Company: NCEL
Filing Date: 2025-05-16
Form Type: 20-F
Source: 0001213900-25-044868
Chunk: 304

Company: NewcelX Ltd.
Filing Date: 2025-05-16
Form: 20-F
Item: Item 5
Chunk 304
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 63%, compared to $11,807,063 for the year ended December 31, 2023. Our operating loss reflects ongoing investment in R&D and clinical trials as we advance our pipeline along with general and administrative operational costs.
Other Income for Termination of EF License Agreement

Other income for termination of EF License Agreement for the year ended December 31, 2024 was $2.5 million. On August 28, 2024, we agreed with Eurofarma to terminate the EF License Agreement effective September 30, 2024 and we recognized $2.5 million from the EF License Agreement as Other income for termination of EF License Agreement. This termination reflects a change in the Company’s strategic direction, as management has decided to discontinue the development and commercialization of its product candidate, Nolazol, in Latin American countries through a strategic partnership with Eurofarma, a Brazilian pharmaceutical company.
Other Income (Expense), net

Other income (expense) consists of exchange rate differences. We recognized other income of $49,351 for the year ended December 31, 2024, representing a decrease of $269,163, or 122%, compared to Other expense $219,812 for the year ended December 31, 2023. The increase in Other income, net was attributable to favorable exchange rate differences.
Interest Expense

Interest expense was $45,054, for the year ended December 31, 2024 representing a decrease of $74,866, or 62%, compared to expense of $119,920, for the year ended December 31, 2023. The decrease was due to less interest due to from notes payable no longer outstanding.

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Interest on Related Party Loans

Interest on related party loans was $104,963, for the year ended December 31, 2024 representing an increase of $79,730, or 316%, compared to expense of $25,233, for the year ended December 31, 2023. The increase was due to a series of short-term loan agreements with certain existing shareholders of the Company that were forgiven in October 2024.
Net Loss

As a result of the foregoing, our net loss totaled $1,980,810 for the year ended December 31, 2024, representing a decrease of $10,191,219, or 84%, compared to $12,172,029 for the year ended December 31, 2023. As a pre-revenue emerging