<SEC-DOCUMENT>0001178913-22-004030.txt : 20221114
<SEC-HEADER>0001178913-22-004030.hdr.sgml : 20221114
<ACCEPTANCE-DATETIME>20221114170235
ACCESSION NUMBER:		0001178913-22-004030
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20221114
FILED AS OF DATE:		20221114
DATE AS OF CHANGE:		20221114

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PAINREFORM LTD.
		CENTRAL INDEX KEY:			0001801834
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			L3
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39481
		FILM NUMBER:		221387274

	BUSINESS ADDRESS:	
		STREET 1:		65 YIGAL ALON ST.
		CITY:			TEL AVIV
		STATE:			L3
		ZIP:			6744316
		BUSINESS PHONE:		972-3-7177051

	MAIL ADDRESS:	
		STREET 1:		65 YIGAL ALON ST.
		CITY:			TEL AVIV
		STATE:			L3
		ZIP:			6744316
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>zk2228694.htm
<DESCRIPTION>6-K
<TEXT>
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      <div style="text-align: center; line-height: 1.25; font-weight: bold;">UNITED STATES</div>
      <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">Washington, D.C. 20549</div>
      <div style="text-align: center; line-height: 1.25;">&#160;</div>
      <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-size: 14pt; font-weight: bold;">Form 6-K</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">&#160;</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">Report of Foreign Private Issuer</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">&#160;</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">Pursuant to Rule 13a-16 or 15d-16</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">of the Securities Exchange Act of 1934</div>
      <div style="text-align: center; line-height: 1.25;">&#160;</div>
      <div style="text-align: center; line-height: 1.25;">For the month of November 2022</div>
      <div style="text-align: center; line-height: 1.25;">&#160;</div>
      <div style="text-align: center; line-height: 1.25;">Commission File Number: 001-39481</div>
      <div style="text-align: center; line-height: 1.25;">&#160;</div>
      <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-size: 16pt; font-weight: bold;">PainReform Ltd.</div>
      <div style="text-align: center; line-height: 1.25;">(Translation of registrant&#8217;s name into English)</div>
      <div style="text-align: center; line-height: 1.25;">&#160;</div>
      <div style="text-align: center; line-height: 1.25;">65 Yigal Alon St., Tel Aviv 6744316</div>
      <div style="text-align: center; line-height: 1.25;">Israel</div>
      <div style="text-align: center; line-height: 1.25;">(Address of principal executive offices)</div>
      <div style="text-align: center; line-height: 1.25;">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.</div>
      <div style="text-align: justify; line-height: 1.25;">&#160;</div>
      <div style="text-align: center; line-height: 1.25;">Form 20-F&#160; &#9746;&#160;&#160;&#160;&#160;&#160; Form 40-F&#160; &#9744;</div>
      <div style="text-align: center; line-height: 1.25;">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____</div>
      <div style="text-align: justify; line-height: 1.25;">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____</div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
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      <div style="text-align: justify; line-height: 1.25;">
        <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">
          <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">
            <div style="line-height: 1.25;">This Report on Form 6-K (including Exhibits 99.1 and 99.2) is incorporated by reference into the Company&#8217;s Registration Statement on Form S-8 (Registration No. 333-257968 and 333-265902) and Form F-3 (File No.
              333-259318), to be a part thereof from the date on which this report is submitted, to the extent not superseded by documents or reports subsequently filed or furnished.</div>
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      <div style="text-align: center; line-height: 1.25;">&#160;</div>
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        </div>
        <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">
          <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">On November 14, 2022, PainReform Ltd. (the "Company") published its unaudited condensed financial statements, as well as its operating and financial review as of
            September 30, 2022 and for the nine months then ended. Attached hereto are the following exhibits:</div>
        </div>
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            <td style="width: 4.86%; vertical-align: top; background-color: rgb(204, 238, 255); font-family: 'Times New Roman',Times,serif;">
              <div style="line-height: 1.25;">99.1</div>
            </td>
            <td style="width: 95.14%; vertical-align: top; background-color: rgb(204, 238, 255); font-family: 'Times New Roman',Times,serif;">
              <div style="line-height: 1.25;">Unaudited Condensed Financial Statements as of September 30, 2022</div>
            </td>
          </tr>
          <tr>
            <td style="width: 4.86%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 95.14%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
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          <tr>
            <td style="width: 4.86%; vertical-align: top; background-color: rgb(204, 238, 255); font-family: 'Times New Roman',Times,serif;">
              <div style="line-height: 1.25;">99.2</div>
            </td>
            <td style="width: 95.14%; vertical-align: top; background-color: rgb(204, 238, 255); font-family: 'Times New Roman',Times,serif;">
              <div style="line-height: 1.25;">Operating and Financial Review as of September 30, 2022 and for the nine months then ended</div>
            </td>
          </tr>

