Company: RGNT
Filing Date: 2025-02-12
Form Type: DRS/A
Source: 0001213900-25-012299
Chunk: 105

Company: REGENTIS BIOMATERIALS LTD.
Filing Date: 2025-02-12
Form: DRS/A
Chunk 105
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791 thousand for the six months period ended June 30, 2023. The decrease resulted mainly
from an increase in professional fees and the recognition of prepaid issuance costs associated with the former initial public offering
process, recognized as expense following the entry into the business combination agreement, or BCA, with OceanTech Corp. during the second
quarter of 2023 and additional expenses associated with the BCA.

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Finance income

Finance income increased by
approximately $7,415 thousand, or 356.3%, to approximately $5,334 thousand for the six months period ended June 30, 2024,
compared finance expense, net to $2,081 thousand for the six months period ended June 30, 2023. The increase resulted mainly from
increase in a fair value revaluation of convertible notes and warrants.

Net loss

Net loss decreased by approximately
$10,493 thousand to a net income of approximately $7,207 thousand for the six months period ended June 30, 2024, compared
to a net loss of $3,286 thousand for the six months period ended June 30, 2023. The decrease in net loss was mainly the result
of an increase in finance income from fair value revaluation and from income recorded as part of research and development expenses which
was a result of Horizon 2020 Program approval.

Year Ended December 31, 2023 Compared to Year Ended December 31, 2022

Research and development expenses

Research and development expenses
decreased by approximately $165 thousand or 17.0%, to approximately $806 thousand for the year ended December 31, 2023, compared to $971
thousand for the year ended December 31, 2022. The decrease resulted mainly from a decrease in subcontractors’ expenses.

General and administrative expenses

General and administrative
expenses increased by approximately $689 thousand, or 158.0%, to approximately $1,125 thousand for the year ended December 31, 2023, compared
to approximately $436 thousand for the year ended December 31, 2022. The increase resulted mainly from an increase in professional fees
and the recognition of prepaid issuance costs associated with the former initial public offering process, recognized as expense following
the entry into the business combination agreement, or BCA, with OceanTech Corp. during the second quarter of 2023 and additional expenses
associated with the BCA.

Finance