Company: OCEA
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-011080
Chunk: 9

Company: Ocean Biomedical, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 2
Chunk 9
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We expect our expenses to increase
substantially in connection with our ongoing activities, particularly as we advance the preclinical activities and clinical trials of
our product candidates. In addition, we will incur additional ongoing costs associated with operating as a public company, including significant
legal, accounting, compliance, investor relations and other expenses that we did not incur as a private company. The timing and amount
of our operating expenditures will depend on our ability to:

    ●
    advance preclinical development of our early-stage programs;

    ●
    manufacture, or have manufactured on our behalf, our preclinical and clinical drug material and develop processes for late state and commercial manufacturing;

    ●
    Obtain regulatory approvals for any product candidates that successfully complete clinical trials;

    ●
    establish a sales, marketing and distribution infrastructure to commercialize our product candidates for which we may obtain marketing approval and intend to commercialize on our own;

    ●
    hire additional clinical, quality control and scientific personnel;

    ●
    expand our operational, financial and management systems and increase personnel, including personnel to support our research and clinical development, manufacturing and commercialization efforts and our operations as a public company; and 

    ●
    obtain, maintain, expand and protect our intellectual property portfolio.

We will require additional capital
as we seek regulatory approval of our product candidates and if we choose to pursue in-licenses or acquisitions of other product candidates.
If we receive regulatory approval for our product candidates, we expect to incur significant commercialization expenses related to product
manufacturing, sales, marketing and distribution, depending on where we choose to commercialize. Because of the numerous risks and uncertainties
associated with research, development and commercialization of biologic product candidates, we are unable to estimate the exact amount
of our working capital needs.

43

Ayrton Convertible
Note Financing

Refer to Note 7, Senior Secured
Convertible Notes, in Part I, Item 1. “Financial Statements” for additional detail about our convertible notes and the
warrants issued in conjunction with these loans.

Short-Term Loans

Refer to Note 6, Short-Term
Loans, in Part I, Item 1. “Financial Statements” for additional detail about our short-term loans and the warrants issued
in conjunction with these loans.

Other Commitments

License Fees

Our contractual obligations are
expected to have an effect on our liquidity and cash flows in future periods. Under our license agreements with our academic research
institution partners, fixed license maintenance