Company: TELO
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-023970
Chunk: 60

Company: Telomir Pharmaceuticals, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 2
Chunk 60
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 as expense over the
requisite service periods using the straight-line method. The Company has elected to account for forfeiture of stock-based awards as
they occur.

Results
of Operations

For
the three and six months ended June 30,
2025 compared to the three and six months ended June 30,
2024

Research
and Development Expenses. During the three months ended June 30, 2025, we incurred $0.04 million
in research and development expenses, and incurred $0.6 million in research and development expenses during the three months ended June
30, 2024. The main driver in the decrease year over year relates to receipt of a credit during the second quarter of 2024 from
Frontage Laboratories in connection with a study we performed during that period.

During
the six months ended June 30, 2025, we incurred $0.4 million in research and development expenses, and incurred $1.4 million in research
and development expenses during the six months ended June 30, 2024. The
main driver in the decrease year over year relates to a credit during the second quarter of 2024 from Frontage Laboratories in connection
with a study we performed during that period. Additionally, the Company incurred costs during that period in 2024 in connection with
certain pharmaceutical manufacturing activities and studies that were not performed in 2025.

Since
inception, we have not earned any revenue, nor do we anticipate doing so until we successfully conclude preclinical and clinical development
and obtain regulatory approval. The timing and certainty of this event remain unknown.

15

Our
operating expenses have historically been the costs associated with our initial investment in pre-clinical research and development activities.
We expect research and development expenses to increase in the future as we advance TELOMIR-1 into and through clinical trials and pursue
regulatory approvals, which will require a significant investment in costs of clinical trials, regulatory support, and contract manufacturing.
In addition, we will evaluate opportunities to acquire or in-license additional product candidates and technologies, which may result
in higher research and development expenses due to license fee and/or milestone payments, as well as added clinical development costs.

General
and Administrative Expenses. We incurred $5.0 million and $0.9 million in general and administrative
expenses during the three months ended June 30, 2025 and 2024, respectively. The increase is primarily due to an increase in stock compensation
expense of $