AgeX Therapeutics(AGE) - 2025 Q3 - Quarterly Results

Financial Performance - Net loss for Q3 2025 was $4.6 million, or $0.45 per share, compared to a net income of $1.4 million, or $0.16 per share in Q3 2024[9]. - The net loss attributable to Serina Therapeutics, Inc. for the three months ended September 30, 2025, was $4,585,000, compared to a net income of $1,410,000 in 2024[24]. - Basic net loss per common share for the three months ended September 30, 2025, was $(0.45), compared to $0.16 in 2024[24]. - Total revenues for the three months ended September 30, 2025, were $14,000, compared to $0 for the same period in 2024, representing a significant increase[24]. - Total operating expenses for the nine months ended September 30, 2025, were $17,945,000, compared to $11,569,000 in 2024, indicating a 55% increase[24]. Expenses - Operating expenses for Q3 2025 were $6.4 million, up from $5.3 million in Q3 2024, representing a 20.8% increase[4]. - R&D expenses increased to $3.6 million in Q3 2025 from $2.4 million in Q3 2024, a rise of 50%[6]. - Research and development expenses increased to $3,651,000 for the three months ended September 30, 2025, up from $2,415,000 in 2024, reflecting a growth of 51%[24]. Cash and Assets - Cash and cash equivalents as of September 30, 2025, totaled $8.6 million, an increase from $3.7 million at the end of 2024[10][22]. - Total assets increased to $12.4 million as of September 30, 2025, compared to $6.7 million at the end of 2024[22]. - Cash and cash equivalents at the end of the period on September 30, 2025, were $8,620,000, up from $3,235,000 at the end of the same period in 2024[26]. Financing Activities - Serina secured up to $20 million in funding through a convertible note and warrant financing agreement, with the first tranche of $5 million drawn in September 2025[5]. - Net cash provided by financing activities for the nine months ended September 30, 2025, was $16,931,000, compared to $8,181,000 in 2024, showing a significant increase of 107%[26]. Regulatory and Development Milestones - The FDA has aligned with the company's plan to advance SER-252 under a 505(b)(2) NDA pathway, marking a significant regulatory milestone[3][5]. - SER-270, designed for tardive dyskinesia, is on track for formulation optimization and pre-IND activities completion in 2026[5]. Shareholder Information - As of November 7, 2025, Serina issued 474,712 shares of common stock at a gross average price of $6.00, resulting in net proceeds of $2.8 million[5]. - The weighted average number of common shares outstanding for the three months ended September 30, 2025, was 10,339,000, compared to 8,851,000 in 2024, reflecting a 17% increase[24]. Other Income - Total other income, net for the three months ended September 30, 2025, was $1,797,000, down from $6,695,000 in 2024, indicating a decrease of 73%[24]. Corporate Initiatives - The company launched a comprehensive corporate communications platform in October 2025 to enhance stakeholder engagement and transparency[5].