Company: CERO
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112619
Chunk: 306

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-11-19
Form: 10-Q
Item: Item 2
Chunk 306
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 a Nasdaq hearings panel (a “Hearings Panel”) that we had regained compliance with such requirements. Accordingly,
pursuant to Nasdaq Rule 5815(d)(4)(B), we are subject to a mandatory hearings panel monitor until one year after regaining compliance
with such requirements. As a result, Nasdaq staff lack the discretion to grant us a cure period for demonstrating regaining compliance
with the Stockholders’ Equity Requirement. The Nasdaq staff indicated that our securities would be suspended from trading on Nasdaq
and delisted on September 8, 2025, subject to our right to appeal described below.

On September 3, 2025, we
requested a hearing to appeal such determination before the Hearings Panel. The hearing request stayed the suspension of the trading of
our Common Stock and delisting thereof pending such hearing or any extension provided by the Hearings Panel. The hearing was held on October
14, 2025.

On October 29, 2025, we received the determination
of the Nasdaq Hearings Panel (the “Panel”) to deny our request to continue the listing of our shares of common stock on Nasdaq
and that the trading in our securities would be suspended at the open of trading on October 31, 2025. We submitted a request for review
of the Panel’s decision by the Nasdaq Listing and Hearing Review Council. On October 31, 2025, the Company’s shares of common
stock have commenced trading on the OTC Pink Sheets.

Results of Operations

Revenue

Predecessor and the Company
have not recognized any revenue from any sources, including from product sales, and the Company does not expect to generate any revenue
from the sale of products in the foreseeable future. If the development efforts for the Company’s product candidates, each of which
is a specific product and indication combination, are successful and result in regulatory approval, or if the Company executes license
agreements with third parties, the Company may generate revenue from R&D services, from the achievement of development milestones
or from milestones and royalties related to product sales. However, there can be no assurance as to when any revenues will be generated,
if at all.

Operating Expenses

Research and Development Expenses

R&D expenses consist
of discovery activities, manufacturing development and production, preclinical and clinical development, and regulatory filing for product
candidates. R&D expenses are recognized as incurred and payments made prior to the receipt of goods or services to be used in R