Risk Factors Update Summary
- Preclinical studies and clinical trials are expensive, time-consuming, and involve uncertain outcomes. This may lead to substantial delays or failure to demonstrate safety and efficacy.
- Accumulated deficit increased from $225 million to $277 million, impacting financial condition and operations.
- Reduction in NOL carryforwards for U.S. federal income tax purposes from approximately $153 million to $150 million.
- Number of full-time employees decreased from 44 to 40, affecting operational capacity and efficiency.
- Outstanding options to purchase common stock decreased from 15,124,546 to 12,961,238 shares.
- Change in status to a smaller reporting company and non-accelerated filer may impact internal control reporting.
- Increased vulnerability to cyberattacks due to hybrid work environment and reliance on third parties for data security.
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=1636651&owner=exclude
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