Revelation Biosciences Secures FDA OK for Phase 2/3 Gemini Trial, Boosts Cash to $14.1M
Revelation Biosciences secured FDA agreement on a single adaptive Phase 2/3 study of its Gemini candidate for acute kidney injury and raised $6.7 million from a warrant inducement. The company ended Q1 with $14.1 million in cash (up from $10.7 million) and posted a $3.0 million net loss ($2.71/share).
1. FDA Agreement for Gemini Phase 2/3 Study
Revelation has reached agreement with the FDA on a single adaptive Phase 2/3 study design for its Gemini candidate in acute kidney injury, enabling a potential seamless transition from dose-finding to pivotal evaluation. The company has initiated discussions with clinical research organizations to finalize trial logistics.
2. Q1 Financial Performance
For the quarter ended March 31, 2026, Revelation reported $14.1 million in cash and cash equivalents, up from $10.7 million at December 31, 2025, used $3.2 million in operating activities, and recorded a net loss of $3.0 million ($2.71 per share) versus a $2.1 million net loss ($25.34 per share) in Q1 2025.
3. $6.7M Warrant Inducement
In January 2026, Revelation completed a warrant inducement offering that generated $6.7 million in net proceeds, bolstering its liquidity to support ongoing clinical programs.
4. Program Outlook and Cash Runway
Based on current operating plans and projections, the company expects its cash and cash equivalents to fund operations through the first quarter of 2027, supporting the initiation of the Phase 2/3 study and other development milestones for Gemini.