Financial Performance - Telomir Pharmaceuticals reported net losses of $1.1 million for Q3 2025, compared to $6.0 million for Q3 2024, and $8.4 million for the nine months ended September 30, 2025, down from $13.7 million in the same period of 2024[80]. - The company has not generated any revenue and expects expenses to increase substantially as it advances preclinical activities and initiates clinical trials[79]. - The company has not generated any revenue since inception and does not anticipate doing so until successful completion of preclinical and clinical development and obtaining regulatory approval[101]. - The company incurred $2.5 million in negative cash flow from operations for the nine months ended September 30, 2025, compared to $4.5 million in 2024[111]. - As of September 30, 2025, the company had cash and cash equivalents of approximately $7.3 million and an accumulated deficit of approximately $38.9 million[111]. - The company expects its cash and cash equivalents to fund operations only through the third quarter of 2026, raising substantial doubt about its ability to continue as a going concern[112]. Equity Financing - The company raised $3 million in equity financing through a direct investment, issuing 333,334 shares at $3.00 per share, an 18% premium to the closing price of $2.54 on the execution date[81]. - The company sold a total of 1,200,000 shares at an average price of $1.82 per share through its at-the-market equity offering facility[87]. - Financing activities provided $8.6 million of cash for the nine months ended September 30, 2025, primarily from the sale of common stock[119]. - The company entered into an agreement to raise $3 million in equity financing through a direct investment by The Bayshore Trust, issuing shares at a purchase price of $3.00 per share, representing an 18% premium to the closing share price on the date of execution[110]. Research and Development - Research and development expenses for the three months ended September 30, 2025, were $0.8 million, up from $0.6 million in the same period in 2024, primarily due to costs associated with the lead investigational therapy, Telomir-1[99]. - For the nine months ended September 30, 2025, research and development expenses totaled $1.1 million, a decrease from $1.9 million in the same period in 2024, attributed to certain pharmaceutical manufacturing activities not performed in 2025[100]. Product Development - A binding Letter of Intent was executed on October 17, 2025, to acquire TELI Pharmaceuticals, securing worldwide rights to Telomir-1, with potential contributions of up to $5 million from TELI shareholders[76][93]. - Telomir-1 demonstrated significant preclinical efficacy, including reversing DNA methylation of tumor suppressor genes and inhibiting aggressive cancer cell viability in various models[92][90]. - The company reported that Telomir-1 improved neuromotor performance and reduced liver-copper accumulation in a Wilson's disease model, indicating multi-organ protective effects[74]. - Telomir-1 showed the ability to restore mitochondrial function without triggering oxidative stress in human cells derived from a Progeria patient[84]. - Telomir-1's mechanism includes modulation of essential metal ions and epigenetic remodeling, which are believed to underlie aging, cancer, and metabolic dysfunction[75]. - Telomir-1 has not been evaluated in humans, and there is no assurance that preclinical results will translate into clinical safety or efficacy[75]. Administrative Expenses - General and administrative expenses for the three months ended September 30, 2025, were $0.4 million, down from $5.4 million in 2024, mainly due to stock-based compensation related to grants issued in 2024[105]. - For the nine months ended September 30, 2025, general and administrative expenses were $7.3 million, compared to $7.0 million in 2024, with the increase primarily due to executive stock-based compensation[105].
Telomir Pharmaceuticals(TELO) - 2025 Q3 - Quarterly Report