Risk Factors Update Summary
- Cash, cash equivalents, and marketable securities decreased from $189 million to $114 million in 2022, and from $189 million to $114 million in 2023.
- Growing capability to conduct clinical trials may lead to significant costs and divert resources.
- Net losses decreased from $136 million to $102 million in 2022, and from $185 million to $136 million in 2023.
- Net operating loss carryforwards increased from $199 million to $265 million in 2023.
- Accumulated deficit increased from $492 million to $594 million.
- Changes in tax laws could have a material impact on future U.S. tax expense.
- The Sarbanes-Oxley Act of 2002 may result in significant legal, accounting, and other expenses.
- New EU-U.S. Data Privacy Framework effective July 10, 2023, allows transfers of personal data.
- Recent turmoil in the global banking system may impact cash balances and financial stability.
- Unfavorable global economic conditions could adversely affect 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=1787297&owner=exclude
This content requires a 'Free' membership to view. Please create one here.
This content requires a 'Free' membership to view. Please create one here.