Brainstorm Cell Therapeutics Inc. (NASDAQ:BCLI) Q3 2018 Earnings Conference Call - Final Transcript
Oct 29, 2018 • 08:30 am ET
Good day, and welcome to the BrainStorm Cell Therapeutics Third Quarter 2018 Earnings Call. Today's conference is being recorded.
At this time, I would like to turn the conference over to Joseph Petroziello, Vice President of Scientific and Corporate Communications at Brainstorm. Please go ahead.
Thank you, operator, and thank you, everyone for dialing in to today's Q3 results call. Earlier today, BrainStorm Cell Therapeutics released its financial results for Q3, 2018 by means of a press release that could be also accessed on our company website.
(Forward-Looking Cautionary Statements)
Joining me on today's call will be Chaim Lebovits, CEO of Brainstorm; Dr. Ralph Kern, our COO and CMO; and Eyal Rubin, our CFO of BrainStorm. They're all available to take questions during the Q&A session thereafter.
At this time, I'll turn the call over to Chaim.
Thank you, Joe and congratulations for handling the first call on your job. Good morning and thank you for joining us today for our Q3 2018 results call. It's an exciting time at BrainStorm after many years of research and clinical trials. It's so exciting to see how our well-designed Phase 3 trial is slowly, but surely advancing towards the finish line. I will of course elaborate soon more.
In addition to the ALS Trial, as you know, our goal is to be able to present treatments and hopefully even cures across the CNS space for millions of patients with unmet needs. BrainStorm aims to be an innovative biotech company focused on developing potentially life changing autologous cellular therapies for neurodegenerative diseases of high unmet needs like ALS, similarly to what was achieved over the last few years with a Chimeric Antigen Receptor or CAR T-cell therapy for cancer.
These are breakthrough advances in the field of autologous cellular therapies. With widely published reports from leading biotech companies like Kite, Juno and Bluebird(ph)and recent FDA approvals of cell and gene therapies, each of which represent a significant step forward in changing the practice of clinical medicine. As you know, even though the CAR-T space has a different method of action, but they do pave the way for BrainStorm and others who are focused on developing best-in-class autologous stem-cell therapies for treating debilitating diseases, like ALS.
From a CMC standpoint, they prove to be viable and economical and approved by the agency. We see the long-term clinical potential of NurOwn in a very similar way to these success stories in the CAR-T field. For the newcomers, on this call, I would just add a short summary about the company's lead clinical program, utilizing NurOwn, has received Fast Track designation from the US FDA in ALS and has additionally been granted Orphan Status by the and the European Medicines Agency, EMA. NurOwn's currently in a pivotal Phase 3 trial in ALS in the US. NurOwn uses proprietary cell culture conditions to induce mesenchymal stem cells to secrete high levels of neurotrophic factors to promote the survival of neurons.
At BrainStorm, we believe that we are poised