Company: NCEL
Filing Date: 2025-05-16
Form Type: 20-F
Source: 0001213900-25-044868
Chunk: 305

Company: NewcelX Ltd.
Filing Date: 2025-05-16
Form: 20-F
Item: Item 5
Chunk 305
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 biopharmaceutical company, such losses are expected and aligned with our strategy to achieve long-term value through successful product development.

Net Loss attributable to common shareholders

Our net loss attributable to holders of our common shares for the year ended December 31, 2024 was $4,056,990 and for the year ended December 31, 2023 was $12,172,029. The decrease resulted from a reduction in net loss, offset by a deemed dividend totaling $2,076,180 for the incremental value from the modification of various warrants’ exercise price and the fair value of the warrants issued as consideration for executing the September Warrant Amendment and the October Warrant Amendment.

B. Liquidity and Capital Resources

Overview

During the year December 31, 2024, we funded our operations with $5,252,725 from the issuance of common shares and preferred shares in private offerings and $173,123 from the exercise of pre-funded warrants. As of December 31, 2024, we had $1,665,395 in cash and cash equivalents. 

The table below summarizes our cash flows for the years ended December 31, 2024 and 2023:

                                                              2024                     2023          
-----------------------------------------------------------------------------------------------------
Net cash used in operating activities                         $(4,267,884   )       $(9,684,466     )
Net cash used in investing activities                              (3,917   )               -        
Net cash provided by financing activities                      $5,039,516           $1,633,746       
Net increase (decrease) in cash and cash equivalents             $767,715           $(8,050,720     )
Operating Activities

Net cash used in operating activities was $4,267,884 during the year ended December 31, 2024 compared with net cash used in operating activities of $9,684,466 for the year ended December 31, 2023. The change in cash used in operating activities for the year ended December 31, 2024 was due to our reporting a net loss of $1,980,810 for the year ended December 31, 2024, compared with a net loss of $12,172,029 for the same period in 2023, driven mainly by a $7,426,950 decrease in total operating costs and a $2,499,969 increase in Other income due to the termination of EF Licensing Agreement for the year ended December 31, 2024.

Until we