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**UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 20-F

(Mark One)

☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934

OR

☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31,2023

OR

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

OR

☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of event requiring this shell company report _____

For the transition period from ____ to ____

Commission file number 001-36578

Enlivex Therapeutics Ltd.

(Exact name of Registrant as specified in its charter)

State of Israel

(Jurisdiction of incorporation or organization)

14 Einstein Street, Ness Ziona, Israel 7403618

(Address of principal executive offices)

Mr. Oren Hershkovitz

Tel:+972.2.6208072

Email: Oren@enlivexpharm.com

Facsimile:+972.2.6208070

14 Einstein Street, Ness Ziona, Israel 7403618

(Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person)

Securities registered or to be registered pursuant to Section 12(b) of the Act:

Title of each classTrading symbolName of each exchange on which registered
Ordinary Shares, par value NIS 0.40 per shareENLVNasdaq Capital Market

Securities registered or to be registered pursuant to Section 12(g) of the Act: None

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: None

Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the annual report.

18,598,555 ordinary shares, par value NIS 0.40 per share, as of December 31, 2023

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.

Yes ☐No ☒

If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.

Yes ☐No ☒

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer☐Accelerated filer☐
Non-Accelerated filer☒Emerging growth company☐

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards†provided pursuant to Section 13(a) of the Exchange Act. ☐

† The term “new or revised financial accounting standard” refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012.

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☒

If securities are being registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statement.☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.1D-1(b). ☐

Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:

U.S. GAAP ☒International Financial Reporting Standards as issued by the International Accounting Standards Board ☐Other ☐

If “Other” has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow.

Item 17 ☐ Item 18 ☐

If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act)

Yes ☐ No☒

TABLE OF CONTENTS

INTRODUCTIONii
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTSv
RISK FACTOR SUMMARYvii
PART ONE1
ITEM 1.IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS1
ITEM 2.OFFER STATISTICS AND EXPECTED TIMETABLE1
ITEM 3.KEY INFORMATION1
ITEM 4.INFORMATION ON THE COMPANY34
ITEM 4A.UNRESOLVED STAFF COMMENTS60
ITEM 5.OPERATING AND FINANCIAL REVIEW AND PROSPECTS60
ITEM 6.DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES69
ITEM 7.MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS79
ITEM 8.FINANCIAL INFORMATION85
ITEM 9.THE OFFER AND LISTING86
ITEM 10.ADDITIONAL INFORMATION86
ITEM 11.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK97
ITEM 12.DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES97
PART TWO98
98
ITEM 13.DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES98
ITEM 14.MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS98
ITEM 15.CONTROLS AND PROCEDURES98
ITEM 16.[RESERVED]98
ITEM 16A.AUDIT COMMITTEE FINANCIAL EXPERT98
ITEM 16B.CODE OF ETHICS98
ITEM 16C.PRINCIPAL ACCOUNTANT FEES AND SERVICES99
ITEM 16D.EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES99
ITEM 16E.PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS99
ITEM 16F.CHANGE IN REGISTRANT’S CERTIFYING ACCOUNTANT99
ITEM 16G.CORPORATE GOVERNANCE100
ITEM 16H.MINE SAFETY DISCLOSURE101
ITEM 16I.DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS101
ITEM 16J.INSIDER TRADING POLICIES101
ITEM 16K.CYBERSECURITY101
PART THREE103
ITEM 17.FINANCIAL STATEMENTS103
ITEM 18.FINANCIAL STATEMENTS103
ITEM 19.EXHIBITS104
SIGNATURES106

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.