Risk Factors Update Summary
- The accumulated deficit increased from $376 million to $477 million as of December 31, 2022 and 2023, respectively.
- Cash and cash equivalents decreased from $121 million to $99 million as of December 31, 2022 and 2023, respectively.
- The minimum bid price requirement for Nasdaq listing is $1.00 per share, with a Compliance Date of May 13, 2024.
- Short-term marketable securities decreased from $15.0 million to $7.2 million as of December 31, 2022 and 2023, respectively.
- U.S. federal and state NOLs decreased from $342 million and $336 million to $400 million and $389 million, respectively.
- Full-time employees increased from 70 to 93 as of December 31, 2022 and 2023, respectively.
- The potential delisting from Nasdaq could impact the ability to raise equity capital and the market price of common stock.
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.
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