UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission file number 1-38519 AgeX Therapeutics, Inc. (Exact name of registrant as specified in its charter) Delaware 82-1436829 (State or ot ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to __________ Commission file number 1-38519 AgeX Therapeutics, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorp ...

[PART I — FINANCIAL INFORMATION](index=3&type=section&id=PART%201%20%E2%80%94%20FINANCIAL%20INFORMATION) This section presents the company's core financial statements and management's discussion and analysis of its financial condition and operational results [Item 1. Financial Statements](index=5&type=section&id=Item%201.%20Financial%20Statements) The financial statements reveal a net loss of $6.5 million and a $10.0 million stockholders' deficit, with critical liquidity dependent on Juvenescence loans [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets decreased to $2.4 million, liabilities rose to $12.4 million, and stockholders' deficit worsened to $10.0 million Condensed Consolidated Balance Sheet Highlights (in thousands) | Balance Sheet Item | Sep 30, 2021 (Unaudited) (in thousands) | Dec 31, 2020 (in thousands) | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $731 | $527 | | Total current assets | $1,475 | $2,283 | | TOTAL ASSETS | $2,427 | $3,925 | | **Liabilities & Stockholders' Deficit** | | | | Total current liabilities | $6,598 | $5,357 | | Loan due to Juvenescence (Total) | $11,407 | $5,860 | | TOTAL LIABILITIES | $12,405 | $9,321 | | Total stockholders' deficit | ($9,978) | ($5,396) | | TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $2,427 | $3,925 | [Condensed Consolidated Statements of Operations](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q3 2021 revenues were minimal at $24,000, with net loss from continuing operations improving to $2.0 million due to expense reductions Q3 2021 vs Q3 2020 Statement of Operations (in thousands, except per share data) | Metric | Q3 2021 (in thousands) | Q3 2020 (in thousands) | | :--- | :--- | :--- | | Total revenues | $24 | $69 | | Research and development | $275 | $653 | | General and administrative | $1,421 | $1,796 | | Loss from operations | ($1,674) | ($2,397) | | Net Loss from Continuing Operations | ($1,955) | ($2,524) | | Net Loss Attributable to AgeX | ($1,955) | ($2,543) | | Net Loss Per Share (Basic & Diluted) | ($0.05) | ($0.07) | Nine Months 2021 vs 2020 Statement of Operations (in thousands, except per share data) | Metric | Nine Months 2021 (in thousands) | Nine Months 2020 (in thousands) | | :--- | :--- | :--- | | Total revenues | $117 | $203 | | Research and development | $1,080 | $2,809 | | General and administrative | $5,191 | $5,146 | | Gain on deconsolidation of LifeMap Sciences | $106 | $0 | | Loss from operations | ($6,066) | ($7,773) | | Net Loss from Continuing Operations | ($6,423) | ($7,989) | | Net Loss Attributable to AgeX | ($6,517) | ($8,419) | | Net Loss Per Share (Basic & Diluted) | ($0.17) | ($0.22) | [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operations was $6.2 million, offset by $6.0 million from financing activities, primarily Juvenescence loans Cash Flow Summary for Nine Months Ended Sep 30 (in thousands) | Cash Flow Activity | 2021 (in thousands) | 2020 (in thousands) | | :--- | :--- | :--- | | Net cash used in operating activities | ($6,208) | ($6,197) | | Net cash provided by (used in) investing activities | $416 | ($20) | | Net cash provided by financing activities | $5,996 | $4,969 | | **Net Increase (Decrease) in Cash** | **$204** | **($1,245)** | - Financing activities were the primary source of cash, with **$5.5 million** drawn from the Juvenescence loan facility and approximately **$496,000** raised from the issuance of common stock[28](index=28&type=chunk) - Investing activities were primarily impacted by the receipt of **$466,000** from the sale of LifeMap Sciences[28](index=28&type=chunk) [Notes to Financial Statements](index=10&type=section&id=Notes%20to%20Financial%20Statements) Notes reveal a 'Going Concern' warning, heavy reliance on Juvenescence loans, and the disposition of LifeMap Sciences - The company has substantial doubt about its ability to continue as a going concern, as its cash of **$0.7 million** and available loan facilities are not sufficient to fund operations for the next twelve months[36](index=36&type=chunk) - On March 15, 2021, AgeX disposed of its majority-owned subsidiary LifeMap Sciences in a cash-out merger. AgeX received approximately **$466,400** in cash. The results of LifeMap are now reported