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      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;</div>
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      <div style="text-align: center; line-height: 1.25;">Exhibit Index</div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"> <br>
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              <div style="text-align: center; line-height: 1.25; font-weight: bold;">Exhibit&#160;No.</div>
            </td>
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              <div style="line-height: 1.25;">&#160;</div>
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              <div style="text-align: center; line-height: 1.25; font-weight: bold;">Description</div>
            </td>
          </tr>
          <tr>
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              <div style="text-align: center; line-height: 1.25;"><a href="exhibit_99-1.htm">99.1</a></div>
            </td>
            <td style="width: 1%; vertical-align: top; background-color: rgb(204, 238, 255); font-family: 'Times New Roman',Times,serif;"><a href="exhibit_99-1.htm"><br>
              </a> </td>
            <td style="width: 89%; vertical-align: top; background-color: rgb(204, 238, 255); font-family: 'Times New Roman',Times,serif;">
              <div style="text-align: justify; line-height: 1.25;"><a href="exhibit_99-1.htm">Unaudited Condensed Financial Statements as of September 30, 2022</a></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.46%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
              <div style="text-align: center; line-height: 1.25;"><a href="exhibit_99-2.htm">99.2</a></div>
            </td>
            <td style="width: 1%; vertical-align: top; font-family: 'Times New Roman',Times,serif;"><a href="exhibit_99-2.htm"><br>
              </a> </td>
            <td style="width: 89%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
              <div style="text-align: justify; line-height: 1.25;"><a href="exhibit_99-2.htm">Operating and Financial Review as of September 30, 2022 and for the nine months then
                  ended</a></div>
            </td>
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      <div style="text-align: center; line-height: 1.25; font-weight: bold;">SIGNATURES</div>
      <div style="text-align: center; line-height: 1.25;">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</div>
      <div style="line-height: 1.25;">&#160;</div>
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            <td style="width: 49.96%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
              <div style="line-height: 1.25;">Date: November 14, 2022</div>
            </td>
            <td style="width: 50.04%; vertical-align: middle; font-family: 'Times New Roman',Times,serif;" colspan="2">
              <div style="line-height: 1.25; font-weight: bold;">PAINREFORM LTD.</div>
            </td>
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          <tr>
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              <div style="line-height: 1.25;">&#160;</div>
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              <div style="line-height: 1.25;">&#160;</div>
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            <td style="width: 49.96%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 3.09%; vertical-align: middle; font-family: 'Times New Roman',Times,serif;">
              <div style="line-height: 1.25;">By:</div>
            </td>
            <td style="width: 46.96%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">
              <div style="line-height: 1.25;">/s/ Ilan Hadar</div>
            </td>
          </tr>
          <tr>
            <td style="width: 49.96%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 3.09%; vertical-align: middle; font-family: 'Times New Roman',Times,serif;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 46.96%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
              <div style="line-height: 1.25;">Ilan Hadar</div>
            </td>
          </tr>
          <tr>
            <td style="width: 49.96%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 3.09%; vertical-align: middle; font-family: 'Times New Roman',Times,serif;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 46.96%; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
              <div style="line-height: 1.25;">Chief Executive Officer</div>
            </td>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exhibit_99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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    </div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">PAINREFORM LTD. </div>
    <div style="text-align: center; text-indent: 34.5pt; margin-right: 200.9pt; margin-left: 204pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;"> <br>
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    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">CONDENSED FINANCIAL STATEMENTS</div>
    <div style="text-align: center; text-indent: 34.5pt; margin-right: 200.9pt; margin-left: 204pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;"> <br>
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    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">AS OF SEPTEMBER 30, 2022, </div>
    <div style="text-align: center; text-indent: -12.2pt; margin-right: 200.9pt; margin-left: 249.8pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;"> <br>
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    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">UNAUDITED</div>
    <div style="text-align: center; text-indent: -12.2pt; margin-right: 200.9pt; margin-left: 249.8pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;"> <br>
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    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">U.S. DOLLARS IN THOUSANDS</div>
    <div style="text-align: center; text-indent: -40.2pt; margin-right: 200.9pt; margin-left: 259.7pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;"> <br>
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    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;"> INDEX</div>
    <div style="text-align: right; text-indent: 19.35pt; margin-right: 6.15pt; line-height: 1.25;"><font style="font-weight: bold;"><u> <br>
        </u></font></div>
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            <div>&#160;<font style="font-weight: bold;"><u>Page</u></font></div>
            <div><font style="font-weight: bold;"><u> <br>
                </u></font></div>
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        <tr>
          <td style="width: 82.27%; vertical-align: top;">
            <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><a href="#BALANCESHEETSU"><u>Condensed Balance Sheets</u></a></div>
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          <td style="width: 17.73%; vertical-align: top;">
            <div style="text-align: right; line-height: 1.25; font-weight: bold;">F-2</div>
          </td>
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        <tr>
          <td style="width: 82.27%; vertical-align: top;">&#160;</td>
          <td style="width: 17.73%; vertical-align: top; text-align: right;">&#160;</td>
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        <tr>
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            <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><a href="#FCOMPREHENSIVELOSSUNAUDIT"><u>Condensed Statements of Com</u>p<u>rehensive Loss</u></a></div>
          </td>
          <td style="width: 17.73%; vertical-align: top;">
            <div style="text-align: right; line-height: 1.25; font-weight: bold;">F-3</div>
          </td>
        </tr>
        <tr>
          <td style="width: 82.27%; vertical-align: top;">&#160;</td>
          <td style="width: 17.73%; vertical-align: top; text-align: right;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 82.27%; vertical-align: top;">
            <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><a href="#EQUITY"><u>Condensed Statements of Chan</u>g<u>es in Shareholders&#8217; E</u>q<u>uit</u>y</a></div>
          </td>
          <td style="width: 17.73%; vertical-align: top;">
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          </td>
        </tr>
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          <td style="width: 82.27%; vertical-align: top;">&#160;</td>
          <td style="width: 17.73%; vertical-align: top; text-align: right;">&#160;</td>
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          <td style="width: 82.27%; vertical-align: top;">
            <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><a href="#ASHFLOW"><u>Condensed Statements of Cash Flows</u></a></div>
          </td>
          <td style="width: 17.73%; vertical-align: top;">
            <div style="text-align: right; line-height: 1.25; font-weight: bold;">F-5</div>
          </td>
        </tr>
        <tr>
          <td style="width: 82.27%; vertical-align: top;">&#160;</td>
          <td style="width: 17.73%; vertical-align: top; text-align: right;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 82.27%; vertical-align: top;">
            <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><a href="#NOTES"><u>Notes to Condensed Financial Statements</u></a></div>
          </td>
          <td style="width: 17.73%; vertical-align: top;">
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      <div style="text-align: right; line-height: 1.25; font-weight: bold;">PAINREFORM LTD.</div>
      <div style="text-align: right; line-height: 1.25; font-weight: bold;"> <br>
      </div>
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            <div style="line-height: 1.25; font-weight: bold;">CONDENSED <a name="BALANCESHEETSU"><!--Anchor--></a>BALANCE SHEETS (UNAUDITED)</div>
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          <td style="width: 59.25%; vertical-align: top;">
            <div style="line-height: 1.25; font-weight: bold;">U.S. dollars in thousands (except share and per share data)</div>
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          <td style="width: 14.37%; vertical-align: top;">&#160;</td>
          <td style="width: 13.83%; vertical-align: top;">&#160;</td>
          <td style="width: 12.55%; vertical-align: top;">&#160;</td>
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          <td valign="bottom" style="vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
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            <div style="line-height: 1.25;"><font style="line-height: 1.25;"> </font></div>
            <div style="line-height: 1.25;"><font style="line-height: 1.25;"> </font></div>
            <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Note</div>
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          <td nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td class="cftguttercell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px; text-align: center;">&#160;</td>
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            <div style="text-align: center;">As of </div>
            <div style="text-align: center;">September 30,</div>
            <div style="text-align: center;">2022</div>
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          <td nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: center; vertical-align: bottom; font-family: 'Times New Roman',Times,serif; font-weight: bold;">&#160;</td>
          <td class="cftguttercell" colspan="1" style="vertical-align: bottom; text-align: center; font-family: 'Times New Roman',Times,serif; font-weight: bold;">&#160;</td>
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            <div style="text-align: center;">As of </div>
            <div style="text-align: center;">December 31,</div>
            <div style="text-align: center;">2021</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
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            <div style="line-height: 1.25; font-weight: bold;">Assets</div>
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          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom;">&#160;</td>
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            <div style="line-height: 1.25;">Current assets:</div>
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          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
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            <div style="line-height: 1.25;">Cash and cash equivalents</div>
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          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom;">
            <div style="line-height: 1.25;">$</div>
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          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right;">
            <div style="line-height: 1.25;">6,922</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom;">
            <div style="line-height: 1.25;">$</div>
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          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right;">
            <div style="line-height: 1.25;">16,537</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom;">&#160;</td>
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        <tr>
          <td valign="bottom" style="vertical-align: top;">
            <div style="line-height: 1.25;">Short term deposits</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right;">
            <div style="line-height: 1.25;">6,034</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right;">
            <div style="line-height: 1.25;">-</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
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        <tr>
          <td valign="bottom" style="vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="line-height: 1.25;">Restricted cash</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; background-color: rgb(204, 238, 255);">
            <div style="line-height: 1.25;">24</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; background-color: rgb(204, 238, 255);">
            <div style="line-height: 1.25;">34</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
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        <tr>
          <td valign="bottom" style="vertical-align: top; width: 64%;">
            <div style="line-height: 1.25;">Prepaid clinical trial expenses and deferred clinical trial costs</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
            <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; text-align: center;">7</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
            <div style="line-height: 1.25;">1,728</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
            <div style="line-height: 1.25;">1,728</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
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        <tr>
          <td valign="bottom" style="vertical-align: top; width: 64%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
            <div style="line-height: 1.25;">Prepaid expenses and other current assets</div>
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          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="line-height: 1.25;">100</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="line-height: 1.25;">721</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 64%;">
            <div style="line-height: 1.25; font-weight: bold;">Total current assets</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
            <div style="line-height: 1.25; font-weight: bold;">14,808</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
            <div style="line-height: 1.25; font-weight: bold;">19,020</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
        </tr>
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          <td valign="bottom" style="vertical-align: top; width: 64%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 64%; padding-bottom: 2px;">
            <div style="line-height: 1.25; font-weight: bold;">Property and equipment, net</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25; font-weight: bold;">44</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25; font-weight: bold;">53</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
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        <tr>
          <td valign="bottom" style="vertical-align: top; width: 64%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
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        <tr>
          <td valign="bottom" style="vertical-align: top; width: 64%; padding-bottom: 4px;">
            <div style="line-height: 1.25; font-weight: bold;">Total assets</div>
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          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">
            <div style="line-height: 1.25;"><font style="font-weight: bold;">$</font></div>
          </td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
            <div style="line-height: 1.25;"><font style="font-weight: bold;">14,852</font></div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">
            <div style="line-height: 1.25;"><font style="font-weight: bold;">$</font></div>
          </td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
            <div style="line-height: 1.25;"><font style="font-weight: bold;">19,073</font></div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 64%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 64%;">
            <div style="line-height: 1.25; font-weight: bold;">Liabilities and shareholders&#8217; equity</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 64%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 64%;">
            <div style="line-height: 1.25; font-weight: bold;">Current liabilities:</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 64%; background-color: rgb(204, 238, 255);">
            <div style="line-height: 1.25;">Trade payables</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
            <div style="line-height: 1.25;">$</div>
          </td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
            <div style="line-height: 1.25;">385</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
            <div style="line-height: 1.25;">$</div>
          </td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
            <div style="line-height: 1.25;">136</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 64%;">
            <div style="line-height: 1.25;">Employees and related liabilities</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
            <div style="line-height: 1.25;">414</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
            <div style="line-height: 1.25;">423</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 64%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
            <div style="line-height: 1.25;">Accrued expenses</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="line-height: 1.25;">395</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="line-height: 1.25;">198</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 64%; padding-bottom: 4px;">
            <div style="line-height: 1.25; font-weight: bold;">Total current liabilities</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
            <div style="line-height: 1.25; font-weight: bold;">1,194</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
            <div style="line-height: 1.25; font-weight: bold;">757</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 64%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 64%;">
            <div style="line-height: 1.25; font-weight: bold;">Non-current liabilities:</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 64%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
            <div style="line-height: 1.25;">Provision for uncertain tax positions</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="line-height: 1.25;">240</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="line-height: 1.25;">234</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
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        <tr>
          <td valign="bottom" style="vertical-align: top; width: 64%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
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        <tr>
          <td valign="bottom" style="vertical-align: top; width: 64%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">
            <div style="line-height: 1.25; font-weight: bold;">Total liabilities</div>
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          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25; font-weight: bold;">1,434</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25; font-weight: bold;">991</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 64%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 64%; background-color: rgb(204, 238, 255);">
            <div style="line-height: 1.25;">Commitments and contingencies (Note 7)</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 64%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
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        <tr>
          <td valign="bottom" style="vertical-align: top; width: 64%; background-color: rgb(204, 238, 255);">
            <div style="line-height: 1.25; font-weight: bold;">Shareholders&#8217; equity:</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 64%;">
            <div style="line-height: 1.25;">Ordinary shares, NIS 0.03 par value; Authorized: 26,666,667 shares as of September 30, </div>
            <div style="line-height: 1.25;">2022 and December 31, 2021; Issued and outstanding: 10,634,166 and 10,482,056 </div>
            <div style="line-height: 1.25;">shares as of September 30, 2022 and December 31, 2021, respectively.</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
            <div style="line-height: 1.25;">94</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
            <div style="line-height: 1.25;">94</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 64%; background-color: rgb(204, 238, 255);">
            <div style="line-height: 1.25;">Additional paid-in capital</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
            <div style="line-height: 1.25;">42,677</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
            <div style="line-height: 1.25;">41,715</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 64%; padding-bottom: 2px;">
            <div style="line-height: 1.25;">Accumulated deficit</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25;">(29,353</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">
            <div style="line-height: 1.25;">)</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25;">(23,727</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">
            <div style="line-height: 1.25;">)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 64%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 64%; padding-bottom: 2px;">
            <div style="line-height: 1.25; font-weight: bold;">Total shareholders&#8217; equity</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px;">
            <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; text-align: center;">4</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25; font-weight: bold;">13,418</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25; font-weight: bold;">18,082</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 64%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
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          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
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          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">
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    <div style="line-height: 1.25;">
      <div style="line-height: 1.25;">The accompanying notes are an integral part of the unaudited condensed financial statements.</div>
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    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">F - 2</font></div>
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    <div style="text-align: right; margin-right: 6.1pt; line-height: 1.25; font-weight: bold;">PAINREFORM LTD.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">CONDENSED STATEMENTS OF COMPREHENSIVE LOSS (UNAUDITED)<a name="FCOMPREHENSIVELOSSUNAUDIT"><!--Anchor--></a></div>
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          <td valign="bottom" rowspan="1" colspan="2" style="vertical-align: top; font-family: 'Times New Roman',Times,serif; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" rowspan="1" class="cftfncell" colspan="1" style="text-align: center; vertical-align: bottom; font-family: 'Times New Roman',Times,serif; font-weight: bold; padding-bottom: 2px;">&#160;</td>
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            <div style="text-align: center; font-weight: bold;">Note</div>
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            <div style="text-align: center; font-weight: bold;">2022</div>
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          <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; font-family: 'Times New Roman',Times,serif; text-align: center; font-weight: bold;">&#160;</td>
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            <div style="text-align: center; font-weight: bold;">2021</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
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          <td valign="bottom" style="vertical-align: top;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
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          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top; background-color: #CCEEFF;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom;">&#160;</td>
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          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom;">
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          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right;">
            <div style="line-height: 1.25;">(2,473</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">
            <div style="line-height: 1.25;">)</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom;">
            <div style="line-height: 1.25;">$</div>
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          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right;">
            <div style="line-height: 1.25;">(2,304</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">
            <div style="line-height: 1.25;">)</div>
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        <tr>
          <td valign="bottom" style="vertical-align: top; background-color: #CCEEFF; padding-bottom: 2px;">
            <div style="margin-left: 6.25pt; line-height: 1.25;">General and administrative expenses</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; border-bottom: #000000 solid 2px;">
            <div style="line-height: 1.25;">(3,140</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; padding-bottom: 2px;">
            <div style="line-height: 1.25;">)</div>
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          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; border-bottom: #000000 solid 2px;">
            <div style="line-height: 1.25;">(3,163</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; padding-bottom: 2px;">
            <div style="line-height: 1.25;">)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; background-color: #CCEEFF;">
            <div style="line-height: 1.25;">Operating loss</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right;">
            <div style="line-height: 1.25;">(5,613</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom;">
            <div style="line-height: 1.25;">)</div>
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          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right;">
            <div style="line-height: 1.25;">(5,467</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom;">
            <div style="line-height: 1.25;">)</div>
          </td>
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        <tr>
          <td valign="bottom" style="vertical-align: top;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
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        <tr>
          <td valign="bottom" style="vertical-align: top; background-color: #CCEEFF; width: 64%; padding-bottom: 2px;">
            <div style="line-height: 1.25;">Financial expense, net <br>
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          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; text-align: center; width: 9%; padding-bottom: 2px;">6</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;">
            <div style="line-height: 1.25;">(13</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%; padding-bottom: 2px;">
            <div style="line-height: 1.25;">)</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;">
            <div style="line-height: 1.25;">(46</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%; padding-bottom: 2px;">
            <div style="line-height: 1.25;">)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 64%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
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          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
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          <td valign="bottom" style="vertical-align: top; width: 64%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
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          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;">
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          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;">
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          <td valign="bottom" rowspan="1" style="vertical-align: top; width: 64%;">&#160;</td>
          <td valign="bottom" rowspan="1" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" rowspan="1" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" rowspan="1" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" rowspan="1" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" rowspan="1" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" rowspan="1" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" rowspan="1" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" rowspan="1" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" rowspan="1" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" rowspan="1" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" rowspan="1" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" rowspan="1" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
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          <td valign="bottom" rowspan="1" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" rowspan="1" class="cftcurrcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
          <td valign="bottom" rowspan="1" class="cftnumcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" rowspan="1" class="cftfncell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
          <td valign="bottom" rowspan="1" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" rowspan="1" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;">&#160;</td>
          <td valign="bottom" rowspan="1" class="cftnumcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); font-weight: bold;">10,634,166 <br>
          </td>
          <td valign="bottom" nowrap="nowrap" rowspan="1" class="cftfncell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%; padding-bottom: 4px; font-weight: bold;">&#160;</td>
          <td valign="bottom" rowspan="1" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255); font-weight: bold;">&#160;</td>
          <td valign="bottom" rowspan="1" class="cftcurrcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); font-weight: bold;">&#160;</td>
          <td valign="bottom" rowspan="1" class="cftnumcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); font-weight: bold;">&#160;9,731,501 <br>
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          <td valign="bottom" nowrap="nowrap" rowspan="1" class="cftfncell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%; padding-bottom: 4px; font-weight: bold;">&#160;</td>
        </tr>

    </table>
    <br>
    <div style="line-height: 1.25;">The accompanying notes are an integral part of the unaudited condensed financial statements.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">F - 3</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="line-height: 1.25;"><br>
      <div style="text-align: right; margin-right: 6.1pt; line-height: 1.25; font-weight: bold;">PAINREFORM LTD.</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS&#8217; EQUITY<a name="EQUITY"><!--Anchor--></a> (UNAUDITED)</div>
      <div style="line-height: 1.25">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">U.S. dollars in thousands (except share data)</div>
    </div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25;">
      <table cellspacing="0" cellpadding="0" class="cfttable" id="zf54fe6f5ea1d47a18e012bf4b6a037f0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

