Company – Scrape Financial
Risk Factors Summary

Risk Factors Update Summary

  • Net losses increased from $157.4 million to $200.1 million for the year ended December 31, 2022.
  • Heightened risks in obtaining marketing authorization in the UK due to Brexit implications.
  • Accumulated deficit increased from $344 million to $544 million as of December 31, 2023.
  • FDA lifted the clinical hold on the IND for VERVE-101, allowing the activation of clinical trial sites.
  • Changes in UK regulatory framework post-Brexit impacting MHRA's role in approving medicinal products.
  • Cash, cash equivalents, and marketable securities increased from approximately $554 million to $624 million.
  • Initiated clinical development of the first product candidate in 2022, expecting many years for marketing approval.
  • European Union pharmaceutical legislation review may impact regulatory data protection and expedited pathways.
  • Federal NOL carryforwards increased from $173 million to $188.6 million as of December 31, 2023.
  • State NOL carryforwards increased from $157 million to $186.1 million as of December 31, 2023.

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=1840574&owner=exclude

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