Note 1 - General

Chemomab Therapeutics Ltd. (the “Company”) is an Israeli-based company incorporated under the laws of the State of Israel in September 2011. The Company’s registered office is located in Kiryat Atidim, Tel Aviv, Israel. The Company is a clinical-stage biotech company discovering and developing innovative therapeutics for conditions with high-unmet medical need that involve inflammation and fibrosis. The wholly owned subsidiaries of the Company are: Chemomab Ltd. (“Chemomab”), Chemomab Therapeutics Israel Ltd. and Chemomab Therapeutics Inc.

The accompanying interim condensed financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities in the normal course of business; however, as of June 30, 2026, the Company has incurred recurring losses from operations of approximately $116 million, experienced negative cash flows from operating activities of $3.7 million for the six months then ended, and currently has no products approved for sale. While the Company’s cash, cash equivalents, and short-term deposits of $6.7 million as of June 30, 2026, are sufficient to meet planned expenditures for a period of less than 12 months, these indicators raise substantial doubt about its ability to continue as a going concern. Consequently, the Company will be required to raise additional funds to support its operations, and although management believes such funds can be raised, there can be no assurance that these efforts will be successful or sufficient, and the financial statements do not include any adjustments that might result from the outcome of this uncertainty accompanying interim condensed financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities in the normal course of business.

Note 1 - General

The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities in the normal course of business. However, the Company has incurred accumulated losses from operations as of December 31, 2025 of approximately $112 million and negative cash flows from operating activities in 2025 of $11.1 million with currently no products approved for sale.

As of December 31, 2025, the Company had cash, cash equivalents, and short-term deposits of $10.4 million. The Company’s current cash resources are sufficient to meet its planned expenditures through the end of the first quarter of 2027. These conditions raise substantial doubt about its ability to continue as a going concern. The Company will be required to raise additional funds to support its operations and continue as a going concern. While management believes that the Company can raise additional funds, there can be no assurance that these efforts will be successful or sufficient.

The financial statements do not include any adjustments that might result from the outcome of this raise.