SPONSORED BY LFG EQUITIES AND DISSEMINATED ON BEHALF OF NLS PHARMACEUTICS AG.*

Good Morning Market Enthusiast,

Most small-cap biotechs ask for patience... This one gives you a date. On October 30, NLSP completes its merger and becomes NewCelX Ltd. (Nasdaq:NCEL); on October 31, NCEL shows up on Nasdaq screens. Windows like this don’t stay open long—when timing, structure, and execution line up, the narrative can explode fast. 👀

Most small-cap biotechs ask for patience... This one gives you a date. On October 30, NLSP completes its merger and becomes NewCelX Ltd. (Nasdaq:NCEL); on October 31, NCEL shows up on Nasdaq screens. Windows like this don’t stay open long—when timing, structure, and execution line up, the narrative can explode fast. 👀

🚨 Morning Update: (1)(9)

Premarket activity is heating up. NLS Pharmaceutics (NLSP) is trending higher this morning with solid volume and growing attention ahead of the merger close. And this momentum isn’t without reason—just hours ago, NLSP and Aexon Labs announced the expansion of their DOXA platform with the AEX-6xx series, a next-generation small-molecule lineup targeting cognition, arousal stability, and neuroprotection.

The newly revealed AEX-635 compound demonstrated promising behavioral and cellular data, potentially enhancing neuroprotective effects through MRP1 modulation—a breakthrough angle in Parkinson’s and other neurodegenerative diseases. Backed by $7M in recent financing and a $25M equity line of credit, the company enters the merger well-capitalized, well-positioned, and carrying fresh momentum.

With the new NewCelX (Nasdaq: NCEL) ticker set to appear on screens tomorrow, the setup now has both timing and science firing in sync. Price, volume, and catalysts are converging—this is exactly how breakout rotations begin. 👀

What’s happening isn’t a rescue arc—it’s a strategic upgrade designed to change the story on day one. NLS Pharmaceutics brings its Aexon small-molecule platform, focused on orexin receptor science in CNS; Kadimastem adds an advanced cell-therapy engine in ALS and diabetes. Together they form a dual-platform built for scale with multiple ways to win. (4)(7)(8)

This isn’t breadth for breadth’s sake. It’s optionality with intent: a portfolio that can advance along several billion-dollar paths while sharing manufacturing, clinical know-how, and a clean, debt-free structure. Add 100+ patents, manufacturing already lined up, and leadership that’s shipped at global scale, and you’ve got something rare in small caps—a platform with near-term catalysts rather than a single bet. 

So when the ticker flips to NCEL this week, you’re not watching a company hope for a catalyst—you’re watching a calendar-dated transition into a cleaner, faster, more credible operating model. That’s the setup the market rewards. And it’s exactly the kind that doesn’t stay quiet for long. (4)(5)(6)(7)(8)

💡 Why Now: The Biotech Window Is Open (And Won't Stay Open Forever)
(4)(5)(6)(7)(8)

After two years of cautious sentiment and capital flight from early-stage biotech, something is shifting. The market is rotating back — but only into companies that have actually earned it.

What changed? Three things:

First, catalysts are hitting the tape again. After a drought of clinical readouts and regulatory approvals, biotech companies are moving programs forward. The noise has cleared, and real validation is happening.

Second, markets are done with speculative stories. They want IP-protected science, validated assets, clean balance sheets, and leadership teams that have shipped products before. Mergers work when they combine complementary technologies and de-risk the path to clinical or commercial validation — and that's exactly what's happening here.

Third, capital is looking for optionality. Single-asset biotech companies are out of favor. The market wants platforms with multiple shots on goal, diversified revenue streams, and the ability to weather setbacks in any one program. NewCelX is built on exactly this principle.

And here's the thing: this window closes fast. Once NewCelX proves its execution on even one clinical milestone, the narrative shifts and valuation floors rise. Early visibility on this story is genuinely valuable.

