Company: NCEL
Filing Date: 2025-11-06
Form Type: POS AM
Source: 0001213900-25-106799
Chunk: 21

Company: NewcelX Ltd.
Filing Date: 2025-11-06
Form: POS AM
Chunk 21
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 of June 30, 2025, the Company had recorded $296,154 in deferred offering costs related to the establishment of its equity line of credit, which had not yet been utilized. The Company had no deferred offering costs outstanding as of June 30, 2024 11 KADIMASTEM’S MANAGEMENT’S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS The following discussion and analysis of Kadimastem’s financial condition and results of operations for the six months ended June 30, 2025 and June 30, 2024 and for the years ended December 31, 2024 and 2023 and should be read in conjunction with the information included under “Kadimastem Business,” and Kadimastem’s financial statements and the accompanying notes included in the proxy statement/prospectus dated September 9, 2025, to which this Supplement relates and elsewhere in this Supplement, which were prepared in accordance with International Financial Reporting Standards, or IFRS. The discussion and analysis below are based on comparisons between Kadimastem’s historical financial data for different periods and include certain forward -looking statements about Kadimastem’s business, operations, and financial performance. These forward -looking statements are subject to risks, uncertainties, assumptions, and other factors described in “Risk Factors” in the proxy statement/prospectus. Kadimastem’s actual results may differ materially from those expressed in, or implied by, those forward -looking statements. See “Cautionary Note Regarding Forward -Looking Statements” in the proxy statement/prospectus. Overview Kadimastem is a clinical stage biotechnology company, with a unique platform for cell therapy that enables the production of off -the-shelfcell -basedproducts for the treatment of unmet medical needs. Kadimastem operates in the field of development of cell therapy, regenerative medicine, for the treatment of, among others, amyotrophic lateral sclerosis, or ALS, an incurable disease, for which Kadimastem received an orphan drug designation status from the U.S. Food and Drug Administration, or FDA, as well as cell therapy in the field of regenerative medicine for the treatment of diabetes, a disease that affects hundreds of millions of people worldwide, and its product has the potential to provide a cure for the disease. Kadimastem intends to be a leading company in the field of regenerative medicine products for the treatment of neurodegenerative diseases and a cure for diabetes