Risk Factors Update Summary
- Added a new product candidate, an 80mg/1mL auto-injector, expanding options for FUROSCIX patients.
- Identified material weakness in internal controls over financial reporting related to fair value accounting errors.
- Increased federal net operating loss carryforwards from $72 million to $147 million.
- Remediation plan initiated to revise management review controls and enhance assurance on service providers.
- Transitioning to a commercial company, building initial sales force, and increasing full-time employees to 96.
- Failure to remediate material weakness may lead to restatement of financial results and stock price impact.
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=1604950&owner=exclude
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