Chemomab Therapeutics Ltd. and its subsidiaries Interim Condensed Consolidated Financial Statements As of June 30, 2024 (Unaudited) |
June 30,
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December 31,
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Note |
2024
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2023
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Assets
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Current assets
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Cash and cash equivalents
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Short term bank deposits
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Restricted cash
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Other receivables and prepaid expenses
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Total current assets
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Non-current assets
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Long term prepaid expenses
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Property and equipment, net
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Operating lease right-of-use assets
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Total non-current assets
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Total assets
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Current liabilities
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Trade payables
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Accrued expenses
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Employee and related expenses
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Operating lease liabilities
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Total current liabilities
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Non-current liabilities
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Operating lease liabilities - long term
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Total non-current liabilities
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Commitments and contingent liabilities
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3
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Total liabilities
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Shareholders' equity (*)
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Ordinary shares
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- | - | |||||||||
Issued and outstanding:
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Additional paid in capital
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Accumulated deficit
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(
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)
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(
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)
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Total shareholders’ equity
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Total liabilities and shareholders’ equity
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3
Three months
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Three months
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Six months
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Six months
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Ended
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Ended
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Ended
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Ended
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June 30,
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June 30,
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June 30,
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June 30,
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2024
|
2023
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2024
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2023
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Operating expenses
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Research and development
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General and administrative
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Total operating expenses
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Financing income, net
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Loss before taxes
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Taxes on income
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Net loss for the period
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Basic and diluted loss per Ordinary Share (*)
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Weighted average number of Ordinary Shares outstanding, basic, and diluted (*)
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4
Ordinary
Shares (*)(**)
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Additional
paid in
capital
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Accumulated
Deficit
|
Total Shareholders’ equity
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Number
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USD
|
USD
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USD
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USD
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For the Six-month period ended on June 30, 2024
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Balance as of January 1, 2024
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(
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)
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Share-based compensation
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-
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Issuance of shares
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Net loss for the period
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-
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(
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)
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(
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)
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Balance as of March 31, 2024
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(
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)
|
|
Share-based compensation
|
-
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Issuance of shares
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Net loss for the period
|
-
|
|
|
(
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)
|
(
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)
|
|||||||||||||
Balance as of June 30, 2024
|
|
|
|
(
|
)
|
|
Ordinary
Shares (*)(**)
|
Treasury
Share
|
Additional
paid in
capital
|
Accumulated
Deficit
|
Total Shareholders’ equity
|
||||||||||||||||||||||||
Number
|
USD
|
Number
|
USD
|
USD
|
USD
|
USD
|
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For the six-month period ended on June 30, 2023
|
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Balance as of January 1, 2023
|
|
|
(
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)
|
(
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)
|
|
(
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)
|
|
||||||||||||||||||
Share-based compensation
|
-
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Net loss for the year
|
-
|
|
|
|
|
(
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)
|
(
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)
|
|||||||||||||||||||
Balance as of March 31, 2023
|
|
|
(
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)
|
(
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)
|
|
(
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)
|
|
Share-based compensation
|
-
|
|
|
|
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Issuance of shares, net of issuance expenses
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Net loss for the year
|
-
|
|
|
|
|
(
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)
|
(
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)
|
|||||||||||||||||||
Balance as of June 30, 2023
|
|
|
(
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)
|
(
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)
|
|
(
|
)
|
|
Six months
|
Six months
|
|||||||
ended
|
Ended
|
|||||||
June 30,
|
June 30,
|
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2024
|
2023
|
|||||||
Cash flows from operating activities
|
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Net loss for the period
|
(
|
)
|
(
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)
|
||||
Adjustments for operating activities:
|
||||||||
Depreciation
|
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Share-based compensation
|
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Change in other receivables and prepaid expenses (short and long term)
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|
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Change in operating leases
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|
(
|
)
|
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Change in trade payables
|
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||||||
Change in accrued expenses
|
(
|
)
|
(
|
)
|
||||
Change in employees and related expenses
|
(
|
)
|
|
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Net cash used in operating activities
|
(
|
)
|
(
|
)
|
||||
Cash flows from investing activities
|
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Decrease in bank deposits
|
|
|
||||||
Purchase of property and equipment
|
|
(
|
)
|
|||||
Net cash provided by investing activities
|
|
|
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Cash flows from financing activities
|
||||||||
Issuance of Shares, net of issuance expenses
|
|
|
||||||
Net cash provided by financing activities
|
|
|
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Decrease in cash, cash equivalents and restricted cash
|
(
|
)
|
(
|
)
|
||||
Cash, cash equivalents and restricted cash at beginning of period
|
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|
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Cash, cash equivalents and restricted cash at end of period
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CHEMOMAB THERAPEUTICS LTD AND ITS SUBSIDIARIES
NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
A. |
Chemomab Therapeutics Ltd. (the “Company") is an Israeli-based company incorporated under the laws of the State of Israel in September 2011. The Company’s registered office is located in Kiryat Atidim, Tel Aviv, Israel. The Company is a clinical-stage biotech company discovering and developing innovative therapeutics for conditions with high-unmet medical need that involve inflammation and fibrosis. The wholly owned subsidiaries of the Company are: Chemomab Ltd. ("Chemomab"), Chemomab Therapeutics Israel Ltd. and Chemomab Therapeutics Inc.
|
B. |
In October 2023, the Company entered into an At the Market Offering Agreement (the "Roth ATM Agreement") with Roth Capital Partners, LLC, (“Roth”). According to the Roth ATM Agreement, the Company may offer and sell, from time to time, its ADSs having an aggregate offering price of up to $
|
8
CHEMOMAB THERAPEUTICS LTD AND ITS SUBSIDIARIES
NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
A.
|
Basis of Preparation
|
B.
|
Use of estimates
|
9
CHEMOMAB THERAPEUTICS LTD AND ITS SUBSIDIARIES
(FORMERLY ANCHIANO THERAPEUTICS LTD.)
NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS