Company: CERO
Filing Date: 2025-02-07
Form Type: 424B3
Source: 0001213900-25-011071
Chunk: 231

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-02-07
Form: 424B3
Chunk 231
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 of $5.7 million. The increase in the nine-month period ended September 30, 2024, over the
nine-month period ended September 30, 2023, was predominantly due to a $1.8 million expense consisting of the remaining underwriting
fees from the PBAX initial public offering, which were earned on the consummation of the business combination. Additionally, the hiring
of senior management in G&A resulted in an increase of $1.6 million, including recruiting fees. Legal fees increased $0.8 million
and business consulting increased $0.3 million in the nine-month period ended September 30, 2024, versus the nine-month period ended
September 30, 2023. Expenses related to services required for SEC compliance, such as printing and transfer agency fees, increased $0.4
million and public company insurance coverage increased insurance expenses $0.4 million in the nine-month period ended September 30,
2024, compared to the nine-month period ended September 30, 2023. Corporate communications and director fees each increased $0.2 million
in the nine-month period ended September 30, 2024 compared to the nine-month period ended September 30, 2023. The additional expenses
are all driven by the increased expenses of operational compliance as a public company.

Research and Development Expenses

Research and development
expenses were $6.2 million for the nine-month period ended September 30, 2024, compared to $4.3 million for the nine-month period ended
September 30, 2023, reflecting an increase of $1.9 million. The increase was related to increased R&D activity as the Company prepared
and filed the IND for CER-1236, prepared for the clinical trial initiation, and conducted additional experiments in response to the FDA
questions related to the IND. Compensation increased $0.1 million, clinical expenses increased $0.2 million, and consulting expenses
increased $0.9 million in the nine-month period ended September 30, 2024, due to activities related to the preparation of the IND and
responses to questions from FDA, and preparation for the anticipated clinical trial for CER-1236. To complete the IND application, multiple
manufacturing runs were necessary, increasing manufacturing costs by $0.2 million in the nine-month period ended September 30, 2024,
versus the nine-month period ended September 30, 2023