Company: CERO
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032134
Chunk: 243

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 243
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 and will
be able to take advantage of these scaled disclosures for so long as our Common Stock held by non-affiliates is less than $250.0 million
measured on the last business day of our second fiscal quarter, or our annual revenue is less than $100.0 million during the most recently
completed fiscal year and our Common Stock held by non-affiliates is less than $700.0 million measured on the last business day of our
second fiscal quarter.

88

Our operating results may fluctuate significantly,
which makes future operating results difficult to predict and could cause operating results to fall below expectations or guidance.

Our operations to date have
been primarily limited to researching and developing our product candidates. We have not yet obtained regulatory approvals for any of
its product candidates. Consequently, any predictions you make about our future success or viability may not be as accurate as they could
be if we had a longer operating history or approved products on the market.

Our quarterly and annual
operating results may fluctuate significantly in the future, which makes it difficult for us to predict future operating results. From
time to time, we may enter into license or collaboration agreements with other companies that include development funding and significant
upfront and milestone payments and/or royalties, which may become an important source of our revenue. Accordingly, our revenue may depend
on development funding and the achievement of development and clinical milestones under current and any potential future license and collaboration
agreements and sales of our drugs, if approved. These upfront and milestone payments may vary significantly from period to period and
any such variance could cause a significant fluctuation in operating results from one period to the next.

In addition, our measurement of compensation cost for stock-based awards
made to employees, directors and non-employee consultants is based on the fair value of the award on the grant date and we recognize the
cost as an expense over the requisite service period or upon the completion of performance-based vesting terms, as applicable. Because
the variables that we use as a basis for valuing stock-based awards change over time, including our underlying stock price and stock price
volatility, the magnitude of the expense that we must recognize may vary significantly.

Furthermore, operating results
may fluctuate due to a variety of other factors, many of which are outside of our control and may be difficult to predict, including the
following:

●delays
                                            in the commencement, enrollment and the timing of clinical testing for our product candidates;

●the
                                            timing and success