BioRestorative Therapies, Inc.

Listed Company

BRTXCIK 0001505497NasdaqNon-AcceleratedSmaller ReportingServices-Misc Health & Allied Services, NecNevadaFY ends Dec 31

Period

FY 2025

Revenue

$359.7K

Net Income

$-14.20M

Total Assets

$4.08M

Equity

$356.7K

Shares Out

25.48M

Op. Cash Flow

$-10.80M

Business

BioRestorative Therapies, Inc. develops therapeutic products using cell and tissue protocols, primarily involving adult stem cells. Its main offerings include the BRTX-100 autologous mesenchymal stem cell candidate for disc/spine disorders, the ThermoStem brown adipose platform targeting metabolic diseases, a commercial cell‑based biocosmeceutical serum, and licensed delivery device technology and cGMP clinical manufacturing services. The company operates through its Disc/Spine Program, Metabolic (ThermoStem) Program, BioCosmeceuticals platform, and laboratory/clinical manufacturing and device licensing activities. It conducts clinical trials and supplies products through physician and hospital channels, strategic licenses, and international partnerships and agreements.

Summary from filing dated 2025-03-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	359,700	401,000	145,800	119,800	46,000
Cost of goods sold	23,844	28,072	—	—	—
Gross profit	335,856	372,928	145,800	—	—
Research and development	10	7	4	4	729,058
General and administrative	6	5	11	16	26
Total Operating Expenses	16	12	15	19	26
Loss From Operations	−16	−12	−15	−19	−26
Interest income, net	266,207	616,077	552,293	−11,650	2
Other income	17,448	150,850	169,664	−107,088	—
Gain on exchange of warrants	—	2	—	—	—
Change in fair value of warrant liabilities	1	97,188	4	—	—
Total Other Income	1	3	5	−479,256	18
Net Loss	−14	−9	−10	−18	−44
Net Loss Per Share - Basic	−1.58	−1.16	−2.47	−5.11	−37.3
Net Loss Per Share - Diluted	−1.58	−1.16	−2.47	−5.11	—
Weighted Average Common Shares Outstanding - Basic	9	8	4	4	1
Weighted Average Common Shares Outstanding - Diluted	9	8	4	4	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	2	547,890	884,377	2	21
Investments held in marketable securities	1	10	10	13	—
Accounts receivable	15,500	188,400	19,300	16,000	5,000
Prepaid expenses and other current assets	168,440	223,230	305,231	363,082	436,181
Total Current Assets	3	11	11	15	21
Deferred offering costs	49,808	148,697	—	—	—
Property and equipment, net	358,767	362,936	356,055	261,003	37,993
Intangible assets, net	534,198	623,945	713,692	803,438	589,740
Total Assets	4	12	13	16	22
Accounts payable	1	483,070	189,389	170,902	50,827
Accrued expenses and other current liabilities	982,047	744,485	—	—	—
Warrant liabilities	1	3	2	6	—
Total Current Liabilities	4	4	3	440,302	363,822
Commitments and contingencies	—	—	—	—	—
Common stock, $0.0001 par value; 75,000,000 shares authorized; 8,876,242 and 6,919,919 shares issued and outstanding at December 31, 2025 and 2024, respectively	887	692	471	369	353
Additional paid-in capital	170	164	157	168	156
Accumulated deficit	−170	−156	−147	−153	−134
Total Stockholders Equity	356,744	9	10	10	22
Total Liabilities and Stockholders Equity	4	12	13	16	22

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	209,985	189,056	165,735	120,545	—
Dividend and interest income	−270,573	−623,801	−569,068	−76,004	—
Stock-based compensation	3	3	8	13	23
Non-cash lease expense	—	151,447	90,313	160,122	116,044
Accounts receivable	172,900	−169,100	−3,300	−11,000	12,000
Prepaid expenses and other current assets	101,770	33,591	57,851	73,099	−330,774
Accounts payable	839,525	293,680	18,487	120,075	−68,024
Accrued expenses and other current liabilities	195,281	32,799	581,616	−4,898	812,673
Lease Liability	—	−162,317	−139,328	−163,132	−101,190
Net Cash Used In Operating Activities	−11	−8	−6	−6	−3
Sale of marketable securities	12	22	21	9	—
Purchase of marketable securities	−3	−21	−18	−22	—
Purchases of equipment	−116,069	−106,189	−171,043	−265,223	−30,658
Net Cash Provided By Investing Activities	9	514,529	3	−13	−30,658
Payment of issuance costs	−177,953	—	—	—	—
Exercise of stock options	41,165	—	—	—	—
Proceeds from exchange and issuance of warrants, net	—	8	—	—	—
Payment of deferred offering costs	−99,973	−148,697	—	—	—
Repayment of financed insurance premiums	−4,698	—	—	—	—
Net Cash Provided By Financing Activities	3	7	2	—	21
Net Increase (Decrease) In Cash and Cash Equivalents	963,298	−336,487	−829,395	−19	18
Interest	—	—	—	—	—
Income taxes	—	—	—	—	—
Return and cancellation of shares in lieu of payroll tax withholding	—	48,410	39,308	—	—
Issuance of common stock held in abeyance	28	15	—	—	—
Reclassification of deferred offering costs	217,762	—	—	—	—
Deferred offering costs included in accounts payable	18,900	—	—	—	—
Financing of insurance premiums	46,980	—	—	—	—

Filings

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