Company: NCEL
Filing Date: 2025-06-23
Form Type: F-4/A
Source: 0001213900-25-056787
Chunk: 747

Company: NewcelX Ltd.
Filing Date: 2025-06-23
Form: F-4/A
Chunk 747
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 the Company’s development activities in the United States constituted a single distinct performance obligation under the EF License Agreement for accounting purposes (the “License Performance Obligation”). The Company had initially estimated a total transaction price of $ 2.5million, consisting of the fixed upfront payment determined to be an advance on the License Performance Obligation. Upon execution of the EF License Agreement, variable consideration consisting of milestone payments had been constrained and excluded from the transaction price given the significant uncertainty of achievement of the development and regulatory milestones. As a result, the Company allocated the transaction price entirely to a single License Performance Obligation and recorded $ 2.5million as deferred revenue, which would have been recognized when the development services of Nolazol were completed, and the product candidate received applicable regulatory approval in Latin America that allowed Eurofarma to commence commercialization of Nolazol in accordance with the EF License Agreement. On August 28, 2024, the Company agreed with Eurofarma to terminate the EF License Agreement effective September 30, 2024. Neither party has any claims against the other in relation to the EF License Agreement and its termination. As of December 31, 2024, the Company recognized $ 2.5million from its exclusive license agreement (the “EF License Agreement”) in the Statements of Operations and Comprehensive loss as Other income for termination of EF License Agreement. Note 8 Pension Liability: The Company joined a collective pension plan operated by an insurance company as of 2016 which covers the employees in Switzerland. Both the Company and the participants provide monthly contributions to the pension plan which are based on the covered salary. The respective saving parts of premiums are credited to employees’ accounts. In addition, interest is credited to employees’ accounts at the rate provided in the plan. The pension plan provides for retirement benefits as well as benefits on long -termdisability and death. Annex F-18 NLS PHARMACEUTICS LTD. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

The following table provides information on the pension plan for the years ended December 31, 2024, 2023 and 2022:

|                                                   |     |   |    2024 |   |     |   |    2023 |   |     |   |    2022 |   |
|:--------------------------------------------------|:----|:--|--------:|:--|:----|:--|--------:|:--|:----|