Risk Factors Update Summary
- Net losses increased from $21.4 million to $25.8 million for the years ended December 31, 2022 and 2023, respectively.
- Accumulated deficit rose from $115 million to $141 million as of December 31, 2022 and 2023.
- Ownership change in January 2009 resulted in $0.6 million of federal net operating loss carryforwards expiring unutilized.
- Cash and cash equivalents decreased from $41 million to $29 million as of December 31, 2022 and 2023.
- Entered into agreements for up to $35 million worth of shares with Lincoln Park Capital Fund, LLC and up to $40 million in "at-the-market" offerings.
- Net proceeds from a follow-on public offering were approximately $10.4 million on March 14, 2024.
- Sales of 2,859,074 shares of common stock via ATM for gross proceeds of approximately $5.3 million.
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.
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