Company: NCEL
Filing Date: 2025-09-03
Form Type: F-4/A
Source: 0001213900-25-084157
Chunk: 204

Company: NewcelX Ltd.
Filing Date: 2025-09-03
Form: F-4/A
Chunk 204
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 additional funding before it can expect to complete the development of AstroRx ®and IsletRx or any other product candidate. This additional financing may not be available on acceptable terms, or at all. Failure to obtain this necessary capital when needed may force Kadimastem to delay, limit or terminate its product candidate development efforts or other operations. Even if the Merger is completed, Kadimastem expects it will require substantial additional capital to commercialize its product candidates. In addition, its operating plans may change as a result of many factors that may not currently be known to it, and it may need to seek additional funds sooner than planned. Kadimastem’s future funding requirements will depend on many factors, including but not limited to: •its clinical trial results; •the cost, timing and outcomes of seeking marketing approval of AstroRx ®and/or IsletRx; •the cost of filing and prosecuting patent applications and the cost of defending its patents; •the cost of prosecuting patent infringement actions against third parties; •development of other early -stagedevelopment product candidates; •the costs associated with commercializing AstroRx ®and/or IsletRx if Kadimastem receives marketing approval, including the cost and timing of establishing sales and marketing capabilities to market and sell AstroRx ®and/or IsletRx; •subject to receipt of marketing approval, revenue received from sales of approved products, if any, in the future; •any product liability or other lawsuits related to Kadimastem’s products; •the expenses needed to attract and retain skilled personnel; and •the costs associated with being a public company. Any additional fundraising efforts may divert its management from their day -to-dayactivities, which may adversely affect Kadimastem’s ability to develop and commercialize its product candidates. In addition, Kadimastem cannot guarantee that future financing will be available in sufficient amounts or on terms acceptable to it, if at all. Moreover, the terms of any financing may adversely affect the holdings or the rights of holders of its securities and the issuance of additional securities, whether equity or debt, by it, or the possibility of such issuance, may cause the market price of its common shares to decline. The incurrence of indebtedness could result in increased fixed payment obligations, and Kadimastem may be required to agree to certain restrictive covenants, such as limitations on its ability to incur additional debt, limitations on its ability to acquire, sell or license intellectual property rights and other operating restrictions that could adversely impact its ability to conduct