ADTX on OTC

Aditxt, Inc.

Aditxt, Inc. is an American pharmaceutical preparations company based in Richmond.2 Its shares trade on OTC under the symbol ADTX.2

$0.00 up 0.00 (0.00%)Price as of Oct 15, 2026 at 14:59 UTC

Last updated Oct 21, 2026.

Overview

Compare with One World Products, Inc., Processa Pharmaceuticals, Inc. or ZIOPHARM Oncology, or pick any stock.

  • TickerADTX on OTC2
  • IndustryPharmaceutical Preparations2
  • HeadquartersMountain View, United States2
  • Incorporated inDE4
  • Business address737 N. Fifth Street, Suite 200, Richmond, Va 232194
  • Filer categoryNon-accelerated filer, Smaller reporting company4
  • Legal formCorporation2
  • LEI529900NYTSP9EB7RD7412
  • StatusActive2
  • LEI statusIssued and current2
  • Registered addressc/o SPI AGENT SOLUTIONS, INC., 300 CREEK VIEW ROAD, SUITE 209, 19711 Newark, United States2
  • Registered withDivision of Corporations, Department of State, 65605192

Manufacturing Practices (GMP) clinical-grade drug substances have been successfully manufactured by a qualified contract manufacturer.5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

8.4%Gross margin6
-612542.2%Operating margin6
-1349028.2%Net margin6
-97.6%Revenue growth, 20256
-768.3%Return on equity6
-$25.7MFree cash flow6

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue0¢$2.9K
  • Research and development100¢$3.2M

Out of $3.2K in revenue.6 The company lost money this year.

Financial statements

Revenue7896$3.2K in 2025−97% since 2021
0$250.0K$500.0K$750.0K$1.0M2021: $105.0K$105.0K20212022: $933.7K$933.7K2022+789%2023: $645.2K$645.2K2023−31%2024: $134.0K$134.0K2024−79%2025: $3.2K$3.2K2025−98%
Gross profit7896$268 in 2025−99% since 2021
-$600.0K-$400.0K-$200.0K0$200.0K2021: $27.1K$27.1K20212022: $166.9K$166.9K2022+517%2023: -$111.7K-$111.7K20232024: -$493.5K-$493.5K2024+342%2025: $268$2682025
Operating income10117896-$19.6M in 2025+233% since 2019
-$60.0M-$40.0M-$20.0M02019: -$5.9M-$5.9M20192020: -$8.9M-$8.9M2020+51%2021: -$41.9M-$41.9M2021+373%2022: -$25.5M-$25.5M2022−39%2023: -$26.1M-$26.1M2023+2%2024: -$27.9M-$27.9M2024+7%2025: -$19.6M-$19.6M2025−30%
Net income10117896-$43.1M in 2025+640% since 2019
-$60.0M-$40.0M-$20.0M02019: -$5.8M-$5.8M20192020: -$9.1M-$9.1M2020+57%2021: -$46.4M-$46.4M2021+407%2022: -$27.6M-$27.6M2022−40%2023: -$32.7M-$32.7M2023+18%2024: -$40.4M-$40.4M2024+23%2025: -$43.1M-$43.1M2025+7%

Every line of the income statement as filed: the last 2 fiscal years, latest first.6

