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BioRestorative Therapies, Inc. (BRTX)

NasdaqCM - NasdaqCM Real Time Price. Currency in USD
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2.9900-0.1300 (-4.17%)
At close: 04:00PM EDT
3.1000 +0.11 (+3.68%)
After hours: 07:07PM EDT
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  • T
    Tray
    MELVILLE, N.Y., Nov. 20, 2020 (GLOBE NEWSWIRE) -- BioRestorative Therapies, Inc. (“BioRestorative” or the “Company”) (OTC: BRTX), a life sciences company focused on stem cell-based therapies, announced today that its amended joint plan of reorganization has become effective and it has emerged from Chapter 11 reorganization. Pursuant to the confirmed plan of reorganization, the Company has received $3,848,000 in financing. The confirmed plan of reorganization also provides for additional funding, subject to certain conditions, of $3,500,000 less the sum of the debtor-in-possession financing provided to the Company during the reorganization (approximately $1,227,000) and the costs incurred by the debtor-in-possession lender.

    In connection with the reorganization, Lance Alstodt has been appointed the Company’s President, Chief Executive Officer and Chairman of the Board. Mr. Alstodt said, “This process has been a long and challenging journey for the Company. I’m inspired by the great resolve and execution from our employees, professionals and investors. We are very pleased that all requirements have been met for us to emerge. Allowed creditor claims have been fully satisfied and, as importantly, our equity holders have retained their shares in this exciting new opportunity. We were able to preserve all of our intellectual property assets and look forward to initiating our Phase 2 clinical trial.”

    Based upon the Company’s emergence from Chapter 11 reorganization, FINRA has removed the “Q” at the end of its trading symbol. Shareholders do not need to exchange their shares for new shares.
    Bullish
  • T
    Tray
    BioRestorative Therapies Provides End of Year Shareholder Letter
    MELVILLE, N.Y., Jan. 05, 2021 (GLOBE NEWSWIRE) -- BioRestorative Therapies, Inc. (“BioRestorative” or the “Company”) (OTC: BRTX), a life sciences company focused on stem cell-based therapies, today announced the following letter from its Chief Executive Officer, Lance Alstodt, to its shareholders and the investment community.
    Dear Fellow BioRestorative Therapies, Inc. Shareholder:
    As 2020 comes to a close, I’d like to introduce myself as the new CEO of BioRestorative Therapies. 2020 has brought much in the way of challenges for many of us here in the United States and throughout the world. In light of this, I’m very grateful to be in the position to experience and navigate these challenges with the team at BioRestorative Therapies, including our employees, service providers and investors. I thought as we conclude this difficult 2020 and approach 2021, it would be appropriate to share with you some important strategic goals for our Company.
    As you may already know, on November 16, 2020, we successfully emerged from chapter 11 reorganization. This process was a long and challenging journey for the Company. I’m inspired by the great resolve and execution from our employees, professionals and investors. We are very pleased that all requirements were met for us to emerge. Allowed creditor claims have been satisfied and, as importantly, our equity holders have retained their shares in this exciting new opportunity. We were able to preserve all of our intellectual property assets and look forward to initiating our Phase 2 clinical trial.
    Focus and intensity will be the way we approach all of our corporate activities. In our immediate future, we will focus on setting realistic, measurable goals and executing upon them. Looking ahead, we have identified three critical strategic goals: getting current with our SEC filings; advancing our scientific programs; and streamlining our organization to maximize efficiencies.
    Our first priority is to become current with our SEC filings. Our latest filed periodic report is the September 30, 2019 10-Q; therefore, we will need to file our 2019 10-K, our 2020 10-Qs and our 2020 10-K (which is not due until March 31, 2021). Much work needs to be done, but with our team of accountants, auditor and attorneys, we expect to return to a current status by early next year. Discussions with the SEC have provided us with the information necessary to create a clear and thoughtful pathway to executing on this process. We expect to file our 2019 10-K in February 2021, our 2020 10-Qs in March 2021 and our 2020 10-K timely in 2021 (giving effect to the 15 day extension afforded by the SEC’s rules). Not only would that bring us current, but it would also trigger, pursuant to the confirmed plan of reorganization, a milestone funding obligation from the company that provided the debtor-in-possession (DIP) financing to us during the chapter 11 process. The amount of the funding is to be $3.5 million less the sum of the approximately $1.2 million of DIP financing provided during the reorganization and the costs incurred by the DIP funder.
    At the same time, we are looking to advance our scientific programs. We hope to have our cGMP manufacturing facility completed during the first half of 2021. This facility will be used to manufacture BRTX-100, our lead clinical product for our Phase 2 clinical trial. With in-house cGMP manufacturing capabilities, we will be able to coordinate with our contract research organization (CRO) and initiate our trial, transitioning us into a clinical stage company. During 2021 we expect to finalize the pre-clinical work for our brown fat program and file a drug master file (DMF) with the FDA. This would allow us to file an investigational new drug (IND) application giving BioRestorative Therapies two active clinical programs.
    Although we remain focused on our efforts to take BRTX-100 to the clinical trials, we plan on leveraging our cellular therapy platform by working with our product pipeline and expanding our programs, targeting new indications that address unmet medical needs.
    In terms of streamlining our operations, we have begun to renegotiate key contracts with service vendors, both operational and professional, that impact our overhead. We have analyzed our human resource needs and will outsource some of the key positions to better match the resource with the business need. We intend to reduce near-term executive cash-based salaries to better align our team with investors. The successful implementation of such programs will ensure that we are operating more characteristically like a start up emerging growth biotech company, all with a healthier and cleaner balance sheet affording us a slower burn and an optimized infrastructure.
    We are committed to making 2021 a landmark year by developing our programs, including the initiation of our Phase 2 clinical trial with BRTX-100.
  • S
    Sal
    BioRestorative Therapies Expanding its Cell Therapy Manufacturing Facility
    MELVILLE, N.Y., May 10, 2021 (GLOBE NEWSWIRE) -- BioRestorative Therapies, Inc. (the “Company” or “BioRestorative”) (OTC: BRTX), a life sciences company focused on stem cell-based therapies, today announced that it is initiating expansion of its Melville, New York based research laboratories to include capabilities for the clinical production of the Company’s pipeline of clinical and investigational cell therapy candidates.
  • T
    Tyler
    Reasons to buy:
    1) They have promising IP
    2) They trade to a very cheap valuation
    3) You can get massive leverage. 10 million shares for $77k. If it works, that leverage works for you in theory.
    4) There could be some good news along the way that creates trading opportunities

