As an early-stage company, MeaTech does not currently generate revenues and does not expect to generate any revenue from operations in the near term while it develops its products.
R&D expenses for 2020 totaled $2.5 million, compared to $0.2 million in 2019, reflecting a rapid expansion of the scope of MeaTech's research and development abilities.
Total operating expenses in 2020 reached $18.5 million, compared to $0.4 million in 2019.
Public listing expenses which did not affect cash flow were recorded in 2020 in the amount of $10.2 million in connection with MeaTech's reverse merger into a TASE-traded shell company.
Net loss for 2020 net was $18.5 million, or $0.30 per ordinary share, compared to $0.4 million, or $0.02 per ordinary share, in 2019. The increase was mainly the result of the public listing expenses and increased operating expenses incurred as MeaTech expanded its cultured meat technology development.
Cash and equivalents at year-end 2020 increased to $13.5 million, compared to $1.2 million at year-end 2019.
Total assets increased to $17.4 million at year-end 2020, up from $1.9 million at year-end 2019.M
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