Revelation Biosciences Reports $6.4 Million Net Loss for Nine Months Ended September 30, 2025

Revelation Biosciences, Inc. reported a net loss of $6.4 million for the nine months ended September 30, 2025, a significant reduction from the $13.3 million loss recorded during the same period in 2024. The company’s total operating expenses increased to $6.5 million from $6.2 million year-over-year, primarily driven by higher research and development costs, which rose to $3.1 million from $2.9 million. General and administrative expenses also saw a slight increase, totaling $3.4 million compared to $3.3 million in the prior year. 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 September 30, 2025, Revelation Biosciences reported total assets of $12.9 million, a substantial increase from $6.6 million at the end of 2024. This growth was largely attributed to a significant rise in cash and cash equivalents, which reached $12.7 million, up from $6.5 million at the end of the previous fiscal year. The company’s stockholders’ equity also improved to $11 million from $4.7 million, reflecting the successful completion of several public offerings and warrant exercises throughout the year.

Strategically, Revelation has focused on advancing its proprietary formulation, Gemini, which is being developed for multiple therapeutic applications, including treatments for acute kidney injury and chronic kidney disease. The company has engaged in various financing activities, including a public offering in May 2025 that raised approximately $3.4 million, and a warrant inducement that generated about $8.7 million in September 2025. These efforts are part of the company’s strategy to secure the necessary funding for ongoing clinical trials and product development.

Operationally, Revelation has seen an increase in its research and development activities, with expenses related to clinical studies for its product candidates rising significantly. The company reported a total of 5,924,137 shares of common stock outstanding as of November 4, 2025, following a series of stock splits and exercises of warrants. Despite these developments, the company continues to face challenges, including the need for additional capital to sustain operations beyond the next year, raising concerns about its ability to continue as a going concern.

Looking ahead, Revelation Biosciences anticipates ongoing operating losses and negative cash flows as it continues to invest in the development of its product candidates. The company plans to seek additional funding through public or private equity or debt financing, although it acknowledges the uncertainty surrounding its ability to secure such financing on favorable terms. The management remains focused on advancing its clinical programs while navigating the complexities of the biotechnology landscape.