Serina Therapeutics, Inc. reported its financial results for the second quarter of 2025, revealing a total revenue of $130,000, a significant increase from $51,000 in the same period last year. For the first half of 2025, the company generated $130,000 in revenue compared to $56,000 in the first half of 2024. Despite this growth in revenue, the company incurred a net loss of $6.5 million for the second quarter, compared to a net income of $5.2 million in the prior year. The loss for the first half of 2025 was $11.3 million, up from a loss of $9.8 million in the same period of 2024.
Operating expenses for the second quarter of 2025 totaled $5.7 million, a 45% increase from $3.9 million in the same quarter of 2024. This rise was primarily driven by increased research and development costs, which surged to $3.2 million from $1.6 million year-over-year, reflecting the company's ongoing investment in its product pipeline. General and administrative expenses also rose to $2.5 million from $2.3 million, attributed to higher stock-based compensation and consulting fees.
In terms of strategic developments, Serina Therapeutics completed a merger with AgeX Therapeutics in March 2024, which has since positioned the company to focus on its proprietary POZ drug delivery technology aimed at treating neurological diseases. The merger has facilitated a restructuring of the company, including the issuance of 965,250 shares of Series A convertible preferred stock, generating net proceeds of $4.9 million. Additionally, the company has entered into an at-the-market offering program, allowing it to raise up to $13.3 million through the sale of common stock.
As of June 30, 2025, Serina Therapeutics reported cash and cash equivalents of $6.0 million, an increase from $3.7 million at the end of 2024. However, the company acknowledged substantial doubt about its ability to continue as a going concern, given its accumulated deficit of $55.6 million and ongoing operating losses. The company anticipates that it will require additional financing to support its operations and product development efforts in the future.
Looking ahead, Serina Therapeutics plans to advance its lead product candidate, SER-252, into Phase 1 clinical trials and continue developing its other product candidates. The company expects to incur significant expenditures related to research and development, regulatory approvals, and commercialization efforts. Management has indicated that it will continue to seek funding through equity offerings and collaborations to support its growth strategy.
About Serina Therapeutics, Inc.
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