NeuroSense Therapeutics Ltd., a clinical-stage biotechnology company, has transitioned its accounting standards from International Financial Reporting Standards (IFRS) to U.S. Generally Accepted Accounting Principles (U.S. GAAP) as of January 1, 2024. This change was announced on June 17, 2024, and the company has re-issued its consolidated financial statements for the year ended December 31, 2023, under U.S. GAAP. These updated financial statements replace those included in the company's Annual Report on Form 20-F filed on April 4, 2024. NeuroSense Therapeutics, which focuses on developing treatments for neurodegenerative diseases, has not generated revenue to date and anticipates continued significant expenses and operating losses. The company reported net losses of $10.1 million for 2023 and $10.5 million for 2022, with an accumulated deficit of $26.1 million as of December...Show More

NeuroSense Therapeutics Ltd., a clinical-stage biotechnology company, has transitioned its accounting standards from International Financial Reporting Standards (IFRS) to U.S. Generally Accepted Accounting Principles (U.S. GAAP) as of January 1, 2024. This change was announced on June 17, 2024, and the company has re-issued its consolidated financial statements for the year ended December 31, 2023, under U.S. GAAP. These updated financial statements replace those included in the company's Annual Report on Form 20-F filed on April 4, 2024. NeuroSense Therapeutics, which focuses on developing treatments for neurodegenerative diseases, has not generated revenue to date and anticipates continued significant expenses and operating losses. The company reported net losses of $10.1 million for 2023 and $10.5 million for 2022, with an accumulated deficit of $26.1 million as of December 31, 2023. The company's future funding requirements will be influenced by various factors, including the progress of clinical trials for its lead product candidate, PrimeC. NeuroSense Therapeutics has financed its operations through public and private offerings of equity securities, proceeds from the exercise of warrants and options, and crowdfunding. As of December 31, 2023, the company had cash and cash equivalents of $2.6 million, which is not expected to be sufficient to fund operations for the next 12 months.