Brainstorm Cell Therapeutics Inc. (NASDAQ:BCLI) Q2 2018 Earnings Conference Call - Final Transcript
Jul 23, 2018 • 08:30 am ET
Good day and welcome to the BrainStorm Cell Therapeutics' Second Quarter 2018 Earnings Call. Today's conference is being recorded.
At this time, I would like to turn the conference over to Paul Errant [ph] . Please go ahead.
Thank you, operator and good morning everyone and thank you for participating in today's second quarter 2018 financial results conference call for BrainStorm Cell Therapeutics.
Leading the call today will be CEO, Chaim Lebovits; Eyal Rubin, CFO; and Dr. Ralph Kern, Chief Medical and COO. A press release with the Company's second quarter 2018 financial results became available this morning, Monday, July 23rd, and can be found on the Investors Page of the company's website.
(Forward-Looking Cautionary Statements)
With that, I'd now like to turn the call over to CEO of BrainStorm Cell Therapeutics, Chaim Lebovits. Please go ahead sir.
Good morning and good afternoon dear shareholders. I'll start off by saying that this is so far one of the best quarters for BrainStorm ever, both financially and scientifically. Our NurOwn Phase III ALS trial enrollment is proceeding well and we now have access to over $25 million in cash, this includes the remaining CIRM non-dilutive grant for our Phase III. This is a good opportunity to express our gratitude to CIRM. We're happy to say that we have a wonderful collaborative experience with them and we're working on possibly submitting additional grants' requests.
This cash position will allow us not only fully fund our Phase III trial, but will also allow BrainStorm to initiate additional indications and even additional complementary products. As you know, we are very proud with our R&D and team, and they have been developing very impressive capabilities with cutting edge products that very few are able to do. We've already assigned research and development collaborations with leading scientific centers and leading experts to conduct both human and pre-clinical trials for these additional indications and new products. We've planned to announce additional details in the next few weeks. The Dana-Farber NurOwn manufacturing site, should be fully operational on October, we have a full team there for the last two months.
The DSMB meeting will convene in about a month, towards the end of August. We proudly also welcome our new senior employees, Joe Petroziello from Juno, Dr. Susan Ward from Pfizer. As you can see we are successfully building our team in the US. The last few years we hired four executives in the US, Dr. Kern, Mary Kay Turner and now Joe and Susan.
And additionally, we've strengthened our Board with appointments of Tony Polverino from Kite and Arturo Araya from Novartis.
You will also recall that we lately established a new Scientific Advisory Board with the leading neuroscientist in the field. We look forward to completing enrollment in the ALS Phase III trial and to the development of the additional indications and products and to bring to much needed hope to those people with ALS and other neurodegenerative diseases.
We thank you for your ongoing support. And