Revelation Biosciences, Inc. released its financial results for the three and twelve months ended December 31, 2024. The company reported a net loss of $1.7 million for the fourth quarter of 2024, an improvement from the $2.2 million net loss in Q4 2023. For the full year 2024, the net loss was $15.0 million, a significant increase from the $0.1 million net loss in 2023.
As of December 31, 2024, Revelation had $6.5 million in cash and cash equivalents, down from $12.0 million at the end of 2023. Net cash used for operating activities for the twelve months ended December 31, 2024, was $18.3 million, compared to $7.3 million for the same period in 2023. The company believes its current cash is sufficient to fund operations into 2025.
Research and development expenses for Q4 2024 were $605,504, a decrease from $1,059,984 in Q4 2023. General and administrative expenses also decreased to $1,148,384 from $1,265,906 year-over-year. CEO James Rolke noted that the Phase 1b PRIME clinical study is operational, with enrollment completion and top-line data anticipated by mid-year.
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