Company: NCEL
Filing Date: 2025-07-18
Form Type: F-4/A
Source: 0001213900-25-065783
Chunk: 464

Company: NewcelX Ltd.
Filing Date: 2025-07-18
Form: F-4/A
Chunk 464
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 of derivative loans from related parties and non -cashfinancing expenses of lease liabilities. Net Loss The net loss for the year ended December31, 2024, was $7,178,333, representing an increase of $3,923,910 compared to a net loss of $3,254,423 for the year ended December31, 2023. The increase is primarily due to increase in non -cashrevaluation of derivative loans from related parties offset by decrease in General and Administrative Expenses and Research and Development Expenses as part of the efficiency program as described above. Comparison of the Years Ended December 31, 2023 and 2022 Revenues Kadimastem had no revenues from operations in each of the years ended December31, 2023, and December31, 2022. Cost of Revenues Kadimastem had no costs of revenues from operations in each of the years ended December31, 2023, and December31, 2022. Research and Development Expenses Research and development expenses were $1,607,969 for the year ended December31, 2023, representing a significant decrease of $2,881,660 (64.2%) compared to $4,489,629 in 2022. The decrease is primarily due to an efficiency program implemented by Kadimastem as described above. This included a reduction in staff and service providers. Over the past three years, Kadimastem has maintained a strong focus on research and development in the field of medicine. Kadimastem has concentrated its efforts on developing innovative treatments for chronic and degenerative diseases, with key projects including AstroRx, a cell -basedtherapy for ALS, and IsletRx, a diabetes treatment aimed at insulin -dependentpatients. Both programs are in advanced clinical development stages and reflect Kadimastem’s commitment to tackling complex medical challenges. To support its research and development efforts, Kadimastem has established significant collaborations with leading academic institutions, including the Hadassah Medical Organization and Yeda Research and Development Company, granting it access to licensed stem cell patents and technical expertise. It has also secured funding from notable sources such as the Israel Innovation Authority and the BIRD Foundation, which have enabled Kadimastem to scale its operations and accelerate product development. Sales and Marketing Expenses Sales and marketing expenses for the year ended December31, 2023 were $81,306, a decrease of $183,051 (69.2%) from $264,357 for the year ended December31,