Company: RVRC
Filing Date: 2025-10-03
Form Type: S-1/A
Source: 0001213900-25-096094
Chunk: 70

Company: Revium Rx.
Filing Date: 2025-10-03
Form: S-1/A
Chunk 70
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4        |           For the 
 period commencing 
         January 1 |     | year ended   
 December 31, 
 2023         | For the |   |
|:------------------------------------|:----|:-------------|-----------:|:--|:----|:------------|------------------:|:----|:-------------|--------:|:--|
| Operating expenses                  |     |              |            |   |     |             |                   |     |              |         |   |
| Research and development expenses   |     |              |        996 |   |     |             |             1,162 |     |              |     846 |   |
| General and administrative expenses |     |              |      1,153 |   |     |             |               257 |     |              |     156 |   |
| Operating loss                      |     |              |      2,149 |   |     |             |             1,419 |     |              |   1,002 |   |
| Financial income, net               |     |              |        (65 | ) |     |             |                 2 |     |              |     (15 | ) |
| Net loss and comprehensive loss     |     |              |      2,084 |   |     |             |             1,421 |     |              |     987 |   |

| *) | less than 1 thousand |

We have prepared our discussion of the results
of operations by comparing the results of the combined Successor period from July 24, 2024 through December 31, 2024 and from January
1, 2024 through July 23, 2024 the Predecessor period for the years ended December 31, 2023 and December 31, 2022.

We believe this approach provides the most meaningful
basis of comparison and is more useful in identifying current business trends for the periods presented. The combined results of operations
included in our discussion below are not considered to be prepared in accordance with U.S. GAAP and have not been prepared as pro forma
results under applicable regulations, may not reflect the actual results we would have achieved had the Business Combination occurred
at the beginning of fiscal 2024, and should not be viewed as a substitute for the results of operations of the Predecessor and Successor
periods presented in accordance with U.S. GAAP.

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Comparison of