Company: NCEL
Filing Date: 2025-05-16
Form Type: 20-F
Source: 0001213900-25-044868
Chunk: 33

Company: NewcelX Ltd.
Filing Date: 2025-05-16
Form: 20-F
Item: Item 3
Chunk 33
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 other early-stage development product candidates;  

  the costs associated with commercializing Quilience and/or Nolazol if we receive marketing approval, including the cost and timing of establishing sales and marketing capabilities to market and...  

  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 our 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 our management from their day-to-day activities, which may adversely affect our ability to develop and commercialize
our product candidates. In addition, we cannot guarantee that future financing will be available in sufficient amounts or on terms acceptable
to us, if at all. Moreover, the terms of any financing may adversely affect the holdings or the rights of holders of our securities and
the issuance of additional securities, whether equity or debt, by us, or the possibility of such issuance, may cause the market price
of our common shares or our publicly traded Warrants to decline. The incurrence of indebtedness could result in increased fixed payment
obligations, and we may be required to agree to certain restrictive covenants, such as limitations on our ability to incur additional
debt, limitations on our ability to acquire, sell or license intellectual property rights and other operating restrictions that could
adversely impact our ability to conduct our business. We could also be required to seek funds through arrangements with collaborative
partners or otherwise at an earlier stage than otherwise would be desirable, and we may be required to relinquish rights to some of our
technologies or product candidates or otherwise agree to terms unfavorable to us, any of which may have a material adverse effect on our
business, operating results and prospects. Even if we believe that we have sufficient funds for our current or future operating plans,
we may seek additional capital if market conditions are favorable or if we have specific strategic considerations.

If we are unable to obtain
funding on a timely basis, we may be required to significantly curtail, delay or discontinue one or more of our research or development
programs or the development or commercialization, if any, of any product candidates or be unable to expand our operations or otherwise
capitalize on our business opportunities, as desired, which could materially affect our business, financial condition and results of operations.

Risks Related to Our Reliance on Third Parties

We are dependent on a