Company: CERO
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032134
Chunk: 2561

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 6
Chunk 2561
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 full immune repertoire to achieve optimized cancer
therapy. The Company has not yet begun clinical development or product commercialization. The Company’s efforts will focus on continued
product development, including clinical development, to support regulatory approval to commercialize and subsequent product commercialization.

In November 2024, the U.S.
Food and Drug Administration (“FDA”) cleared the Company’s Investigational New Drug Application for Phase 1 clinical
trials of its lead compound, CER-1236, in acute myelogenous leukemia.

Going concern – The accompanying
consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the
realization of assets and satisfaction of liabilities in the normal course of business. The Company’s ability to continue as a going
concern is dependent on its ability to raise additional capital to fund its research and development (“R&D”) activities
and meet its obligations on a timely basis. As of December 31, 2024, the Company reported $3.3 million of cash and cash equivalents, with
an accumulated deficit of $70.9 million. On February 5, 2025, we entered into a securities purchase agreement (the “SPA”),
with participation from a member of the Company’s board of directors and a single institutional investor, for the purchase and sale
of (i) 2,551,020 shares of our common stock or common stock equivalents in lieu thereof; and (ii) common warrants to purchase up to 2,551,020
shares of common stock, at a combined public offering price of $1.96 per share and Warrant. In connection with this offering, we received
net proceeds of approximately $4.5 million. Additionally, since December 31, 2024, we received net proceeds from the exercise of the remaining
Series A Preferred Warrants, the collection of subscriptions receivable and ELOC fundings of approximately $2.5 million. Additional funds
are necessary to maintain current operations and to continue R&D activities. However, there can be no assurance that sufficient funding
will be available to allow the Company to successfully continue its R&D activities and planned regulatory filings with the FDA. If
the Company is unable to obtain the necessary funds, significant reductions in spending and the delay or cancellation of planned activities
may be necessary. These actions would have a material adverse effect on the Company’s business, results of operations, and prospects.
These conditions raise substantial doubt about the Company’s ability to continue