Company: NCEL
Filing Date: 2025-10-17
Form Type: POS AM
Source: 0001213900-25-099986
Chunk: 26

Company: NewcelX Ltd.
Filing Date: 2025-10-17
Form: POS AM
Chunk 26
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 31, 2023. Research and Development Expenses Research and development expenses were $992,425 for the year ended December 31, 2024, representing a decrease of $615,544 compared to $1,607,969 in 2023. The decrease is primarily due to an efficiency program implemented by Kadimastem, which included a reduction in staff and service providers. In addition, during the reporting period, Kadimastem successfully completed the submission of the IND application to the FDA, an expensive process that included research work, testing, and very expensive regulation related expenses. Sales and Marketing Expenses Sales and marketing expenses for the year ended December 31, 2024 were $0, a decrease of $81,306 from $81,306 for the year ended December 31, 2023. This decline was primarily attributed to reduced salary expenses and decreased spending on advertising and public relations. General and Administrative Expenses General and administrative expenses for the year ended December 31, 2024 were $793,183, representing a reduction of $509,616 compared to $1,302,799 for the year ended December 31, 2023. This decrease was driven by cost -cuttingmeasures as part of Kadimastem’s ongoing efficiency program as described above. Other Expenses (Expenses for merger with NLS) Other expenses (expenses for Merger with NLS) for the year ended December 31, 2024 were $268,720 representing the expenses in connection with the Merger with NLS. No such expenses for the year ended December 31, 2023, as there were no Merger expenses in 2023. Operating Loss Operating loss for the year ended December 31, 2024, was $2,054,328, representing a decrease of $937,746 compared to $2,992,074 for the year ended December 31, 2023. The decrease was primarily due to the decrease in research and development expenses, sales and marketing expenses, and general and administrative expenses. 15 Financial expenses net Finance expenses, net for the year ended December 31, 2024, were $5,131,136, representing an increase of $4,814,312, compared to $316,824 for the year ended December 31, 2023. The increase was primarily due to the non -cashrevaluation of derivative loans from related parties and non -cashfinancing expenses of lease liabilities. Net Loss The net loss for