Company: BFRG
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001641172-25-009946
Chunk: 49

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-05-13
Form: 10-Q
Item: Item 8
Chunk 49
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 Company
to analyze these rich data sets using its proprietary AI/ML tools and models and then go to market with the discoveries with the ultimate
goal of securing revenue generating strategic partnership deals with biopharmaceutical companies. We intend to secure the rights to other
proprietary data sets and repeat this strategy. Additionally, we intend to gain access to later-stage clinical assets through partnerships
or the acquisition of rights to failed therapeutic candidates for drug rescue. In certain circumstances, we intend to conduct late-stage
clinical trials in an effort to rescue therapeutic assets that previously failed. In these cases, there will be a requirement for drug
supply and regulatory services to conduct clinical trials. The success of our clinical development programs will require finding partners
to support the clinical development, adequate availability of raw materials and drug product for our research and development and clinical
trials, and, in some cases, may also require the establishment of third-party arrangements to obtain finished drug product that is manufactured
appropriately under good manufacturing practices, and packaged for clinical use or sale. Since we are a company focused on using our
AI/ML technology to advance medicines, any clinical development programs will also require, in all cases, partners and the establishment
of third-party relationships for execution and completion of clinical trials.

Since
completing our initial public offering in February 2023 (the “IPO”), aided by the receipt of the IPO proceeds in addition
to the proceeds from our February 2024 and October 2024 offerings, we have implemented several initiatives including: investor relations
and marketing to raise awareness for the Company in the financial and business sectors, research and development, collaboration with
the J Craig Venter Institute (“JCVI”), and initiation of preclinical studies with our in-licensed drug programs. The Company
is actively engaged in developing and pursuing new intellectual property as it strives to continuously evolve its AI/ML platform.

Internally,
the Company has added incremental staff to accelerate execution and development of processes and custom scripts for use in performing
new drug target discovery and analytical services for customers, while also launching initiatives targeting large public health data
sources and seeking access to proprietary health data sources, such as our agreement with the LIBD. We are also transitioning our accounting
and financial reporting systems and processes to enhance our internal control environment as a public company. Capital from the IPO was
also used to retire two notes that were sold to fund the Company through the IPO as well as other debts accrued over time to our staff,
employees and consultants,