Risk Factors Update Summary
- The company may be required to complete a wind down of operations and seek bankruptcy protection.
- Identified conditions raise substantial doubt about the ability to continue as a going concern.
- Cash, cash equivalents, and marketable securities decreased from $64 million to $3 million.
- Workforce reduced by approximately 30%, increasing the likelihood of turnover of key employees.
- Strategic realignment may result in disruptions to business and may not achieve expected benefits.
- The company may need to seek funds through collaboration partners, potentially relinquishing rights.
- Proposed dissolution and liquidation may not be completed, impacting stockholders and business operations.
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=1538210&owner=exclude
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