aibioBioRestorative appoints Donald J. Currie to its board
Tickers BRTX
The board appointed Donald J. Currie as a Class I director on October 7, 2026 to fill the seat left by Katharyn Field, and named him to two committees.
Key facts
- Company
- BioRestorative Therapies, Inc. (NASDAQ: BRTX)
- News type
- Company Updates
- Primary source
- BioRestorative Therapies, Inc. 8-K (2026-10-09)
BioRestorative Therapies, Inc. appointed Donald J. Currie as a Class I director on October 7, 2026, effective immediately, according to a Form 8-K dated October 9, 2026. He fills the vacancy left by Katharyn Field, who resigned effective August 31, 2026. Mr. Currie will serve until the company's 2027 annual meeting of stockholders and until his successor is duly elected and qualified, or until his earlier death, resignation or removal.
Committee makeup and independence
Mr. Currie joins the Compensation Committee and the Nominating and Corporate Governance Committee. The Audit Committee consists of Steven Brown (Chair), Jatinder Dhaliwal and Esha Randhawa.
The board determined that Mr. Currie is an independent director under the listing rules of The Nasdaq Stock Market LLC and under Rule 10A-3 under the Securities Exchange Act of 1934.
Mr. Currie's background and pay
Mr. Currie, age 65, has served as Chief Executive Officer and a director of Hillcrest Energy Technologies Ltd. (CSE: HEAT; OTCQB: HLRTF) since February 2010. Hillcrest is a clean energy technology company. He has more than 30 years of experience in the energy sector and in financing public companies. The report says he has held no other position and served as a director of no other company in the past five years.
For his service as a non-employee director and committee member, Mr. Currie will receive a cash fee of CAD $2,000 per month, payable monthly in arrears, plus reimbursement of reasonable out-of-pocket expenses under the company's policies.
The company and its business
BioRestorative Therapies was incorporated in Nevada on June 13, 1997. It changed its name from Stem Cell Assurance, Inc. on August 15, 2011, and reincorporated in Nevada effective December 31, 2022. The company develops therapeutic products using cell and tissue protocols, primarily involving adult stem cells.
Its Disc/Spine Program is pursuing BRTX-100 as its initial investigational therapeutic product. A Phase 2 trial is studying BRTX-100 for chronic lower back pain arising from degenerative disc disease, and the FDA cleared an Investigational New Drug application to evaluate BRTX-100 for chronic cervical discogenic pain. The ThermoStem Program is a preclinical program that uses brown adipose fat for the cell-based treatment of type 2 diabetes and obesity, as well as hypertension, other metabolic disorders and cardiac deficiencies.
Recent clinical and financing events
In February 2025, the FDA granted Fast Track designation to the BRTX-100 program for chronic lumbar disc disease. The company reported preliminary 26- and 52-week blinded data from the first 15 patients, with no serious adverse events in any of the 15 subjects. In June 2025, it reported preliminary blinded data from 36 patients, saying that over 74% showed greater than 50% improvement in function by 52 weeks and over 72% reported greater than 50% reduction in pain. Blinded data do not separate drug from placebo, and the filings give no p-values.
In February 2026, it completed a public offering of 12,560,715 shares of common stock, with pre-funded warrants for up to 1,725,000 shares and warrants for up to 14,285,715 shares. The gross proceeds were $5,000,000.
Financial position
Research and development expense was $10.1 million in 2025 and $6.7 million in 2024. The net loss was $14.2 million in 2025 and $9.0 million in 2024. Cash from operations was negative $10.8 million in 2025 and negative $8.2 million in 2024. Year-end cash and cash equivalents were $1.5 million for 2025 and $547,890 for 2024, and year-end short-term investments were $1.4 million for 2025 and $10.2 million for 2024. At March 31, 2026, cash and cash equivalents were $3.1 million and short-term investments were $479,351.
What comes next
The company's stated next step is to submit a Phase 3 IND during 2026. The February 2026 offering raised $5,000,000 against $10.8 million of cash used in operations in 2025, and the warrants for up to 14,285,715 shares could add to the share count if exercised. The annual report also notes a stock repurchase program of up to $2 million authorized in June 2025, under which no shares had been repurchased.