Company: TELO
Filing Date: 2025-02-04
Form Type: 10-K
Source: 0001493152-25-004872
Chunk: 605

Company: Telomir Pharmaceuticals, Inc.
Filing Date: 2025-02-04
Form: 10-K
Item: Item 1C
Chunk 605
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 in animals
and then in humans.

We
had net losses of $16.5 million and $13.1 million for the years ended December 31, 2024 and 2023, respectively.

Reverse
Stock Split

Effective
December 11, 2023, we completed a reverse stock split of our outstanding common stock upon the filing of our 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 prices of such warrants, have been adjusted to reflect
the reverse stock split. Unless otherwise noted, the share and per share information in this Annual Report reflects the reverse stock
split.

Components
of our Results of Operations

Research
and Development Expenses

Research
and development expenses represent costs incurred to conduct research and development of our product candidate. We recognize all research
and development costs as they are incurred. Research and development expenses consist primarily of the following:

    ●
    contracted
    research and manufacturing;

    ●
    consulting
    arrangements; and

    ●
    other
    expenses incurred to advance the Company’s research and development activities.

Our
operating expenses have historically been the cost associated with our initial investment in pre-clinical research and development activities.
We expect research and development expenses to increase in the future as we advance Telomir-1 into and through clinical trials and
pursue regulatory approvals, which will require a significant investment in costs of clinical trials, regulatory support, and contract
manufacturing. In addition, we will evaluate opportunities to acquire or in-license additional product candidates and technologies, which
may result in higher research and development expenses due to license fee and/or milestone payments, as well as added clinical development
costs.

The
process of conducting clinical trials necessary to obtain regulatory approval is costly and time consuming. We may never succeed in timely
development and achieving regulatory approval for our product candidates. The probability of success of our product candidates may be
affected by numerous factors, including clinical data, competition, manufacturing capability and commercial viability. As a result, we
are unable to determine the duration and completion costs of our development projects or when and to what extent we will generate revenue
from the commercialization and sale of our product candidates.

General
and