Financing ·
NewcelX reports $2.9M net loss, raises $2.75M in two private placements, cites going concern doubt
NCELNewcelX Ltd.
NewcelX Ltd. filed its interim financial statements for the six months ended June 30, 2026, reporting a net loss of $2.9 million and cash on hand of $710 thousand. The company raised $1.35 million in April 2026 through a PIPE offering at $2.75 per share, which triggered down-round provisions reducing the conversion prices of legacy preferred shares and warrants to that level. Subsequent to quarter-end, NewcelX closed another private placement on July 30, 2026, raising $1.4 million at $4.033 per share. The filing also discloses a successful Pre-IND meeting with the FDA for its lead program NCEL-101 and notes substantial doubt regarding the company's ability to continue as a going concern due to recurring losses and limited cash reserves. NewcelX Ltd. is a clinical-stage biopharmaceutical company developing stem cell-based therapies for Type 1 Diabetes and neurodegenerative diseases.