Risk Factors Update Summary
- Investors could lose confidence in the accuracy and completeness of financial reports, leading to a decline in stock price.
- Substantial doubt raised on ability to continue due to need for additional funding. This may lead to delays or termination of operations.
- Failure to remedy material weaknesses could result in sanctions, diverting management's attention.
- Ceased development of ONA-XR, focusing on CTIM-76. Expect IND filing by March 2024.
- Inability to comply with Section 404 requirements may restrict future access to capital markets.
- Reduced future payments under Integral License Agreement from $55M to $15M, sales milestones from $130M to $12.5M, and royalty rate to 6%.
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=1842952&owner=exclude
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