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            <td rowspan="1" style="background-color: #FFFFFF; border-bottom: #000000; vertical-align: top;">&#160;</td>
            <td class="cftguttercell" colspan="1" rowspan="1" style="background-color: #FFFFFF; border-bottom: #000000; vertical-align: bottom; text-align: right;">&#160;</td>
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              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">paid-in</div>
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            <td class="cftfncell" colspan="1" rowspan="1" style="background-color: #FFFFFF; border-bottom: #000000; vertical-align: bottom; white-space: nowrap; font-weight: bold; text-align: center;">&#160;</td>
            <td class="cftguttercell" colspan="1" rowspan="1" style="background-color: #FFFFFF; border-bottom: #000000; vertical-align: bottom; font-weight: bold; text-align: center;">&#160;</td>
            <td colspan="2" rowspan="1" style="background-color: rgb(255, 255, 255); vertical-align: bottom; font-weight: bold; text-align: center;"> <font style="font-family: 'Times New Roman',Times,serif;">Accumulated</font> <br>
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            <td rowspan="1" style="background-color: #FFFFFF; border-bottom: #000000; vertical-align: top;">&#160;</td>
            <td class="cftguttercell" colspan="1" rowspan="1" style="background-color: #FFFFFF; border-bottom: #000000; vertical-align: bottom; text-align: right;">&#160;</td>
            <td colspan="2" rowspan="1" style="background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; text-align: center;"><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">Number</font>
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            <td class="cftfncell" colspan="1" rowspan="1" style="background-color: #FFFFFF; border-bottom: #000000; vertical-align: bottom; white-space: nowrap; text-align: center;">&#160;</td>
            <td class="cftguttercell" colspan="1" rowspan="1" style="background-color: #FFFFFF; border-bottom: #000000; vertical-align: bottom; text-align: center;">&#160;</td>
            <td colspan="2" rowspan="1" style="background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; text-align: center;"><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;"><font style="font-weight: bold;">Amount</font></font> <br>
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            <td class="cftfncell" colspan="1" rowspan="1" style="background-color: #FFFFFF; border-bottom: #000000; vertical-align: bottom; white-space: nowrap; text-align: center;">&#160;</td>
            <td class="cftguttercell" colspan="1" rowspan="1" style="background-color: #FFFFFF; border-bottom: #000000; vertical-align: bottom; text-align: center;">&#160;</td>
            <td colspan="2" rowspan="1" style="background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; text-align: center;"><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;"> <font style="font-weight: bold;">capital</font> </font> <br>
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            <td class="cftfncell" colspan="1" rowspan="1" style="background-color: #FFFFFF; border-bottom: #000000; vertical-align: bottom; white-space: nowrap; text-align: center;">&#160;</td>
            <td class="cftguttercell" colspan="1" rowspan="1" style="background-color: #FFFFFF; border-bottom: #000000; vertical-align: bottom; text-align: center;">&#160;</td>
            <td colspan="2" rowspan="1" style="background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; text-align: center;"><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;"> <font style="font-weight: bold;">deficit</font></font> <br>
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            <td class="cftfncell" colspan="1" rowspan="1" style="background-color: #FFFFFF; border-bottom: #000000; vertical-align: bottom; white-space: nowrap; text-align: center;">&#160;</td>
            <td class="cftguttercell" colspan="1" rowspan="1" style="background-color: #FFFFFF; border-bottom: #000000; vertical-align: bottom; text-align: center;">&#160;</td>
            <td colspan="2" rowspan="1" style="background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0); vertical-align: bottom; text-align: center;"><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">Equity</font>
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            <td class="cftfncell" colspan="1" rowspan="1" style="background-color: #FFFFFF; border-bottom: #000000; vertical-align: bottom; white-space: nowrap;">&#160;</td>
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            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="line-height: 1.25; font-weight: bold;">8,758,037</div>
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            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div style="line-height: 1.25; font-weight: bold;">$</div>
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            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="line-height: 1.25; font-weight: bold;">78</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
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            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="line-height: 1.25;"><font style="font-weight: bold;">33,023</font></div>
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            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
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            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
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            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div style="line-height: 1.25;"><font style="font-weight: bold;">$</font></div>
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            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
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          <tr>
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              <div style="line-height: 1.25;">Shares and warrants issuance - Private Investment in Public Equity ("PIPE"), net</div>
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            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="line-height: 1.25;">1,304,346</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="line-height: 1.25;">12</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="line-height: 1.25;">5,542</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="line-height: 1.25;">-</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="line-height: 1.25; font-weight: bold;">5,554</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: top; width: 40%; background-color: rgb(204, 238, 255);">
              <div style="line-height: 1.25;">Exercise of warrants</div>
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            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="line-height: 1.25;">419,673</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="line-height: 1.25;">18</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="line-height: 1.25;">1,912</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="line-height: 1.25; font-weight: bold;">1,930</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: top; width: 40%;">
              <div style="line-height: 1.25;">Share-based compensation to employees and directors</div>
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            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="line-height: 1.25;">-</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="line-height: 1.25;">-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="line-height: 1.25;">582</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="line-height: 1.25;">-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="line-height: 1.25; font-weight: bold;">582</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: top; width: 40%; background-color: rgb(204, 238, 255);">
              <div style="line-height: 1.25;">Share-based compensation to service providers</div>
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            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="line-height: 1.25;">-</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="line-height: 1.25;">-</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="line-height: 1.25;">309</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="line-height: 1.25;">-</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="line-height: 1.25; font-weight: bold;">309</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: top; width: 40%; padding-bottom: 2px;">
              <div style="line-height: 1.25;">Net loss and comprehensive loss</div>
            </td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25;">-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25;">-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25;">-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25;">(5,513</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">
              <div style="line-height: 1.25;">)</div>
            </td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25; font-weight: bold;">(5,513</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">
              <div style="line-height: 1.25; font-weight: bold;">)</div>
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          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: top; width: 40%; background-color: rgb(204, 238, 255); padding-bottom: 4px;">
              <div style="line-height: 1.25; font-weight: bold;">Balance as of September 30, 2021</div>
            </td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);">
              <div style="line-height: 1.25; font-weight: bold;">10,482,056</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);">
              <div style="line-height: 1.25;"><font style="font-weight: bold;">$</font></div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);">
              <div style="line-height: 1.25;"><font style="font-weight: bold;">108</font></div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);">
              <div style="line-height: 1.25;"><font style="font-weight: bold;">$</font></div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);">
              <div style="line-height: 1.25;"><font style="font-weight: bold;">41,368</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);">
              <div style="line-height: 1.25; font-weight: bold;">(21,994</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px;">
              <div style="line-height: 1.25; font-weight: bold;">)</div>
            </td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);">
              <div style="line-height: 1.25;"><font style="font-weight: bold;">$</font></div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);">
              <div style="line-height: 1.25;"><font style="font-weight: bold;">19,482</font></div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px;">&#160;</td>
          </tr>

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      <div style="line-height: 1.25">&#160;</div>
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    <div style="line-height: 1.25;">
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          <tr>
            <td valign="bottom" rowspan="1" style="vertical-align: top; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            <td colspan="6" rowspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: center; font-weight: bold;">Ordinary shares <br>
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            <td nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold;">&#160;</td>
            <td class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold;">&#160;</td>
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              <div style="font-weight: bold;">capital</div>
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            <td nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold;">&#160;</td>
            <td class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold;">&#160;</td>
            <td colspan="2" rowspan="2" style="vertical-align: bottom; text-align: center; font-weight: bold; border-bottom: 2px solid rgb(0, 0, 0);"> <font style="font-family: 'Times New Roman',Times,serif;">Accumulated</font>
              <div style="font-weight: bold;">deficit</div>
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            <td nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold;">&#160;</td>
            <td class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold;">&#160;</td>
            <td colspan="2" rowspan="2" style="vertical-align: bottom; text-align: center; font-weight: bold; border-bottom: 2px solid rgb(0, 0, 0);"> Total shareholders&#8217;
              <div style="font-weight: bold;">Equity</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
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          <tr>
            <td valign="bottom" rowspan="1" style="vertical-align: top; padding-bottom: 2px;"><br>
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            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
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              <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold; text-indent: 14pt;">Number</div>
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            <td nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            <td class="cftguttercell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px; text-align: center;">&#160;</td>
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            <td nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold;">&#160;</td>
            <td class="cftguttercell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold;">&#160;</td>
            <td nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold;">&#160;</td>
            <td class="cftguttercell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold;">&#160;</td>
            <td nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold;">&#160;</td>
            <td class="cftguttercell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px; text-align: center; font-weight: bold;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
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          <tr>
            <td valign="bottom" rowspan="1" style="vertical-align: top;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: top; background-color: rgb(204, 238, 255); width: 40%;">
              <div style="line-height: 1.25; font-weight: bold;">Balance as of January 1, 2022</div>
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            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; text-align: right; width: 9%;">
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%;">
              <div style="line-height: 1.25; font-weight: bold;">$</div>
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            <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; text-align: right; width: 9%;">
              <div style="line-height: 1.25; font-weight: bold;">94</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%;">
              <div style="line-height: 1.25;"><font style="font-weight: bold;">$</font></div>
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            <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; text-align: right; width: 9%;">
              <div style="line-height: 1.25;"><font style="font-weight: bold;">41,715</font></div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%;">
              <div style="line-height: 1.25;"><font style="font-weight: bold;">$</font></div>
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            <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; text-align: right; width: 9%;">
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%;">
              <div style="line-height: 1.25;"><font style="font-weight: bold;">)</font></div>
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            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%;">
              <div style="line-height: 1.25;"><font style="font-weight: bold;">$</font></div>
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            <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; text-align: right; width: 9%;">
              <div style="line-height: 1.25;"><font style="font-weight: bold;">18,082</font></div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: top; width: 40%;">
              <div style="line-height: 1.25;">Share-based compensation to employees and directors</div>
            </td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="line-height: 1.25;">-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="line-height: 1.25;">-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="line-height: 1.25;">653</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="line-height: 1.25;">-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="line-height: 1.25;">653</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: top; width: 40%; background-color: rgb(204, 238, 255);">
              <div style="line-height: 1.25;">Share-based compensation to service providers</div>
            </td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="line-height: 1.25;">-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="line-height: 1.25;">-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="line-height: 1.25;">309</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="line-height: 1.25;">-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="line-height: 1.25;">309</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: top; width: 40%;">
              <div style="line-height: 1.25;">Shares issuance to service providers</div>
            </td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="line-height: 1.25;">152,110</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="line-height: 1.25;">*</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="line-height: 1.25;">-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="line-height: 1.25;">-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="line-height: 1.25;">*</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: top; background-color: rgb(204, 238, 255); width: 40%; padding-bottom: 2px;">
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            </td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25;">-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25;">-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25;">-</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25;">(5,626</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%; padding-bottom: 2px;">
              <div style="line-height: 1.25;">)</div>
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            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
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          <tr>
            <td valign="bottom" style="vertical-align: top; width: 40%; padding-bottom: 4px;">
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            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="line-height: 1.25; font-weight: bold;">10,634,166</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="line-height: 1.25; font-weight: bold;">$</div>
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            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="line-height: 1.25; font-weight: bold;">94</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="line-height: 1.25;"><font style="font-weight: bold;">$</font></div>
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            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="line-height: 1.25;"><font style="font-weight: bold;">42,677</font></div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="line-height: 1.25;"><font style="font-weight: bold;">$</font></div>
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            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="line-height: 1.25;"><font style="font-weight: bold;">(29,353</font></div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;">
              <div style="line-height: 1.25;"><font style="font-weight: bold;">)</font></div>
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            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="line-height: 1.25;"><font style="font-weight: bold;">$</font></div>
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            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="line-height: 1.25;"><font style="font-weight: bold;">13,418</font></div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
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      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25">
        <div style="line-height: 1.25;">(*) Less than $1.</div>
        <div style="line-height: 1.25;"> <br>
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      </div>
      <div style="line-height: 1.25;">The accompanying notes are an integral part of the unaudited condensed financial statements.</div>
      <div style="margin-left: 5.15pt; line-height: 1.25;"> <br>
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      <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">F - 4</font></div>
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          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
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      <div style="line-height: 1.25">&#160;</div>
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    <div style="text-align: right; margin-right: 6.1pt; line-height: 1.25; font-weight: bold;">PAINREFORM LTD.</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">CONDENSED STATEMENTS OF C<a name="ASHFLOW"><!--Anchor--></a>ASH FLOWS (UNAUDITED)</div>
    <div style="line-height: 1.25">
      <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">U.S. dollars in thousands</div>
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          <td valign="bottom" rowspan="1" style="vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="6" rowspan="1" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); text-align: center; font-weight: bold;">Nine months ended September 30, <br>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
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          <td valign="bottom" rowspan="2" style="vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="2" rowspan="1" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; text-align: center;">
            <div style="font-weight: bold;"> 2022</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; padding-bottom: 2px; font-weight: bold;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; padding-bottom: 2px; font-weight: bold;">&#160;</td>
          <td valign="bottom" colspan="2" rowspan="1" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; text-align: center;">
            <div style="font-weight: bold;">2021</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
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        <tr>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
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          <td valign="bottom" style="vertical-align: top; background-color: rgb(204, 238, 255);">
            <div style="line-height: 1.25;"><u>Cash flows from operating activities</u></div>
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          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
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        <tr>
          <td valign="bottom" style="vertical-align: top; background-color: #CCEEFF; width: 76%;">
            <div style="line-height: 1.25;">Net loss</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">
            <div style="line-height: 1.25;">$</div>
          </td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%;">
            <div style="line-height: 1.25;">(5,626</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">
            <div style="line-height: 1.25;">)</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">
            <div style="line-height: 1.25;">$</div>
          </td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%;">
            <div style="line-height: 1.25;">(5,513</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">
            <div style="line-height: 1.25;">)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%;">
            <div style="line-height: 1.25;">Adjustments to reconcile net loss to net cash used in operating activities:</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; background-color: #CCEEFF; width: 76%;">
            <div style="line-height: 1.25;">Depreciation</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%;">
            <div style="line-height: 1.25;">9</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%;">
            <div style="line-height: 1.25;">4</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%;">
            <div style="line-height: 1.25;">Share-based compensation to employees and directors</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
            <div style="line-height: 1.25;">653</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
            <div style="line-height: 1.25;">582</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; background-color: #CCEEFF; width: 76%;">
            <div style="line-height: 1.25;">Share-based compensation to service providers</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%;">
            <div style="line-height: 1.25;">309</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%;">
            <div style="line-height: 1.25;">309</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%;">
            <div style="line-height: 1.25;">Change in:</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; background-color: #CCEEFF; width: 76%;">
            <div style="margin-left: 6.25pt; line-height: 1.25;">Other current assets</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%;">
            <div style="line-height: 1.25;">621</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%;">
            <div style="line-height: 1.25;">161</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%;">
            <div style="margin-left: 6.25pt; line-height: 1.25;">Trade payables</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
            <div style="line-height: 1.25;">249</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
            <div style="line-height: 1.25;">(550</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">
            <div style="line-height: 1.25;">)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; background-color: rgb(204, 238, 255); width: 76%; padding-bottom: 2px;">
            <div style="margin-left: 6.25pt; line-height: 1.25;">Other accounts payable</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25;">194</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25;">225</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
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          <td valign="bottom" style="vertical-align: top; background-color: rgb(204, 238, 255); width: 76%; padding-bottom: 2px;">
            <div style="line-height: 1.25; font-weight: bold;">Net cash used in operating activities</div>
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          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%; padding-bottom: 2px;">
            <div style="line-height: 1.25; font-weight: bold;">)</div>
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          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%; padding-bottom: 2px;">
            <div style="line-height: 1.25; font-weight: bold;">)</div>
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        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
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        <tr>
          <td valign="bottom" style="vertical-align: top; background-color: rgb(204, 238, 255); width: 76%;">
            <div style="line-height: 1.25;"><u>Cash flows from investing activities</u></div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%;">
            <div style="line-height: 1.25;">Purchase of&#160; short term deposit</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
            <div style="line-height: 1.25;">(6,034</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">
            <div style="line-height: 1.25;">)</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
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        <tr>
          <td valign="bottom" style="vertical-align: top; background-color: rgb(204, 238, 255); width: 76%; padding-bottom: 2px;">
            <div style="line-height: 1.25;">Purchase of property and equipment</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
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          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; width: 1%; padding-bottom: 2px;">
            <div style="line-height: 1.25;">)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; padding-bottom: 2px;">
            <div style="line-height: 1.25; font-weight: bold;">Net cash used in investing activities</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25; font-weight: bold;">(6,034</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">
            <div style="line-height: 1.25; font-weight: bold;">)</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25; font-weight: bold;">(22</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">
            <div style="line-height: 1.25; font-weight: bold;">)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; background-color: #CCEEFF; width: 76%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%;">
            <div style="line-height: 1.25;"><u>Cash flows from financing activities</u></div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; background-color: #CCEEFF; width: 76%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%;">
            <div style="line-height: 1.25;">Proceeds from Exercise of warrants</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
            <div style="line-height: 1.25;">1,930</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);">
            <div style="line-height: 1.25;">Proceeds from issuance of ordinary shares under Private Investment in Public Equity</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
            <div style="line-height: 1.25;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
            <div style="line-height: 1.25;">6,000</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; padding-bottom: 2px;">
            <div style="line-height: 1.25;">Issuance costs</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25;">(446</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">
            <div style="line-height: 1.25;">)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; padding-bottom: 2px;">
            <div style="line-height: 1.25; font-weight: bold;">Net cash provided by financing activities</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25; font-weight: bold;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25; font-weight: bold;">7,484</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%;">
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          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
            <div style="line-height: 1.25;"><font style="font-weight: bold;">(9,625</font></div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">
            <div style="line-height: 1.25;">)</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
            <div style="line-height: 1.25; font-weight: bold;">2,680</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
            <div style="line-height: 1.25; font-weight: bold;">Cash, cash equivalents and restricted cash at the beginning of the period</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="line-height: 1.25; font-weight: bold;">16,571</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25; font-weight: bold;">15,690</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255); padding-bottom: 4px;">
            <div style="line-height: 1.25; font-weight: bold;">Cash, cash equivalents and restricted cash at the end of the period</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);">
            <div style="line-height: 1.25;"><font style="font-weight: bold;">$</font></div>
          </td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);">
            <div style="line-height: 1.25;"><font style="font-weight: bold;">6,946</font></div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);">
            <div style="line-height: 1.25;"><font style="font-weight: bold;">$</font></div>
          </td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 4px double rgb(0, 0, 0);">
            <div style="line-height: 1.25;"><font style="font-weight: bold;">18,370</font></div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px;">&#160;</td>
        </tr>

