Company: NCEL
Filing Date: 2025-06-23
Form Type: F-4/A
Source: 0001213900-25-056787
Chunk: 416

Company: NewcelX Ltd.
Filing Date: 2025-06-23
Form: F-4/A
Chunk 416
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 $422,051 for the year ended December31, 2024, representing a decrease of $5,486,237, or 93%, compared to $5,908,288 for the year ended December31, 2023. The decrease was primarily due to delayed liquidity events and subsequent change in strategy, as we reduced R&D costs and activities, terminated subcontractor and other R&D agreements. In 2024, we focused on Aexon licensing for pre -clinicalDOXA. General and Administrative Expenses Our general and administrative expenses totaled $3,214,224 for the year ended December31, 2024, representing a decrease of $2,684,551, or 46%, compared to $5,898,775 for the year ended December31, 2023. This reduction was primarily attributable to decreases in costs related to professional services, employee payroll, directors’ and officers’ insurance, information technology, marketing and communication, and travel. Merger transaction costs Our Merger transaction costs totaled $743,838 for the year ended December31, 2024, compared to $0 for the year ended December31, 2023. These costs were primarily attributable to increase in legal counsel, audit and accounting fees related to the ongoing Merger transaction. Operating Loss As a result of the foregoing, our operating loss totaled $4,380,113 for the year ended December31, 2024, representing a decrease of $7,426,950 or 63%, compared to $11,807,063 for the year ended December31, 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 December31, 2024 was $2.5million. On August28, 2024, we agreed with Eurofarma to terminate the EF License Agreement effective September30, 2024 and we recognized $2.5million 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.

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Other Income (Expense), net Other income (expense) consists of exchange rate differences. We recognized other income of $49,351 for