Exhibit
No.
|
Description
|
|
Unaudited Interim Consolidated Financial Statements as of September 30, 2018 and 2017, and for the nine and three months ended September
30, 2018 and 2017, and Notes to the Interim Consolidated Financial Statements.
|
GAMIDA CELL LTD.
|
||
February 8, 2019
|
By:
|
/s/ Shai Lankry
|
Shai Lankry
|
||
Chief Financial Officer
|
Page
|
|
Interim Consolidated Statements of Financial Position
|
1 - 2
|
Interim Consolidated Statements of Comprehensive Loss
|
3 |
Interim Consolidated Statements of Changes in Equity
|
4 – 6
|
Interim Consolidated Statements of Cash Flows
|
7 – 8
|
Notes to Interim Consolidated Financial Statements
|
9 - 14
|
GAMIDA CELL LTD. AND ITS SUBSIDIARY
|
INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
|
U.S. dollars in thousands
|
September 30,
|
December 31,
|
|||||||||||
2018
|
2017
|
2017
|
||||||||||
Unaudited
|
Audited
|
|||||||||||
ASSETS
|
||||||||||||
CURRENT ASSETS:
|
||||||||||||
Cash and cash equivalents
|
$
|
14,109
|
$
|
44,654
|
$
|
21,325
|
||||||
Available-for-sale financial assets
|
9,570
|
-
|
14,758
|
|||||||||
Short-term deposits
|
-
|
-
|
5,000
|
|||||||||
Restricted deposits
|
150
|
-
|
-
|
|||||||||
Prepaid expenses and other current assets
|
868
|
2,440
|
2,539
|
|||||||||
Total current
assets
|
24,697
|
47,094
|
43,622
|
|||||||||
NON-CURRENT ASSETS:
|
||||||||||||
Property and equipment, net
|
1,743
|
829
|
940
|
|||||||||
Other assets
|
354
|
44
|
360
|
|||||||||
Deferred issuance cost
|
1,718
|
-
|
-
|
|||||||||
Total
non-current assets
|
3,815
|
873
|
1,300
|
|||||||||
Total assets
|
$
|
28,512
|
$
|
47,967
|
$
|
44,922
|
GAMIDA CELL LTD. AND ITS SUBSIDIARY
|
INTERIM
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
|
U.S. dollars in thousands (except share and per share data)
|
September 30,
|
December 31,
|
|||||||||||
2018
|
2017
|
2017
|
||||||||||
Unaudited
|
Audited
|
|||||||||||
LIABILITIES AND EQUITY
|
||||||||||||
CURRENT LIABILITIES:
|
||||||||||||
Trade payables
|
$
|
3,060
|
$
|
1,488
|
$
|
2,390
|
||||||
Accrued expenses and other payables
|
4,239
|
725
|
2,186
|
|||||||||
Total current
liabilities
|
7,299
|
2,213
|
4,576
|
|||||||||
NON-CURRENT LIABILITIES:
|
||||||||||||
Liabilities presented at fair value
|
15,400
|
10,700
|
10,300
|
|||||||||
Employee benefit liabilities, net
|
194
|
149
|
200
|
|||||||||
Liability to Israel Innovation Authority (IIA)
|
10,474
|
6,539
|
6,890
|
|||||||||
Total non-current
liabilities
|
26,068
|
17,388
|
17,390
|
|||||||||
SHAREHOLDERS' EQUITY:
|
||||||||||||
Share capital -
|
||||||||||||
Ordinary shares of NIS 0.01 par value - Authorized: 23,277,000 shares at September 30, 2018 and
December 31, 2017 and 18,400,073 shares at September 30, 2017; Issued and outstanding: 699,590 shares at September 30, 2018 and 689,898 shares at September 30, 2017 and December 31, 2017
|
2
|
2
|
2
|
|||||||||
Preferred shares of NIS 0.01 par value - Authorized: 16,723,000 shares at September 30, 2018 and