🧩 What NewCelX Actually Becomes: A Platform Built for Scale (4)(5)(6)(7)(8)

Once the merger closes October 30, NLS and Kadimastem shareholders will unite under a single, streamlined platform engineered for scale and capital efficiency. But here's what makes this different from typical small-cap mergers — the two companies aren't just combining for scale; they're combining because their science works better together.

A diversified pipeline spanning multiple billion-dollar markets:
 

• AstroRx® — Phase 2a clinical trial in the U.S. for ALS (Amyotrophic Lateral Sclerosis), one of the most devastating neurodegenerative diseases with limited treatment options. The ALS market is estimated at $1B+ annually, and there's genuine clinical unmet need. This program has already begun enrollment in the U.S., meaning NewCelX enters day one with active trials.
• IsletRx — A stem-cell derived therapy for insulin-dependent diabetes, co-developed with iTolerance Inc. and backed by the BIRD Foundation (Israel's Office of the Chief Scientist). Diabetes treatment is a multi-billion-dollar market with persistent gaps in current therapies. IsletRx is positioned to advance toward Phase 1 in the coming months.
• Aexon (AEX-2 / AEX-41) — Novel orexin receptor agonists advancing toward late-stage studies in CNS disorders like narcolepsy and neurodegeneration. These represent the next-generation precision-medicine programs designed to remain the sole small-molecule platform within NewCelX following the merger. The Aexon arm will anchor the small-molecule focus going forward.
   

If AstroRx® hits a clinical wall, IsletRx continues forward. If one market underperforms, the others are still scaling. Success in one arm strengthens the others operationally and financially. Capital flows efficiently between programs without relying on external fundraising for every milestone.

A fortress balance sheet built for execution: Before the merger, NLS made a deliberate move to strip out liability risk. The company converted all outstanding liabilities into equity, emerging completely debt-free. Separately, it secured $6M+ in new financing and locked in a $25M equity facility specifically to support merger integration and upcoming clinical milestones. Translation: no dilution fears clouding the narrative. The runway is real, the capital is secured, and the story stays clean.

Leadership with billion-dollar track records: Ronen Twito (Kadimastem CEO and Executive Chairman) and Professor Michel Revel (Chief Scientific Officer and Director) aren't first-time biotech operators. Professor Revel is the scientist behind Rebif®, the multiple sclerosis therapy that generated $2.4B in peak annual sales and delivered more than 1.5 million patient-years of treatment globally. Few early-stage biotechs can claim a leadership team with this level of scientific credibility and commercialization experience at the helm. This is the kind of team that knows how to navigate regulatory processes, run clinical trials at scale, and position a company for partnership or acquisition.

🔬 The Science: Why Dual-Platform Architecture Actually Works (4)(5)(6)(7)(8)

Here's the insight that makes this merger tick: cell therapy and small molecules solve different problems, but they strengthen each other when combined.

Cell therapy brings regenerative potential — the ability to restore or replace damaged tissue in diseases like ALS or diabetes. This is the frontier of regenerative medicine, and it's finally moving from theory to clinical validation.

Small molecules bring precision — the ability to modulate neurochemical pathways in CNS and addiction disorders. They're faster to develop, more scalable in manufacturing, and have decades of regulatory precedent.

Under one roof, they amplify each other. A portfolio with both arms reduces platform risk. Manufacturing expertise transfers between programs. Clinical insights from one pathway inform the other. And most importantly, the company can use early wins in one area to fund expansion in another.

NewCelX also maintains 100+ patents across 140+ countries, spanning CNS, ADHD, Parkinson's, cancer fatigue, and more. That's not accidental — it's a global IP footprint that signals a company thinking beyond short-term noise and positioning for international scale. Patent strength matters especially in biotech because it defines competitive moats and licensing opportunities.

