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Revelation Biosciences Inc. (REVB+1.33%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's focus on developing therapies using its proprietary Gemini formulation. The company is advancing programs for the prevention and treatment of acute kidney injury (GEM-AKI), chronic kidney disease (GEM-CKD), and post-surgical infection (GEM-PSI).
Revelation reported a net loss of $15,038,536 for the year ended December 31, 2024, compared to a net loss of $120,254 for the previous year. The increase in net loss is attributed to higher research and development expenses and other operating costs.
Research and development expenses for the year were $3,548,996, a decrease from $4,145,902 in 2023. This decrease was primarily due to lower manufacturing and other program expenses, partially offset by increased clinical study and personnel expenses.
General and administrative expenses were $4,426,113 in 2024, slightly down from $4,510,762 in 2023. The decrease was mainly due to reduced legal and professional fees, offset by higher personnel expenses.
The company raised $12,847,764 in net proceeds through various financing activities, including a public offering and warrant exercises. As of December 31, 2024, Revelation had cash and cash equivalents of $6,499,018.
Revelation's management has expressed substantial doubt about the company's ability to continue as a going concern, citing the need for additional capital to sustain operations beyond one year.
The filing also notes recent developments, including a 1-for-16 reverse stock split and compliance with Nasdaq's minimum bid price requirement.
Revelation's strategy involves advancing its clinical programs and seeking additional funding through public or private equity or debt financings to support its operations and development efforts.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Revelation Biosciences Inc. annual 10-K report dated March 6, 2025. To report an error, please email earnings@qz.com.