Company: TELO
Filing Date: 2025-11-28
Form Type: PRER14A
Source: 0001493152-25-025406
Chunk: 226

Company: Telomir Pharmaceuticals, Inc.
Filing Date: 2025-11-28
Form: PRER14A
Chunk 226
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cline-derived), and |

| ▪ | It                                   
 has publicly available pricing data. |

Our Price Benchmark for the breast cancer treatment is Liposomal Doxorubicin (Anthracycline, liposomal formulation of doxorubicin). Doxil is a version of the chemotherapy medication doxorubicin that is covered in a protective coating, which allows it to avoid destruction by the body’s immune system and remain in the body for a longer amount of time. As a result, Doxil has more time to reach the tumor tissue, where the medication is then slowly released. Doxorubicin liposomal interferes with the growth of cancer cells and slows their spread in the body by inhibiting DNA synthesis and causing the production of harmful free radicals.

According to Drugs.com price-guide, one listing shows: for DOXIL (doxorubicin liposomal) 2 mg/mL: a 10 mL vial (20 mg) listed at US $320.63. And for a 25 mL vial (50 mg) ~ US $1,652.83 at one snapshot 16.

For modeling a full treatment course: suppose a patient of body surface area (BSA) 1.8 sqm receives the standard 50 mg/sqm, that’s 90 mg each cycle (50 ×1.8). That might equate to roughly two 50 mg vials (or one 100 mg equivalent) each cycle. If each 50 mg vial costs $1,650 (per above), two vials $3,300 per cycle. If treatment continues for, say, 6 cycles, $19,800 in drug cost alone.

We assumed 2 cycles for stage I Breast cancer meaning a total treatment list price of $6,600, 4 cycles for stage IIBreast cancer (total treatment list price of $13,220) and 6 cycles for stage III total treatment list price of $19,800.

16 https://www.drugs.com/price-guide/doxil

| Moore Financial Consulting |

| Telomir Pharmaceuticals, Inc.Valuation | November 2025Page 24 of 24 |

Annex D

| Fairness Opinion | November 2025 |

19/11/2025

To: Telomir Pharmaceuticals,
Inc. & TELI Pharmaceuticals, Inc.

Dear Sirs,

You have requested our opinion
as to the fairness, from a financial point of view, to Telomir Pharmaceuticals, Inc. (“TE