Company: NCEL
Filing Date: 2025-05-16
Form Type: 20-F
Source: 0001213900-25-044868
Chunk: 85

Company: NewcelX Ltd.
Filing Date: 2025-05-16
Form: 20-F
Item: Item 3
Chunk 85
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 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  

  the cost of filing and prosecuting patent applications and  

  the cost of prosecuting patent infringement actions against  

  development of other early-stage development 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  

  subject to receipt of marketing approval, revenue received  

  any product liability or other lawsuits related to Kadimastem’s  

  the expenses needed to attract and retain skilled personnel;  

  the costs associated with being a public company.  

Any additional fundraising
efforts may divert its management from their day-to-day activities, 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 its business. Kadimastem could also be required to seek funds through arrangements with collaborative partners
or otherwise at an earlier stage than otherwise would be desirable, and it may be required to relinquish rights to some of its technologies
or product candidates or otherwise agree to terms unfavorable to it, any of which may have a material adverse effect on its business,
operating results and prospects. Even if it believes that it has sufficient funds for its current or future operating plans, Kadimastem
may seek additional capital if market conditions are favorable or if it has specific strategic considerations.

If Kadimastem is unable to
obtain funding on a timely basis, it may be required to significantly curtail, delay or dis