Company: NCEL
Filing Date: 2025-03-31
Form Type: F-4/A
Source: 0001213900-25-026428
Chunk: 308

Company: NewcelX Ltd.
Filing Date: 2025-03-31
Form: F-4/A
Chunk 308
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 this proxy statement/prospectus, as well as NLS’s unaudited interim condensed financial statements and the related notes thereto for the six months ended June 30, 2024, incorporated by reference in this proxy statement/prospectus. The discussion below contains forward -lookingstatements that are based upon our current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from these expectations due to inaccurate assumptions and known or unknown risks and uncertainties. The following financial data in this narrative are expressed in thousands of U.S. dollars, except for share and per share data or as otherwise noted. Our current operating expenses consist of two components — research and development expenses and general and administrative expenses. Research and Development Expenses Our research and development expenses are expensed as incurred and consist primarily of costs of third -partyclinical consultants who conduct clinical and pre -clinicaltrials on our behalf as well as expenses related to lab supplies, materials and facility costs. Clinical trial costs are a major component of research and development expenses. We accrue and expense clinical trial activities performed by third parties based upon actual work completed in accordance with agreements established with clinical research organizations and clinical sites. We determine the actual costs through monitoring patient enrollment and discussions with internal personnel and external service providers as to the progress or stage of completion of trials or services and the agreed -uponfee to be paid for such services. Our research and development expenses have materially increased and will continue to increase in the future as we enter into the Phase 3 clinical development stage of our product candidates and initiate a number of new research initiatives that are complementary to our existing and planned research initiatives and thereby recruit additional research and development employees. General and Administrative Expenses General and administrative expenses include personnel costs, expenses for outside professional services, and all other general and administrative expenses. Personnel costs consist of salaries, cash bonuses and benefits. Outside professional services consist of legal fees (including intellectual property and corporate matters), accounting and audit services, IT and other consulting fees. Finance Expense and Income Other expenses include exchange rate differences and financial expenses related to credit card fees. Interest expense relates to interest paid for our financing obligations. Taxation NLS Pharmaceutics is subject to corporate Swiss federal, cantonal and communal taxation in Canton of Zurich, Switzerland. For Swiss tax purposes, we are entitled to carry forward tax losses incurred for a period of seven years and can offset such losses carried forward against future taxable income. As of December 31, 2023, tax loss carryforwards totaling CHF 34.