December 31, 2017 and 12,418,837 shares at September 30, 2017; Issued and outstanding: 14,154,743 shares at September 30, 2018 and December 31, 2017 and 9,880,380 shares at September 30, 2017
|
38
|
38
|
38
|
|||||||||
Share premium
|
141,816
|
138,902
|
139,311
|
|||||||||
Capital reserve due to actuarial gains
|
(79
|
)
|
(44
|
)
|
(79
|
)
|
||||||
Available-for-sale reserve
|
(47
|
)
|
-
|
(34
|
)
|
|||||||
Accumulated deficit
|
(146,585
|
)
|
(110,532
|
)
|
(116,282
|
)
|
||||||
Total
shareholders' equity (deficit)
|
(4,855
|
)
|
28,366
|
22,956
|
||||||||
Total
liabilities and shareholders' equity
|
$
|
28,512
|
$
|
47,967
|
$
|
44,922
|
GAMIDA CELL LTD. AND ITS SUBSIDIARY
|
INTERIM CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
|
U.S. dollars in thousands (except share and per share data)
|
Nine months ended
September 30,
|
Three months ended
September 30,
|
Year ended
December 31,
|
||||||||||||||||||
2018
|
2017
|
2018
|
2017
|
2017
|
||||||||||||||||
Unaudited
|
Audited
|
|||||||||||||||||||
Operating expenses:
|
||||||||||||||||||||
Research and development, net
|
$
|
17,169
|
$ | 10,715 |
$
|
5,132
|
$
|
3,374
|
$
|
15,018
|
||||||||||
General and administrative
|
7,008
|
2,753
|
2,438
|
980
|
4,472
|
|||||||||||||||
Operating loss
|
24,177
|
13,468
|
7,570
|
4,354
|
19,490
|
|||||||||||||||
Finance expenses
|
6,560
|
991
|
2,356
|
216
|
718
|
|||||||||||||||
Finance income
|
(434
|
)
|
(1,198
|
)
|
(104
|
)
|
(633
|
)
|
(1,197
|
)
|
||||||||||
Net loss
|
30,303
|
13,261
|
9,822
|
3,937
|
19,011
|
|||||||||||||||
Other comprehensive loss:
|
||||||||||||||||||||
Items that will be reclassified subsequently to profit or loss:
|
||||||||||||||||||||
Actuarial net loss of defined benefit plans
|
-
|
-
|
-
|
-
|
35
|
|||||||||||||||
Changes in the fair value of available for sale financial assets
|
13
|
-
|
(122
|
)
|
-
|
34
|
||||||||||||||
Total comprehensive loss
|
$
|
30,316
|
$
|
13,261
|
$
|
9,700
|
$
|
3,937
|
$
|
19,080
|
||||||||||
Net loss per share:
|
||||||||||||||||||||
Basic and diluted net loss per share
|
$
|
43.92
|
$
|
19.22
|
$
|
14.23
|
$
|
5.71
|
$
|
27.56
|
||||||||||
Weighted average number of ordinary shares used in computing basic and diluted net loss per share
|
690,005
|
689,898
|
690,214
|
689,898
|
689,898
|
GAMIDA CELL LTD. AND ITS SUBSIDIARY
|
INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (DEFICIT)
|
U.S. dollars in thousands (except share and per share data)
|
Ordinary shares
|
Preferred shares
|
Share
|
Available-
for-sale
|
Capital reserve
due to actuarial
|
Accumulated
|
Total
|
||||||||||||||||||||||||||||||
Number
|
Amount
|
Number
|
Amount
|
premium
|
reserve
|
losses
|
deficit
|
Equity
|
||||||||||||||||||||||||||||
Balance as of January 1, 2018
|
689,898
|
$
|
2
|
14,154,743
|
$
|
38
|
$
|
139,311
|
$
|
(34
|
)
|
$
|
(79
|
)
|
$
|
(116,282
|
)
|
$
|
22,956
|
|||||||||||||||||
Net loss
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(30,303
|
)
|
(30,303
|
)
|
|||||||||||||||||||||||||
Other comprehensive loss
|
-
|
-
|
-
|
-
|
-
|
(13
|
)
|
-
|
-
|
(13
|
)
|
|||||||||||||||||||||||||
