Risk Factors Update Summary
- The Consolidated Appropriations Act delays the 4% Medicare cut to 2024, extends the 2% cut to 2032.
- Net losses increased from $67 million in 2022 to $71 million in 2023.
- Outstanding principal indebtedness increased from $25 million to $45 million.
- The IRA delays to 2032, impacting Medicare Part D, capping out-of-pocket costs at $2,000.
- Accumulated deficit rose from $214 million to $285 million.
- Cash, cash equivalents, and short-term investments rose from $127 million to $188 million.
- Potential patients with ESKD receiving hemodialysis increased from 23,800 to 23,800.
- Merck & Co. lawsuit against HHS and CMS challenges IRA's Drug Price Negotiation Program.
- Outstanding principal indebtedness increased from $5 million to $45 million.
- Potential patients with ABCC6 Deficiency increased from 20,000 to 24,000.
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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