as discontinued operations[11](index=11&type=chunk)[12](index=12&type=chunk)[13](index=13&type=chunk) - AgeX is financed primarily through loans from its largest stockholder, Juvenescence. As of September 30, 2021, AgeX had borrowed **$5.5 million** under the 2019 Loan Agreement and **$7.5 million** under the 2020 Loan Agreement[90](index=90&type=chunk)[98](index=98&type=chunk)[100](index=100&type=chunk) - A Paycheck Protection Program (PPP) loan of **$432,952** obtained in April 2020 was forgiven in full in February 2021[132](index=132&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=32&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) MD&A highlights critical financial condition, dependence on Juvenescence, and significant reductions in R&D and G&A expenses [Results of Operations](index=33&type=section&id=Results%20of%20Operations) Q3 2021 revenues declined by 65.2%, while R&D and G&A expenses decreased by 57.9% and 20.9% respectively Operating Expense Changes (in thousands) | Expense Category | Q3 2021 (in thousands) | Q3 2020 (in thousands) | $ Change (in thousands) | % Change | | :--- | :--- | :--- | :--- | :--- | | Research and development | $275 | $653 | ($378) | (57.9)% | | General and administrative | $1,421 | $1,796 | ($375) | (20.9)% | | **Total Operating Expenses** | **$1,696** | **$2,449** | **($753)** | **(30.7)%** | - The decrease in R&D expenses is attributed to scaled-down activities following the layoff of **11 employees** in May 2020 and the shutdown of lab facilities as of December 31, 2020[153](index=153&type=chunk) - Other income in 2021 primarily consists of a **$437,000** gain recognized upon the forgiveness of the company's PPP Loan in February 2021[159](index=159&type=chunk) [Liquidity and Capital Resources](index=36&type=section&id=Liquidity%20and%20Capital%20Resources) Substantial doubt exists about going concern, with an accumulated deficit of $103.6 million and insufficient funding for the next twelve months - Management states that cash, cash equivalents, and available loan facilities are not sufficient to satisfy operating requirements for the next twelve months, raising substantial doubt about the company's ability to continue as a going concern[165](index=165&type=chunk) - As of September 30, 2021, the company had an accumulated deficit of **$103.6 million** and expects to continue incurring operating losses and negative cash flows[164](index=164&type=chunk) - During the nine months ended September 30, 2021, the company drew **$5.5 million** from its loan agreements with Juvenescence and raised approximately **$496,000** in gross proceeds from its at-the-market (ATM) stock offering[174](index=174&type=chunk) [PART II — OTHER INFORMATION](index=40&type=section&id=PART%20II%20%E2%80%94%20OTHER%20INFORMATION) This section details the company's updated risk factors, particularly regarding its going concern status, and its equity sales activities [Item 1A. Risk Factors](index=40&type=section&id=Item%201A.%20Risk%20Factors) The primary risk factor update emphasizes substantial doubt about the company's ability to continue as a going concern - The company explicitly states that its cash, available credit, and potential proceeds from its ATM offering are not sufficient to satisfy funding requirements for the next twelve months, raising substantial doubt about its ability to continue as a going concern[184](index=184&type=chunk) - The company had an accumulated deficit of **$103.6 million** as of September 30, 2021, and expects continued operating losses and negative cash flows[185](index=185&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=40&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company generated approximately $480,790 in net proceeds from its at-the-market stock offering for working capital At-the-Market (ATM) Offering Activity (Nine Months Ended Sep 30, 2021) | Metric | Amount (USD) | | :--- | :--- | | Shares Sold | 242,200 | | Gross Proceeds | $495,708 | | Total Expenses | $14,918 | | Net Proceeds | ~$480,790 | - The net proceeds from the ATM offering were used for working capital, including payments for professional fees, insurance premiums, consulting fees, and director compensation[192](index=192&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission file number 1-38519 AgeX Therapeutics, Inc. (Exact name of registrant as specified in its charter) Delaware 82-1436829 (State or oth ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to __________ Commission file number 1-38519 AgeX Therapeutics, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of i ...

