Company: CERO
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044335
Chunk: 104

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 2
Chunk 104
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ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULTS OF OPERATIONS

The following Management’s Discussion
and Analysis of Financial Condition and Results of Operations provides information that CERo Therapeutics Holdings, Inc. (“the Company”)
management believes is relevant to an assessment and understanding of its results of operations and financial condition. The discussion
should be read together with (i) the Company’s unaudited condensed consolidated financial statements and related notes that are
presented above and (ii) the Company’s audited consolidated financial statements and related notes and management’s discussion and
analysis of financial condition and results of operations included in the Company’s Annual Report on Form 10-K for the year ended December
31, 2024 filed with the Securities and Exchange Commission (the “SEC”) on April 15, 2025. This Management’s Discussion
and Analysis of Financial Condition and Results of Operations may contain forward-looking statements based upon current expectations that
involve risks and uncertainties. Actual results may differ materially from those anticipated in these forward-looking statements resulting
from various factors. Please see “Cautionary Note Regarding Forward Looking Statements” and “Risk Factors” in
the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 and the subsequent Quarterly Report on Form 10-Q as
filed with the SEC. Unless the context otherwise requires, references in this section to “Predecessor” is intended to mean
the business and operations of CERo Therapeutics, Inc. prior to the Merger.

Overview

CERo Therapeutics, Inc. (the
“Predecessor”) was incorporated in Delaware on September 23, 2016, and is based in South San Francisco, California. Predecessor
was focused on developing its therapeutic platform to genetically engineer human immune cells to fight cancer and did not begin 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.

On June 4, 2023, Predecessor
entered into a Business Combination Agreement (as amended by that certain Amendment No. 1 to the Business Combination Agreement, dated
as of February 5, 2024 and Amendment No. 2 to the Business Combination Agreement, dated as of February 13, 2024, the “Business Combination
Agreement”) by and among PBAX and PB