Company: NCEL
Filing Date: 2025-07-18
Form Type: F-4/A
Source: 0001213900-25-065783
Chunk: 463

Company: NewcelX Ltd.
Filing Date: 2025-07-18
Form: F-4/A
Chunk 463
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imastem 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 December31, 2024 was $0, a decrease of $81,306 from $81,306 for the year ended December31, 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 December31, 2024 were $793,183, representing a reduction of $509,616 compared to $1,302,799 for the year ended December31, 2023. This decrease was driven by cost -cuttingmeasures as part of Kadimastem’s ongoing efficiency program as described above.

247 Other Expenses (Expenses for merger with NLS) Other Expenses (Expenses for Merger with NLS) for the year ended December31, 2024 were 268,720 representing the expenses in connection with the Merger with NLS. No such expenses for the year ended December31, 2023, as there were no Merger expenses in 2023. Operating Loss Operating loss for the year ended December31, 2024, was $2,054,328, representing a decrease of $937,746 compared to $2,992,074 for the year ended December31, 2023. The decrease was primarily due to the decrease in research and development expenses, sales and marketing expenses, and general and administrative expenses. Financial expenses net Finance expenses, net for the year ended December31, 2024, were $5,131,136, representing an increase of $4,814,312, compared to $316,824 for the year ended December31, 2023. The increase was primarily due to the non cash revaluation