Company: BFRG
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023496
Chunk: 72

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 8
Chunk 72
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 to market with the discoveries with the ultimate goal of securing revenue generating strategic partnership deals with
biopharmaceutical companies. We intend to secure the rights to other proprietary data sets and repeat this strategy. Additionally, we
intend to gain access to later-stage clinical assets through partnerships or the acquisition of rights to failed therapeutic candidates
for drug rescue. In certain circumstances, we intend to conduct late-stage clinical trials in an effort to rescue therapeutic assets
that previously failed. In these cases, there will be a requirement for drug supply and regulatory services to conduct clinical trials.
The success of our clinical development programs will require finding partners to support the clinical development, adequate availability
of raw materials and drug product for our research and development and clinical trials, and, in some cases, may also require the establishment
of third-party arrangements to obtain finished drug product that is manufactured appropriately under good manufacturing practices, and
packaged for clinical use or sale. Since we are a company focused on using our AI/ML technology to advance medicines, any clinical development
programs will also require, in all cases, partners and the establishment of third-party relationships for execution and completion of
clinical trials.

Since
completing our initial public offering in February 2023 (the “IPO”), aided by the receipt of the IPO proceeds in addition
to the proceeds from our February 2024 and October 2024 offerings and our ongoing At-The-Market Sales Agreement with BTIG, LLC (the “ATM
Agreement”), we have implemented several initiatives including: investor relations and marketing to raise awareness for the Company
in the financial and business sectors, research and development, and initiation of preclinical studies with our in-licensed drug programs.
The Company is actively engaged in developing and pursuing new intellectual property as it strives to continuously evolve its AI/ML platform.

Internally,
the Company has added incremental staff and consultants to accelerate execution and development of processes and custom scripts for use
in performing new drug target discovery and analytical services for customers, while also launching initiatives targeting large public
health data sources and seeking access to proprietary health data sources, such as our agreement with LIBD. We are also continuing to
improve our accounting and financial reporting systems and processes to enhance our internal control environment as a public company.
Capital from the IPO was also used to retire two notes that were sold to fund the Company through the IPO as well as other debts accrued
over time to our staff, employees and consultants, and obligations related to the acquisition of our licensed drug programs