    Reasons not to buy:
    1) 14.7 billion warrants that will likely be exercised at .001 if the company has success so massive potential dilution
    2) No known funding for phase 2
    3) Exclusivity on IP expires in Feb 22
    4) They'll likely have to give away a huge chunk of the company to any entity that will fund phase 2. This won't be a loan at libor!
    5) The IP may not work or may not receive FDA approval
    6) They may never achieve commercial viability.

    Those are the pros and cons as I see them. You decide!
  • D
    Dcblue33
    Another interview with CEO Lance
    Phase II Trials could be earlier than March. Getting done with filings and being current is #1 priority.
    https://twitter.com/dcblue33/status/1330679132938756096?s=19
    Bullish
  • G
    Green
    Be patient longs, everything just became officially effective on Monday, since then, the "Q" was dropped from the ticker symbol, PR was released, and the OS was decreased from 2 billion to 1.6 billion, which would get rid of a lot of the shorts. They're taking the necessary steps. Plus, this was from an article yesterday:

    "The top management targets beyond $0.50 as recent news hint investors to consider the company as a long-term investment opportunity."

    Btw, last I looked, we are in the green for the week!
    Bullish
  • l
    lara
    With the events of the Proxy 14A filing that dropped AH on Friday, On Twitter @MichiganTrader2 made (1) 4 part post and another (1) 3 part post explaining the reasoning and he is someone that is fully in tune how business works and had shed a lot of light on the subject matter.

    1/4 $BRTX Shocker, I know, right? Micro cap biotech company might need or want to do R/M in the future. Sorry, this is NOT news, common sense tells you that for higher exchange listing they may need to do this. It is NOT imminent, and is NOT done to wash out current holders.
    https://twitter.com/MichiganTrader2/status/1409236126674702347?s=20

    2/4 $BRTX OTC tickers wash out current holders so they won't sell into PR driven rallies thus killing off dilution attempts. BRTX has made it clear they already have additional financing lined up, so this is not to raise capitol but is rather strategic.
    https://twitter.com/MichiganTrader2/status/1409236127605723144?s=20

    3/4 $BRTX CEO
    @lalstodt
    Is not your typical OTC CEO interested in P&D. W/ 20 years in healthcare investment banking and experience with ortho/spine disorder sector he saw an opportunity in BRTX, liking in part that their technology was feasible w/good Phase I results.
    https://twitter.com/MichiganTrader2/status/1409236128637542407?s=20

    4/4 $BRTX So while there is still significant risk in any OTC biotech play, the issues holders are being asked to vote on are immaterial to risk other than saving 250K/yr in expenses, thus reducing the "bleed rate" any biotech is vulnerable to. And good strategy. I rest my case.
    https://twitter.com/MichiganTrader2/status/1409236129543507980?s=20

    **********************************************************************

    1/3 $BRTX Another "need to chill" tweet ... CEO is doing is giving S/H a choice here. Delaware has a crazy tax based on the spread of O/S to A/S which costs them 200G+ year. He's saying "let me kill this by reincorporating in NV" OR I might have to R/S to reduce this cost.
    https://twitter.com/MichiganTrader2/status/1409259485454077954?s=20

    2/3 $BRTX So given I know prolly people that own 1/8th to 1/4 the OS, all long-term patient people, AND there is no sane choice but vote YES on reincorporating. it will pass easily. Which takes any immediate concern about R/S off the table 100%.
    https://twitter.com/MichiganTrader2/status/1409259486490025986?s=20

