Risk Factors Update Summary
- Revenues from two main customers increased from 45% to 51% and 35% to 40%.
- Otsuka accounted for 20% of total net revenue, down from 8%.
- Accumulated deficit increased from $864 million to $942.3 million.
- The loss of any main customer could result in substantial unsold inventory.
- Patents provide finite terms, with exclusivity for LUPKYNIS until January 2026.
- Failure to obtain regulatory approvals could increase costs and impact sales negatively.
- Risks related to reliance on third parties, including Otsuka, were highlighted.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1600620&owner=exclude
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