Financial Performance - Operating losses for the years ended December 31, 2020 and 2019 were $10.7 million and $12.6 million, respectively, with an accumulated deficit of $97.1 million as of December 31, 2020[353]. - Significant operating losses are expected to continue for the foreseeable future, necessitating additional financing[353]. - The company expects to continue incurring operating losses and negative cash flows[426]. - The net loss attributable to the company for the year ended December 31, 2020, amounted to $10.9 million, with net cash used in operating activities totaling $7.8 million[433]. - The company has had recurring losses and negative operating cash flows since inception, indicating potential financial instability[439]. Revenue Generation - The company has not generated any revenue from product sales and relies on raising capital to continue operations and research and development programs[352]. - As of December 31, 2020, the company had no products approved for sale and has not generated revenue from product sales[352]. - Total revenues for the year ended December 31, 2020, were $1.868 million, an increase of 8.1% from $1.728 million in 2019[401]. - Subscription and advertising revenues decreased by 2.3% to $1.265 million in 2020 from $1.295 million in 2019[402]. - Grant revenues increased significantly by 70.6% to $307,000 in 2020 compared to $180,000 in 2019[402]. - The company has no therapeutic products approved for sale and does not expect to generate significant revenues from product sales in the foreseeable future[399]. - Income from NIH grants was approximately $307,000 in 2020, compared to $180,000 in 2019[404]. - Other revenues increased to $296,000 in 2020 from $253,000 in 2019, primarily from LifeMap Sciences' online database business[405]. Research and Development - The biotechnology company focuses on developing therapeutics targeting human aging and degenerative diseases, with initial programs aimed at diabetes, obesity, and heart disease[351]. - The company has incurred substantial research and development expenses, which include direct costs and indirect overhead allocated by Lineage[362]. - Research and development expenses have been scaled back due to layoffs and budgetary constraints, impacting future expense projections[400]. - Total research and development expenses for the year ended December 31, 2020, were $5.0 million, while general and administrative expenditures were $7.4 million[433]. - Research and development expenses decreased by 15.7% to $4.978 million in 2020 from $5.904 million in 2019[408]. Financial Position and Capital Needs - The company plans to raise up to $12.6 million through "at-the-market" transactions with Chardan Capital, LLC[430]. - The company received gross proceeds of approximately $466,400 from the disposition of its interest in LifeMap Sciences[429]. - As of December 31, 2020, the company had net operating loss carryforwards of approximately $49.2 million for U.S. federal income tax purposes[420]. - As of December 31, 2020, the company had an accumulated deficit and insufficient cash to fund operations for twelve months, raising substantial doubt about its ability to continue as a going concern[439]. - The company may face dilution of ownership interest for existing stockholders if additional capital is raised through equity or convertible debt securities[432]. Accounting and Compliance - The company has elected to comply with new accounting standards applicable to public companies, as its financial statements are consolidated with those of Lineage[350]. - The company adopted FASB ASU 2014-09 for revenue recognition, which affects how revenues are reported[385]. - The company recognizes stock-based compensation in accordance with FASB ASC 718, using the Black-Scholes option pricing model for estimating the fair value of options granted[371]. Operational Challenges - The ongoing COVID-19 pandemic may adversely impact the availability of financing and disrupt operations, with uncertain effects on business and financial condition[431]. - The company assesses going concern uncertainty to determine if it has sufficient cash and working capital to operate for at least one year from the issuance date of its consolidated financial statements[358]. - Management's plans regarding financial uncertainties are not detailed in the consolidated financial statements, which do not include adjustments for potential outcomes[439]. Expenses and Cost Management - General and administrative expenses decreased by 9.0% to $7.403 million in 2020 from $8.139 million in 2019[408]. - The company incurred approximately $194,800 in restructuring charges related to staff reductions in 2020[406]. - Cost of sales decreased by 35.2% to $158,000 in 2020 from $244,000 in 2019, resulting in a gross profit of $1.710 million, up 15.2% from $1.484 million in 2019[402]. - Cash used in investing activities during the year ended December 31, 2020, was $20,000, entirely for the purchase of laboratory equipment[434].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to __________ Commission file number 1-38519 AgeX Therapeutics, Inc. (Exact name of registrant as specified in its charter) Delaware 82-1436829 (State or ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to __________ Commission file number 1-38519 AgeX Therapeutics, Inc. (Exact name of registrant as specified in its charter) Delaware 82-1436829 (State or othe ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to __________ Commission file number 1-38519 AgeX Therapeutics, Inc. | Title of each class | Trading Symbol | Name of exchange on which registered | | -- ...

