Company: REVB
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0000950170-25-034584
Chunk: 244

Company: REVELATION BIOSCIENCES, INC.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1B
Chunk 244
---
        Personnel expenses (including stock-based compensation)

        1,227,195

        765,330

        General and administrative

        4,426,113

        4,510,762

        Change in fair value of warrant liability

        (81,441
        )

        (8,328,937
        )

        Other (expense) income, net(3)

        7,144,868

        (207,473
        )

        Net loss
         
        $
        (15,038,536
        )
         
        $
        (120,254
        )
       
       (1)Other program expenses include pre-clinical costs and clinical preparation costs primarily for programs GEM-AKI, GEM-CKD and GEM-PSI.(2)Other research and development expenses primarily consist of facilities charges, third party consultant costs, costs related to other product candidates, and other unallocated costs.(3)LifeSci Capital LLC judgment expense, reimbursement of costs, clinical trial related settlement expenses with A-IR Clinical Research Ltd., expense in connection with the deferred underwriting commissions, foreign currency transaction gains and losses and interest income from our cash balances in savings accounts.

13. Subsequent Event2021 Equity Plan Stock IncreaseOn January 1, 2025, the number of shares of common stock available under the 2021 Plan increased to 156,512 as per the Evergreen Feature in the 2021 Plan.Restricted Stock Awards GrantedOn February 11, 2025, 58,568 Restricted Stock Awards, were granted to employees and the Board of Directors which resulted in a fair value of $0.2 million of stock-based compensation expense based on the Company’s stock price on the date of grant. The grants were granted from shares of the 2021 Plan and either vest 100% on the date of grant or vest 50% on the date of grant, with 50% vesting on the vest one year thereafter.

 F-27

Regaining Nasdaq ComplianceAs previously reported on October 16, 2024, the Company received a letter from Nasdaq notifying the Company of its noncompliance with Nasdaq Listing Rule 5550(a)(2) by failing to maintain a minimum bid price for its common stock of at least $1.00 per share for 30 consecutive business days. The Company had until February 14, 2025, to regain compliance by having a minimum closing bid price of