Total comprehensive loss
|
-
|
-
|
-
|
-
|
-
|
(13
|
)
|
-
|
(30,303
|
)
|
(30,316
|
)
|
||||||||||||||||||||||||
Exercise of options
|
9,692
|
*
|
)
|
-
|
-
|
2
|
-
|
-
|
-
|
2
|
||||||||||||||||||||||||||
Share-based compensation
|
-
|
-
|
-
|
-
|
2,503
|
-
|
-
|
-
|
2,503
|
|||||||||||||||||||||||||||
Balance as of September 30, 2018 (unaudited)
|
699,590
|
$
|
2
|
14,154,743
|
$
|
38
|
$
|
141,816
|
$
|
(47
|
)
|
$
|
(79
|
)
|
$
|
(146,585
|
)
|
$
|
(4,855
|
)
|
Ordinary shares
|
Preferred shares
|
Share
|
Capital
reserve due
to actuarial
|
Accumulated
|
Total
|
|||||||||||||||||||||||||||
Number
|
Amount
|
Number
|
Amount
|
premium
|
Losses
|
deficit
|
Equity
|
|||||||||||||||||||||||||
Balance as of January 1, 2017
|
689,898
|
$
|
2
|
9,880,380
|
$
|
26
|
$
|
108,250
|
$
|
(44
|
)
|
$
|
(97,271
|
)
|
$
|
10,963
|
||||||||||||||||
Net loss
|
-
|
-
|
-
|
-
|
-
|
-
|
(13,261
|
)
|
(13,261
|
)
|
||||||||||||||||||||||
Total comprehensive loss
|
-
|
-
|
-
|
-
|
-
|
-
|
(13,261
|
)
|
(13,261
|
)
|
||||||||||||||||||||||
Issuance of series F-1 Preferred shares, net of issuance costs
|
-
|
-
|
4,274,363
|
$
|
12
|
$
|
28,853
|
-
|
-
|
28,865
|
||||||||||||||||||||||
Share-based compensation
|
-
|
-
|
-
|
-
|
1,799
|
-
|
-
|
1,799
|
||||||||||||||||||||||||
Balance as of September 30, 2017 (unaudited)
|
689,898
|
$
|
2
|
14,154,743
|
$
|
38
|
$
|
138,902
|
$
|
(44
|
)
|
$
|
(110,532
|
)
|
$
|
28,366
|
GAMIDA CELL LTD. AND ITS SUBSIDIARY
|
INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
|
U.S. dollars in thousands (except share and per share data)
|
Ordinary shares
|
Preferred shares
|
Share
|
Available-
for-sale
|
Capital
reserve due
to actuarial
|
Accumulated
|
Total
|
||||||||||||||||||||||||||||||
Number
|
Amount
|
Number
|
Amount
|
premium
|
reserve
|
losses
|
deficit
|
Equity
|
||||||||||||||||||||||||||||
Balance as of July 1, 2018 (unaudited)
|
689,898
|
$
|
2
|
14,154,743
|
$
|
38
|
$
|
140,934
|
$
|
(169
|
)
|
$
|
(79
|
)
|
$
|
(136,763
|
)
|
$
|
3,963
|
|||||||||||||||||
Net loss
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(9,822
|
)
|
(9,822
|
)
|
|||||||||||||||||||||||||
Other comprehensive loss
|
-
|
-
|
-
|
-
|
-
|
122
|
-
|
-
|
122
|
|||||||||||||||||||||||||||
Total comprehensive loss
|
-
|
-
|
-
|
-
|
-
|
122
|
-
|
(9,822
|
)
|
(9,700
|
)
|
|||||||||||||||||||||||||
Exercise options
|
9,692
|
*
|
)
|
-
|
-
|
2
|
-
|
-
|
-
|
2
|
||||||||||||||||||||||||||
Share-based compensation
|
-
|
-
|
-
|
-
|
880
|
-
|
-
|
-
|
880
|
|||||||||||||||||||||||||||
Balance as of September 30, 2018 (unaudited)
|
699,590
|
$
|
2
|
14,154,743
|
$
|
38
|
$
|
141,816
|
$
|
(47
|
)
|
$
|
(79
|
)
|
$
|
(146,585
|
)
|
$
|
(4,855
|
)
|
Ordinary shares
|
Preferred shares
|
Share
|
Capital
reserve due
to actuarial
|
Accumulated
|
Total
|
|||||||||||||||||||||||||||
Number
|
Amount
|
Number
|
Amount
|
premium
|
losses
|
deficit
|
Equity
|
|||||||||||||||||||||||||
Balance as of July 1, 2017
|
689,898
|
$
|
2
|
9,880,380
|
$
|
26
|
$
|
109,949
|
$
|
(44
|
)
|
$
|
(106,595
