I think there will be some volatility, and wouldn't be surprised to see a huge dump right at the opening bell with a slow recovery throughout the day. But when all is said and done and everything is settled, I don't not expect the market cap to be much, if at all, lower than the current $64M valuation.
I do expect another round of fundraising in the near future, and that could if course change things. Should be an interesting day and couple weeks ahead. Good luck to anyone currently holding shares!
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Post by stemman on Sept 15, 2014 12:59:29 GMT
I can't see ant BCLI"D" yet. Will we be able to buy/sell it in another 31 minutes?
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