Company: OCEA
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-011080
Chunk: 192

Company: Ocean Biomedical, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 8
Chunk 192
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 growth company,
we are dependent on outside capital in order to advance our research and development programs, operate our business, and meet our future
obligations as they come due. Our current operating plan indicates that we will incur losses from operations and generate negative cash
flows from operating activities, given anticipated expenditures related to research and development activities we lack revenue generating
ability at this point in our lifecycle. These events and conditions raise substantial doubt about our ability to continue as a going concern.

We will seek additional funding
through private equity financings, debt financings, collaborations, strategic alliances, marketing, distribution, or licensing arrangements.
There is no assurance that we will be successful in obtaining additional financing on terms acceptable to us, if at all, and we may not
be able to enter into collaborations or other arrangements. If we are unable to obtain funding, we could be forced to delay, reduce, or
eliminate our research and development programs, which could adversely affect our business prospects and our ability to continue operations.

42

Funding Requirements

We expect our expenses to increase
substantially in connection with our ongoing activities, particularly as we advance the preclinical activities and clinical trials of
our product candidates. In addition, we will incur additional ongoing costs associated with operating as a public company, including significant
legal, accounting, compliance, investor relations and other expenses that we did not incur as a private company. The timing and amount
of our operating expenditures will depend on our ability to:

    ●
    advance preclinical development of our early-stage programs;

    ●
    manufacture, or have manufactured on our behalf, our preclinical and clinical drug material and develop processes for late state and commercial manufacturing;

    ●
    Obtain regulatory approvals for any product candidates that successfully complete clinical trials;

    ●
    establish a sales, marketing and distribution infrastructure to commercialize our product candidates for which we may obtain marketing approval and intend to commercialize on our own;

    ●
    hire additional clinical, quality control and scientific personnel;

    ●
    expand our operational, financial and management systems and increase personnel, including personnel to support our research and clinical development, manufacturing and commercialization efforts and our operations as a public company; and 

    ●
    obtain, maintain, expand and protect our intellectual property portfolio.

We will require additional capital
as we seek regulatory approval of our product candidates and if we choose to pursue in-licenses or acquisitions of other product candidates.
If we receive regulatory approval for our product candidates, we expect to