Revelation Biosciences Reports $4.5 Million Net Loss, Seeks Additional Funding

Revelation Biosciences, Inc. reported a net loss of $4.5 million for the six months ended June 30, 2025, a significant improvement compared to a net loss of $11.1 million during the same period in 2024. The company’s total operating expenses for the first half of 2025 were $4.6 million, slightly higher than the $4.4 million recorded in the prior year. The decrease in net loss was attributed to a reduction in other expenses, particularly related to the change in fair value of warrant liabilities, which shifted from a loss of $6.6 million in 2024 to a gain of $60,749 in 2025. The company has not generated any revenue since its inception and continues to rely on capital raised through stock offerings to fund its operations.

As of June 30, 2025, Revelation Biosciences had total assets of $5.4 million, down from $6.6 million at the end of 2024. The company’s cash and cash equivalents decreased to $5.2 million from $6.5 million over the same period. Stockholders’ equity also fell to $3.8 million from $4.7 million, reflecting the ongoing losses and the impact of a deemed dividend related to warrant exercises. The company’s accumulated deficit reached $45 million, indicating the financial challenges it faces as it continues to develop its product candidates.

In terms of strategic developments, Revelation Biosciences completed a public offering in May 2025, raising approximately $3.4 million. This followed a previous offering in February 2024, which generated $5.4 million. The company has also undergone significant organizational changes, including two reverse stock splits in 2025, aimed at increasing the market price of its shares. As of June 30, 2025, the company had 1,534,637 shares of common stock outstanding, a substantial increase from 174,104 shares at the end of 2024.

Operationally, the company is focused on its proprietary formulation, Gemini, which is being developed for various therapeutic applications, including the prevention of acute kidney injury and chronic kidney disease. Research and development expenses for the first half of 2025 totaled $2.2 million, up from $2.1 million in the prior year, driven by increased clinical study costs and personnel expenses. The company anticipates that its research and development expenses will continue to rise as it advances its product candidates through clinical trials.

Looking ahead, Revelation Biosciences faces substantial uncertainty regarding its ability to continue as a going concern. The company has indicated that its current cash reserves may not be sufficient to sustain operations for the next year without additional funding. It plans to seek further capital through public or private equity offerings or debt financing, although it acknowledges the risks associated with obtaining financing on favorable terms. The company’s future success will depend on its ability to secure funding, advance its product candidates, and ultimately achieve regulatory approval for commercialization.