Overview

• U.S. clinical-stage life sciences firm's Q1 net loss widened yr/yr

• Operating expenses rose, driven by higher R&D and administrative costs

• Company ended Q1 with increased cash, aided by warrant inducement proceeds

Outlook

• Company expects current cash to fund operations through Q1 2027

• Company focused on initiating pivotal clinical study for Gemini in acute kidney injury

Result Drivers

• R&D SPENDING - Higher research and development costs contributed to increased operating expenses

• ADMINISTRATIVE COSTS - General and administrative expenses rose yr/yr, adding to overall operating expenses

• CLINICAL PROGRAM PROGRESS - Co cited regulatory agreement and preparations for pivotal Gemini study as key operational focus

Company press release: ID:nACSt31L1a

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 EPS		-$2.71
Q1 Net Income		-$3 mln

Analyst Coverage

• The one available analyst rating on the shares is "buy"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Revelation Biosciences Inc is $53.00, about 5,096.1% above its May 6 closing price of $1.02

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