Company: PFSA
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112723
Chunk: 268

Company: Profusa, Inc.
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 2
Chunk 268
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    2025  
    2024  
    $  
    % 
  
    Revenue 
    $—  
    $100  
    $(100) 
     (100)%
  
    Operating expenses: 

    Research and development 
    $1,549  
    $1,349  
    $200  
     0 
  
    General and administrative 
     22,587  
     2,169  
     20,418  
     941%
  
    Total operating expenses 
     24,136  
     3,518  
     20,618  
     586%
  
    Loss from operations 
     (24,136) 
     (3,418) 
     (20,718) 
     606%

    Other income (expense) 

    Loss on change in the fair value of related party convertible debt 
     (52) 
     (427) 
     375  
     -88%
  
    Interest expense 
     (2,496) 
     (3,138) 
     642  
     -20%
  
    Gain on change in fair value of warrant liabilities 
     884  
     —  
     884  
     100%
  
    Loss on change in fair value of digital assets 
     (28) 
     —  
     (28) 
     100%
  
    Financing costs 
     (1,443) 
     —  
     (1,443) 
     100%
  
    Other income 
     15  
     5  
     10  
     200%
  
    Total other expense, net 
     (3,120) 
     (3,560) 
     440  
     -12%
  
    Net loss 
    $(27,256) 
    $(6,978) 
    $(20,278) 
     291%

Research and Development – Research and development expenses
increased by $200 thousand, or 15%, to $1,549 thousand during the nine months ended September 30, 2025 from $1,349 thousand during the
nine months ended September 30, 2024. The increase was driven primarily by the increase in regulatory and CRO costs of $300 thousand,
plus