Company: NCEL
Filing Date: 2025-03-03
Form Type: F-4/A
Source: 0001213900-25-018981
Chunk: 305

Company: NewcelX Ltd.
Filing Date: 2025-03-03
Form: F-4/A
Chunk 305
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 and development activities are essential to our business and historically represented the majority of our costs incurred. Costs for certain development activities, such as clinical trials, are recognized based on an evaluation of the progress to completion of specific tasks using information from the clinical sites and our vendors. In addition to these arrangements, we expect that our total future research and development costs will increase over current levels in line with strategy to progress the development of our product candidates, as well as discovery and development of new product candidates. The following table summarizes our research and development expenses during the six months ended June 30, 2024 and 2023:

|                                  |     | For the Six Months Ended 
 June 30,                 |    2024 |   |     |   |      2023 |
|:---------------------------------|:----|:-------------------------|--------:|:--|:----|:--|----------:|
| Pre-clinical development         |     | $                        |  27,221 |   |     | $ |   251,843 |
| Clinical development             |     |                          |  (4,017 | ) |     |   | 1,562,710 |
| Clinical manufacturing costs     |     |                          |     808 |   |     |   | 1,639,040 |
| Staff costs                      |     |                          |   4,671 |   |     |   |   191,130 |
| Share-based compensation expense |     |                          |  (3,569 | ) |     |   |    13,400 |
| Subcontractors                   |     |                          |  76,236 |   |     |   |   722,366 |
| Other, Licenses                  |     |                          | 170,000 |   |     |   |     3,136 |
| Total                            |     | $                        | 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