Company: OCEA
Filing Date: 2025-01-13
Form Type: 10-Q
Source: 0001493152-25-001880
Chunk: 218

Company: Ocean Biomedical, Inc.
Filing Date: 2025-01-13
Form: 10-Q
Item: Item 2
Chunk 218
---

    Change 
  
    Operating expenses: 

    Research and development 
    $-  
    $305  
    $(305) 
    $26  
    $726  
    $(700)
  
    General and administrative 
     768  
     2,350  
     (1,582) 
     2,019  
     10,148  
     (8,129)
  
    Total operating expenses 
     768  
     2,655  
     (1,887) 
     2,045  
     10,874  
     (8,829)
  
    Operating loss 
     (768) 
     (2,655) 
     1,887  
     (2,045) 
     (10,874) 
     8,829 
  
    Other income (expense) 
     (4,760) 
     (11,432) 
     6,672  
     (7,718) 
     (86,736) 
     79,018 
  
    Net loss 
    $(5,528) 
    $(14,087) 
    $8,558  
    $(9,763) 
    $(97,610) 
    $87,847 

Operating
Expenses

Research
and development

Research
and development expense for the three months ended September 30, 2024 decreased by $0.3 million, as compared to the three months ended
September 30, 2023.

Research
and development expense for the nine months ended September 30, 2024 decreased by $0.7 million, as compared to the nine months ended
September 30, 2023.

41

General
and administrative

General
and administrative expense for the three months ended September 30, 2024 decreased by $1.6 million, as compared to the three months ended
September 30, 2023. The $1.6 million decrease was primarily driven by decreases of (i) $0.7 million in professional services, (ii) $0.6
million in salaries and wages, and (iii) $0.3 million in insurance and public relations.

General
and administrative expenses for the nine months ended September 30, 2024 decreased by $8.1 million, as compared to the nine months