Risk Factors Update Summary
- Net losses increased from $23.6 million in 2022 to $37.9 million in 2023.
- Accumulated deficit rose from $137 million to $175 million, with a $38 million increase.
- Regulatory approval in other countries may require establishing a Master or Technical File.
- Laws and regulations could impact the value of patents and enforcement efforts.
- Revenue from technology systems decreased from 51% to 45% in 2023.
- Failure to establish regulatory files could lead to resource constraints and missed growth opportunities.
- Becoming a U.S.-listed public company increases legal, accounting, and compliance costs significantly.
- Launch of GMP-compliant processing assemblies was removed from the VLx platform development.
- Revenue from international markets increased from 21% to 26% in 2023.
- Compliance with new rules and regulations may strain resources and divert management's attention.
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=1287098&owner=exclude
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