    </table>
    <div style="line-height: 1.25">&#160;</div>
    <div style="line-height: 1.25;">The below table reconciles cash, cash equivalents and restricted cash as reported in the balance sheets to the total of the same amounts shown in the statements of cash flows:</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="line-height: 1.25">
      <table cellspacing="0" cellpadding="0" border="0" class="cfttable" id="z0e91706132174b29b634eb0ce495ea2f" style="width: 80%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">

          <tr>
            <td valign="bottom" style="padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
            <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" colspan="6" rowspan="1" style="border-bottom: #000000 solid 2px;">
              <div style="text-align: center;"><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">As of September 30,</font><br>
              </div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" colspan="2" style="border-bottom: #000000 solid 2px;">
              <div style="text-align: center;"><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;"> 2022 <br>
                </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" colspan="2" style="border-bottom: #000000 solid 2px;">
              <div style="text-align: center;"><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">2021</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="background-color: rgb(204, 238, 255); width: 76%;">
              <div>Cash and cash equivalents&#160; <br>
              </div>
            </td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: rgb(204, 238, 255); text-align: left; vertical-align: bottom; width: 1%;">
              <div>$</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; text-align: right; width: 9%;">
              <div>6,922</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: rgb(204, 238, 255); text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: rgb(204, 238, 255); text-align: left; vertical-align: bottom; width: 1%;">
              <div>$</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; text-align: right; width: 9%;">
              <div>18,337</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: rgb(204, 238, 255); text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="width: 76%; padding-bottom: 2px;">
              <div>
                <div style="text-align: left; line-height: 1.25;">Restricted cash</div>
              </div>
            </td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>24</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>33</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="background-color: rgb(204, 238, 255); width: 76%; padding-bottom: 4px;">
              <div>
                <div style="line-height: 1.25;">
                  <div style="text-align: left; line-height: 1.25;">Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows</div>
                </div>
              </div>
            </td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: rgb(204, 238, 255); text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="line-height: 1.25;"><font style="font-weight: bold;">$</font></div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="line-height: 1.25;"><font style="font-weight: bold;">6,946</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: rgb(204, 238, 255); text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: rgb(204, 238, 255); text-align: left; vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="line-height: 1.25;"><font style="font-weight: bold;">$</font></div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: rgb(204, 238, 255); vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="line-height: 1.25;"><font style="font-weight: bold;">18,370</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: rgb(204, 238, 255); text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
          </tr>

      </table>
    </div>
    <div style="line-height: 1.25"> <br>
    </div>
    <div style="line-height: 1.25;">The accompanying notes are an integral part of the unaudited condensed financial statements.</div>
    <div style="line-height: 1.25;"> <br>
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">F - 5</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: right; margin-right: 6.1pt; line-height: 1.25; font-weight: bold;">PAINREFORM LTD.</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;"><a name="NOTES"><!--Anchor--></a>NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED)</div>
    <div style="line-height: 1.25">
      <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">
      <div>
        <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">U.S. dollars in thousands, except share and per share data</div>
      </div>
    </div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">NOTE 1: GENERAL</div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;"> <br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z04aecbb161904cdf93ccba8864dc2e60">

        <tr>
          <td style="width: 42.95pt;"><br>
          </td>
          <td style="width: 12.6pt; vertical-align: top;">a.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>PainReform Ltd. (the "Company") was incorporated under the laws of the State of Israel in November 2007. The Company is a clinical stage specialty pharmaceutical company focused on the reformulation of established therapeutics. The
              Company&#8217;s proprietary extended release drug-delivery system is designed to provide an extended period of post-surgical pain relief without the need for repeated dose administration while reducing the potential need for the use of opiates.</div>
          </td>
        </tr>

    </table>
    <div style="line-height: 1.25;">
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;"> <br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable">

          <tr>
            <td style="width: 42.95pt;"><br>
            </td>
            <td style="width: 12.6pt; vertical-align: top;">b.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>
                <div style="line-height: 1.25;">As a result of issues in the manufacturing process, the Company has decided to postpone the commencement of its planned Phase 3 clinical trial. The Company is currently investigating
                  these manufacturing issues and cannot predict the costs that may be incurred or the timeline for commencing the Phase 3 trial.</div>
              </div>
            </td>
          </tr>

      </table>
    </div>
    <br>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z6e357b012c2f4a1d8a94509b003abd79">

        <tr>
          <td style="width: 42.9pt;"><br>
          </td>
          <td style="width: 12.65pt; vertical-align: top;">c.</td>
          <td style="width: auto; vertical-align: top;">
            <div>Liquidity</div>
          </td>
        </tr>

    </table>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: -0.05pt; margin-right: 6.05pt; margin-left: 55.55pt; line-height: 1.25;">Since its inception, the Company has devoted substantially all of its efforts to research and development, clinical trials, and
      capital raising activities. The Company is still in its development and clinical stage and has not yet generated revenues.</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; margin-right: 6.1pt; margin-left: 55.55pt; line-height: 1.25;">
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">The Company has incurred losses of $5,626 and $5,513 for the nine months periods ended on September 30, 2022, and 2021, respectively and has negative cash outflow from
        operating activities. The Company expects to continue to incur losses and negative cash flows from operations until its product reaches profitability. As of September 30, 2022, the Company&#8217;s accumulated deficit was $29,353. The Company has funded
        its operations to date primarily through equity financing and has cash on hand (including short term deposits) of $12,956 as of September 30, 2022. Additional funding will be required to complete the Company&#8217;s research and development and clinical
        trials, to attain regulatory approvals, to begin the commercialization efforts of the Company&#8217;s product and to achieve a level of sales adequate to support the Company&#8217;s current and planned cost structure. The Company monitors its cash flow
        projections on a current basis and based on the Company's current operating plan, the Company believes that its existing capital resources will be sufficient to fund operations for at least twelve months after the date the financial statements are
        issued.</div>
    </div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z6c03732d5346462a8a1eea3e6ad7f865">

        <tr>
          <td style="width: 42.95pt;"><br>
          </td>
          <td style="width: 12.6pt; vertical-align: top;">d.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>In late 2019, a novel strain of COVID-19, was reported in Wuhan, China. While initially the outbreak was largely concentrated in China, it rapidly spread across the globe, including in Israel and the United States. The extent to which the
              COVID-19 pandemic impacts the Company&#8217;s operations will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the duration and severity of the outbreak, and the actions that may be
              required to contain the COVID-19 or treat its impact. Through the financial report approval date, November 14, 2022, the Company has not experienced a significant impact on its operations due to the COVID-19 pandemic.</div>
          </td>
        </tr>

    </table>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zaf4b3db56a6b4589891619d847a0baef">

        <tr>
          <td style="width: 42.95pt;"><br>
          </td>
          <td style="width: 12.6pt; vertical-align: top;">e.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>In April 2022, the Company's board of directors increased the number of reserved ordinary shares under the 2019 Plan by an additional amount of 1,000,000 ordinary shares. (Note 4b)</div>
          </td>
        </tr>

    </table>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z992524db004847019dbcdb0793a8ba1a">

        <tr>
          <td style="width: 42.95pt;"><br>
          </td>
          <td style="width: 12.6pt; vertical-align: top;">f.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>In April 2022, the Company issued 152,110 shares to a consultant pursuant to an agreement signed in August 2020. Since August 2020, the Company has recognized $857 ($309 for the nine months ended September 30, 2022) as share-based
              compensation expense related to the shares issued to the consultant.</div>
          </td>
        </tr>