|
)
|
$
|
3,338
|
||||||||||||||||
Net loss
|
-
|
-
|
-
|
-
|
-
|
-
|
(3,937
|
)
|
(3,937
|
)
|
||||||||||||||||||||||
Total comprehensive loss
|
-
|
-
|
-
|
-
|
-
|
-
|
(3,937
|
)
|
(3,937
|
)
|
||||||||||||||||||||||
Issuance of series F-1 Preferred shares, net of issuance costs
|
-
|
-
|
4,274,363
|
$
|
12
|
$
|
28,853
|
-
|
-
|
28,865
|
||||||||||||||||||||||
Share-based compensation
|
-
|
-
|
-
|
-
|
100
|
-
|
-
|
100
|
||||||||||||||||||||||||
Balance as of September 30, 2017 (unaudited)
|
689,898
|
$
|
2
|
14,154,743
|
$
|
38
|
$
|
138,902
|
$
|
(44
|
)
|
$
|
(110,532
|
)
|
$
|
28,366
|
GAMIDA CELL LTD. AND ITS SUBSIDIARY
|
INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
|
U.S. dollars in thousands (except share and per share data)
|
Ordinary shares
|
Preferred shares
|
Share
|
Available-
for-sale
|
Capital
reserve due
to actuarial
|
Accumulated
|
Total
|
||||||||||||||||||||||||||||||
Number
|
Amount
|
Number
|
Amount
|
premium
|
reserve
|
losses
|
deficit
|
Equity
|
||||||||||||||||||||||||||||
Balance as of January 1, 2017
|
689,898
|
$
|
2
|
9,880,380
|
$
|
26
|
$
|
108,250
|
$
|
-
|
$
|
(44
|
)
|
$
|
(97,271
|
)
|
$
|
10,963
|
||||||||||||||||||
Net loss
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(19,011
|
)
|
(19,011
|
)
|
|||||||||||||||||||||||||
Other comprehensive loss
|
-
|
-
|
-
|
-
|
-
|
(34
|
)
|
(35
|
)
|
-
|
(69
|
)
|
||||||||||||||||||||||||
Total comprehensive loss
|
-
|
-
|
-
|
-
|
-
|
(34
|
)
|
(35
|
)
|
(19,011
|
)
|
(19,080
|
)
|
|||||||||||||||||||||||
Issuance of series F-1 Preferred shares, net of issuance costs
|
-
|
-
|
4,274,363
|
12
|
28,853
|
-
|
-
|
-
|
28,865
|
|||||||||||||||||||||||||||
Share-based compensation
|
-
|
-
|
-
|
-
|
2,208
|
-
|
-
|
-
|
2,208
|
|||||||||||||||||||||||||||
Balance as of December 31, 2017 (Audited)
|
689,898
|
$
|
2
|
14,154,743
|
$
|
38
|
$
|
139,311
|
$
|
(34
|
)
|
$
|
(79
|
)
|
$
|
(116,282
|
)
|
$
|
22,956
|
GAMIDA CELL LTD. AND ITS SUBSIDIARY
|
INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS
|
U.S. dollars in thousands
|
Nine months ended
September 30,
|
Three months ended
September 30,
|
Year ended
December 31,
|
||||||||||||||||||
2018
|
2017
|
2018
|
2017
|
2017
|
||||||||||||||||
Unaudited
|
Audited
|
|||||||||||||||||||
Cash flows from operating
activities:
|
||||||||||||||||||||
Net loss
|
$
|
(30,303
|
)
|
$
|
(13,261
|
)
|
$
|
(9,822
|
)
|
$
|
(3,937
|
)
|
$
|
(19,011
|
)
|
|||||
Adjustments to reconcile net loss to net cash used in operating activities:
|
||||||||||||||||||||
Adjustments to the profit or loss items:
|
||||||||||||||||||||
Depreciation
|
146
|
112
|
49
|
44
|
162
|
|||||||||||||||
Financial (income) expenses, net
|
(161
|
)
|
-
|
214
|
-
|
(330
|
)
|
|||||||||||||
Cost of share-based compensation
|
2,503
|
1,799
|
880
|
100
|
2,208
|
|||||||||||||||
Change in employee benefit liabilities, net
|
(6
|
)
|
10
|
(23
|
)
|
(1
|
)
|
26
|
||||||||||||
Amortization of premium on available-for-sale financial assets
|
191
|
-
|
200
|
-
|
28
|
|||||||||||||||
