Company: NCEL
Filing Date: 2025-03-31
Form Type: F-4/A
Source: 0001213900-25-026428
Chunk: 310

Company: NewcelX Ltd.
Filing Date: 2025-03-31
Form: F-4/A
Chunk 310
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 | 271,350 |   |     | $ | 4,383,625 |

Our research and development expenses totaled $271,350 for the six months ended June 30, 2023, representing a decrease of $4,112,275, or 93.8%, compared to $4,383,625 for the six months ended June 30, 2023. This decrease was primarily due to delayed liquidity events and subsequent change in strategy, we drastically reduced R&D costs and activities, terminated subcontractor and other R&D agreements. In 2024 our remaining R&D resources will be focused on pre -clinicalDOXA Aexon Licensing. On March 19, 2024, we entered into an exclusive license agreement with Aexon Labs Inc., requiring an upfront payment of $170,000 by March 31, 2024. We have made significant progress over the past three months in developing our DOXA platform, a highly promising, cutting -edge, and potentially disease -modifyingmulti -targetedapproach to neurodegenerative and other diseases. Recent R&D efforts have yielded groundbreaking results, including the discovery of third -generationdual orexin receptor agonists that are also active on Cathepsin H (CTSH). This dual activity opens new therapeutic avenues for conditions related to neurodegeneration and sleep disorders, offering a competitive edge in the development of multi -targetdrugs. General and Administrative Expenses Our general and administrative expenses totaled $1,782,142 for the six months ended June 30, 2024, representing a decrease of $1,383,716, or 43.7%, compared to $3,165,858 for the six months ended June 30, 2023. This reduction was primarily attributable to decreases in insurance costs related to directors’ and officers’ insurance coverage for members of our Board and executive officers, as well as reductions in accounting services, staff, rent, legal counsel, marketing and communication costs, and travel expenses. Operating Loss As a result of the foregoing, our operating loss totaled $2,053,492 for the six months ended June 30, 2024, representing a decrease of $5,495,991, or 72.8%, compared to $7,549,483 for the six months ended June 30, 2023. Other Income/Expense, net Other income consists of exchange rate differences and financial expenses related to our credit card fees. We recognized other income of $104,