$BCLI
BRAINSTORM CELL THERAPEUTICS INC.

2021 Form 10-K Financial Statement

#000141057822000554 Filed on March 28, 2022

View on sec.gov

Income Statement

Concept 2021 2020 Q4 2020
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $9.304M $2.670M $9.360M
YoY Change -0.6% 80.41% 61.38%
% of Gross Profit
Research & Development $15.24M $8.820M $22.33M
YoY Change -31.77% 42.49% 29.79%
% of Gross Profit
Depreciation & Amortization $260.0K $60.00K $219.0K
YoY Change 18.72% 20.0% 33.54%
% of Gross Profit
Operating Expenses $15.24M $11.49M $22.33M
YoY Change -31.77% 49.8% 29.79%
Operating Profit -$24.54M -$31.68M
YoY Change -22.55% 37.75%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $82.00K -$320.0K -$130.0K
YoY Change -163.08% 966.67% -48.0%
Pretax Income -$24.46M -$11.82M -$31.81M
YoY Change -23.12% 53.71% 626.61%
Income Tax
% Of Pretax Income
Net Earnings -$24.46M -$11.82M -$31.81M
YoY Change -23.12% 53.71% 36.8%
Net Earnings / Revenue
Basic Earnings Per Share -$0.68 -$1.07
Diluted Earnings Per Share -$0.68 -$354.8K -$1.07
COMMON SHARES
Basic Shares Outstanding 36.18M 29.85M
Diluted Shares Outstanding 36.18M 29.85M

Balance Sheet

Concept 2021 2020 Q4 2020
SHORT-TERM ASSETS
Cash & Short-Term Investments $22.09M $41.94M $41.94M
YoY Change -47.32% 7257.89% 7257.89%
Cash & Equivalents $18.86M $37.83M $37.83M
Short-Term Investments $3.238M $4.110M $4.110M
Other Short-Term Assets $1.100M $1.000M $1.000M
YoY Change 10.0% 127.27% 127.27%
Inventory
Prepaid Expenses
Receivables $0.00 $300.0K $220.0K
Other Receivables $86.00K $0.00 $80.00K
Total Short-Term Assets $23.28M $43.24M $43.24M
YoY Change -46.16% 1186.96% 1186.9%
LONG-TERM ASSETS
Property, Plant & Equipment $5.970M $1.119M $7.990M
YoY Change -25.28% 16.56% 154.46%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $27.00K $8.017M $30.00K
YoY Change -10.0% 152.58% 0.0%
Total Long-Term Assets $5.997M $8.017M $8.020M
YoY Change -25.22% 152.58% 153.0%
TOTAL ASSETS
Total Short-Term Assets $23.28M $43.24M $43.24M
Total Long-Term Assets $5.997M $8.017M $8.020M
Total Assets $29.28M $51.26M $51.26M
YoY Change -42.89% 684.5% 684.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.700M $5.417M $5.420M
YoY Change -31.73% -63.09% -63.08%
Accrued Expenses $1.544M $1.261M $3.920M
YoY Change -60.61% 26.1% 73.45%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.317M $11.23M $11.23M
YoY Change -43.75% -36.37% -36.37%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $3.618M $4.560M $4.560M
YoY Change -20.66% 314.55% 314.55%
Total Long-Term Liabilities $3.618M $4.562M $4.560M
YoY Change -20.66% 313.6% 314.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.317M $11.23M $11.23M
Total Long-Term Liabilities $3.618M $4.562M $4.560M
Total Liabilities $9.935M $15.80M $15.80M
YoY Change -37.12% -15.79% -15.78%
SHAREHOLDERS EQUITY
Retained Earnings -$149.1M
YoY Change 27.12%
Common Stock $184.7M
YoY Change 75.78%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $19.34M $35.46M $35.46M
YoY Change
Total Liabilities & Shareholders Equity $29.28M $51.26M $51.26M
YoY Change -42.89% 684.5% 684.99%

