Company: TELO
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001493152-25-021496
Chunk: 36

Company: Telomir Pharmaceuticals, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 8
Chunk 36
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NOTES
TO CONDENSED FINANCIAL STATEMENTS

September
30, 2025

(Unaudited)

Note
1. Description of business and summary of significant accounting policies:

Telomir
Pharmaceuticals (NASDAQ:TELO) is a pre-clinical stage biotechnology company developing therapies designed to target the root epigenetic
mechanisms underlying cancer, aging, and degenerative disease. The Company’s lead candidate, Telomir-1, has demonstrated activity
in preclinical studies involving modulation of DNA and histone methylation patterns, which may contribute to balanced gene expression,
cellular function, and genomic stability. Telomir-1 is a novel oral small molecule metal ion regulator designed to extend telomere caps,
maintain cellular balance, and combat oxidative stress, a key driver of aging and disease progression. By modulating essential metal
ions such as iron, and copper, Telomir-1 may help protect against age related conditions, including Progeria (a rare genetic disorder
that causes rapid aging in children), Wilson’s disease (a genetic disorder leading to toxic copper buildup in the body), and Age-related
Macular Degeneration (AMD), as well as Type 2 diabetes, breast cancer, and Alzheimer’s disease.

Basis
of presentation

The
accompanying unaudited condensed financial statements include the accounts of the Company and have been prepared in accordance with accounting
principles generally accepted in the United States (“GAAP”) for interim financial information, the instructions to Quarterly
Report on Form 10-Q, and Regulation S-X. These financial statements do not include all information and notes required by GAAP for annual
financial statements. However, except as disclosed herein, there has been no material change in the information disclosed in the notes
to the financial statements included in the Company’s Form 10-K for the year ended December 31, 2024. In the opinion of management,
all adjustments, consisting of normal recurring adjustments considered necessary for a fair presentation of interim financial information,
have been included. Operating results for the periods presented are not necessarily indicative of expected results for the full year.

Research
and development expense

Research
and development costs are expensed in the period in which they are incurred and include the expenses paid to third parties, such as contract
research organizations and consultants, who conduct research and development activities on behalf of the Company.

Use
of estimates

The
preparation of financial statements in accordance with generally accepted