Risk Factors Update Summary
- Examples of therapies for neurodegenerative diseases that failed after regulatory approval, e.g., ADUHELM®.
- Net loss increased from $68 million to $82 million for the year ended December 31, 2022.
- Net operating loss carryforwards increased from $95.7 million to $98.3 million.
- Accumulated deficit rose from $140 million to $222 million as of December 31, 2022.
- Full-time employees increased from 56 to 69, impacting operations and development capabilities.
- Additional financing needed to fund operations into the second half of 2025.
- Sales of 1,000,000 shares of common stock under the ATM program generated $3.2 million.
- Approximately $96.7 million of common stock remained available for issuance under the ATM program.
- Potential delays in clinical trials due to external factors like the COVID-19 pandemic.
- Increased insurance coverage required for expanded clinical trial activities and commercialization efforts.
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=1827087&owner=exclude
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