aibioRevelation reports second quarter 2026 results and cash into early 2027
Tickers REVB
Revelation reported a net loss of $3.3 million for the quarter and $11.5 million in cash at June 30, 2026, which it says can fund operations through the first quarter of 2027.
Key facts
- Company
- Revelation Biosciences, Inc. (NASDAQ: REVB)
- News type
- Company Updates
- Primary source
- Revelation Biosciences, Inc. 8-K (2026-08-06)
On August 6, 2026, Revelation Biosciences, Inc. reported financial results for the three and six months ended June 30, 2026. The company described itself as a clinical-stage life sciences company developing treatments for acute and chronic disease. The results were released in a press release furnished on Form 8-K.
Corporate progress
Revelation said it had formed an Acute Kidney Injury Advisory Board for the upcoming Phase 2/3 AKI clinical trial and later expanded it. It said start-up work for the pivotal study of Gemini in acute kidney injury patients continues to progress. The company also released an independent market assessment that showed a potential $94 billion total addressable market for Gemini.
Chief Executive Officer James Rolke said, "Our focus remains on starting enrollment by year-end, for the benefit of those patients and, ultimately, to deliver value for our shareholders."
Results of operations
As of June 30, 2026, Revelation had $11.5 million in cash and cash equivalents, or $11,482,792, compared with $10,700,331 at December 31, 2025. The company said the increase was primarily due to net cash proceeds from its January 2026 warrant inducement, offset by cash used for operating activities. Net cash used for operating activities was $2.6 million for the second quarter of 2026, compared with $1.9 million for the same period in 2025.
Research and development expense was $1,918,424 for the quarter, up from $1,317,980 a year earlier. General and administrative expense was $1,743,817, up from $1,143,249. Total operating expenses were $3,662,241, compared with $2,461,229 in the second quarter of 2025.
The net loss for the quarter was $3,323,384, or $0.87 per basic and diluted share, compared with a net loss of $2,444,382, or $28.04 per share, a year earlier. For the six months ended June 30, 2026, the net loss was $6,332,435, or $3.41 per share. Share counts changed sharply over the period. Shares issued and outstanding rose to 3,908,420 at June 30, 2026, from 1,583,969 at December 31, 2025, so existing holders were heavily diluted, and the loss per share of $0.87 reflects that larger count.
Balance sheet and runway
Total assets were $12,497,932 at June 30, 2026. Total current assets were $11,684,516, and total current liabilities were $1,880,400. Total liabilities were $2,430,946, and total stockholders' equity was $10,066,986. Operating lease liabilities included $189,370 classified as current and $550,546 classified as non-current. The accumulated deficit was $55,751,722.
Revelation believes its current cash and cash equivalents are sufficient to fund operations through the first quarter of 2027, based on its current operating plans and projections. The stated runway ends soon after the company's year-end enrollment target, and the pivotal trial has not yet begun enrolling. The cash gain came from a warrant inducement, not from operations. The company's stated focus is on starting enrollment in the AKI study by year-end.
The programs
Gemini is a proprietary formulation of phosphorylated hexaacyl disaccharide (PHAD), a Toll-like receptor 4 agonist. The company is evaluating Gemini as a potential treatment for acute kidney injury (GEM-AKI). It is also developing Gemini as a treatment for chronic kidney disease (GEM-CKD), to reduce hyperinflammation and infection associated with severe burn (GEM-PBI), and to prevent post-surgical infection (GEM-PSI). The release says Gemini's potential has been demonstrated in multiple preclinical models of AKI, CKD and infection, as well as in two Phase 1 clinical studies. The release gives no efficacy data from patients, and the $94 billion market figure is a total addressable market estimate, not a sales forecast.
The annual report explains why AKI is a focus. It says the only current treatment for AKI is supportive care and renal replacement therapy, meaning dialysis. The company says its immunomodulatory approach aims to attenuate the excess inflammation associated with AKI and restore equilibrium.