Period ending2025-12-312024-12-31
Sales$3.2K$134.0K
Cost of goods sold$2.9K$627.5K
Gross profit (loss)$268-$493.5K
General and administrative expenses $0 and $33,071in stock-based compensation, respectively$16.0M$16.3M
Research and development $10,000 and $6,712,663 in stock-based compensation, respectively$3.2M$10.9M
Sales and marketing $473,311 and $0 in stock-based compensation, respectively$402.0K$197.9K
Total operating expenses$19.6M$27.4M
NET LOSS FROM OPERATIONS-$19.6M-$27.9M
Interest expense-$681.2K-$4.2M
Interest income$200.2K$1.5K
Amortization of debt discount-$1.7M-$3.2M
Gain (loss) on note exchange agreement-$208.7K
Change in fair value of derivative liability$14.5K$414.5K
Change in fair value of Evofem warrants$2.8M
Impairment of Evofem F-1 Preferred Stock-$23.8M
Bargain purchase gain from purchase of Evofem convertible notes$328.1K
Impairment of fixed assets-$412.0K
Total other expense-$23.2M-$7.2M
Net loss before income taxes-$42.8M-$35.0M
Deemed Dividends-$1.4M-$5.9M
NET LOSS ATTRIBUTABLE TO NON-CONTROLLING INTEREST-$1.1M-$573.6K
NET LOSS ATTRIBUTABLE TO ADITXT, INC. & SUBSIDIARIES-$43.1M-$40.4M
Net loss per share, basic (in Dollars per share)-$1,153.83-$22,147,415.22
Net loss per share, diluted (in Dollars per share)-$1,153.83-$22,147,415.22
Weighted average number of shares outstanding during the period, basic (in Shares)37.4K shares2 shares
Weighted average number of shares outstanding during the period, diluted (in Shares)37.4K shares2 shares
Net Loss-$42.8M-$35.0M
Change in valuation of Evofem note$1.3M
TOTAL COMPREHENSIVE LOSS-$41.5M-$35.0M
Stock-based compensation$32.9K

Compare Aditxt, Inc. with another company

Corporate structure

Aditxt, Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Aditxt, Inc.

  • Christopher Castillo Filed SCHEDULE 13G/A on Aditxt, Inc., latest Jul 2, 2026 (2 filings since Jul 2, 2026)
  • Jerzy Stanislaw Wojcik Filed SCHEDULE 13G on Aditxt, Inc., latest Jun 26, 2026
  • Takeover Time 2026 LLC Filed SCHEDULE 13D/A on Aditxt, Inc., latest Jun 25, 2026 (2 filings since Jun 22, 2026)
  • Andy Ni Filed SCHEDULE 13G/A on Aditxt, Inc., latest Jun 24, 2026 (2 filings since Jun 15, 2026)
  • Jonathan Edward Hester Filed SCHEDULE 13G/A on Aditxt, Inc., latest Jun 24, 2026 (2 filings since Jun 22, 2026)
  • Wey Ann Tai Filed SCHEDULE 13G/A on Aditxt, Inc., latest Jun 24, 2026 (2 filings since Jun 23, 2026)
  • Emil Cristian Burciu Filed SCHEDULE 13G on Aditxt, Inc., latest Jun 23, 2026
  • Justin Ching-Johnson Filed SCHEDULE 13G/A on Aditxt, Inc., latest Jun 22, 2026 (2 filings since Jun 18, 2026)
  • Jeongho Lee Filed SCHEDULE 13G on Aditxt, Inc., latest Jun 18, 2026
  • Joshua Thomas Shinkle Filed SCHEDULE 13G on Aditxt, Inc., latest Jun 17, 2026
  • Devon Xin Xu Filed SCHEDULE 13G/A on Aditxt, Inc., latest Jun 11, 2026 (2 filings since Jun 11, 2026)
  • Rodriguez Agustin Diaz Filed SCHEDULE 13G on Aditxt, Inc., latest Jun 11, 2026
  • Aditxt, Inc. Mountain View, California, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Aditxt, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$3.0M6 Dec 31, 2025$3.4M6 Dec 31, 2024−11.7%
Accumulated depreciation$2.1M6 Dec 31, 2025$1.8M6 Dec 31, 2024+14.6%
Property and equipment, net$880.2K6 Dec 31, 2025$1.5M6 Dec 31, 2024−43.1%
Operating-lease assets (leased space)$1.2M6 Dec 31, 2025$1.2M6 Dec 31, 2024−1.7%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$833.0K9 Dec 31, 2024$97.1K9 Dec 31, 2023+757.9%

