Silexion Therapeutics Corp
For the period ended Sep 30, 2024. Filed Nov 14, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 14, 2024
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Item 1. Financial Statements
. FINANCIAL STATEMENTS
Explanatory Note
From its formation on April 2, 2024 until the consummation of the Business Combination on August 15, 2024, New Silexion had no operations and had been formed for the sole purpose of entering into the Business Combination and serving as the publicly-traded registrant resulting from the Business Combination. Consequently, for all periods prior to, and through, August 15, 2024, the financial condition and results of operations presented herein are those of Silexion, as the accounting acquirer in the Business Combination and the predecessor entity to the Company from an accounting perspective. Consequently, our financial statements included in this Part I, Item 1 of this Quarterly Report as of, and for the three and nine-month periods ended on, September 30, 2024 and September 30, 2023, respectively, reflect:
| (i) | as to the unaudited condensed consolidated balance sheets: |
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| a. | the information of New Silexion (as the combined company following the Business Combination) as of September 30, 2024, as compared to |
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| b. | the information of Silexion as of September 30, 2023 (as Silexion was the accounting acquirer in the Business Combination and the predecessor entity to New Silexion from an accounting perspective, whereas New Silexion was not even formed until April 2024); and |
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| (ii) | as to each of the unaudited condensed consolidated statements of operations, unaudited condensed consolidated statements of changes in redeemable convertible preferred shares and capital deficiency, and unaudited condensed consolidated statements of cash flows: |
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| a. | for the periods from January 1, 2024 (for the nine-month results) or July 1, 2024 (for the three-month results) through August 15, 2024 (the date of the Business Combination), the results of Silexion (which was the accounting acquirer in the Business Combination and the predecessor entity to New Silexion), and, for the remaining period from August 16, 2024 through September 30, 2024, the results of the combined company, as compared to |
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| b. | for the three- and nine- month periods beginning on January 1, 2023 or July 1, 2023 and ended, in each case, on September 30, 2023, the results of Silexion (as the accounting acquirer in the Business Combination and the predecessor entity to New Silexion). |
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UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
SEPTEMBER 30, 2024
F - 1
INTERIM FINANCIAL STATEMENTS
SEPTEMBER 30, 2024
(Unaudited)
TABLE OF CONTENTS
| Page | |
| CONSOLIDATED FINANCIAL STATEMENTS: | |
|---|---|
| Condensed Consolidated Balance Sheets (unaudited) | F-3-F-5 |
| Condensed Consolidated Statements of Operations (unaudited) | F-6 |
| Condensed Consolidated Statements of Changes in Redeemable Convertible Preferred Shares and Capital Deficiency (unaudited) | F-7-F-8 |
| Condensed Consolidated Statements of Cash Flows (unaudited) | F-9-F-10 |
| Notes to Condensed Consolidated Financial Statements (unaudited) | F-11-F-24 |
F - 2
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