    </table>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">F - 6</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="line-height: 1.25">&#160;
      <div style="text-align: right; margin-right: 6.1pt; line-height: 1.25; font-weight: bold;">PAINREFORM LTD.</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED)</div>
      <div style="line-height: 1.25">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
      <div style="line-height: 1.25;">
        <div>
          <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">U.S. dollars in thousands, except share and per share data</div>
          <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;"> <br>
          </div>
        </div>
      </div>
    </div>
    <div style="line-height: 1.25;"><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">NOTE 2:</font> <font style="font-weight: bold; font-family: 'Times New Roman',Times,serif;">UNAUDITED CONDENSED FINANCIAL STATEMENTS</font></div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; margin-right: 6pt; margin-left: 42.95pt; line-height: 1.25;">The unaudited condensed financial statements included herein have been prepared in accordance with accounting principles generally accepted in the United
      States (&#8220;U.S. GAAP&#8221;) and, on the same basis as the audited financial statements included in the Company&#8217;s Annual Report on Form 20-F for the fiscal year ended December 31, 2021 (the &#8220;2021 Form 20-F&#8221;).</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; margin-right: 6.1pt; margin-left: 42.95pt; line-height: 1.25;">Certain information and disclosures normally included in annual financial statements have been omitted in this interim period report pursuant to the rules
      and regulations of the Securities and Exchange Commission. Because the unaudited condensed financial statements do not include all of the information and disclosures required by U.S. GAAP for annual financial statements, they should be read in
      conjunction with the audited financial statements and notes included in the 2021 Form 20-F.</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; margin-right: 6.05pt; margin-left: 42.95pt; line-height: 1.25;">The year-end balance sheet data were derived from the audited financial statements as of December 31, 2021, but not all disclosures required by generally
      accepted accounting principles in the United States (&#8220;U.S. GAAP&#8221;) are included.</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; margin-right: 6.1pt; margin-left: 42.95pt; line-height: 1.25;">In the opinion of management, all adjustments (consisting only of normal recurring accruals) considered necessary for a fair statement of the Company&#8217;s
      financial position as of September 30, 2022 and its results of operations and cash flows for the nine months ended September 30, 2022 and 2021 have been included. Operating results for the nine months ended September 30, 2022, are not necessarily
      indicative of the results that may be expected for the year ending December 31, 2022 or any other interim period or for any other future year.</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25;"><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">NOTE 3:</font>&#160; <font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">SIGNIFICANT ACCOUNTING POLICIES</font></div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; margin-right: 6.05pt; margin-left: 42.95pt; line-height: 1.25;">The significant accounting policies that have been applied in the preparation of the unaudited condensed financial statements are identical to those that
      were applied in preparation of the Company&#8217;s most recent annual financial statements in connection with its Annual Report on Form 20-F, except for the following:</div>
    <div style="line-height: 1.25">&#160;</div>
    <div>
      <table cellspacing="0" cellpadding="0" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;" id="ze9232dd8f9f64631b453ade06caa277e" class="DSPFListTable">

          <tr style="vertical-align: top;">
            <td style="width: 45pt;">&#160;</td>
            <td style="vertical-align: top; width: 18pt;">
              <div style="text-align: justify; line-height: 1.25;">-</div>
            </td>
            <td style="align: left; vertical-align: top; width: auto;">
              <div style="text-align: justify; line-height: 1.25;">In August 2020, the FASB issued guidance ASU 2020-06 that is expected to reduce complexity and improve comparability of financial reporting associated with accounting for convertible
                instruments and contracts in an entity&#8217;s own equity. This guidance is effective for the Company from January 1, 2022 and did not have a material impact on the Company&#8217;s financial statements and disclosures.</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="line-height: 1.25">&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">F - 7</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: right; margin-right: 6.1pt; line-height: 1.25; font-weight: bold;">PAINREFORM LTD.</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED)</div>
    <div style="line-height: 1.25">
      <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
  </div>
  <div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">
      <div>
        <div style="line-height: 1.25; font-weight: bold;">U.S. dollars in thousands, except share and per share data</div>
      </div>
    </div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;"> <br>
    </div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">NOTE 4:&#160; SHAREHOLDERS&#8217; EQUITY</div>
    <div style="margin-right: 364.9pt; margin-left: 5.15pt; line-height: 1.25; font-weight: bold;"> <br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zdb71c32712e6489eaea082a887976903">

        <tr>
          <td style="width: 42.95pt;"><br>
          </td>
          <td style="width: 17.1pt; vertical-align: top;">a.</td>
          <td style="width: auto; vertical-align: top;">
            <div><u>Warrants and warrants units</u></div>
          </td>
        </tr>

    </table>
    <div style="line-height: 1.25">&#160;</div>
    <div style="margin-left: 42.95pt; line-height: 1.25;">The following table summarizes the warrants outstanding as of September 30, 2022:</div>
    <div style="line-height: 1.25">&#160;</div>
    <table cellspacing="0" cellpadding="2" border="0" align="right" style="width: 93%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;" id="z270757f55efb40dfbfb4f268e763c128">

        <tr>
          <td style="width: 28%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="margin-left: 1.1pt; line-height: 1.25; font-weight: bold;">Type</div>
          </td>
          <td style="width: 15%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="margin-left: 1.1pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Issuance Date</div>
          </td>
          <td style="width: 20.42%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; margin-left: 1.1pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Number of warrants</div>
          </td>
          <td style="width: 17.36%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; margin-left: 1.05pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Exercise price</div>
          </td>
          <td style="width: 21.37%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
            <div style="margin-left: 1.05pt; line-height: 1.25; font-weight: bold;">Exercisable through</div>
          </td>
        </tr>
        <tr>
          <td style="width: 28%; vertical-align: top; background-color: rgb(204, 238, 255); border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="margin-left: 1.1pt; line-height: 1.25;">August 2019 warrants</div>
          </td>
          <td style="width: 15%; vertical-align: top; background-color: rgb(204, 238, 255); border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="margin-left: 1.05pt; line-height: 1.25;">August 22, 2019</div>
          </td>
          <td style="width: 20.42%; vertical-align: top; background-color: rgb(204, 238, 255); border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; margin-right: 38pt; margin-left: 38.05pt; line-height: 1.25;">205,268</div>
          </td>
          <td style="width: 17.36%; vertical-align: top; background-color: rgb(204, 238, 255); border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">$6.72 (*)</div>
          </td>
          <td style="width: 21.37%; vertical-align: top; background-color: rgb(204, 238, 255); border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
            <div style="margin-left: 0.95pt; line-height: 1.25;">August 22, 2024</div>
          </td>
        </tr>
        <tr>
          <td style="width: 28%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="margin-left: 1.1pt; line-height: 1.25;">December 2019 warrants</div>
          </td>
          <td style="width: 15%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="margin-left: 1.15pt; line-height: 1.25;">December 9, 2019</div>
          </td>
          <td style="width: 20.42%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; margin-right: 37.95pt; margin-left: 38.1pt; line-height: 1.25;">148,106</div>
          </td>
          <td style="width: 17.36%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">$6.72 (*)</div>
          </td>
          <td style="width: 21.37%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
            <div style="margin-left: 1.05pt; line-height: 1.25;">December 8, 2024</div>
          </td>
        </tr>
        <tr>
          <td style="width: 28%; vertical-align: top; background-color: rgb(204, 238, 255); border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="margin-left: 1.1pt; line-height: 1.25;">Warrants to underwriters</div>
          </td>
          <td style="width: 15%; vertical-align: top; background-color: rgb(204, 238, 255); border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="margin-left: 1.15pt; line-height: 1.25;">September 3, 2020</div>
          </td>
          <td style="width: 20.42%; vertical-align: top; background-color: rgb(204, 238, 255); border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; margin-right: 37.9pt; margin-left: 38.1pt; line-height: 1.25;">125,000</div>
          </td>
          <td style="width: 17.36%; vertical-align: top; background-color: rgb(204, 238, 255); border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; margin-right: 32.25pt; margin-left: 32.299pt; line-height: 1.25;">$10.00</div>
          </td>
          <td style="width: 21.37%; vertical-align: top; background-color: rgb(204, 238, 255); border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
            <div style="margin-left: 1pt; line-height: 1.25;">September 1, 2025</div>
          </td>
        </tr>
        <tr>
          <td style="width: 28%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="margin-left: 1.1pt; line-height: 1.25;">Warrants to underwriters</div>
          </td>
          <td style="width: 15%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="margin-left: 1.15pt; line-height: 1.25;">October 5, 2020</div>
          </td>
          <td style="width: 20.42%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; margin-right: 37.9pt; margin-left: 38.1pt; line-height: 1.25;">375,000</div>
          </td>
          <td style="width: 17.36%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; margin-right: 32.2pt; margin-left: 32.299pt; line-height: 1.25;">$8.80</div>
          </td>
          <td style="width: 21.37%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
            <div style="margin-left: 1.05pt; line-height: 1.25;">September 3, 2025</div>
          </td>
        </tr>
        <tr>
          <td style="width: 28%; vertical-align: top; background-color: rgb(204, 238, 255); border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="margin-left: 1.1pt; line-height: 1.25;">IPO warrants</div>
          </td>
          <td style="width: 15%; vertical-align: top; background-color: rgb(204, 238, 255); border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="margin-left: 1.1pt; line-height: 1.25;">September 3, 2020</div>
          </td>
          <td style="width: 20.42%; vertical-align: top; background-color: rgb(204, 238, 255); border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">2,812,170</div>
          </td>
          <td style="width: 17.36%; vertical-align: top; background-color: rgb(204, 238, 255); border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; margin-right: 32.25pt; margin-left: 32.299pt; line-height: 1.25;">$8.80</div>
          </td>
          <td style="width: 21.37%; vertical-align: top; background-color: rgb(204, 238, 255); border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
            <div style="margin-left: 1pt; line-height: 1.25;">September 3, 2025</div>
          </td>
        </tr>
        <tr>
          <td style="width: 28%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="margin-left: 1.1pt; line-height: 1.25;">PIPE warrants</div>
          </td>
          <td style="width: 15%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="margin-left: 1.05pt; line-height: 1.25;">March 11, 2021</div>
          </td>
          <td style="width: 20.42%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">232,500</div>
          </td>
          <td style="width: 17.36%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; margin-right: 32.25pt; margin-left: 32.2pt; line-height: 1.25;">$4.60</div>
          </td>
          <td style="width: 21.37%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
            <div style="margin-left: 0.95pt; line-height: 1.25;">September 10, 2026</div>
          </td>
        </tr>
        <tr>
          <td style="width: 28%; vertical-align: top; background-color: rgb(204, 238, 255); border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="margin-right: 14.95pt; margin-left: 1.1pt; line-height: 1.25;">Warrants to PIPE placement agent</div>
          </td>
          <td style="width: 15%; vertical-align: top; background-color: rgb(204, 238, 255); border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="margin-left: 1.1pt; line-height: 1.25;">March 11,2021</div>
          </td>
          <td style="width: 20.42%; vertical-align: top; background-color: rgb(204, 238, 255); border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">52,173</div>
          </td>
          <td style="width: 17.36%; vertical-align: top; background-color: rgb(204, 238, 255); border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; margin-right: 32.25pt; margin-left: 32.25pt; line-height: 1.25;">$5.06</div>
          </td>
          <td style="width: 21.37%; vertical-align: top; background-color: rgb(204, 238, 255); border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
            <div style="margin-left: 1pt; line-height: 1.25;">March 8, 2026</div>
          </td>
        </tr>
        <tr>
          <td style="width: 28%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
            <div style="margin-left: 1.1pt; line-height: 1.25;">TOTAL</div>
          </td>
          <td style="width: 15%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 20.42%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
            <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">3,950,217</div>
          </td>
          <td style="width: 17.36%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0); text-align: center;">&#160;</td>
          <td style="width: 21.37%; vertical-align: top; border-width: 1px; border-style: solid; border-color: rgb(0, 0, 0);">&#160;</td>
        </tr>

    </table>
    <div style="line-height: 1.25; clear: both;">&#160;</div>
    <div style="margin-left: 42.95pt; line-height: 1.25;">(*) Each warrant is exercisable into one IPO unit consisting of one share and one IPO warrant with an exercise price of $8.80.</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">F - 8</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <br>
    <div style="text-align: right; margin-right: 6.1pt; line-height: 1.25; font-weight: bold;">PAINREFORM LTD.</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED)</div>
    <div style="line-height: 1.25">
      <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
    <div style="line-height: 1.25;">
      <div>
        <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">U.S. dollars in thousands, except share and per share data</div>
        <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;"> <br>
        </div>
      </div>
    </div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">NOTE 4:&#160; SHAREHOLDERS&#8217; EQUITY (Cont.)</div>
    <div style="line-height: 1.25">&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z13c9ff1a439740c09977421e8906b446">

        <tr>
          <td style="width: 41.9pt;"><br>
          </td>
          <td style="width: 17.5pt; vertical-align: top;">b.</td>
          <td style="width: auto; vertical-align: top;">
            <div><u>Share-based compensation</u>:</div>
          </td>
        </tr>

