S
Serina Therapeutics, Inc.
SERCIK 0001708599NYSENon-AcceleratedSmaller ReportingPharmaceutical PreparationsAlabamaFY ends Dec 31
Period
FY 2025
Revenue
$130.0K
Net Income
$-19.18M
Total Assets
—
Equity
$-37.0K
Shares Out
15.00M
Op. Cash Flow
$-17.95M
Business
Serina Therapeutics, Inc. is a clinical-stage biotechnology company developing a proprietary POZ polymer delivery platform to improve pharmacokinetics and safety of therapeutic modalities, with a focus on neurological diseases. Its main products and programs include POZ-conjugated small molecules (notably SER-252 POZ‑apomorphine and the proof-of‑principle SER-214 POZ‑rotigotine), POZ-lipids for LNPs, and POZ-enabled ADCs and other conjugates. The company operates through internal drug development and collaboration/licensing activities. It conducts preclinical and clinical development and pursues regulatory approvals and partnerships across the U.S., Europe and other global markets, with therapies designed for patient-friendly home administration and partner distribution channels.
Summary from filing dated 2025-03-24
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Total revenues | 130,000 | 56,000 | 3 | 34,000 | 144,000 | |
| Research and development | 13 | 7 | 2 | 1 | 1 | |
| General and administrative | 11 | 10 | 4 | 6 | 7 | |
| Total operating expenses | 24 | 17 | 6 | 7 | 8 | |
| Loss from operations | −24 | −17 | −3 | −7 | −8 | |
| Interest expense | −213,000 | −526,000 | −558,000 | — | — | |
| Change in fair value of convertible promissory notes | 0 | −7 | 5 | — | — | |
| Change in fair value of warrants liabilities | 4 | 13 | 1 | −225,000 | — | |
| Gain on warrants expiration | 724,000 | 0 | — | — | — | |
| Other income, net | 51,000 | 228,000 | — | — | 448,000 | |
| Total other income, net | 5 | 6 | 8 | −4 | −649,000 | |
| Loss before income taxes | −19 | −11 | — | — | −9 | |
| Provision for income taxes | −18,000 | 0 | — | — | — | |
| Net loss | −19 | −11 | 5 | −11 | −9 | |
| Net loss attributable to noncontrolling interest | 33,000 | 66,000 | 0 | 60,000 | — | |
| NET LOSS ATTRIBUTABLE TO SERINA | −19 | −11 | 5 | −10 | −9 | |
| NET LOSS ATTRIBUTABLE TO SERINA THERAPEUTICS, INC. COMMON STOCKHOLDERS, BASIC | −19 | −11 | — | — | — | |
| NET LOSS ATTRIBUTABLE TO SERINA THERAPEUTICS, INC. COMMON STOCKHOLDERS, DILUTED | −19 | −11 | — | — | — | |
| NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDER, BASIC (in usd per share) | −1.91 | −1.51 | 2.36 | −9.7 | −0.23 | |
| NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDER, DILUTED (in usd per share) | −1.91 | −1.51 | 0.73 | −9.7 | — | |
| WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING, BASIC (in shares) | 10 | 7 | 2 | 1,079 | 38 | |
| WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING, DILUTED (in shares) | 10 | 7 | 7 | 1,079 | — |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2024 2024-09-30 | FY 2024 2024-06-30 | FY 2024 2024-03-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 3 | 4 | — | — | — | |
| Prepaid expenses and other current assets | 3 | 2 | — | — | — | |
| Total current assets | 6 | 6 | — | — | — | |
| Property and equipment, net | 465,000 | 501,000 | — | — | — | |
| Right of use assets - operating leases | 377,000 | 461,000 | — | — | — | |
| Right of use assets - finance leases | 0 | 86,000 | — | — | — | |
| Other long-term prepaid assets | 29,000 | 0 | — | — | — | |
| TOTAL ASSETS | 7 | 7 | — | — | — | |
| Accounts payable | 2 | 744,000 | — | — | — | |
| Accrued expenses | 1 | 1 | — | — | — | |
| Warrant liability | 88,000 | 0 | — | — | — | |
| Other current liabilities | 337,000 | 193,000 | — | — | — | |
| Total current liabilities | 4 | 2 | — | — | — | |
| Warrant liability, non-current | 283,000 | 4 | — | — | — | |
| Convertible Note, net | 3 | 0 | — | — | — | |
| Operating lease liabilities, net of current portion | 196,000 | 268,000 | — | — | — | |
| TOTAL LIABILITIES | 7 | 6 | — | — | — | |
| Commitments and contingencies (Note 11) | — | — | — | — | — | |
| Series A convertible preferred stock, $0.0001 par value, 5,000 shares authorized; 965 and zero shares issued and outstanding at December 31, 2025 and 2024, respectively; liquidation preference of $5,000 and zero at December 31, 2025 and 2024, respectively; | 5 | 0 | — | — | — | |
