Company: NCEL
Filing Date: 2025-03-03
Form Type: F-4/A
Source: 0001213900-25-018981
Chunk: 321

Company: NewcelX Ltd.
Filing Date: 2025-03-03
Form: F-4/A
Chunk 321
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 such as office space downsizing and renegotiated leases. • Elimination of Discretionary Spending— Lower legal, accounting, and other professional service expenses as part of overall budgetary control measures. Kadimastem’s efficiency program resulted in substantial cost reductions in R&D and G&A expenses, contributing to a lower overall operating loss. The company strategically implemented workforce reductions, optimized service provider contracts, and curtailed discretionary spending to align with a leaner operational model. These measures led to a total expense reduction of over $1.1 million across both R&D and G&A categories, enabling Kadimastem to significantly narrow its operating losses while maintaining core operational viability. 175 Comparison of the Years Ended December 31, 2023 and 2022 Revenues Kadimastem had no revenues from operations in each of the years ended December 31, 2023, and December 31, 2022. Cost of Revenues Kadimastem had no costs of revenues from operations in each of the years ended December 31, 2023, and December 31, 2022. Research and Development Expenses Research and development expenses were $1,607,969 for the year ended December 31, 2023, representing a significant decrease of $2,881,660 (64.2%) compared to $4,489,629 in 2022. The decrease is primarily due to an efficiency program implemented by Kadimastem as described above. This included a reduction in staff and service providers. Over the past three years, Kadimastem has maintained a strong focus on research and development in the field of medicine. Kadimastem has concentrated its efforts on developing innovative treatments for chronic and degenerative diseases, with key projects including AstroRx, a cell -basedtherapy for ALS, and IsletRx, a diabetes treatment aimed at insulin -dependentpatients. Both programs are in advanced clinical development stages and reflect Kadimastem’s commitment to tackling complex medical challenges. To support its research and development efforts, Kadimastem has established significant collaborations with leading academic institutions, including the Hadassah Medical Organization and Yeda Research and Development Company, granting it access to licensed stem cell patents and technical expertise. It has also secured funding from notable sources such as the Israel Innovation Authority and the BIRD Foundation, which have enabled Kadimastem to scale its operations and accelerate product development. Sales and Marketing Expenses Sales and marketing expenses for the year ended December 31, 2023 were $81