Company: TELO
Filing Date: 2025-02-04
Form Type: 10-K
Source: 0001493152-25-004872
Chunk: 511

Company: Telomir Pharmaceuticals, Inc.
Filing Date: 2025-02-04
Form: 10-K
Item: Item 1A
Chunk 511
---
aceuticals, Inc.

notes
to the financial statements

DECEMBER
31, 2024 and  2023

Note
1. Description of business and summary of significant accounting policies

Overview

Telomir
Pharmaceuticals, Inc. (“Telomir” or the “Company”) was formed in August 2021 and is a Florida incorporated pre-clinical
stage biopharmaceutical company that is developing its licensed product candidate, Telomir-1, a novel small molecule designed to lengthen
the DNA’s protective telomere caps, which are crucial in the aging process. The Company’s goal is to explore the potential
of Telomir-1 starting with ongoing research in animals and then in humans.

Telomeres
are the protective end caps of a chromosome made up of DNA sequences and proteins. As humans age, telomeres shorten, with metal reactivity
accelerating the process, which presents humans and pet animals with an increased chance of contracting a number of degenerative and
age-related diseases. Telomir’s goal is to develop and gain regulatory approval for Telomir-1, proposed to be dosed orally, with
the broader aim of promoting longevity and enhancing overall quality of life.

Substantive
operations began in late 2022 and the Company’s initial Investigative New Drug (“IND”) application is anticipated to
be filed with the U.S. Food and Drug Administration (“FDA”) in second half of 2025. National phase filings are expected to
be made during the first quarter of 2026.

As
 used herein, the Company’s common stock, no par value per share, is referred to as the “Common Stock” and the
Company’s preferred stock, no par value per share, is referred to as the “Preferred Stock”.

Reverse Stock Split

Effective December 11, 2023, the Company completed
a reverse stock split of its outstanding common stock upon the filing of the Company’s Second Amended and Restated Articles of Incorporation
with the Florida Secretary of State. No fractional shares were or will be issued in connection with the reverse stock split, and all such
fractional shares resulting from the reverse stock split were and will be rounded up to the nearest whole number. The shares issuable
upon the exercise of our outstanding warrants, and the exercise price of such warrants, have been adjusted to reflect the reverse stock
split. Unless otherwise noted, all share and per share information in this