Risk Factors Update Summary
- Development costs will increase due to repeat studies, additional monitoring, and corrective actions.
- Lead product candidate RP1 will continue development, with potential future candidates RP2 and RP3.
- Accumulated deficit increased from $485 million to $701 million at March 31, 2024.
- Cash and cash equivalents decreased from $583 million to $420 million at March 31, 2024.
- Transition in executive leadership poses inherent risks and loss of institutional knowledge.
- Sale of up to $100 million of common stock may occur, impacting dilution.
- Hercules Loan Agreement was amended in June 2023 and December 2023, affecting 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=1737953&owner=exclude
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