Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 3462

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 1A
Chunk 3462
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ITEM
1A. RISK FACTORS.

In
the course of conducting our business operations, Ocean Biomedical is exposed to a variety of risks. Any of the risk factors we describe
below have affected or could materially adversely affect our business, financial condition and results of operations. The market price
of shares of our common stock could decline, possibly significantly or permanently, if one or more of these risks and uncertainties occurs.
Certain statements in this Item 1A are forward- looking statements. See “Cautionary Note Regarding Forward-Looking Statements.”

The
risk factors below reflect our business after the Closing of the Business Combination. Unless otherwise noted or the context otherwise
requires, the disclosures in this Item 1A refer to Ocean Biomedical, Inc. and its subsidiaries following the consummation of the Business
Combination.

67

The
risks discussed below are not exhaustive and are based on certain assumptions made by us. We may face additional risks and uncertainties
that are not presently known to us or that we currently deem immaterial, which may also impair our business, financial condition or results
of operations. The following discussion should be read in conjunction with our financial statements and the notes thereto.

Risk
Factors

Risks
Related to Our Common Stock

We
have incurred significant net losses since inception and we are expected to continue to incur significant net losses for the foreseeable
future.

We
have incurred significant net losses since our inception and have financed our operations principally through personal payments made
by our executive chairman and founder and through financings with an institutional investor. We anticipate that we will continue to incur
significant research and development and other expenses related to our ongoing operations, and do not expect to generate income, profits,
or positive cash flow for the foreseeable future. For the years ended December 31, 2024 and 2023, Ocean reported a net loss of $9.5
million and $114.5 million, respectively. As of December 31, 2024 and 2023, Ocean had an accumulated deficit of $205.5 million and $196.1
million, respectively. We are still in the early stages of development of our product candidates and have not yet completed any clinical
trials. As a result, we expect that it will be several years, if ever, before we have a commercialized product and generate revenue from
product sales. Even if we succeed in receiving marketing approval for and commercializing one or more of our product candidates, we