Revelation reports Q3 2026 results, cites $94B Gemini market and CRO pick for AKI study

Revelation Biosciences reported financial results for the three and nine months ended September 30, 2026 on November 5, 2026. The company released results of an independent market assessment that showed a potential $94 billion total addressable market for Gemini, and it announced that it has selected a full-service contract research organization with global operations to serve as the CRO for its upcoming study evaluating Gemini in patients with acute kidney injury (AKI).¹

CEO James Rolke said "The Revelation team remains focused on progressing Gemini's development for the benefit of patients,"¹ and added that the company looks forward to providing updates.

Gemini is Revelation's proprietary formulation of phosphorylated hexaacyl disaccharide (PHAD), a toll-like receptor 4 (TLR4) agonist that the company says rebalances the innate immune response and has potential to treat acute and chronic diseases tied to dysregulated inflammation. It is currently being evaluated for acute kidney injury (GEM-AKI), and is also in development for chronic kidney disease (GEM-CKD), severe burn-related hyperinflammation and infection (GEM-PBI), and prevention of post-surgical infection (GEM-PSI).¹ The company says Gemini's potential to correct dysregulated inflammation has been shown in multiple preclinical models of AKI, CKD, and infection, as well as in two Phase 1 clinical studies.¹

On financing, Revelation had $9.1 million in cash and cash equivalents as of September 30, 2026, compared to $10.7 million as of December 31, 2025.¹ The company attributed the decrease primarily to cash used for operating activities, offset by net proceeds from a January 2026 warrant inducement.¹ Revelation said that based on its current operating plans and projections, its cash and cash equivalents are sufficient to fund operations into the second quarter of 2027.¹