Company: TELO
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-023970
Chunk: 22

Company: Telomir Pharmaceuticals, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 1
Chunk 22
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We expect research and development expenses to increase in the future as we advance TELOMIR-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 $5.0 million and $0.9 million in general and administrative
expenses during the three months ended June 30, 2025 and 2024, respectively. The increase is primarily due to an increase in stock compensation
expense of $4.6 million related to Company management and employees.

We
incurred $6.9 million and $1.6 million in general and administrative expenses during the six months ended June 30, 2025 and 2024, respectively.
The increase is primarily due to an increase in stock compensation expense of $6.0 million related to Company management and employees.

Related
Party Travel Costs. We did not incur any related party travel costs during the three or six months ended June 30, 2025. The Company incurred $0.4 million during the six month period ended
June 30, 2024 in connection with the lease of and use of an airplane with an entity under common control. The
Company has not  participated 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 six months ended June 30, 2025 relating primarily to money
market interest. We incurred $4.3 million in interest expense during the six months ended June 30, 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 of credit with a major
shareholder and an affiliated company, through a $1.0 million private placement of shares of our common stock that occurred during the
first quarter 2023 at $3.73 per share