Company – Scrape Financial
Risk Factors Summary

Risk Factors Update Summary

  • Operating activities used net cash of approximately $31.5 million in 2022, decreased to $5.7 million in 2023.
  • Cash and cash equivalents decreased from approximately $44 million in 2022 to $43 million in 2023.
  • Revenue primarily derived from one order of ANTHIM® in 2023, compared to grant revenue in 2022.
  • Cybersecurity risks are now reviewed annually by the Board of Directors, enhancing oversight processes.
  • Accumulated deficit increased from $209 million in 2022 to $254 million in 2023.
  • Need to raise additional capital highlighted due to continued losses and operating activities.
  • Acknowledged prevalent cyber threats and potential future incidents that could impact financials.
  • Net loss increased from approximately $43.9 million in 2022 to $46.8 million in 2023.
  • Material weakness in internal controls over financial reporting identified and still exists as of December 31, 2023.
  • Prior cybersecurity incidents have not materially affected the company's operations or financials.

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=1476963&owner=exclude

Click here to download the PDF

This content requires a 'Free' membership to view. Please create one here.
This content requires a 'Free' membership to view. Please create one here.