And with Pluri Inc., a GMP-certified manufacturing partner, already onboard for both AstroRx® and IsletRx, the infrastructure for trial readiness and scale-up is already in place. This is crucial: many biotechs spend months or years building manufacturing partnerships after clinical validation. NewCelX is starting with manufacturing partnerships already locked in, which accelerates time-to-market and reduces execution risk.

⚙️ The Catalysts: Real Milestones, Real Timing, Real Execution (4)(5)(6)(7)(8)

October 30, 2025 — Merger closes. Final share exchange between NLS and Kadimastem shareholders. All regulatory approvals are locked in. This isn't speculative — Nasdaq clearance has been received.

October 31, 2025 — NewCelX (Nasdaq: NCEL) begins trading on Nasdaq under its new name. The old ticker (NLSP) disappears. The new narrative begins. By the first week of November, NewCelX is a publicly traded company with a fresh platform, clean structure, and a diversified pipeline.

November 2025 and beyond — Launch of key clinical programs, including the U.S. Phase 2a ALS trial for AstroRx® and continued preclinical work for IsletRx ahead of Phase 1. These aren't vague projections or soft milestones. These are execution steps happening in real-time. Each one tightens the narrative that this is a company built to deliver, not just talk.

This is the rare biotech moment where you can watch execution unfold in real-time, with specific dates and measurable milestones. Most small-cap biotech stories are murky — full of "we'll know more in 2026" language. This one isn't. The timeline is locked. The catalyst calendar is full. The next few days will start to define NewCelX's trajectory.

⏳ Why the Timing Matter is Essential (4)(5)(6)(7)(8)

This is the rare moment where a biotech doesn't just talk about potential — it's actually positioned to execute it. Clean governance. Credible science. Experienced leadership. Multi-pathway pipeline. Nasdaq visibility. Near-term clinical catalysts. Debt-free balance sheet. Manufacturing partnerships locked in.

Everything has been restructured for lift-off.

In a market that rewards clean structure and credible execution, NewCelX is entering a completely different category. The story isn't about a small biotech fighting for survival. It's about a company that's already done the hard work and is ready to scale.

And here's what matters: this is the moment before it matters. Once the first ALS trial data comes back positive, or IsletRx moves into Phase 1, the story becomes obvious to everyone. The valuation multiple expands. Institutional capital arrives. The early narrative advantage disappears.

Right now — in late October, before the ticker even changes — is when early visibility actually has value.

🧠 The Bottom Line

The transformation of NLSP into NewCelX (Nasdaq:NCEL) is one of those rare biotech alignments where timing, assets, and leadership converge into a single thesis: a dual-platform biotech with real near-term catalysts, experienced billion-dollar leaders, and a pipeline spanning multiple billion-dollar markets, all built on a clean balance sheet and locked-in infrastructure.

This doesn't happen often. And when it does, it gets noticed.

This week, it is official. 

The old ticker disappears. The new platform emerges. The catalyst calendar kicks into high gear.

Mark October 30. The story of NLS is about to become the story of NewCelX. The announcement goes public in days. The transformation is no longer coming — it's here. 👀

To your success,

Max Masters

Co-founder, Market Tips Newsletter

Sources:
1. https://nlspharma.com/news/nls-satellite-symposium/
2. https://finance.yahoo.com/quote/NLSP/
3. https://finance.yahoo.com/quote/NLSP/key-statistics/
4. https://nlspharma.com/
5. https://finance.yahoo.com/news/nls-pharmaceutics-kadimastem-announce-strategic-110000693.html
6. https://finance.yahoo.com/news/nls-pharmaceutics-highlights-continued-progress-110000400.html
7. https://finance.yahoo.com/news/nls-pharmaceutics-kadimastem-announce-hong-110000802.html
8. https://finance.yahoo.com/news/nls-pharmaceutics-present-data-dual-113000452.html
9. https://finance.yahoo.com/news/nls-pharmaceutics-expands-cns-pipeline-110000452.html

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