Company: TELO
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001493152-25-021496
Chunk: 53

Company: Telomir Pharmaceuticals, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 8
Chunk 53
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. The LOI also provides for up to $5 million in potential shareholder contributions
from certain TELI shareholders, payable in cash or cash equivalents over the course of the collaboration — $1 million at closing,
$2 million upon acceptance of an Investigational New Drug (IND) application by the U.S. Food and Drug Administration, and $2 million
upon initiation of a Phase 1/2 clinical trial. The closing of the proposed acquisition is not conditioned upon the funding of these milestone-based
shareholder contributions.

The
transaction remains subject to customary conditions, including completion of due diligence, negotiation of definitive agreements, and
approval by the shareholders of both companies. There can be no assurance that the parties will enter into definitive agreements or that
the transaction will be completed. If consummated, the acquisition would establish Telomir as the single global owner of Telomir-1 intellectual-property
assets and is expected to enhance the Company’s ability to pursue future strategic collaborations, licensing arrangements, or regional
partnership opportunities.

To
date, we have not generated any revenue nor do we expect to generate revenue unless and until we successfully complete preclinical and
clinical development of, receive regulatory approval for, and commercialize a program and we do not know when, or if at all, that will
occur. We expect our expenses to increase substantially in connection with our ongoing activities, particularly as we advance the preclinical
activities and studies and initiate clinical trials. In addition, if we obtain regulatory approval for any programs, we expect to incur
significant expenses related to production of sales, marketing, and distribution to the extent that such sales, marketing and distribution
are not the responsibility of potential collaborators. We expect to incur additional costs associated with operating as a public company.

We
had net losses of $1.1 million and $6.0 million for the three months ended September 30, 2025 and 2024, respectively and $8.4 million
and $13.7 million for the nine months ended September 30, 2025 and 2024, respectively.

Highlights
– Three Months Ended September 30, 2025 and beyond

●
On May 19, 2025, Telomir Pharmaceuticals, Inc. (the “Company”) entered into an agreement to raise $3 million in equity financing
through a direct investment by The Bayshore Trust, an entity affiliated with the Company’s largest shareholder. The transaction
was structured as a straight restricted common stock deal