Serina Therapeutics, Inc.

For the period ended Dec 31, 2025. Filed Mar 25, 2026.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Mar 25, 2026

SER$1.430.0%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Item 8. Consolidated Statements of Cash Flows

	Year Ended December 31,
	2025	2024
OPERATING ACTIVITIES:
Net loss	$(19,215)	$(11,207)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	73	194
Loss on disposal of property and equipment	91	—
Non-cash lease expense	203	227
Non-cash interest expense	138	164
Amortization of debt issuance costs and debt discounts	58	345
Stock-based compensation	3,793	2,595
Common stock issued to consultant for services rendered	226	—
Restricted stock units released to consultant for services rendered	29	—
Change in fair value of convertible promissory notes	—	7,017
Change in fair value of warrants liabilities	(4,263)	(13,156)
Gain on warrants expiration	(724)	—
Loss on sale of subsidiary	166	—
Changes in operating assets and liabilities:
Grant receivable	—	65
Prepaid expenses and other assets	673	(1,906)
Accounts payable	1,197	(1,661)
Accrued expenses	(231)	400
Other current liabilities	18	—
Operating lease liabilities	(187)	(214)
Net cash used in operating activities	(17,955)	(17,137)
INVESTING ACTIVITIES:
Purchase of equipment	(59)	(22)
Net cash used in investing activities	(59)	(22)
FINANCING ACTIVITIES:
Proceeds from the issuance of common stock and warrants to Juvenescence	—	5,000
Drawdown on loan facilities from Juvenescence	—	3,043
Cash and restricted cash acquired in connection with the Merger	—	337
Proceeds from the exercise of stock options	15	12
Proceeds from the exercise of Post-Merger Warrants by Juvenescence	—	4,988
Proceeds from issuance of common stock to Juvenescence, net	4,916	—
Principal repayment on loan facilities to Juvenescence	—	(133)
Principal repayments on finance lease liabilities	—	(35)
Proceeds from issuance of Series A Convertible Preferred Stock, net	4,940	—
Proceeds from issuance of common stock under At-The-Market sales agreement, net	2,628	—
Proceeds from 2025 Convertible Note, net	4,913	—
Net cash provided by financing activities	17,412	13,212
Effect of foreign currency on cash and cash equivalents	(14)	—
NET DECREASE IN CASH AND CASH EQUIVALENTS	(616)	(3,947)
CASH AND CASH EQUIVALENTS:

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
At beginning of the year	3,672	7,619
At end of the year	$3,056	$3,672
Cash paid during the year for interest	$17	$—
SUPPLEMENTAL SCHEDULE OF NONCASH FINANCING AND INVESTING ACTIVITIES:
Issuance of common stock upon conversion of redeemable convertible preferred stock	$—	$36,404
Merger and issuance of common stock upon consummation of Merger on March 26, 2024	$—	$961
Deemed dividend from issuance of warrants	$—	$18,501
Derecognition of Post Merger and Incentive Warrants liability upon exchange transaction	$—	$(1,799)
Issuance of common stock warrants upon exchange transaction	$—	$1,407
Issuance of common stock warrants upon exercise of Post-Merger warrants	$—	$1,372
Extinguishment of debt upon sale of subsidiary	$—	$10,786
Right of use asset acquired in exchange for operating lease liabilities	$115	$—
Transfer of right‑of‑use assets to property and equipment upon title transfer	$75	$—
Issuance of common stock warrants in connection with 2025 Convertible Note	$3,747	$—
Recognition of debt discount on 2025 Convertible Note	$2,112	$—
Reclassification of warrant liability to equity	$1,971	$—

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