Financial Performance - For the three months ended June 30, 2025, the company reported a net loss of $5.1 million, compared to a net loss of $1.4 million for the same period in 2024, representing a significant increase in losses [78]. - The company incurred a total net loss of $7.2 million for the six months ended June 30, 2025, compared to a net loss of $7.7 million for the same period in 2024 [78]. - The company reported negative cash flow from operations of approximately $1.6 million for the six months ended June 30, 2025, compared to $3.5 million for the same period in 2024 [101]. Expenses - Research and development expenses for the three months ended June 30, 2025, were $0.04 million, a decrease from $0.6 million in the same period of 2024, primarily due to a credit received in 2024 [89]. - General and administrative expenses increased to $5.0 million for the three months ended June 30, 2025, from $0.9 million in 2024, largely due to a $4.6 million increase in stock compensation expenses [94]. - The company expects research and development expenses to increase as it advances Telomir-1 into clinical trials and pursues regulatory approvals [93]. Cash Position - As of June 30, 2025, the company had cash and cash equivalents of approximately $0.8 million and an accumulated deficit of approximately $37.8 million [101]. - The company has entered into an unsecured Promissory Note with the Starwood Trust, allowing it to borrow up to $5 million, with no amounts borrowed as of June 30, 2025 [99]. Funding - The company raised $3 million in equity financing through a direct investment by The Bayshore Trust, issuing 333,333 restricted shares at $3.00 per share, an 18% premium to the closing share price on the execution date [100]. Revenue Generation - The company has not generated any revenue since inception and does not anticipate doing so until successful completion of preclinical and clinical development [91].
Telomir Pharmaceuticals(TELO) - 2025 Q2 - Quarterly Report