    3/3 $BRTX Finally, as to the future,
    @lalstodt
    has ALWAYS made it clear that he would R/S to uplist to attract the whales to take shares off your hands, after further developing the company and pipeline. So don't let anyone trash talk here. Much more to come down the pike.
    https://twitter.com/MichiganTrader2/status/1409259487584735236?s=20

    Lastly

    $BRTX Last one ... so the calculation as a S/H is "do I keep my shares given CEO wants to save $200G+/year?" OR "sell when NOTHING has changed other than having a say in this decision?" Literally nothing has changed other than saving money for the company ....
    https://twitter.com/MichiganTrader2/status/1409265872607272973?s=20
    Bullish
  • D
    Dcblue33
    Congrats guys, it's done, it's signed.
    Now we FLY
    https://twitter.com/dcblue33/status/1321560570357755911?s=19
    Bullish
  • S
    Sal
    MELVILLE, N.Y., Aug. 09, 2021 (GLOBE NEWSWIRE) -- BioRestorative Therapies, Inc. (“BioRestorative”) (OTC: BRTX), a life sciences company focused on stem cell-based therapies, today announced that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission for a proposed underwritten public offering of its securities. This offering will be subject to the registration statement on Form S-1 becoming effective and subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed.

    The net proceeds from the offering, if completed, will be used to undertake clinical trials with respect to BioRestorative’s lead product candidate, BRTX-100, and its related collection and delivery procedure, for pre-clinical research and development with respect to its metabolic ThermoStem Program, and to provide funds for general corporate and working capital purposes.
  • D
    Dcblue33
    Hold Your Gold
    Commons intact - 8K Latest EOD Wed.
    BRTXQ patents to be worth between the value of $50-100 million dollars.

    https://twitter.com/dcblue33/status/1306030397927690245?s=19

    https://www.issuewire.com/biorestorative-therapies-inc-brtxq-shareholders-holding-strong-for-great-news-1677941169475716
    BRTXQ Winning The Race To Restore
    BRTXQ Winning The Race To Restore
    www.issuewire.com
  • p
    paul
    Guys please help me. Someone give me some information I’m panicking and I’m down so much
  • D
    Dan
    When the creditors are finished selling the stock they where issued in lieu of cash payments the stock will rise. Until then this will be the 1 or 2 cent stock. At the end of the day this is a long term stock that will most likely make people very happy they invested in BRTX.
  • S
    Slash
    http://www.biorestorative.com/wp-content/uploads/2020/07/DISCLOSURE-STATEMENT-OF-REORGANIZATION.pdf
    Following the Effective Date, the Reorganized Debtor intends to become current with its securities filings, maintain itself as a publicly traded company and seek to become up-listed onto the NASDAQ stock exchange. The Reorganized Debtor will further seek to raise additional financing, pursuant to Section 5.2 of the Plan, to proceed with clinical trials for its ThermoStem™ Program and for BRTX-100 program.
  • J
    Jerry Flake
    Holding 100K shares for at least 1y+. Nothing special going on at the moment but as soon as news of outside financing or Phase 2 comes out this thing will fly.
  • M
    Mr. Lucky
    https://twitter.com/lalstodt/status/1339922370082037760

    More tweet from CEO.

    "Creditors received just over 1BN shares in connection with the exchange option pursuant to JT Plan of Reorg. I’d also refer you to the 8k."
  • L
    Leon
    Plan APPROVED. Congrats everyone.
    Bullish
  • s
    sweetcheeks
    Check pacer. Effective date is 11/16 so load up tomorrow. See DD by jtb3. https://twitter.com/jtb36/status/1326971572746219522
    Bullish
  • E
    EYESINUREYES
    congrats longs
  • T
    Tray
    BioRestorative Therapies (BRTXQ) Carrying On To Surpass $0.50

    What a nice trading-day was Wednesday for BioRestorative Therapies (OTC: BRTXQ) that jumped 122.73% on 295,593,043 shares while NASDAQ and DOW lost at least 0.50%. Investors find BRTXQ as one of the persisting biotech stocks that still want to surpass even $10 while having huge financial problems.

    BioRestorative Therapies claims it is emerging from bankruptcy by partnering on a new bankruptcy reorganization plan with one of its creditors Auctus Capital which is serving as a hope to get rid of the insolvency at all. Later, the company plans to revive phase 2 trials of brtxDISC for the non-surgical treatment of painful lumbosacral disc disorders and get the BRTXQ shares back to the national stock exchange.

    The top management targets beyond $0.50 as recent news hint investors to consider the company as a long-term investment opportunity. Since August 6 of 2020 BRTXQ has been one of the actively trading stocks amid new goals set by the visionary leaders who are promising to show off with BRTX-100 that has to be 100% effective to the patients.

    Richard McEntire, Own Snap
    Bullish
  • F
    Fozz
    Many of you already seemed comfortable, as I fully am now, but I thought I'd run the situation and court docs by my uncle who formerly held a VERY lofty position at Intel. Now, as a retiree, he occasionally gives presentations on finance to small businesses. He also heavily invests in the stock market. After he reviewed, he agreed that the restructure plan should in strong likelihood pass. Take that as you may.
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