Revaluation of financial derivatives
|
5,100
|
(661
|
)
|
1,700
|
(200
|
)
|
(1,061
|
)
|
||||||||||||
Revaluation of liability to IIA
|
3,167
|
821
|
567
|
(167
|
)
|
(580
|
)
|
|||||||||||||
10,940
|
2,081
|
3,587
|
(224
|
)
|
453
|
|||||||||||||||
Changes in asset and liability items:
|
||||||||||||||||||||
Increase in prepaid expenses and other current assets and other assets
|
(1,266
|
)
|
(2,148
|
)
|
(1,637
|
)
|
(621
|
)
|
(2,210
|
)
|
||||||||||
Increase in trade payables
|
670
|
562
|
1,902
|
462
|
1,464
|
|||||||||||||||
Increase (decrease) in accrued expenses and other payables
|
1,071
|
(247
|
)
|
(8
|
)
|
(601
|
)
|
1,214
|
||||||||||||
475
|
(1,833
|
)
|
257
|
(760
|
)
|
468
|
||||||||||||||
Cash received during the period for:
|
||||||||||||||||||||
Interest received
|
570
|
84
|
179
|
40
|
330
|
|||||||||||||||
Net cash used in operating activities
|
(18,318
|
)
|
(12,929
|
)
|
(5,799
|
)
|
(4,881
|
)
|
(17,760
|
)
|
||||||||||
Cash flows from investing
activities:
|
||||||||||||||||||||
Purchase of property and equipment
|
(949
|
)
|
(241
|
)
|
(246
|
)
|
(33
|
)
|
(402
|
)
|
||||||||||
Purchase of of available-for-sale financial assets
|
-
|
-
|
-
|
-
|
(14,820
|
)
|
||||||||||||||
Proceed from sale of available-for-sale financial assets
|
4,984
|
-
|
-
|
-
|
-
|
|||||||||||||||
Proceeds from bank deposits
|
5,000
|
-
|
-
|
-
|
(5,000
|
)
|
||||||||||||||
Investment in restricted bank deposits
|
(150
|
)
|
-
|
(150
|
)
|
-
|
-
|
|||||||||||||
Net cash provided by (used in) investing activities
|
8,885
|
(241
|
)
|
(396
|
)
|
(33
|
)
|
(20,222
|
)
|
GAMIDA CELL LTD. AND ITS SUBSIDIARY
|
INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS
|
U.S. dollars in thousands
|
Nine months ended
September 30,
|
Three months ended
September 30,
|
Year ended
December 31,
|
||||||||||||||||||
2018
|
2017
|
2018
|
2017
|
2017
|
||||||||||||||||
Unaudited
|
Audited
|
|||||||||||||||||||
Cash flows from financing
activities:
|
||||||||||||||||||||
Receipt of grants from the IIA
|
2,953
|
-
|
1,300
|
-
|
1,483
|
|||||||||||||||
Proceeds from issuance of financial derivatives
|
-
|
10,900
|
-
|
10,900
|
10,900
|
|||||||||||||||
Increase in deferred issuance cost
|
(736
|
)
|
-
|
-
|
-
|
-
|
||||||||||||||
Proceeds from issuance of shares, net
|
-
|
28,865
|
-
|
28,865
|
28,865
|
|||||||||||||||
Net cash provided by financing activities
|
2,217
|
39,765
|
1,300
|
39,765
|
41,248
|
|||||||||||||||
(Decrease) increase in cash and cash equivalents
|
(7,216
|
)
|
26,595
|
(4,895
|
)
|
34,851
|
3,266
|
|||||||||||||
Cash and cash equivalents at beginning of period
|
21,325
|
18,059
|
19,004
|
9,803
|
18,059
|
|||||||||||||||
Cash and cash equivalents at end of period
|
$
|
14,109
|
$
|
44,654
|
$
|
14,109
|
$
|
44,654
|
$
|
21,325
|
||||||||||
Supplemental disclosure
of non-cash financing activities:
|
||||||||||||||||||||
Significant non-cash
transactions:
|
||||||||||||||||||||
IIA liability for grants to be received
|
$
|
418
|
$
|
-
|
$
|
154
|
$
|
-
|
$
|
269
|
||||||||||
