Risk Factors Update Summary
- Net losses increased significantly from $138.6 million to $374.1 million in 2022.
- Accumulated deficit rose from $441 million to $816 million.
- R&D expenses increased from $64.3 million to $91.2 million in 2022.
- Total outstanding debt increased from $40 million to $44 million.
- Reduction in force affected approximately 180-200 employees to reduce redundancies.
- Cybersecurity risks and incidents could disrupt operations and result in financial losses.
- Material weaknesses in internal controls could impact financial reporting accuracy and compliance.
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=1816581&owner=exclude
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