Risk Factors Update Summary
- Net loss increased from $12 million in 2022 to $18 million in 2023.
- Accumulated deficit rose from $322.3 million to $344.3 million.
- A significant reduction-in-force was initiated in July 2023 to reduce expenses.
- Revenues decreased from $24.4 million in 2021 to $20.0 million in 2022.
- Proceeds of approximately $41 million were received based on estimated market capitalization.
- Losses and negative operating cash flows may continue, impacting profitability.
- A deficiency notice was received from Nasdaq due to the closing bid price being below $1.00.
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=1389002&owner=exclude
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