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Genenta Science S.p.A.

For the period ended Dec 31, 2025. Filed Apr 1, 2026.

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About this filing

The yearly report of a company based outside the US. It covers much of what a 10-K does, and may follow accounting rules other than US ones.

FY2025 · Filed Apr 1, 2026

GNTA$0.99+20.6%Stored close · as of Nov 3, 2026
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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 12 (g) OF THE SECURITIES EXCHANGE ACT OF 1934

OR

For the fiscal year ended December 31,2025

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:001-41115

(Exact name of Registrant as specified in its charter)

N/A

(Translation of Registrant’s name into English)

Italy

(Jurisdiction of incorporation or organization)

Via dell’Annunciata No. 31

Milan, Italy

(Address of principal executive offices)

Via dell’Annunciata No. 31

Milan, Italy

Attn: Pierluigi Paracchi

Tel:+39-02.29.00.10.55

Email: pierluigi.paracchi@genenta.com

(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 symbol(s)Name of each exchange on which registered
American depositary shares (each American depositary share representing one ordinary share)GNTAThe Nasdaq Stock Market LLC (The Nasdaq Capital Market)
Ordinary shares, no par value*The Nasdaq Stock Market LLC (The Nasdaq Capital Market)
*Not for trading, but only in connection with the listing of American depositary shares on The Nasdaq Capital Market.

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

None

(Title of Class)

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act:

None

(Title of Class)

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.

The registrant had 23,432,183 ordinary shares outstanding as of December 31, 2025.

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

Note — Checking the box above will not relieve any registrant required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 from their obligations under those Sections.

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 definition of “large accelerated filer,” “accelerated filer,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one):

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 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 statements.☐

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 §240.10D-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

(APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PAST FIVE YEARS)

Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. ☐ Yes ☐ No

TABLE OF CONTENTS

Page
PART I
Item 1.Identity of Directors, Senior Management and Advisers3
Item 2.Offer Statistics and Expected Timetable3
Item 3.Key Information3
A.[Reserved]3
B.Capitalization and Indebtedness3
C.Reasons for the Offer and Use of Proceeds3
D.Risk Factors3
Item 4.Information on the Company64
A.History and Development of the Company64
B.Business Overview65
C.Organizational Structure100
D.Property, Plants and Equipment100
Item 4A.Unresolved Staff Comments100
Item 5.Operating and Financial Review and Prospects100
A.Operating Results100
B.Liquidity and Capital Resources111
C.Research and Development114
D.Trend Information114
E.Critical Accounting Estimates115
Item 6.Directors, Senior Management and Employees115
A.Directors and Senior Management115
B.Compensation117
C.Board Practices118
D.Employees121
E.Share Ownership121
F.Disclosure of a Registrant’s Action to Recover Erroneously Awarded Compensation121
Item 7.Major Shareholders and Related Party Transactions121
A.Major Shareholders121
B.Related Party Transactions123
C.Interests of Experts and Counsel126
Item 8.Financial Information126
A.Consolidated Statements and Other Financial Information126
B.Significant Changes126
Item 9.The Offer and Listing127
A.Offer and Listing Details127
B.Plan of Distribution127
C.Markets127
D.Selling Shareholders127
E.Dilution127
F.Expenses of the Issue127

i

Item 10.Additional Information127
A.Share Capital127
B.Memorandum and Articles of Association127
C.Material Contracts128
D.Exchange Controls128
E.Taxation129
F.Dividends and Paying Agents135
G.Statement by Experts135
H.Documents on Display135
I.Subsidiary Information135
Item 11.Quantitative and Qualitative Disclosures About Market Risk135
Item 12.Description of Securities Other Than Equity Securities136
A.Debt Securities136
B.Warrants and Rights136
C.Other Securities136
D.American Depositary Shares136
PART II
Item 13.Defaults, Dividend Arrearages and Delinquencies137
Item 14.Material Modifications to the Rights of Security Holders and Use of Proceeds137
Item 15.Controls and Procedures137
Item 16[Reserved]138
Item 16A— Audit Committee Financial Expert137
Item 16B— Code of Ethics137
Item 16C— Principal Accountant Fees and Services137
Item 16D— Exemption from the Listing Standards for Audit Committees139
Item 16E— Purchases of Equity Securities by the Issuer and Affiliated Purchasers139
Item 16F— Change in Registrant’s Certifying Accountant139
Item 16G— Corporate Governance139
Item 16H— Mine Safety Disclosure139
Item 16I— Disclosure Regarding Foreign Jurisdictions that Prevent Inspections139
Item 16J— Insider Trading Policies139
Item 16K— Cybersecurity139
PART III
Item 17Consolidated Financial Statements141
Item 18.Consolidated Financial Statements141
Item 19Exhibits141
Signatures142

ii

CERTAIN INFORMATION

As used in this Annual Report on Form 20-F (this “Annual Report”), unless otherwise indicated or the context otherwise requires, references to

