Company: REVB
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0000950170-25-034584
Chunk: 173

Company: REVELATION BIOSCIENCES, INC.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1B
Chunk 173
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 2024. The decrease was primarily due to decreases of $2.1 million in other program expenses and $0.3 million in manufacturing expenses, offset by increases of $1.5 million in clinical study expenses related to GEM-AKI, GEM-CKD and GEM-PSI and $0.5 million in personnel expenses. Other program expenses include pre-clinical costs and clinical preparation costs primarily for programs GEM-AKI, GEM-CKD and GEM-PSI.

 64

General and Administrative Expenses

The following table summarizes our general and administrative expenses for the periods presented:

    Year EndedDecember 31,

    2024

    2023

    Change

    Personnel expenses (including employee stock-based compensation)
     
    $
    2,768,602

    $
    2,272,005

    $
    496,597

    Legal and professional fees

    1,274,567

    1,844,077

    (569,510
    )

    Other expenses

    382,944

    394,680

    (11,736
    )

    Total general and administrative expenses
     
    $
    4,426,113

    $
    4,510,762

    $
    (84,649
    )

General and administrative expenses decreased by $0.1 million, from $4.5 million for the year ended December 31, 2023 to $4.4 million for the year ended December 31, 2024. The decrease was primarily due to a decrease of $0.6 million in legal and professional fees, offset by an increase of $0.5 million in personnel expenses.

Other (Expense) Income, Net

Other (expense) income, net was $8,536,410 for the year ended December 31, 2023, related to the change in fair value of the warrant liability, foreign currency transaction gains and losses, and interest income from our cash balances in savings accounts. Other (expense) income, net was ($7,063,427) for the year ended December 31, 2024, primarily related to the LifeSci Capital LLC judgment expense and reimbursement of legal costs, clinical trial related settlement expenses with A-IR Clinical Research Ltd. and expenses in connection with the deferred underwriting commissions, offset by interest income from our cash balances in savings accounts.

Liquidity and Capital Resources

Since