Intangibles and goodwill

ItemLatestA year beforeChange
Intangible assets, net (excluding goodwill)$2.8K6 Dec 31, 2025$6.1K6 Dec 31, 2024−54.5%
Finite-lived intangibles, gross$331.0K6 Dec 31, 2025$331.0K6 Dec 31, 20240%
Accumulated amortization-$328.2K6 Dec 31, 2025-$324.9K6 Dec 31, 2024−1.0%
Finite-lived intangibles, net$2.8K6 Dec 31, 2025$6.1K6 Dec 31, 2024−54.5%

Inventory

ItemLatestA year beforeChange
Inventory, total$5.8K6 Dec 31, 2025$11.2K6 Dec 31, 2024−48.7%

Properties, in its own words

We lease property consisting of office and laboratory space located at 2569 Wyandotte, St., Suite 101 Mountain View, CA 94043. On March 20, 2025, the Company entered an amendment to the Mountain View lease, extending the term through March 31, 2028. As of December 31, 2025 the Company is current on our Mountain View lease.

We lease property consisting of office and laboratory space located at 737 N. 5th Street Richmond, Virginia 23219. The lease expires on August 31, 2026, subject to extension. As of December 31, 2025 the Company is in default on the lease in the amount of $159,375 due to an outstanding security deposit.

Item 2 of the 10-K filed Mar 31, 2026.5

Leadership

Who has led Aditxt, Inc., and when. Pick a name to see everywhere that person has worked.

Board members and other officers (14)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • DirectorBrian Brady named Aug 17, 2022 to Jan 23, 202431

Former names

  • ADiTx Therapeutics, Inc.Nov 23, 2020 to Jul 6, 20214

Timeline

  1. Oct 15, 20268-K Entered a material agreement; Ended a material agreement32
  2. Sep 23, 20268-K Listing notice or transfer33
  3. Aug 19, 20268-K Other events34
  4. Jul 17, 20268-K Entered a material agreement; Unregistered sale of shares35
  5. Jun 24, 20268-K Listing notice or transfer36
  6. Jun 23, 20268-K Entered a material agreement; Unregistered sale of shares; Regulation FD disclosure37
  7. Jun 10, 20268-K Entered a material agreement; Regulation FD disclosure38
  8. Jun 9, 20268-K Entered a material agreement; Unregistered sale of shares39
  9. Jun 5, 20268-K Executive or director change40
  10. Jun 1, 20268-K Executive or director change; Regulation FD disclosure41
  11. May 29, 20268-K Listing notice or transfer42
  12. May 15, 20268-K Change to shareholders' rights; Bylaws or fiscal year changed; Regulation FD disclosure43
  13. Jul 9, 2020New chief executive Amro A. Albanna becomes CEO15
  14. Sep 28, 2017Founded Aditxt, Inc. is founded2

Filings

437 filings to the SEC since October 2021: 8 annual reports, 14 quarterly reports, 198 major events, 51 insider forms, 29 large holders, 3 private raises, 134 other. The latest 20:

  1. Oct 15, 20268-K CURRENT REPORT EDGAR
  2. Oct 7, 202625-NSE EDGAR
  3. Sep 23, 20268-K CURRENT REPORT EDGAR
  4. Aug 19, 20268-K CURRENT REPORT EDGAR
  5. Jul 17, 20268-K CURRENT REPORT EDGAR
  6. Jul 2, 2026SCHEDULE 13G/A EDGAR
  7. Jul 2, 2026SCHEDULE 13G EDGAR
  8. Jun 26, 2026SCHEDULE 13G EDGAR
  9. Jun 25, 20264 PRIMARY DOCUMENT EDGAR
  10. Jun 25, 2026SCHEDULE 13D/A EDGAR
  11. Jun 24, 20264 PRIMARY DOCUMENT EDGAR
  12. Jun 24, 2026SCHEDULE 13G/A EDGAR
  13. Jun 24, 2026SCHEDULE 13G/A EDGAR
  14. Jun 24, 20264 PRIMARY DOCUMENT EDGAR
  15. Jun 24, 20263 PRIMARY DOCUMENT EDGAR
  16. Jun 24, 2026SCHEDULE 13G/A EDGAR
  17. Jun 24, 20268-K CURRENT REPORT EDGAR
  18. Jun 23, 20263 PRIMARY DOCUMENT EDGAR
  19. Jun 23, 2026SCHEDULE 13G EDGAR
  20. Jun 23, 2026SCHEDULE 13G EDGAR