| Common stock, $0.0001 par value, 40,000 shares authorized; and 10,767 and 9,422 shares issued and outstanding at December 31, 2025 and 2024, respectively; (including 57 shares declared as a stock dividend on April 1, 2025 and issued on March 31, 2026) | 1,000 | 1,000 | — | — | — | |
| Additional paid-in capital | 59 | 45 | 28 | 27 | 20 | |
| Accumulated other comprehensive loss | −14,000 | 0 | — | — | — | |
| Accumulated deficit | −64 | −44 | −42 | −43 | −48 | |
| Total Serina Therapeutics, Inc. stockholders (deficit) equity | −37,000 | 641,000 | — | — | — | |
| Noncontrolling deficit | 0 | −133,000 | — | — | — | |
| TOTAL STOCKHOLDERS' (DEFICIT) EQUITY | −37,000 | 508,000 | — | — | — | |
| TOTAL LIABILITIES AND STOCKHOLDERS (DEFICIT) EQUITY | 7 | 7 | — | — | — |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Depreciation and amortization | 73,000 | 194,000 | 90,000 | — | — | |
| Loss on disposal of property and equipment | 91,000 | 0 | — | — | — | |
| Non-cash lease expense | 203,000 | 227,000 | 174,000 | — | — | |
| Non-cash interest expense | 138,000 | 164,000 | 558,000 | — | — | |
| Amortization of debt issuance costs and debt discounts | 58,000 | 345,000 | 0 | 3 | 1 | |
| Stock-based compensation | 4 | 3 | — | — | — | |
| Common stock issued to consultant for services rendered | 226,000 | 0 | — | — | — | |
| Restricted stock units released to consultant for services rendered | 29,000 | 0 | — | — | — | |
| Change in fair value of convertible promissory notes | 0 | 7 | −5 | — | — | |
| Loss on sale of subsidiary | 166,000 | 0 | — | — | — | |
| Grant receivable | 0 | 65,000 | 0 | — | — | |
| Prepaid expenses and other assets | 673,000 | −2 | 16,000 | 896,000 | 760,000 | |
| Accounts payable | 1 | −2 | 393,000 | — | — | |
| Accrued expenses | −231,000 | 400,000 | −140,000 | — | — | |
| Other current liabilities | 18,000 | 0 | −4,000 | −4,000 | −79,000 | |
| Operating lease liabilities | −187,000 | −214,000 | −188,000 | — | — | |
| Net cash used in operating activities | −18 | −17 | −2 | −6 | −8 | |
| Purchase of equipment | −59,000 | −22,000 | — | — | — | |
| Net cash used in investing activities | −59,000 | −22,000 | −504,000 | — | 666,000 | |
| Proceeds from the issuance of common stock and warrants to Juvenescence | 0 | 5 | 0 | — | — | |
| Drawdown on loan facilities from Juvenescence | 0 | 3 | 0 | 6 | 7 | |
| Cash and restricted cash acquired in connection with the Merger | 0 | 337,000 | 0 | — | — | |
| Proceeds from the exercise of stock options | 15,000 | 12,000 | 15,000 | — | — | |
| Proceeds from the exercise of Post-Merger Warrants by Juvenescence | 0 | 5 | 0 | — | — | |
| Principal repayment on loan facilities to Juvenescence | 0 | −133,000 | 0 | — | — | |
| Principal repayments on finance lease liabilities | 0 | −35,000 | −48,000 | — | — | |
| Proceeds from issuance of Series A Convertible Preferred Stock, net | 5 | 0 | — | — | — | |
| Proceeds from 2025 Convertible Note, net | 5 | 0 | 10 | — | — | |
| Net cash provided by financing activities | 17 | 13 | 10 | 6 | 7 | |
| Effect of foreign currency on cash and cash equivalents | −14,000 | 0 | — | — | — | |
| NET DECREASE IN CASH AND CASH EQUIVALENTS | −616,000 | −4 | 7 | 61,000 | 57,000 | |
| Cash paid during the year for interest | 17,000 | 0 | 27,000 | 14,000 | 13,000 | |
| Issuance of common stock upon conversion of redeemable convertible preferred stock | 0 | 36 | 0 | 8,000 | 16,000 | |
| Merger and issuance of common stock upon consummation of Merger on March 26, 2024 | 0 | 961,000 | 0 | — | — | |
| Deemed dividend from issuance of warrants | 0 | 19 | 0 | — | — | |
| Derecognition of Post Merger and Incentive Warrants liability upon exchange transaction | 0 | −2 | 0 | — | — | |
| Issuance of common stock warrants upon exchange transaction | 0 | 1 | 0 | — | — | |
| Issuance of common stock warrants upon exercise of Post-Merger warrants | 0 | 1 | — | — | — | |
| Extinguishment of debt upon sale of subsidiary | 0 | 11 | 0 | — | — | |
| Right of use asset acquired in exchange for operating lease liabilities | 115,000 | 0 | 755,000 | — | — | |
| Transfer of right-of-use assets to property and equipment upon title transfer | 75,000 | 0 | — | — | — | |
| Issuance of common stock warrants in connection with 2025 Convertible Note | 4 | 0 | — | — | — | |
| Recognition of debt discount on 2025 Convertible Note | 2 | 0 | — | — | — | |
| Reclassification of warrant liability to equity | 2 | 0 | — | — | — |
Filings
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