Revelation Biosciences (REVB) Q3 2025 earnings summary

Executive summary

• Clinical-stage life science company focused on inflammation modulation with proprietary Gemini formulation; pipeline includes GEM-AKI, GEM-CKD, GEM-PSI, and GEM-PBI product candidates.

• Reported positive top-line results from the PRIME clinical study, supporting the potential of the Gemini program.

• No revenue generated to date; operations funded by $69.2 million in equity and warrant financings since inception.

• Net loss of $6.4 million for the nine months ended September 30, 2025, compared to $13.3 million for the same period in 2024.

• Cash and cash equivalents increased to $12.7 million as of September 30, 2025, from $6.5 million at December 31, 2024.

Financial highlights

• Net loss for Q3 2025 was $1.9 million, or $(1.77) per share, compared to $2.2 million, or $(40.15) per share, in Q3 2024.

• Net cash used in operating activities was $6.3 million for the nine months ended September 30, 2025, down from $14.6 million in the prior year period.

• Total operating expenses for the nine months ended September 30, 2025 were $6.5 million, up from $6.2 million year-over-year.

• Net cash provided by financing activities was $12.5 million for the nine months ended September 30, 2025.

• Total assets: $12.9 million; total liabilities: $1.85 million; stockholders' equity: $11.0 million as of September 30, 2025.

Outlook and guidance

• Expects continued significant operating and net losses, and negative cash flows from operations for the foreseeable future.

• Current cash position expected to fund operations through Q3 2026.

• Plans to seek further funding through public or private equity or debt financings.

• Plans to meet with the FDA later in 2025 to discuss the clinical development path for Gemini.

• Focus remains on advancing Gemini for acute kidney injury, with additional programs in chronic kidney disease and infection prevention.