Company: NCEL
Filing Date: 2025-07-18
Form Type: F-4/A
Source: 0001213900-25-065783
Chunk: 450

Company: NewcelX Ltd.
Filing Date: 2025-07-18
Form: F-4/A
Chunk 450
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 development activities, such as clinical trials, are recognized based on an evaluation of the progress to completion of specific tasks using information from the clinical sites and our vendors. In addition to these arrangements, we expect that our total future research and development costs will increase over current levels in line with strategy to progress the development of our product candidates, as well as discovery and development of new product candidates. The following table summarizes our research and development expenses during the years ended December31, 2024 and 2023:

|                              |     | For the Year Ended 
 December 31,       |    2024 |     |   |      2023 |
|:-----------------------------|:----|:-------------------|--------:|:----|:--|----------:|
| Pre-clinical development     |     | $                  |  86,624 |     | $ |   270,233 |
| Clinical development         |     |                    |       — |     |   | 1,704,873 |
| Clinical manufacturing costs |     |                    |       — |     |   | 2,640,030 |
| License fee with Aexon       |     |                    | 182,485 |     |   |    30,000 |
| Subcontractors               |     |                    | 152,941 |     |   | 1,228,804 |
| Other                        |     |                    |       — |     |   |    34,348 |
| Total                        |     | $                  | 422,051 |     | $ | 5,908,288 |

Our research and development, or R&D, expenses totaled $422,051 for the year ended December31, 2024, representing a decrease of $5,486,237, or 93%, compared to $5,908,288 for the year ended December31, 2023. The decrease was primarily due to delayed liquidity events and subsequent change in strategy, as we reduced R&D costs and activities, terminated subcontractor and other R&D agreements. In 2024, we focused on Aexon licensing for pre -clinicalDOXA. General and Administrative Expenses Our general and administrative expenses totaled $3,214,224 for the year ended December31, 2024, representing a decrease of $2,684,551, or 46%, compared to $5,898,775 for the year ended December31, 2023. This reduction was primarily attributable to decreases in costs