Company: REVB
Filing Date: 2025-05-23
Form Type: S-1/A
Source: 0001213900-25-047104
Chunk: 216

Company: REVELATION BIOSCIENCES, INC.
Filing Date: 2025-05-23
Form: S-1/A
Chunk 216
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                                    |     |              |     — | % |     |     |        — | % |

Significant components of the
Company’s deferred tax assets are as follows:

|                                            |     | Year Ended   
 December 31, |        2024 |   |     |   |        2023 |   |
|:-------------------------------------------|:----|:-------------|------------:|:--|:----|:--|------------:|:--|
| Net operating loss carryforwards           |     | $            |  10,949,394 |   |     | $ |   7,281,811 |   |
| Research and development credits           |     |              |     446,160 |   |     |   |     370,145 |   |
| Capitalized research and development costs |     |              |   2,122,632 |   |     |   |   1,716,037 |   |
| Capitalized start-up costs                 |     |              |     922,340 |   |     |   |     799,367 |   |
| Other, net                                 |     |              |     478,830 |   |     |   |     336,564 |   |
| Total gross deferred tax assets            |     |              |  14,919,356 |   |     |   |  10,503,924 |   |
| Valuation allowance                        |     |              | (14,919,356 | ) |     |   | (10,503,924 | ) |
| Net deferred tax assets                    |     | $            |           — |   |     | $ |           — |   |

As of December 31, 2024
and 2023, a full valuation allowance of $ and $, respectively, was established against its deferred tax assets due
to the uncertainty surrounding the realization of such assets. The valuation allowance increased by $ and $ in 2024
and 2023, respectively, due to the increase in the deferred tax assets by the same amount; primarily due to net operating loss carryforwards
and the mandatory capitalization of qualified research and development expenses in 2023.

F-25 REVELATION BIOSCIENCES, INC.
Notes to the Consolidated Financial Statements 11. Income Taxes(cont.) As of December 31, 2024, the Company had federal and state net operating loss carryforwards of $