Increase in deferred issuance cost
|
$
|
982
|
$
|
-
|
$
|
191
|
$
|
-
|
$
|
-
|
||||||||||
Exercise of options
|
$
|
2
|
$
|
-
|
$
|
2
|
$
|
-
|
$
|
-
|
GAMIDA CELL LTD. AND ITS SUBSIDIARY
|
NOTES TO INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|
U.S. dollars in thousands (except share and per share data)
|
NOTE 1:- |
GENERAL
|
a. |
Gamida Cell Ltd. (the "Company"), founded in 1998, is a clinical-stage biopharmaceutical company that develops novel curative treatments for orphan indications, including
hematologicalmalignancies and rare genetic diseases using stem cells and Natural Killer (NK) cells.
|
b. |
On October 30, 2018, subsequent to the reporting date, the Company closed an Initial Public Offering (“IPO”) of its ordinary shares on the Nasdaq, under the symbol “GMDA”
which resulted in the sale of 6,250,000 ordinary shares at a public offering price of $8 per share, before underwriting discounts. The underwriters have a 30-day option to purchase up to 937,500 additional shares at a public offering
price of $8 per share. The Company received net proceeds from the IPO of approximately $44,200 (net of issuance costs and underwriting discounts of approximately $5,800). Upon the closing of the IPO, all of the Company’s outstanding
preferred shares automatically converted into 17,283,006 ordinary shares.
|
c. |
The Company uses its proprietary platform NAM technology to expand in culture, highly functional cells derived from umbilical cord blood or peripheral blood, while
enhancing the potential therapeutic efficacy of these cells.
|
GAMIDA CELL LTD. AND ITS SUBSIDIARY
|
NOTES TO INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|
U.S. dollars in thousands (except share and per share data)
|
NOTE 1:- |
GENERAL (Cont.)
|
d. |
The Company is devoting substantially all of its efforts toward research and development activities. In the course of such activities, the Company has sustained operating
losses and expects such losses to continue in the foreseeable future. The Company's accumulated deficit as of September 30, 2018 is $146,585 and negative cash flows from operating activities during the period is $18,318. The Company
requires additional financing in order to continue to fund its current operations and pay existing and future liabilities.
|
e.
|
Definitions:
|
The Company
|
-
|
Gamida Cell Ltd. and its subsidiary
|
Subsidiary
|
|
Gamida Cell Inc. Incorporated in 2000 and intended to focus on sales and marketing upon product approval.
|
Related Parties
|
-
|
As defined in IAS 24
|
Dollar
|
- |
U.S. dollar
|
NOTE 2:- |
SIGNIFICANT ACCOUNTING POLICIES
|
GAMIDA CELL LTD. AND ITS SUBSIDIARY
|
NOTES TO INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|
U.S. dollars in thousands (except share and per share data)
|
NOTE 2:- |
SIGNIFICANT ACCOUNTING POLICIES (Cont.)
|
- |
the asset is held within a business model whose objective is to hold assets in order to collect the contractual cash flows; and
|
- |
the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount
outstanding.
