Risk Factors Update Summary
- The Merger Agreement with AbbVie includes a termination fee of approximately $283.1 million.
- The Merger Agreement restricts the ability to pay dividends during the interim period.
- Fast Track designation allows for more FDA interactions and priority review, benefiting product development.
- The Merger Agreement may make it difficult to attract and retain qualified employees due to uncertainty.
- The European Unitary Patent system and UPC launch may impact patent rights and remedies.
- The company had 334 full-time employees as of December 31, 2023, an increase from 298.
- The EU GDPR and UK GDPR impose strict data protection obligations and penalties.
- The company's state net operating loss carryforwards increased from $438 million to $549 million.
- The company's U.S. federal net operating loss carryforwards increased from $448 million to $533 million.
- The FDA granted Fast Track Designation for emraclidine and CVL-871 for specific treatments.
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=1805387&owner=exclude
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