    </table>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; margin-left: 41.6pt; line-height: 1.25;">Share options outstanding and exercisable to employees and directors under the 2008 Plan as of September 30, 2022 and December 31, 2021 were as follows:</div>
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          <td valign="bottom" colspan="4" rowspan="1" style="vertical-align: top;"></td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top;">
            <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Weighted</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
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        <tr>
          <td valign="bottom" colspan="4" rowspan="1" style="vertical-align: top;"></td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top;">
            <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Weighted</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
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            <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">average</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
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        <tr>
          <td valign="bottom" colspan="4" rowspan="1" style="vertical-align: top;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top;">
            <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">average</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top;">
            <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">remaining</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
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        <tr>
          <td valign="bottom" style="vertical-align: top;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top;">
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top;">
            <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">exercise</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top;">
            <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">contractual</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
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        <tr>
          <td valign="bottom" style="vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; line-height: 1.25;"><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">options</font> </div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; line-height: 1.25;"><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">price</font> </div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; line-height: 1.25;"><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">life</font> </div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
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        <tr>
          <td valign="bottom" style="vertical-align: top; background-color: #CCEEFF; width: 64%; padding-bottom: 2px;">
            <div style="line-height: 1.25;">Options outstanding as of December 31, 2021</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;">
            <div style="line-height: 1.25;">153,882</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">
            <div style="line-height: 1.25;">$</div>
          </td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;">
            <div style="line-height: 1.25;">0.24</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;">
            <div style="line-height: 1.25;">2.25</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
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        <tr>
          <td valign="bottom" style="vertical-align: top; width: 64%;">
            <div style="line-height: 1.25;">Options granted</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
            <div style="line-height: 1.25;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
            <div style="line-height: 1.25;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
            <div style="line-height: 1.25;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; background-color: #CCEEFF; width: 64%;">
            <div style="line-height: 1.25;">Options exercised</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%;">
            <div style="line-height: 1.25;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%;">
            <div style="line-height: 1.25;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%;">
            <div style="line-height: 1.25;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 64%; padding-bottom: 2px;">
            <div style="line-height: 1.25;">Options forfeited</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; background-color: #CCEEFF; width: 64%; padding-bottom: 4px;">
            <div style="line-height: 1.25;">Options outstanding as of September 30, 2022</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;">
            <div style="line-height: 1.25;">153,882</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;">
            <div style="line-height: 1.25;">$</div>
          </td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;">
            <div style="line-height: 1.25;">0.24</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;">
            <div style="line-height: 1.25;">1.50</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 64%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; background-color: #CCEEFF; width: 64%; padding-bottom: 4px;">
            <div style="line-height: 1.25;">Options exercisable as of September 30, 2022</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;">
            <div style="line-height: 1.25;">153,882</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;">
            <div style="line-height: 1.25;">$</div>
          </td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;">
            <div style="line-height: 1.25;">0.24</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;">
            <div style="line-height: 1.25;">1.50</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
        </tr>

    </table>
    <div style="line-height: 1.25; clear: both;">&#160;</div>
    <div style="text-align: justify; margin-right: 6.05pt; margin-left: 43pt; line-height: 1.25;">Share options outstanding and exercisable to employees and directors under the 2019 Share Option Plan (the &#8220;2019 Plan&#8221;) as of September 30, 2022 and December
      31, 2021, were as follows:</div>
    <div style="line-height: 1.25">&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" align="right" class="cfttable" id="zfb94fafed8fd40c3bfde496d9c4a7d91" style="width: 93%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">

        <tr>
          <td valign="bottom" colspan="4" rowspan="1" style="vertical-align: top;"></td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top;">
            <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Weighted</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
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        <tr>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom;">&#160;</td>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
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            <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">average</div>
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          <td valign="bottom" colspan="4" rowspan="1" style="vertical-align: top;">&#160;</td>
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          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
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            <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">average</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
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            <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">remaining</div>
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          <td valign="bottom" style="vertical-align: top;">&#160;</td>
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          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
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            <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">exercise</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
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          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
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            <div style="text-align: center; line-height: 1.25;"><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">options</font> </div>
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          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
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            <div style="text-align: center; line-height: 1.25;"><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">price</font> </div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; line-height: 1.25;"><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">life</font> </div>
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          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">&#160;</td>
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            <div style="line-height: 1.25;">971,476</div>
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          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">
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            <div style="line-height: 1.25;">4.51</div>
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          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">&#160;</td>
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            <div style="line-height: 1.25;">8.72</div>
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          <td valign="bottom" style="vertical-align: top; width: 64%;">
            <div style="line-height: 1.25;">Options granted</div>
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          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
            <div style="line-height: 1.25;">164,455</div>
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          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
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            <div style="line-height: 1.25;">1.06</div>
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          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
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            <div style="line-height: 1.25;">9.54</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
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          <td valign="bottom" style="vertical-align: top; background-color: #CCEEFF; width: 64%;">
            <div style="line-height: 1.25;">Options exercised</div>
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          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%;">
            <div style="line-height: 1.25;">-</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%;">
            <div style="line-height: 1.25;">-</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%;">
            <div style="line-height: 1.25;">-</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">&#160;</td>
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            <div style="line-height: 1.25;">Options forfeited</div>
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          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25;">-</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25;">-</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25;">-</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
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            <div style="line-height: 1.25;">Options outstanding as of September 30, 2022</div>
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          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;">
            <div style="line-height: 1.25;">1,135,931</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;">
            <div style="line-height: 1.25;">$</div>
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          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;">
            <div style="line-height: 1.25;">4.01</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;">
            <div style="line-height: 1.25;">8.84</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
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          <td valign="bottom" style="vertical-align: top; width: 64%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; background-color: #CCEEFF; width: 64%; padding-bottom: 4px;">
            <div style="line-height: 1.25;">Options exercisable as of September 30, 2022</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;">
            <div style="line-height: 1.25;">560,831</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;">
            <div style="line-height: 1.25;">$</div>
          </td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;">
            <div style="line-height: 1.25;">4.11</div>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px;">
            <div style="line-height: 1.25;">7.72</div>
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    <div style="line-height: 1.25; clear: both;">&#160;</div>
    <div style="text-align: justify; margin-right: 6.05pt; margin-left: 42.95pt; line-height: 1.25;">
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">In April 2022, the Company&#8217;s board of directors approved the grant of options to purchase 164,455 ordinary shares of the Company to employees. The options were granted under
        the Company's 2019 plan. The fair value of share options granted was estimated using the Black Scholes option-pricing model, which requires a number of assumptions, of which the most significant are the expected share price, volatility, and the
        expected option term. The options vest over a four-year period, 4/16 of the options shall vest following the lapse of a period of twelve months commencing at the date of grant. The remaining 12/16 of the options shall vest on quarterly basis, so
        that 1/16 of the options shall vest on the expiry of each quarter. The weighted average grant date fair value per option was $0.89.</div>
    </div>
    <div style="line-height: 1.25">&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">F - 9</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="line-height: 1.25;">
      <div style="text-align: right; margin-right: 6.1pt; line-height: 1.25; font-weight: bold;">PAINREFORM LTD.</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED)</div>
      <div style="line-height: 1.25">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">
        <div>
          <div>
            <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">U.S. dollars in thousands, except share and per share data</div>
          </div>
        </div>
      </div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
    </div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">NOTE 4:&#160; SHAREHOLDERS&#8217; EQUITY (Cont.)</div>
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    <div style="margin-left: 42.95pt; line-height: 1.25;">The following table summarizes information about share options that were granted in 2022 as part of the 2019 plan:</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="line-height: 1.25;">
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            <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" style="text-align: center; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2" rowspan="1"> 2022</td>
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            <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">$</td>
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            <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">6.12</td>
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            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
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              <div>%</div>
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            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
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              <div>%</div>
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            <td valign="bottom" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
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            <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">$</td>
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    </div>
    <div style="margin-right: 6pt; margin-left: 42.95pt; line-height: 1.25;">Basic loss per share is computed by dividing the loss for the period applicable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the
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    </div>
    <div style="margin-left: 42.95pt; line-height: 1.25;">For the periods ended September 30, 2022 and 2021, all outstanding share options and warrants have been excluded from the calculation of the diluted net loss per share as all such securities are
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    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
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    <div style="line-height: 1.25">&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" align="right" class="cfttable" id="z363fb969ab414317879c7fa2d460b8f3" style="width: 93%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">

        <tr>
          <td valign="bottom" colspan="1" rowspan="1" style="vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="6" rowspan="1" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); text-align: center; font-weight: bold;">Nine months ended September 30, <br>
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          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
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        <tr>
          <td valign="bottom" colspan="1" rowspan="2" style="vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-weight: bold; text-align: center;"> 2022</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">2021</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; background-color: #CCEEFF; width: 76%;">
            <div style="line-height: 1.25;">Bank fees</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%;">
            <div style="line-height: 1.25;">(9</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">
            <div style="line-height: 1.25;">)</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%;">
            <div style="line-height: 1.25;">(6</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;">
            <div style="line-height: 1.25;">)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%;">
            <div style="line-height: 1.25;">Income from deposits</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
            <div style="line-height: 1.25;">65</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
            <div style="line-height: 1.25;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">
            <div style="line-height: 1.25;">Exchange rate differences</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25;">(69</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">
            <div style="line-height: 1.25;">)</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25;">(40</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">
            <div style="line-height: 1.25;">)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 76%; padding-bottom: 4px;">
            <div style="line-height: 1.25;">Total financial expenses, net</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">
            <div style="line-height: 1.25; font-weight: bold;">$</div>
          </td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
            <div style="line-height: 1.25; font-weight: bold;">(13</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;">
            <div style="line-height: 1.25; font-weight: bold;">)</div>
          </td>
          <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
          <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">
            <div style="line-height: 1.25; font-weight: bold;">$</div>
          </td>
          <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
            <div style="line-height: 1.25; font-weight: bold;">(46</div>
          </td>
          <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;">
            <div style="line-height: 1.25; font-weight: bold;">)</div>
          </td>
        </tr>