|
GAMIDA CELL LTD. AND ITS SUBSIDIARY
|
NOTES TO INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|
U.S. dollars in thousands (except share and per share data)
|
NOTE 3:- |
SHARE-BASED PAYMENT
|
a. |
The total compensation cost related to all of the Company's equity-based awards, recognized during the presented periods was comprised as follows:
|
Nine months ended
September 30,
|
Three months ended
September 30,
|
Year ended
December 31,
|
||||||||||||||||||
2018
|
2017
|
2018
|
2017
|
2017
|
||||||||||||||||
Unaudited
|
Audited
|
|||||||||||||||||||
Research and development
|
$
|
799
|
$
|
1,143
|
$
|
172
|
$
|
94
|
$
|
1,362
|
||||||||||
General and administrative
|
1,704
|
656
|
708
|
6
|
846
|
|||||||||||||||
$
|
2,503
|
$
|
1,799
|
$
|
880
|
$
|
100
|
$
|
2,208
|
Nine months ended
September 30,
|
December 31,
|
|||||||||||
2018
|
2017
|
2017
|
||||||||||
Unaudited
|
Audited
|
|||||||||||
Dividend yield (%)
|
0
|
0
|
0
|
|||||||||
Expected volatility of the share prices (%)
|
88%-94
|
%
|
90
|
%
|
89%-94
|
%
|
||||||
Risk-free interest rate (%)
|
2.17-2.89
|
0.79-2.03
|
0.79-2.4
|
GAMIDA CELL LTD. AND ITS SUBSIDIARY
|
NOTES TO INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|
U.S. dollars in thousands (except share and per share data)
|
NOTE 3:- |
SHARE-BASED PAYMENT (cont.)
|
Nine months ended
September 30,
|
Year ended
December 31,
|
|||||||||||||||||||||||
2018
|
2017
|
2017
|
||||||||||||||||||||||
Number of
options
|
Weighted
average
exercise
price
|
Number of
options
|
Weighted
average
exercise
price
|
Number of
options
|
Weighted
average
exercise
price
|
|||||||||||||||||||
USD
|
USD
|
USD
|
||||||||||||||||||||||
Outstanding at beginning of period
|
2,467,018
|
2.28
|
1,129,003
|
0.25
|
1,129,003
|
0.25
|
||||||||||||||||||
Granted during the period
|
686,977
|
5.32
|
314,867
|
2.57
|
1,338,015
|
3.99
|
||||||||||||||||||
Exercised during the period
|
(9,692
|
)
|
0.25
|
-
|
-
|
-
|
-
|
|||||||||||||||||
Forfeited during the period
|
(9,692
|
)
|
0.25
|
-
|
-
|
-
|
-
|
|||||||||||||||||
Share options outstanding at end of period
|
3,134,611
|
2.96
|
1,443,870
|
0.76
|
2,467,018
|
2.28
|
||||||||||||||||||
Share options exercisable at end of period
|
1,674,545
|
1.13
|
1,352,075
|
0.70
|
1,379,075
|
0.60
|
NOTE 4:- |
LIABILITIES PRESENTED AT FAIR VALUE
|
a. |
Warrants to purchase Preferred F-2 shares:
|
Nine months ended
September 30,
|
December 31,
|
|||||||||||
2018
|
2017
|
2017
|
||||||||||
Unaudited
|
Audited
|
|||||||||||
Risk-free interest rate
|
2.5
|
%
|
1.5
|
%
|
1.5
|
%
|
||||||
Expected volatility
|
90
|
%
|
90
|
%
|
90
|
%
|
||||||
Expected life (in years)
|
2
|
5
|
5
|
|||||||||
Expected dividend yield
|
0
|
0
|
0
|
GAMIDA CELL LTD. AND ITS SUBSIDIARY
|
NOTES TO INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|
U.S. dollars in thousands (except share and per share data)
|
NOTE 4:- |
LIABILITIES PRESENTED AT FAIR VALUE (Cont.)
|
b. |
Changes in the fair value of warrants classified as Level 3 in the fair value hierarchy:
|
Fair value of
financial
derivatives
|
||||
Balance at December 31, 2017
|
$
|
10,300
|
||
Revaluation of financial derivatives
|
5,100
|
|||
Balance at September 30, 2018
|
$
|
15,400
|