Revelation Biosciences (REVB) Q4 2024 earnings summary

Executive summary

• Dosed first patient and initiated PRIME Phase 1b clinical study of Gemini in CKD patients.

• FDA accepted Gemini IND, advancing clinical development.

• Received $3.7 million in net proceeds from warrant exercises in December 2024.

Financial highlights

• Cash and cash equivalents were $6.5 million at December 31, 2024, down from $12.0 million a year earlier.

• Net cash used for operating activities was $18.3 million for 2024, up from $7.3 million in 2023.

• Net loss for Q4 2024 was $1.7 million ($4.98 per share), compared to $2.2 million ($133.64 per share) in Q4 2023.

• Net loss for 2024 was $15.0 million ($87.68 per share), compared to $0.1 million ($8.44 per share) in 2023.

• Weighted-average shares outstanding increased significantly year-over-year.

Outlook and guidance

• Current cash and equivalents expected to fund operations into 2025.

• Anticipates completion of enrollment and topline data from Phase 1b study by mid-2025.