    </table>
    <div style="line-height: 1.25; clear: both;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25">&#160;</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">F - 10</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <br>
    <div style="line-height: 1.25;">
      <div style="text-align: right; margin-right: 6.1pt; line-height: 1.25; font-weight: bold;">PAINREFORM LTD.</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED)</div>
      <div style="line-height: 1.25">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
      <div style="line-height: 1.25;">
        <div>
          <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">U.S. dollars in thousands, except share and per share data</div>
          <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;"> <br>
          </div>
        </div>
      </div>
    </div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;"> NOTE 7:&#160; COMMITMENTS AND CONTINGENCIES</div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;"> <br>
    </div>
    <div style="text-align: justify; margin-right: 7.05pt; margin-left: 45.05pt; line-height: 1.25;">On November 13, 2020, the Company entered into a Master Clinical Research Organization Agreement (the "First Agreement"), and on December 3, 2020, the
      Company entered into a Master Clinical Trial Agreement (the "Second Agreement") both with Lotus Clinical Research as the Company's clinical research organization for the Company's planned Phase 3 trial of PRF-110, which was expected to commence in
      the fourth quarter of 2022, but has been postponed due to issues in the manufacturing process ( note 9) .</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-indent: -0.05pt; margin-right: 12.2pt; margin-left: 45.1pt; line-height: 1.25;">Under the First Agreement, the Company paid the first milestone of $581 on December 28, 2020, and paid an additional milestone of $581 during the first
      nine months of 2021. In addition, the Company paid a non-refundable deposit of $710 under the Second Agreement in January 2021.</div>
    <div style="text-indent: -0.05pt; margin-right: 12.2pt; margin-left: 45.1pt; line-height: 1.25;"> <br>
    </div>
    <div style="margin-left: 45.1pt; line-height: 1.25;">As of September 30, 2022, the Company accounted for these amounts of net $1,728 as prepaid clinical trial expense and deferred clinical trial costs after recognition of $144 clinical trials expenses
      in 2021.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="line-height: 1.25;"><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">NOTE 8:</font>&#160; <font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">FINANCIAL INSTRUMENTS</font></div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; margin-left: 45.1pt; line-height: 1.25;">The carrying amount of cash equivalents, restricted cash, trade payables and accrued expenses approximate their fair value due to their short-term characteristics.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="line-height: 1.25;"><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">NOTE 9:</font>&#160; <font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">SUBSEQUENT EVENTS</font></div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; margin-right: 7.2pt; margin-left: 45.05pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">As a result of issues in the manufacturing process, the Company has decided to postpone the commencement of its
      planned Phase 3 clinical trial. See note 1b.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25; text-align: center;"><font class="BRPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">F - 11</font>
      <hr style="border-width: 1px medium 4px; border-style: solid none; border-color: black -moz-use-text-color; -moz-border-top-colors: none; -moz-border-right-colors: none; -moz-border-bottom-colors: none; -moz-border-left-colors: none; border-image: none; height: 10px; color: rgb(255, 255, 255); background-color: rgb(255, 255, 255); margin-left: auto; margin-right: auto;"></div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: center; margin-right: 167.7pt; margin-left: 166.85pt; line-height: 1.25;"><br>
    </div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
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<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>exhibit_99-2.htm
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
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    <div style="text-align: right; line-height: 1.25; font-weight: bold;"><u>Exhibit 99.2</u></div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">OPERATING AND FINANCIAL REVIEW AND PROSPECTS</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; text-indent: 27pt; line-height: 1.25; font-style: italic;">You should read the following selected financial data and discussion of our operating and financial condition and prospects in conjunction with the financial
      statements and the notes thereto included elsewhere in this 6-K. Our financial statements are prepared in accordance with U.S. GAAP, and reported in U.S. dollars. We maintain our accounting books and records in U.S. dollars and our functional
      currency is the U.S. dollar. Certain amounts presented herein may not sum due to rounding. Unless the context requires otherwise, references in this report to &#8220;PainReform,&#8221; the &#8220;Company,&#8221; &#8220;we,&#8221; &#8220;us&#8221; and &#8220;our&#8221; refer to PainReform Ltd, an Israeli
      company. &#8220;NIS&#8221; means New Israeli Shekel, and &#8220;$,&#8221; &#8220;US$,&#8221;&#8220;U.S. dollars&#8221; and &#8220;USD&#8221; mean United States dollars.</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25; font-weight: bold;">Forward Looking Statements</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The following discussion contains &#8220;forward-looking statements,&#8221; including statements regarding expectations, beliefs, intentions or strategies for the future. These statements may
      identify important factors which could cause our actual results to differ materially from those indicated by the forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking
      statements. Factors that could cause our actual results to differ materially from those expressed or implied in such forward-looking statements include, but are not limited to:</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">&#9679;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;our history of losses and needs for&#160; additional capital to fund our operations and our ability to obtain additional capital on acceptable terms, or at all;</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">&#9679;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;our dependence on the success of our initial product candidate, PRF-110;</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">&#9679;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the outcomes of preclinical studies, clinical trials and other research regarding PRF-110 and future product candidates;</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">&#9679;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the impact of the COVID-19 pandemic on our operations;</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">&#9679;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;our limited experience managing clinical trials;</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">&#9679;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;our ability to retain key personnel and recruit additional employees;</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">&#9679;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;our reliance on third parties for the conduct of clinical trials, product manufacturing and development;</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">&#9679;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the impact of competition and new technologies;</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">&#9679;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;our ability to comply with regulatory requirements relating to the development and marketing of our product candidates;</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">&#9679;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;our ability to establish and maintain strategic partnerships and other corporate collaborations;</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">&#9679;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the implementation of our business model and strategic plans for our business and product candidates;</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">&#9679;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the scope of protection we are able to establish and maintain for intellectual property rights covering our product candidates and our ability to operate our business without infringing
      the intellectual property rights of others;</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">&#9679;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the overall global economic environment;</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">&#9679;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;our ability to develop an active trading market for our ordinary shares and whether the market price of our ordinary shares is volatile; and</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">&#9679;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;statements as to the impact of the political and security situation in Israel on our business.</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;All forward-looking statements attributable to us or persons acting on our behalf speak only as of the date of the 6-K to which this discussion is attached and are expressly qualified in
      their entirety by the cautionary statements included herein. We undertake no obligations to update or revise forward-looking statements to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated
      events. In evaluating forward-looking statements, you should consider these risks and uncertainties.</div>
    <div style="text-align: justify; line-height: 1.25;"> <br>
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
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    </div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25; font-weight: bold;">Overview</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">We are a clinical stage specialty pharmaceutical company focused on the reformulation of established therapeutics.&#160; Our proprietary extended release drug-delivery system is
      designed to provide an extended period of post-surgical pain relief without the need for repeated dose administration while reducing the potential need for the use of opiates.&#160; Our strategy is to incorporate generic drugs with our proprietary
      extended release drug-delivery system in order to create extended release drug products and to take advantage of the 505(b)(2) regulatory pathway created by the U.S. Food and Drug Administration, or FDA.&#160; The 505(b) (2) new drug application, or NDA,
      process, provides for FDA approval of a new drug based in part on data that was developed by others, including published literature references and data previously reviewed by the FDA in its approval of a separate application.&#160; Using this pathway can
      significantly reduce the time and costs associated with clinical development.&#160; PRF-110, our first product, is based on the local anesthetic ropivacaine, targeting the post-operative pain relief market.&#160; PRF-110 is an oil-based, viscous, clear
      solution that is deposited directly into the surgical wound bed prior to closure to provide localized and extended post-operative analgesia.</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">
      <div style="text-indent: 36pt; line-height: 1.25;">We have been preparing for the launch
          of our two Phase 3 clinical trials of PRF-110, one for the treatment of patients undergoing bunionectomy and the other for the treatment of hernia repair operations.&#160;As previously announced, we recently encountered issues in the manufacturing process of PRF-110 and as a result delayed the commencement of our Phase 3
          clinical trial. We expect to provide near-term updates on the manufacturing process and timeline for commencing the Phase 3 trial.</div>
    </div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Since our inception in November 2007, we have devoted substantially all of our efforts to organizing and planning our business, building our management and technical team,
      developing our proprietary drug delivery system and PRF-110, and raising capital.</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">
      <div style="text-indent: 36pt; line-height: 1.25;">In December 2019, a novel strain of coronavirus, COVID-19, was identified in Wuhan, China. Initially the outbreak
        was largely concentrated in China, but it rapidly spread to countries across the globe, including in Israel and the United States. The spread of COVID-19 has resulted in the World Health Organization declaring the outbreak of COVID-19 as a
        &#8220;pandemic,&#8221; or a worldwide spread of a new disease. Many countries around the world, including Israel and the United States, have imposed quarantines and restrictions on travel and mass gatherings to slow the spread of the virus. While the spread
        of COVID-19 has not yet directly impacted our operations, the spread of COVID-19 may result in the inability of our outside scientific collaborators, suppliers, consultants, advisors and other third parties to work with us on a timely basis and
        will likely impact the timing of the initiation of our planned clinical studies and the enrollment of patients. The extent to which COVID-19 impacts our development efforts will depend on future developments, which are highly uncertain and cannot
        be predicted, including new information which may emerge concerning the severity of COVID-19 and the actions to contain COVID-19 or treat its impact, among others.</div>
    </div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">We expect to continue to incur significant expenses and increasing losses for next several years. Our net losses may fluctuate significantly from period to period, depending on the
      timing of our planned clinical trials and expenditures on our other research and development and commercial development activities. We expect our expenses will increase substantially over time as we:</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">&#8226;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;continue the ongoing and planned preclinical and clinical development of our drug candidates;</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">&#8226;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;build a portfolio of drug candidates through the acquisition or in-license of drugs, drug candidates or technologies;</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">&#8226;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;initiate preclinical studies and clinical trials for any additional drug candidates that we may pursue in the future;</div>
    <div style="text-align: justify; line-height: 1.25;"> <br>
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageBreak" style="page-break-after: always;">
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    </div>
    <div style="text-align: justify; line-height: 1.25;"> <br>
    </div>
    <div style="line-height: 1.25;">&#8226;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;seek marketing approvals for our current and future drug candidates that successfully complete clinical trials;</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25;">&#8226;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;establish a sales, marketing and distribution infrastructure to commercialize any drug candidate for which we may obtain marketing approval;</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25;">&#8226;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;develop, maintain, expand and protect our intellectual property portfolio;</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25;">&#8226;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;implement operational, financial and management systems; and</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25;">&#8226;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;attract, hire and retain additional administrative, clinical, regulatory and scientific personnel.</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25; font-weight: bold;">Financial Operations Overview</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25; font-weight: bold;">Revenue</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">We have not generated any revenue and do not expect to generate any revenue unless or until we obtain regulatory approval of and commercialize one or more of our current or future
      drug candidates. In the future, we may also seek to generate revenue from a combination of research and development payments, license fees and other upfront or milestone payments.</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25; font-weight: bold;">Research and Development Expenses</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Research and development expenses consist primarily of costs incurred for our research activities, which include, among other things:</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">&#9679;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;employee-related expenses, including salaries, benefits and stock-based compensation expense;</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">&#9679;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;fees paid to consultants for services directly related to our drug development and regulatory effort;</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">&#9679;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;expenses incurred under contract manufacturing organizations, as well as contract manufacturing organizations and consultants that conduct preclinical studies and clinical trials;</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">&#9679;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;costs associated with development activities;</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">&#9679;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;costs associated with technology and intellectual property licenses; and</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">&#9679;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;milestone payments and other costs under licensing agreements.</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Costs incurred in connection with research and development activities are expensed as incurred. Costs for certain development activities, such as clinical trials, are recognized
      based on an evaluation of the progress to completion of specific tasks using data such as patient enrollment, clinical site activations or other information provided to us by our vendors.</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
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    </div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Research and development activities are and will continue to be central to our business model. We expect our research and development expenses to increase for the foreseeable
      future as we advance our current and future drug candidates through preclinical studies and clinical trials. The process of conducting preclinical studies and clinical trials necessary to obtain regulatory approval is costly and time-consuming. It is
      difficult to determine with certainty the duration and costs of any preclinical study or clinical trial that we may conduct. The duration, costs and timing of clinical trial programs and development of our current and future drug candidates will
      depend on a variety of factors that include, but are not limited to, the following:</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">&#9679;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;number of clinical trials required for approval and any requirement for extension trials;</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">&#9679;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;per patient trial costs;</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">&#9679;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;number of patients that participate in the clinical trials;</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">&#9679;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;number of sites included in the clinical trials;</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">&#9679;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;countries in which the clinical trial is conducted;</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">&#9679;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;length of time required to enroll eligible patients;</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">&#9679;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;potential additional safety monitoring or other studies requested by regulatory agencies; and</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">&#9679;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;efficacy and safety profile of the drug candidate.</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">In addition, the probability of success for any of our current or future drug candidates will depend on numerous factors, including competition, manufacturing capability and
      commercial viability. We will determine which programs to pursue and how much to fund each program in response to the scientific and clinical success of each drug candidate, as well as an assessment of each drug candidate&#8217;s commercial potential.</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25; font-weight: bold;">General and Administrative Expenses</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">General and administrative expenses consist primarily of employee-related expenses, including salaries, benefits and share-based compensation. Other general and administrative
      expenses include directors&#8217; and officers&#8217; liability insurance premiums, costs associated with being a publicly traded company, fees associated with investor relations, professional fees for consultants, tax and legal services and facility-related
      costs.</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">We expect that general and administrative expenses will increase in the future as we expand our operating activities and incur additional costs. In addition, if our current or
      future drug candidates are approved for sale, we expect that we would incur expenses associated with building our commercial and distribution infrastructure.</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25; font-weight: bold;">Financial Expenses, Net</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">
      <div style="text-indent: 36pt; line-height: 1.25;">Financial expenses, net, primarily consists of bank management fees and commissions and exchange rate differences
        expenses.</div>
    </div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25; font-weight: bold;">Results of Operations</div>
    <div style="text-indent: 36pt; line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; text-indent: 27pt; line-height: 1.25;"><font style="font-style: italic;">Research and development expenses.</font>&#160;Research and development expenses were $2.5 million for the nine months ended September 30, 2022
      compared to $2.3 million for the nine months ended September 30, 2021, an increase of $0.2 million. The increase was primarily due to an increase in chemistry and manufacturing controls&#160;(CMC) activities and preparation for the initiation of clinical
      trials.</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; text-indent: 27pt; line-height: 1.25;">
      <div style="text-indent: 27pt; line-height: 1.25;"><font style="font-style: italic;">General and
          administrative expenses.</font>&#160;General and administrative expenses were $3.1 million for the nine months ended September 30, 2022 compared to $3.2 for the nine months ended September 30, 2021, an immaterial&#160; increase of $0.1 million. The
        increase was primarily due to an increase in certain professional services costs.</div>
    </div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; text-indent: 27pt; line-height: 1.25;">
      <div style="text-indent: 27pt; line-height: 1.25;"><font style="font-style: italic;">Financial expense,
          net</font>. Financial expense, net was $13,000 for the nine months ended September 30, 2022 compared to financial expenses, net of $46,000 for the nine months ended September 30, 2021, a decrease of $33,000 million. The decrease was primarily due
        to a decrease in exchange rate differences expenses that was offset with financial income from bank deposits.</div>
    </div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
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    </div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; text-indent: 27pt; line-height: 1.25;"><font style="font-style: italic;">Net loss</font>. As a result of the foregoing, we incurred a net loss of $5.6 million for the nine months ended September 30, 2022 compared to a
      net loss of $5.5 million for the nine months ended September 30, 2021, an increase of $0.1 million.</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25; font-weight: bold;">Liquidity and Capital Resources</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">
      <div style="text-indent: 36pt; line-height: 1.25;">Since our inception through September 30, 2022, we have funded our operations primarily through proceeds from our
        initial public offering and private placements. As of September 30, 2022, we had an accumulated deficit of approximately $29.4 million, cash and cash equivalents and short term bank deposits&#160; of $12.9 million and a positive working capital of $13.6
        million.</div>
    </div>
    <div style="line-height: 1.25;"><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Developing drugs, conducting clinical trials and commercializing products is expensive and we will need to raise substantial additional funds to achieve our strategic objectives.
      We believe our existing financial resources as of the date of issuance of this Form 6-K, will be sufficient to fund our operating expenses and capital expenditure requirements for at least 12 months from the date of the date of issuance of this Form
      6-K. Our estimate as to how long we expect our funds to support our operations is based on assumptions that may prove to be wrong, and we could use our available capital resources sooner than we currently expect. Further, changing circumstances, some
      of which may be beyond our control, could cause us to consume capital significantly faster than we currently anticipate, and we may need to seek additional funds sooner than planned. Our future capital requirements will depend on many factors,
      including:</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">&#9679;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the scope, progress, results and costs of our current and future clinical trials of PRF-110 for our current targeted uses;</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">&#9679;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the costs, timing and outcome of regulatory review of PRF-110;</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">&#9679;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the extent to which we acquire or invest in businesses, products and technologies, including entering into or maintaining licensing or collaboration arrangements for PRF-110 on favorable
      terms, although we currently have no commitments or agreements to complete any such transactions;</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">&#9679;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the costs and timing of future commercialization activities, including drug sales, marketing, manufacturing and distribution, for any of our product candidates for which we receive
      marketing approval, to the extent that such sales, marketing, manufacturing and distribution are not the responsibility of any collaborator that we may have at such time;</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">&#9679;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the amount of revenue, if any, received from commercial sales of PRF-110, should it receive marketing approval;</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">&#9679;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the costs of preparing, filing and prosecuting patent applications, maintaining, defending and enforcing our intellectual property rights and defending intellectual property-related
      claims;</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">&#9679;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;our headcount growth and associated costs as we expand our business operations and our research and development activities;</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">&#9679;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the costs of operating as a public company;</div>
    <div style="text-align: justify; line-height: 1.25;"> <br>
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25;">&#9679;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;maintaining minimum shareholders&#8217; equity requirements under the Nasdaq rules; and</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25;">&#9679;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the impact of the COVID-19 pandemic.</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">We expect our expenses to increase in connection with our planned operations. Until such time, if ever, as we can generate substantial revenues, we expect to finance our cash needs
      through a combination of equity offerings, debt financings, collaborations, strategic alliances and/or licensing arrangements. To the extent that we raise additional capital through the sale of equity or convertible debt securities, your ownership
      interest may be diluted, and the terms of these securities could include liquidation or other preferences and anti-dilution protections that could adversely affect your rights as a shareholder. In addition, debt financing, if available, would result
      in fixed payment obligations and may involve agreements that include restrictive covenants that limit our ability to take specific actions, such as incurring additional debt, making capital expenditures, creating liens, redeeming shares or declaring
      dividends, that could adversely impact our ability to conduct our business. In addition, securing financing could require a substantial amount of time and attention from our management and may divert a disproportionate amount of their attention away
      from day-to-day activities, which may adversely affect our management&#8217;s ability to oversee the development of our product candidates.</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">If we raise additional funds through collaborations, strategic alliances or licensing arrangements with third parties, we may have to relinquish valuable rights to our technology,
      future revenue streams or product candidates or grant licenses on terms that may not be favorable to us. If we are unable to raise additional funds when needed, we may be required to delay, reduce and/or eliminate our product candidate development or
      future commercialization efforts or grant rights to develop and market product candidates that we would otherwise prefer to develop and market ourselves.</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; text-indent: 27pt; line-height: 1.25; font-style: italic; font-weight: bold;">Cash Flows</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-indent: 36pt; line-height: 1.25;">The following table sets forth the major components of our statements of cash flows for the periods presented (U.S. dollars in thousands):</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" id="zff3ea6ede643413aa0f33475588e79d4" class="cfttable">

