Company: REVB
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0000950170-25-034584
Chunk: 254

Company: REVELATION BIOSCIENCES, INC.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 7
Chunk 254
---
 for the periods presented:

    Year EndedDecember 31,

    2024

    2023

    Change

    Personnel expenses (including employee stock-based compensation)
     
    $
    2,768,602

    $
    2,272,005

    $
    496,597

    Legal and professional fees

    1,274,567

    1,844,077

    (569,510
    )

    Other expenses

    382,944

    394,680

    (11,736
    )

    Total general and administrative expenses
     
    $
    4,426,113

    $
    4,510,762

    $
    (84,649
    )

General and administrative expenses decreased by $0.1 million, from $4.5 million for the year ended December 31, 2023 to $4.4 million for the year ended December 31, 2024. The decrease was primarily due to a decrease of $0.6 million in legal and professional fees, offset by an increase of $0.5 million in personnel expenses.

Other (Expense) Income, Net

Other (expense) income, net was $8,536,410 for the year ended December 31, 2023, related to the change in fair value of the warrant liability, foreign currency transaction gains and losses, and interest income from our cash balances in savings accounts. Other (expense) income, net was ($7,063,427) for the year ended December 31, 2024, primarily related to the LifeSci Capital LLC judgment expense and reimbursement of legal costs, clinical trial related settlement expenses with A-IR Clinical Research Ltd. and expenses in connection with the deferred underwriting commissions, offset by interest income from our cash balances in savings accounts.

Liquidity and Capital Resources

Since our inception to December 31, 2024, we have funded our operations from the issuance and sale of our common stock, preferred stock and warrants, from which we have raised net proceeds of $56.7 million, of which $12.8 million was received during the year ended December 31, 2024. As of December 31, 2024, we had available cash and cash equivalents of $6.5 million and an accumulated deficit of $40.5 million.

Our use of cash is to fund operating expenses, which consist primarily of research and development expenditures related to our therapeutic