Financial Performance - Operating losses for the years ended December 31, 2019 and 2018 were $12.6 million and $11.2 million, respectively, with an accumulated deficit of $86.2 million as of December 31, 2019[337]. - Total revenues for the year ended December 31, 2019, were $1.728 million, an increase of 23.8% from $1.396 million in 2018[384]. - Subscription and advertising revenues increased by 8.6% to $1.332 million in 2019 from $1.227 million in 2018[384]. - Grant revenues rose significantly to $180,000 in 2019 from $20,000 in 2018, reflecting a $160,000 increase[384]. - Other revenues increased by 45.0% to $216,000 in 2019 from $149,000 in 2018[384]. - Gross profit for 2019 was $1.484 million, a 43.8% increase from $1.032 million in 2018[384]. - Net loss attributable to the company for the year ended December 31, 2019, amounted to $12.2 million, with net cash used in operating activities totaling $10.2 million[416]. - The accumulated deficit as of December 31, 2019, was $86.2 million, indicating ongoing operating losses and negative cash flows since inception[410]. - The company experienced recurring losses and negative operating cash flows since inception, indicating ongoing financial challenges[423]. Research and Development - The biotechnology company focuses on developing therapeutics targeting human aging and degenerative diseases, with initial programs aimed at diabetes, obesity, and heart disease[335]. - The company has incurred significant expenses related to research and development, including personnel costs, stock-based compensation, and outside consultants[346]. - Research and development expenses decreased by $0.7 million to $5.9 million in 2019, primarily due to the non-recurrence of a $0.8 million in-process research and development expense from 2018[392]. - Total research and development expenses, including acquired in-process research and development, amounted to $5.9 million in 2019, down from $6.6 million in 2018[394]. Operational Challenges - Significant operating losses are expected to continue for the foreseeable future, necessitating additional financing to support operations and research and development programs[337]. - The company expects to continue incurring significant expenses and operating losses, indicating a need for ongoing capital resources[337]. - The company anticipates that its cash and cash equivalents will not be sufficient to meet anticipated operating and funding requirements for the next twelve months[411]. - Management plans to implement a Restructuring Plan if borrowing exceeds $500,000, which may lead to significant staff reductions and impact future operations[383]. - The company expects to borrow an initial $500,000 under a new loan agreement, but additional loans are subject to discretion, raising concerns about future funding[412]. Revenue Sources - The company has not generated any revenue from product sales and relies on subscription and advertising revenue from LifeMap Sciences' online databases[336]. - LifeMap Sciences' revenues are primarily derived from its GeneCards online database, with no products approved for sale[382]. - As of December 31, 2019, $0.3 million was included in deferred revenues, expected to be recognized as subscription revenue over the next twelve months[377]. Expenses - General and administrative expenses increased by $2.5 million to $8.1 million in 2019, with significant contributions from professional fees ($1.0 million) and insurance premiums ($0.8 million)[399]. - General and administrative expenses for LifeMap Sciences accounted for 10.2% of total expenses in 2019, down from 14.9% in 2018[397]. - Non-cash items affecting net loss included $1.9 million in stock-based compensation and $1.0 million in depreciation and amortization[416]. Financial Position - The company recorded a gain of $354,000 on the sale of its Ascendance common stock in 2019, following a previous gain of $3.2 million in 2018[401]. - The company has established a full valuation allowance for deferred tax assets due to uncertainty in realizing future tax benefits[409]. - The company had no off-balance sheet arrangements as of December 31, 2019[419]. - The financial statements were audited and presented fairly in all material respects for the years ended December 31, 2019, and 2018[422]. - The company utilizes the Black-Scholes option pricing model for estimating the fair value of stock options granted under its equity incentive plan[356]. - The Shared Facilities and Services Agreement with Lineage terminated on September 30, 2019, ending the provision of services and facilities[344].