Revelation Biosciences reported significantly improved financial results for fiscal year 2023, with net loss narrowing to $120,254 from $10.8 million in 2022. The company ended the year with a strong cash position of $12 million, up from $5.3 million at the end of 2022, primarily due to successful public offerings that raised net proceeds of $14 million in February 2023.Research and development expenses decreased to $4.1 million from $5.4 million in 2022, while general and administrative costs reduced to $4.5 million from $5.5 million. The company recorded a gain of $8.3 million from changes in warrant liability fair value, which significantly improved its bottom line performance. Stock-based compensation expense decreased to $155,721 from $301,116 in the prior year.Looking ahead, management acknowledges substantial doubt about the company's ability to continue as a going concern, as current cash is not expected to sustain operations for 12 months. The company plans to seek additional funding through public or private equity/debt financings to advance its product candidates GEM-SSI, GEM-AKI, and GEM-CKD through clinical development stages.

Revelation Biosciences reported significantly improved financial results for fiscal year 2023, with net loss narrowing to $120,254 from $10.8 million in 2022. The company ended the year with a strong cash position of $12 million, up from $5.3 million at the end of 2022, primarily due to successful public offerings that raised net proceeds of $14 million in February 2023.Research and development expenses decreased to $4.1 million from $5.4 million in 2022, while general and administrative costs reduced to $4.5 million from $5.5 million. The company recorded a gain of $8.3 million from changes in warrant liability fair value, which significantly improved its bottom line performance. Stock-based compensation expense decreased to $155,721 from $301,116 in the prior year.Looking ahead, management acknowledges substantial doubt about the company's ability to continue as a going concern, as current cash is not expected to sustain operations for 12 months. The company plans to seek additional funding through public or private equity/debt financings to advance its product candidates GEM-SSI, GEM-AKI, and GEM-CKD through clinical development stages.