AgeX Therapeutics, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>AgeX Therapeutics, Inc. filed its 2023 10-K, detailing financial performance and business operations.</b>

AI Summary

AgeX Therapeutics, Inc. (SER) filed a Annual Report (10-K) with the SEC on March 22, 2024. AgeX Therapeutics, Inc. reported its 2023 fiscal year-end results on March 22, 2024. The company's principal business address is 1101 Marina Village Parkway, Suite 201, Alameda, CA 94501. AgeX Therapeutics is classified under SIC code 2834 for Pharmaceutical Preparations. The filing includes financial data for the fiscal years ending December 31, 2023, and December 31, 2022. Key dates include the filing date of March 22, 2024, and the fiscal year end of December 31, 2023.

Why It Matters

For investors and stakeholders tracking AgeX Therapeutics, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of AgeX Therapeutics' financial health and strategic direction for the fiscal year 2023, crucial for investors assessing the company's current standing. The detailed financial statements and risk factors within the report offer insights into the company's operational performance and potential challenges in the pharmaceutical preparations sector.

Risk Assessment

Risk Level: medium — AgeX Therapeutics, Inc. shows moderate risk based on this filing. The company operates in the pharmaceutical preparations industry, which is subject to significant regulatory oversight, lengthy development cycles, and substantial competition, posing inherent risks to financial performance and market position.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand AgeX Therapeutics' operational performance and future outlook.

Revenue Breakdown

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-03-22 — Filing Date (Date of submission)
• 2834 — SIC Code (Pharmaceutical Preparations)

Key Players & Entities

• AgeX Therapeutics, Inc. (company) — Filer name
• SER (company) — Ticker symbol
• 2024-03-22 (date) — Filing date
• 2023-12-31 (date) — Fiscal year end
• 2834 (dollar_amount) — Standard Industrial Classification
• 1101 Marina Village Parkway, Suite 201, Alameda, CA 94501 (company) — Business address

FAQ

Industry Context

AgeX Therapeutics operates within the pharmaceutical preparations industry, a sector characterized by rigorous research and development, clinical trials, and regulatory approvals.

Regulatory Implications

The pharmaceutical industry is heavily regulated by bodies like the FDA, requiring adherence to strict guidelines for drug development, manufacturing, and marketing.

What Investors Should Do

1. Review AgeX Therapeutics' detailed financial statements for the fiscal year 2023.
2. Analyze the risk factors section to understand potential challenges and uncertainties.
3. Examine any disclosed executive compensation details and their relation to company performance.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-03-22: Filing Date — Date AgeX Therapeutics, Inc. submitted its 10-K report.

Year-Over-Year Comparison

This filing represents the annual report for the fiscal year ending December 31, 2023, providing updated financial and operational data compared to previous filings.

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share AGE NYSE American Secu
• $13.20 — AgeX ("AgeX Unit") at a price equal to $13.20 per unit and will expire on July 31, 20
• $18.00 — f AgeX common stock at a price equal to $18.00 per warrant and will expire on the four
• $12.00 — on stock being equal to or greater than $12.00 per share, giving effect to the Reverse
• $15 million — vide the Combined Company an additional $15 million in capital according to the following s

Filing Documents

• form10-k.htm (10-K) — 2681KB
• ex3-1.htm (EX-3.1) — 40KB
• ex4-4.htm (EX-4.4) — 32KB
• ex4-5.htm (EX-4.5) — 32KB
• ex10-49.htm (EX-10.49) — 171KB
• ex21-1.htm (EX-21.1) — 7KB
• ex23-1.htm (EX-23.1) — 5KB
• ex31.htm (EX-31) — 33KB
• ex32.htm (EX-32) — 8KB
• ex97-1.htm (EX-97.1) — 38KB
• form10-k_001.jpg (GRAPHIC) — 169KB
• form10-k_002.jpg (GRAPHIC) — 115KB
• form10-k_003.jpg (GRAPHIC) — 25KB
• 0001493152-24-011022.txt (&nbsp;) — 10317KB
• age-20231231.xsd (EX-101.SCH) — 48KB
• age-20231231_cal.xml (EX-101.CAL) — 62KB
• age-20231231_def.xml (EX-101.DEF) — 267KB
• age-20231231_lab.xml (EX-101.LAB) — 459KB
• age-20231231_pre.xml (EX-101.PRE) — 385KB
• form10-k_htm.xml (XML) — 1286KB

Business

Business 9 Item 1A.

Risk Factors

Risk Factors 27 Item 1B. Unresolved Staff Comments 61 Item 1C Cybersecurity 61 Item 2.

Properties

Properties 61 Item 3.

Legal Proceedings

Legal Proceedings 61 Item 4. Mine Safety Disclosures 61 Part II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities 62 Item 6. Reserved 62 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 62 Item 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 69 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 70 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 105 Item 9A.

Controls and Procedures

Controls and Procedures 105 Item 9B. Other Information 106 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 106 Part III Item 10. Directors, Executive Officers, and Corporate Governance 107 Item 11.

Executive Compensation

Executive Compensation 111 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 117 Item 13. Certain Relationships and Related Transactions, and Director Independence 118 Item 14. Principal Accounting Fees and Services 124 Part IV Item 15. Exhibits and Financial Statement Schedules 125 Item 16. Form 10-K Summary 132

Signatures

Signatures 133 1 IMPORTANT PRELIMINARY NOTE Planned Merger with Serina Therapeutics, Inc. and Related Transactions On August 29, 2023, AgeX entered into an Agreement and Plan of Merger and Reorganization (the "Merger Agreement") with Serina Therapeutics, Inc. ("Serina"), and Canaria Transaction Corporation, a wholly owned subsidiary of AgeX ("Merger Sub"). Upon the terms and subject to the satisfaction of the conditions described in the Merger Agreement, Merger Sub will be merged with and into Serina, with Serina surviving as a wholly owned subsidiary of AgeX (the "Merger"). At a special meeting of AgeX stockholders on March 14, 2024 (the "Special Meeting"), AgeX stockholders approved certain proposals required for consummation of the Merger pursuant to the terms of the Merger Agreement. Serina stockholders have also approved the Merger. There is no assurance that all conditions to the Merger will be met or waiver and that the Merger will be consummated. AgeX stockholders will face a number of risks related to the terms of the Merger Agreement and the Merger, some of which risks are described in this Annual Report on Form 10-K ("Report"). References to the "Combined Company" in this Report mean AgeX after the Merger through which AgeX will have acquired Serina. On March 14, 2024 AgeX effected a 1 for 35.17 reverse stock split of its common stock (the "Reverse Stock Split") by filing an amendment to its certificate of incorporation, as approved by AgeX stockholders at the Special Meeting. The Reverse Stock Split resulted in approximately 2,500,000 shares of AgeX common stock being outstanding immediately upon the filing of the amendment to the certificate of incorporation. Except for references to authorized but unissued shares of AgeX common stock, and except as may be otherwise stated in the notes to financial statements, numbers of shares of AgeX common stock issued and outstanding, or issuable upon the exercise of options or warrants or upon conversio

View Full Filing

View this 10-K filing on SEC EDGAR