        <tr>
          <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="2">
            <div style="text-align: center; line-height: 1.25; font-weight: bold;">Nine months<br>
              Ended</div>
            <div style="text-align: center; line-height: 1.25; font-weight: bold;">September 30,</div>
            <div style="text-align: center; line-height: 1.25; font-weight: bold;">2022</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="2">
            <div style="text-align: center; line-height: 1.25; font-weight: bold;">Nine months<br>
              Ended</div>
            <div style="text-align: center; line-height: 1.25; font-weight: bold;">September 30,</div>
            <div style="text-align: center; line-height: 1.25; font-weight: bold;">2021</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; background-color: #CCEEFF; width: 76%;">
            <div style="line-height: 1.25;">Net cash used in operating activities</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">
            <div style="line-height: 1.25;">$</div>
          </td>
          <td valign="bottom" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="line-height: 1.25;">(3,591</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
            <div style="line-height: 1.25;">)</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">
            <div style="line-height: 1.25;">$</div>
          </td>
          <td valign="bottom" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="line-height: 1.25;">(4,782</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
            <div style="line-height: 1.25;">)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%;">
            <div style="line-height: 1.25;">Net cash used in investing activities</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="line-height: 1.25;">(6,034</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
            <div style="line-height: 1.25;">)</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="line-height: 1.25;">(22</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
            <div style="line-height: 1.25;">)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; background-color: #CCEEFF; width: 76%;">
            <div style="line-height: 1.25;">
              <div style="line-height: 1.25;">Net cash provided by financing activities</div>
            </div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="line-height: 1.25;">-</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="line-height: 1.25;">7,484</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%;">
            <div style="line-height: 1.25;">Increase (decrease) in cash and cash equivalents and restricted cash</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="line-height: 1.25;">(9,625</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
            <div style="line-height: 1.25;">)</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="line-height: 1.25;">2,680</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; background-color: #CCEEFF; width: 76%;">
            <div style="line-height: 1.25;">Cash and cash equivalents and restricted cash, at the beginning of year</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="line-height: 1.25;">16,571</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" style="background-color: #CCEEFF; vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="line-height: 1.25;">15,690</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="background-color: #CCEEFF; vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; width: 76%;">
            <div style="line-height: 1.25;">Cash and cash equivalents and restricted cash, at September 30, 2022</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">
            <div style="line-height: 1.25;">$</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="line-height: 1.25;">6,946</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">
            <div style="line-height: 1.25;">$</div>
          </td>
          <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="line-height: 1.25;">18,370</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
        </tr>

    </table>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25; font-style: italic;">Net cash used in operating activities</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">For the nine months ended September 30, 2022 and 2021, net cash used in operating activities was $3.6&#160;million and $4.8&#160; million respectively. The decrease was mainly due to an
      increase in trade payable and a decrease of current assets.</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25; font-style: italic;">Net cash used in investing activities</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">
      <div style="text-indent: 36pt; line-height: 1.25;">For the nine months ended September 30, 2022, net cash used in investing activities was $6 million, compared to an
        immaterial amount in the nine months ended September 2021. The increase was due to an investment in short term bank deposits.</div>
    </div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25; font-style: italic;">Net cash provided by financing activities</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">
      <div style="text-indent: 36pt; line-height: 1.25;">For the nine months ended September 30, 2022, net cash provided by financing activities was none, compared to $7.5
        million in the nine months ended September 2021 due to proceeds from the March 2021 private placement and from warrants exercised in July 2021.</div>
    </div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25; font-weight: bold;">Trend Information.</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">We are a development stage company and it is not possible for us to predict with any degree of accuracy the outcome of our research, development or commercialization efforts. As
      such, it is not possible for us to predict with any degree of accuracy any significant trends, uncertainties, demands, commitments or events that are reasonably likely to have a material effect on our net sales or revenues, income from continuing
      operations, profitability, liquidity or capital resources, or that would cause financial information to not necessarily be indicative of future operating results or financial condition. However, to the extent possible, certain trends, uncertainties,
      demands, commitments and events are identified in the preceding subsections.</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25; font-weight: bold;">Off-Balance Sheet Arrangements.</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">We did not have during the periods presented, and we do not currently have, any off-balance sheet arrangements, as defined in the rules and regulations of the SEC.</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25; font-weight: bold;">Critical Accounting Policies and Judgments and Estimates</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Our statements are prepared in accordance with GAAP. Some of the accounting methods and policies used in preparing our financial statements under GAAP are based on complex and
      subjective assessments by our management or on estimates based on past experience and assumptions deemed realistic and reasonable based on the circumstances concerned. The actual value of our assets, liabilities and shareholders&#8217; equity and of our
      accumulated deficit could differ from the value derived from these estimates if conditions change and these changes had an impact on the assumptions adopted. See Note 3 to the accompanying financial statements.</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;"> <br>
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25;">
      <div style="line-height: 1.25; font-weight: bold;">OTHER INFORMATION</div>
      <div style="line-height: 1.25;">&#160;</div>
      <div style="line-height: 1.25;">
        <div style="line-height: 1.25; font-weight: bold;">Changes in Internal Control over Financial Reporting</div>
        <div style="line-height: 1.25;">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">As previously disclosed, during the quarter ended June 30, 2022, we identified a material weakness in our
          internal control over financial reporting relating to a cybersecurity incident that resulted in us transferring an amount of $165,000 to a fictitious vendor.&#160; In response, to the incident, we implemented certain changes to our internal control
          procedures with respect to payments to suppliers that seek to provide alternate bank account information to us, updated our information technology procedures and hired the services of a cybersecurity consultant to assist with implementing a range
          of steps to enhance our security protections in order to prevent future cybersecurity incidents. In addition, we have enhanced our organizational awareness of cybersecurity, our information security and our vendor/payment validation procedures
          within our organization.&#160; As a result, we believe we have put in place the proper policies, procedures and controls to remediate the material weakness.</div>
      </div>
      <div style="line-height: 1.25;"> <br>
      </div>
    </div>
    <div style="line-height: 1.25;">
      <div style="text-align: justify; line-height: 1.25; font-weight: bold;">Risk Factors</div>
    </div>
    <div style="line-height: 1.25;">
      <div style="line-height: 1.25;">&#160;</div>
    </div>
    <div style="line-height: 1.25;">
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">In addition to the other information set forth in this report, you should carefully consider the risk factors described in the section titled &#8220;Risk Factors&#8221; in our Annual Report
        on Form 20-F as filed with the SEC on March 16, 2022 (the &#8220;2021 Annual Report&#8221;).</div>
    </div>
    <div style="line-height: 1.25;">
      <div style="line-height: 1.25;">&#160;</div>
    </div>
    <div style="line-height: 1.25;">
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">There have been no material changes from the risk factors previously disclosed in our 2021 Annual Report, except as noted below and in our Form 6-K furnished to the Securities
        and Exchange Commission on August 15, 2022.</div>
    </div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25; font-style: italic; font-weight: bold;">The price of our ordinary shares does not meet the requirements for continued listing on Nasdaq. If we fail to regain compliance with the
      minimum listing requirements, our ordinary shares will be subject to delisting. Our ability to publicly or privately sell equity securities and the liquidity of our ordinary shares could be adversely affected if our ordinary shares is delisted.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 30.6pt; line-height: 1.25;">The continued listing standards of Nasdaq require, among other things, that the minimum bid price of a listed company&#8217;s stock be at or above $1.00. If the closing minimum bid
      price is below $1.00 for a period of more than 30 consecutive trading days, the listed company will fail to be in compliance with Nasdaq&#8217;s listing rules and, if it does not regain compliance within the grace period, will be subject to delisting. As
      previously reported, on August 16, 2022, we received a notice from the Nasdaq Listing Qualifications Department notifying us that for 30 consecutive trading days, the bid price of our ordinary shares had closed below the minimum $1.00 per share
      requirement. In accordance with Nasdaq&#8217;s listing rules, we were afforded a grace period of 180 calendar days, or until February 6, 2023, to regain compliance with the bid price requirement. In order to regain compliance, the bid price of ordinary
      shares must close at a price of at least $1.00 per share for a minimum of 10 consecutive trading days.&#160;</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 30.6pt; line-height: 1.25;">If we fail to regain compliance by February 6, 2023, we may be eligible for a second 180 day compliance period if we elect to transfer to The Nasdaq Capital market, provided
      that, on such date, we meet the continued listing requirement for market value of publicly held shares and all other applicable Nasdaq listing requirements (other than the minimum closing bid price requirement) and we provide written notice to Nasdaq
      of our intention to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary. Such extension of the grace period would be subject to Nasdaq&#8217;s discretion, and there can be no guarantee that we would be
      granted an extension.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 30.6pt; line-height: 1.25;">We cannot provide any guarantee that we will regain compliance during the grace period or be able to maintain compliance with Nasdaq&#8217;s listing requirements in the future. If we
      are not able to regain compliance during the grace period, or any extension of the grace period for which we may be eligible, our ordinary shares will be subject to delisting. Delisting from Nasdaq could adversely affect our ability to raise
      additional financing through the public or private sale of equity securities, would significantly affect the ability of investors to trade our securities and would negatively affect the value and liquidity of our ordinary shares. Delisting could also
      have other negative results, including the potential loss of confidence by employees, the loss of institutional investor interest and fewer business development opportunities.</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="line-height: 1.25">&#160;
      <hr align="center" style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;"></div>
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