The company maintains a zero-revenue profile with recent quarterly SG&A expenses of $1.6M significantly outpacing the $142.1K allocated to R&D, indicating a shift toward administrative maintenance.
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | - | - | - | - | - | - | - | - | - |
| Cost of Goods Sold | 11.01K | 3.32K | 11.41K | 11.41K | 10.05K | 0 | 0 | 0 | 0 |
| COGS % of Revenue | - | - | - | - | - | - | - | - | - |
| Gross Profit | -11.01K | -3.32K | -11.41K | -11.41K | -10.05K | 0 | 0 | 0 | 0 |
| Gross Margin % | - | - | - | - | - | - | - | - | - |
| Gross Profit Growth % | - | 70.89% | 0% | -13.51% | - | - | - | - | - |
| Operating Expenses | 9.67M | 4.38M | 11.81M | 15.47M | 11.85M | 2.3M | 4.2M | 3.45K | 5.77M |
| OpEx % of Revenue | - | - | - | - | - | - | - | - | - |
| Selling, General & Admin | 4.85M | 3.21M | 5.9M | 6.49M | 5.93M | 2.2M | 2.49M | 2.74K | 1.44M |
| SG&A % of Revenue | - | - | - | - | - | - | - | - | - |
| Research & Development | 565.66K | 422.05K | 5.91M | 8.98M | 5.92M | 99.58K | 1.7M | 708 | 4.32M |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 1000K | 743.84K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -10.42M | -4.38M | -11.81M | -15.48M | -11.86M | -2.3M | -4.2M | -3.45K | -5.77M |
| Operating Margin % | - | - | - | - | - | - | - | - | - |
| Operating Income Growth % | - | 62.9% | 23.74% | -30.54% | -415.82% | 45.21% | -121593.51% | 99.94% | - |
| EBITDA | -10.41M | -4.38M | -11.8M | -15.47M | -11.85M | -2.63M | -1 | 0 | 0 |
| EBITDA Margin % | - | - | - | - | - | - | - | - | - |
| EBITDA Growth % | 65.67% | 62.89% | 23.76% | -30.55% | -350.98% | -99999900% | - | - | - |
| D&A (Non-Cash Add-back) | 5.31K | 3.32K | 11.41K | 11.41K | 10.05K | 0 | 4.2M | 3.45K | 5.77M |
| EBIT | -10.01M | -3.64M | -11.81M | -15.48M | -11.88M | -2.63M | -4.63M | -3.45K | -5.77M |
| Net Interest Income | -295.43K | -150.02K | -145.15K | -100.77K | -68.06K | -233.47K | -818.89K | -1.08K | -889.51K |
| Interest Income | 0 | 0 | 0 | 101 | 68 | 234 | 820 | 0 | 890 |
| Interest Expense | 295.43K | 150.02K | 145.15K | 100.87K | 68.13K | 233.7K | 819.71K | 1.08K | 890.4K |
| Other Income/Expense | 1.66M | 2.4M | -364.97K | -1.01M | -85.46K | -562.07K | -1.25M | -1.7K | -890.4K |
| Pretax Income | -8.76M | -1.98M | -12.17M | -16.5M | -11.95M | -2.86M | -5.45M | -5.15K | -6.66M |
| Pretax Margin % | - | - | - | - | - | - | - | - | - |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -5.77K |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0.09% |
| Net Income | -4.21M | -1.98M | -12.17M | -16.5M | -11.95M | -2.86M | -5.45M | -5.15K | -6.66M |
| Net Margin % | - | - | - | - | - | - | - | - | - |
| Net Income Growth % | 86.63% | 83.73% | 26.21% | -38.08% | -317.49% | 47.47% | -105736.27% | 99.92% | - |
| Net Income (Continuing) | -8.76M | -1.98M | -12.17M | -16.5M | -11.95M | -2.86M | -5.45M | -5.15K | -6.66M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -10.50 | -26.30 | -3.20 | -8.40 | -8.10 | -5.90 | -4.90 | -329.90 | -5.70 |
| EPS Growth % | -42.48% | -721.88% | 61.9% | -3.7% | -37.29% | -20.41% | 98.51% | -5687.72% | - |
| EPS (Basic) | - | -26.30 | -3.20 | -8.40 | -8.10 | -5.90 | -4.90 | -329.90 | -5.70 |
| Diluted Shares Outstanding | 400.49K | 154.33K | 3.82M | 1.97M | 1.47M | 481.93K | 1.11M | 16 | 1.18M |
| Basic Shares Outstanding | 400.49K | 75.3K | 3.82M | 1.97M | 1.47M | 481.93K | 1.11M | 16 | 1.18M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
Imminent liquidity exhaustion
As indicated by the company's historical financial statements, NCEL has maintained a zero-revenue profile across all reported periods, confirming its status as a pre-commercial biotechnology entity that remains entirely dependent on external capital markets to fund its ongoing research and development activities and corporate overhead.
The lack of top-line growth is consistent with a development-stage firm that has yet to achieve clinical validation or a commercial partnership. Investors should interpret this trajectory as a binary risk, where the absence of revenue necessitates a reliance on dilutive financing to sustain operations.
Based on the provided income statement data, NCEL's cost structure is dominated by fluctuating R&D and SG&A expenses, with the most recent quarterly SG&A of $1.6M significantly outpacing the $142.1K allocated to research, suggesting a potential shift toward administrative maintenance over core scientific advancement.
The volatility in R&D spending, which peaked at $4.4M in 2023Q2 before declining sharply, implies that the company may be managing its cash runway by throttling clinical trial activity. This pattern of expense management warrants further investigation into whether the firm is prioritizing survival over the necessary investment required to reach critical clinical milestones.
According to the reported figures, NCEL exhibits no operating leverage, as the company continues to generate significant operating losses, with the most recent quarter showing an operating loss of $1.8M despite the absence of any meaningful revenue generation or scalable cost efficiencies within the business model.
The inability to scale operating income relative to gross profit is a structural reality for a pre-revenue firm. The persistent negative operating margins suggest that the company's current cost base is disconnected from any near-term path to profitability, placing the burden of proof entirely on future clinical outcomes.
As reported in recent financial disclosures, the company's cash position of $1.66M against a quarterly operating loss of $1.8M suggests an unsustainable burn rate that likely necessitates an immediate capital raise or strategic transaction to avoid insolvency within the next two fiscal quarters.
Short-sellers would likely focus on the narrowing gap between the current cash balance and the ongoing burn rate, which leaves little room for operational error or clinical delays. The reliance on equity markets in a high-interest rate environment poses a severe risk of extreme dilution for existing shareholders.
Quick answers to the most common questions about buying NCEL stock.
For fiscal year 2024, NewcelX Ltd. (NCEL) reported total revenue of $0.0M.
NewcelX Ltd. (NCEL) reported a net loss of $2.0M for the fiscal year ending 2024.