Company: NCEL
Filing Date: 2025-10-17
Form Type: POS AM
Source: 0001213900-25-099986
Chunk: 24

Company: NewcelX Ltd.
Filing Date: 2025-10-17
Form: POS AM
Chunk 24
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13 Comparison of the Six Months Ended June 30, 2025 and 2024 Revenues Kadimastem had no revenues from operations in each of the six months ended June 30, 2025, and June 30, 2024. Cost of Revenues Kadimastem had no costs of revenues from operations in each of the six months ended June 30, 2025, and June 30, 2024. Research and Development Expenses Research and development expenses were $575,875 for the six months ended June 30, 2025, representing an increase of $165,480 compared to $410,395 in the six months ended June 30, 2024. The increase is primarily attributable to numbers of batch manufacturing in preparation for Kadimastem’s clinical trials related to both ALS and diabetes, an increase in expenses relating to consultants and subcontractors, as well as an increase in share -basedpayments. Over the past 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. As well as engagement with an international CDMO for large -scalebatch manufacturing. Sales and Marketing Expenses Kadimastem had no sales and marketing expenses in each of the six months ended June 30, 2025, and June 30, 2024. General and Administrative Expenses General and administrative expenses for the six months ended June 30, 2025 were $685,659, representing an increase of $309,373 compared to $376,286 for the six months ended June 30, 2024. The increase was primarily attributable to an increase in share -basedpayment expenses, office rent and maintenance, and