Risk Factors Update Summary
- Accumulated deficit increased from $274 million to $320 million as of December 31, 2023.
- Commercial organization expanded from 123 to 166 employees in the U.S. and from 9 to 14 employees in Europe.
- Sales of OviTex products accounted for 67%, 70%, and 78% of total revenue for the years ended December 31, 2023, 2022, and 2021, respectively.
- Number of issued or allowed U.S. patents increased from 17 to 19, pending U.S. patent applications increased from 16 to 19, and non-U.S. patents increased from 3 to 5.
- Federal and state net operating loss carry forwards increased from approximately $212 million to $239 million and from $173 million to $196 million, respectively.
- The FDIC took Silicon Valley Bank into receivership on March 10, 2023.
- The state net operating loss carry forwards will begin expiring in 2027.
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=1561921&owner=exclude
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