Risk Factors Update Summary
- Entered into an Open Market Sale Agreement for up to $100.0 million in common stock.
- Revenue decreased from $59.1 million in 2022 to $34.2 million in 2023.
- The passage of the Plan Act of 2021 eliminated the statutory Medicaid drug rebate cap.
- Net loss increased from $22.3 million in 2022 to $50.6 million in 2023.
- New agreement with Jefferies LLC for potential future stock sales up to $100.0 million.
- Three partners accounted for 72% of revenue in 2022, decreased to 58% in 2023.
- Increased competition in the field of drug research, including new companies like Bruker Corporation.
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=1846253&owner=exclude
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