Company: REVB
Filing Date: 2025-05-20
Form Type: S-1
Source: 0001213900-25-045828
Chunk: 232

Company: REVELATION BIOSCIENCES, INC.
Filing Date: 2025-05-20
Form: S-1
Chunk 232
---
 provision or benefit for income taxes during the three months ended March 31, 2025 and 2024, respectively. For the three months ended March 31, 2025 and 2024, the Company recorded non-taxable income of $ 1,417and $ 68,427, respectively, related to a change in the fair value of a warrant liability. The Company incurred taxable losses in 2024 and projects further taxable losses for 2025. The Company did not record a benefit from income taxes because, based on evidence involving its ability to realize its deferred tax assets, the Company recorded a full valuation allowance against its deferred tax assets. F-40

11. Segment Information

ASC 280, “Segment Reporting,” establishes
standards for reporting information about operating segments. Operating segments are defined as components of an enterprise about which
separate discrete financial information is available that is evaluated regularly by the chief operating decision maker (“CODM”)
in deciding how to allocate resources and in assessing performance. The Company and the Company’s CODM view the Company’s
operations and manage its business on the basis of reportable segment, which is focused on the prevention and treatment
of disease by developing and commercializing therapeutics that modulate the innate immune system.

The CODM of the Company is the Chief Executive
Officer. The CODM assesses the performance of the Company and decides how to allocate resources based upon consolidated net loss that
is also reported within the condensed consolidated statements of operations. The measure of segment assets that is reviewed by the CODM
is reported within the condensed consolidated balance sheets as consolidated total assets. The CODM uses consolidated net loss to monitor
period-over-period results and decides where to allocate and invest additional resources within the business to continue growth.

| Segment operating expenses:                             
 Research and development:                               |     | Three Months Ended 
 March 31,          
 2025               |            |   |     | 2024 |            |   |
|:--------------------------------------------------------|:----|:-------------------|-----------:|:--|:----|:-----|-----------:|:--|
| GEM-AKI, GEM-CKD and GEM-PSI clinical study expenses    |     | $                  |    470,578 |   |     | $    |    333,225 |   |
| Other expenses(1)                                       |     |                    |     23,613 |   |     |      |     89,015