Revelation Biosciences reported financial results for the year ended December 31, 2023. The company recorded a net loss of $120,254, compared to a net loss of $10.8 million in 2022. Revenue remained at zero. Research and development expenses decreased to $4.1 million from $5.4 million in 2022, while general and administrative expenses declined to $4.5 million from $5.5 million.The company ended 2023 with $12.0 million in cash and cash equivalents, up from $5.3 million at the end of 2022. This increase was primarily due to net proceeds of $14.0 million from a public offering in February 2023. Revelation issued 96,287 shares of common stock and 11,214 pre-funded warrants in this offering.Management noted that current cash is not expected to sustain operations for the next 12 months, raising substantial doubt about the company's ability to continue as a going concern. Revelation plans to seek additional funding through public or private equity or debt financings to support its product development efforts, including clinical trials for GEM-SSI, GEM-AKI, and GEM-CKD.

Revelation Biosciences reported financial results for the year ended December 31, 2023. The company recorded a net loss of $120,254, compared to a net loss of $10.8 million in 2022. Revenue remained at zero. Research and development expenses decreased to $4.1 million from $5.4 million in 2022, while general and administrative expenses declined to $4.5 million from $5.5 million.The company ended 2023 with $12.0 million in cash and cash equivalents, up from $5.3 million at the end of 2022. This increase was primarily due to net proceeds of $14.0 million from a public offering in February 2023. Revelation issued 96,287 shares of common stock and 11,214 pre-funded warrants in this offering.Management noted that current cash is not expected to sustain operations for the next 12 months, raising substantial doubt about the company's ability to continue as a going concern. Revelation plans to seek additional funding through public or private equity or debt financings to support its product development efforts, including clinical trials for GEM-SSI, GEM-AKI, and GEM-CKD.