●“we,” “Genenta,” “us,” “our,” “the Company,” or “our company” are to Genenta Science S.p.A., including its subsidiaries;
●“ordinary shares” are to our ordinary shares, no par value;
●“ADSs” or “American Depositary Shares” are to our American depositary shares, each representing one ordinary share;
●“Nasdaq” are to the Nasdaq Capital Market;
●“Italy” are to the Republic of Italy, “E.U.” are to the European Union, and “U.S.” are to the United States of America;
●“$,” “USD,” “dollars,” “USD$” or “U.S. dollars” are to the legal currency of the U.S.; and
●“€,” “EURO,” or “Euros” are to the legal currency of the E.U.

Solely for the convenience of the reader, this Annual Report contains translations of certain U.S. dollar amounts into Euros at specified rates. Except as otherwise stated in this Annual Report, all foreign currency transactions are translated into Euros through a specific application embedded in our accounting system, which is powered by the official exchange rates provided by HSBC (Hongkong and Shanghai Banking Corporation) in the City of London, United Kingdom. Specifically, the Consolidated Balance Sheet balances resulting from our financial statement as of December 31, 2025, are translated at the spot exchange rate as of December 31, 2025, that is $1.00 per €0.8518, while the Consolidated Statements of Operations and Comprehensive Loss balances are translated at the weighted average exchange rate of non-Euro currency transactions during the reporting period. No representation is made that such U.S. dollar amounts referred to in this Annual Report could have been or could be converted into Euros at such rates or any other rates. Any discrepancies in any table between totals and sums of the amounts listed are due to rounding.

The audited consolidated financial statements and notes thereto as of and for fiscal 2025, 2024, and 2023 included elsewhere in this Annual Report have been prepared in accordance with U.S. generally accepted accounting principles (“US GAAP”). Our fiscal semi-annual year-end is June 30 th, and our fiscal year-end is December 31 st.

FORWARD-LOOKING STATEMENTS

This Annual Report contains many statements that are “forward-looking” and uses forward-looking terminology such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “future,” “intend,” “may,” “ought to,” “plan,” “possible,” “potentially,” “predicts,” “project,” “should,” “will,” “would,” negatives of such terms or other similar statements. You should not place undue reliance on any forward-looking statement due to its inherent risk and uncertainties, both general and specific. Although we believe the assumptions on which the forward-looking statements are based are reasonable and within the bounds of our knowledge of our business and operations as of the date of this Annual Report, any or all of those assumptions could prove to be inaccurate. As a result, the forward-looking statements based on those assumptions could also be incorrect. The forward-looking statements in this Annual Report include, without limitation, statements relating to:

●our goals and strategies;
●our future business development, results of operations and financial condition;
●our ability to protect our intellectual property rights;
●projected revenues, profits, earnings and other estimated financial information;
●our ability to maintain strong relationships with our customers and suppliers;
●our planned use of proceeds; and
●governmental policies regarding our industry.

The forward-looking statements included in this Annual Report are subject to known and unknown risks, uncertainties and assumptions about our business and business environment. These statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual results of our operations may differ materially from information contained in the forward-looking statements as a result of risk factors, some of which are described under the headings “Risk Factors”, “Operating and Financial Review and Prospects,” “Information on our Company” and elsewhere in this Annual Report.

These risks and uncertainties are not exhaustive. Other sections of this Annual Report include additional factors which could adversely impact our business and financial performance. The forward-looking statements contained in this Annual Report speak only as of the date of this Annual Report or, if obtained from third-party studies or reports, the date of the corresponding study or report, and are expressly qualified in their entirety by the cautionary statements in this Annual Report. Since we operate in an emerging and evolving environment and new risk factors and uncertainties emerge from time to time, you should not rely upon forward-looking statements as predictions of future events. Except as otherwise required by the securities laws of the U.S., the E.U. and Italy, we undertake no obligation to update or revise any forward-looking statements to reflect events or circumstances after the date of this Annual Report or to reflect the occurrence of unanticipated events.

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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.