Cashflow Statement

Concept 2021 2020 Q4 2020
OPERATING ACTIVITIES
Net Income -$24.46M -$11.82M -$31.81M
YoY Change -23.12% 53.71% 36.8%
Depreciation, Depletion And Amortization $260.0K $60.00K $219.0K
YoY Change 18.72% 20.0% 33.54%
Cash From Operating Activities -$26.27M -$7.570M -$35.19M
YoY Change -25.37% 130.79% 212.91%
INVESTING ACTIVITIES
Capital Expenditures $330.0K -$230.0K $378.0K
YoY Change -12.7% -32.35% -20.08%
Acquisitions
YoY Change
Other Investing Activities $653.0K -$60.00K -$4.070M
YoY Change -116.04% -166.83%
Cash From Investing Activities $323.0K -$300.0K -$4.452M
YoY Change -107.26% -11.76% -179.27%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $151.0K -$27.00K
YoY Change -659.26%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 6.969M 20.94M 76.94M
YoY Change -90.94% 911.59% 1372.5%
NET CHANGE
Cash From Operating Activities -26.27M -7.570M -35.19M
Cash From Investing Activities 323.0K -300.0K -4.452M
Cash From Financing Activities 6.969M 20.94M 76.94M
Net Change In Cash -18.97M 13.07M 37.29M
YoY Change -150.88% -943.23% -9285.47%
FREE CASH FLOW
Cash From Operating Activities -$26.27M -$7.570M -$35.19M
Capital Expenditures $330.0K -$230.0K $378.0K
Free Cash Flow -$26.60M -$7.340M -$35.57M
YoY Change -25.23% 149.66% 203.51%

Facts In Submission

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BRAINSTORM CELL THERAPEUTICS INC.
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<table style="border-collapse:collapse;border:0;"><tr><td style="width:57.6pt;padding:0pt;"/><td style="vertical-align:text-top;white-space:nowrap;width:36pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin-bottom:12pt;margin-top:0pt;text-align:justify;">B.</p></td><td style="padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin-bottom:12pt;margin-top:0pt;text-align:justify;">Use of estimates:</p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 93.6pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.</p>
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CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
7217000
CY2021 us-gaap Lease Cost
LeaseCost
2767000
CY2020 us-gaap Lease Cost
LeaseCost
1423000
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
2767000
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y7M13D
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0674
CY2020Q1 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
250000
CY2020Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
15.00
CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
151000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3402000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3072000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2213000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1953000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1189000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1119000
CY2021 us-gaap Depreciation
Depreciation
260000
CY2020 bcli Maturity Of Interest Bearing Bank Deposits
MaturityOfInterestBearingBankDeposits
P2Y
CY2021 bcli Maturity Of Interest Bearing Bank Deposits
MaturityOfInterestBearingBankDeposits
P2Y
CY2007Q3 bcli Warrants Issued To Purchase Of Common Stock
WarrantsIssuedToPurchaseOfCommonStock
672222
CY2021Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
2266666
CY2020Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
10000000.0
CY2020Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
1250000
CY2020Q1 us-gaap Share Price
SharePrice
8.00
CY2020Q1 bcli Warrant Term
WarrantTerm
P3Y
CY2020 us-gaap Share Based Compensation
ShareBasedCompensation
2560000
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.81
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.57
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.66
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0126
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0031
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0057
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2021Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
1278000
CY2021 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y8M15D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1310417
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1754894
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y2M15D
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y11M19D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
995359
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
998527
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
1366000
CY2021Q4 us-gaap Deferred Tax Liabilities Deferred Expense Capitalized Research And Development Costs
DeferredTaxLiabilitiesDeferredExpenseCapitalizedResearchAndDevelopmentCosts
15940000
CY2020Q4 us-gaap Deferred Tax Liabilities Deferred Expense Capitalized Research And Development Costs
DeferredTaxLiabilitiesDeferredExpenseCapitalizedResearchAndDevelopmentCosts
25808000
CY2021 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
15235000
CY2020 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
22329000
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.13
CY2021Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
126800000
CY2020Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
99818000
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
33641000
CY2020Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
26664000
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
33641000
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
26664000
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
33641000
CY2021Q4 us-gaap Tax Credit Carryforward Amount
TaxCreditCarryforwardAmount
126800000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-8357000
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-8578000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-16100000
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-23233000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-24457000
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-31811000
CY2021 dei Auditor Firm
AuditorFirmId
1197

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