Company: TELO
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010298
Chunk: 17

Company: Telomir Pharmaceuticals, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Item 8
Chunk 17
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MIR-1 into and through clinical trials and pursue
regulatory approvals, which will require a significant investment in costs of clinical trials, regulatory support, and contract manufacturing.
In addition, we will evaluate opportunities to acquire or in-license additional product candidates and technologies, which may result
in higher research and development expenses due to license fee and/or milestone payments, as well as added clinical development costs.

General
and Administrative Expenses. We incurred $1.9 million and $0.7 million in general and
administrative expenses during the three months ended March 31, 2025 and 2024, respectively. The increase is primarily due to an
increase in stock compensation expense of $1.4 million related to Company management and employees, insurance costs of $0.1 million,
wage expense of $0.2 million, and legal, accounting, and filing fees of $0.2 million. General and administrative expenses
consist of administrative functions, as well as fees paid for legal, consulting fees and facilities costs not otherwise included in
research and development expenses. Legal costs include general corporate legal fees and license costs. We expect to incur additional
expenses as a result of becoming a public company, including expenses related to compliance with the rules and regulations of the
SEC and Nasdaq, additional insurance, investor relations and other administrative expenses and professional services.

Related
Party Travel Costs. We
did not incur any related party travel costs during the three months ended March 31, 2025. We incurred $0.4 million during the same period
ended March 31, 2024 in connection with the lease of and use of an airplane with an entity under common control. The
Company will not participate in the use of the airplane after March of 2024 and, pursuant to the terms of the agreement, constitutes
no further obligation under the agreement.

Interest
income (expense). We earned $0.01 million in interest income during the three months ended March 31, 2025 relating primarily to money
market interest. We incurred $4.3 million in interest expense during the three months ended March 31, 2024. The 2024 interest expense
consists of the amortization of the deferred financing costs on warrants issued on the related party line of credit that is no longer
open.

Liquidity
and Capital Resources

Sources
of Liquidity

Since
the Company’s inception in August 2021, we have financed our operations primarily through an unsecured line