The 437 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

26 open-market trades by officers, directors and large owners since October 2021: 10 buys and 16 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jun 23, 2026Takeover Time 2026 LLC10% ownerSale3,420,439$0.02$68.4KForm 4
Jun 22, 2026HRT FINANCIAL LP10% ownerSale5,120,480$0.02$102.4KForm 4
Jun 18, 2026HRT FINANCIAL LP10% ownerBuy7,340,178$0.01$73.4KForm 4
Jun 17, 2026DRW Securities, LLC10% ownerSale126,772$0.01$1.3KForm 4
Jun 16, 2026HRT FINANCIAL LP10% ownerSale3,132,480$0.01$31.3KForm 4
Jun 15, 2026HRT FINANCIAL LP10% ownerBuy2,114,344$0.01$21.1KForm 4
Jun 12, 2026HRT FINANCIAL LP10% ownerBuy4,252,767$0.02$85.1KForm 4
Jun 11, 2026HRT FINANCIAL LP10% ownerSale2,833,463$0.01$28.3KForm 4
Jun 11, 2026BOFA SECURITIES, INC.10% ownerBuy7$0.01Form 4
Jun 11, 2026BOFA SECURITIES, INC.10% ownerSale15$0.01Form 4
Jun 10, 2026HRT FINANCIAL LP10% ownerBuy725,330$0.02$14.5KForm 4
Jun 9, 2026Gong Sandie10% ownerSale100,000$0.07$7.0KForm 4
Jun 9, 2026HRT FINANCIAL LP10% ownerSale878,659$0.03$26.4KForm 4
Jun 8, 2026HRT FINANCIAL LP10% ownerBuy1,423,493$0.05$71.2KForm 4
Jun 5, 2026HRT FINANCIAL LP10% ownerSale735,462$0.06$44.1KForm 4
Jun 4, 2026HRT FINANCIAL LP10% ownerBuy843,622$0.08$67.5KForm 4
Apr 24, 2026HRT FINANCIAL LP10% ownerSale29,404$0.28$8.2KForm 4
Apr 23, 2026HRT FINANCIAL LP10% ownerSale3,811$0.29$1.1KForm 4
Apr 22, 2026HRT FINANCIAL LP10% ownerSale11,982$0.30$3.6KForm 4
Apr 21, 2026HRT FINANCIAL LP10% ownerBuy72,912$0.33$24.1KForm 4

All 26 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

  • Christopher CastilloSCHEDULE 13G/A, 2 filings Jul 2, 202644
  • Jerzy Stanislaw WojcikSCHEDULE 13G, 1 filing Jun 26, 202645
  • Takeover Time 2026 LLCSCHEDULE 13D/A, 2 filings Jun 22, 2026 to Jun 25, 202646
  • Andy NiSCHEDULE 13G/A, 2 filings Jun 15, 2026 to Jun 24, 202647
  • Jonathan Edward HesterSCHEDULE 13G/A, 2 filings Jun 22, 2026 to Jun 24, 202648
  • Wey Ann TaiSCHEDULE 13G/A, 2 filings Jun 23, 2026 to Jun 24, 202649
  • Emil Cristian BurciuSCHEDULE 13G, 1 filing Jun 23, 202650
  • Justin Ching-JohnsonSCHEDULE 13G/A, 2 filings Jun 18, 2026 to Jun 22, 202651
  • Jeongho LeeSCHEDULE 13G, 1 filing Jun 18, 202652
  • Joshua Thomas ShinkleSCHEDULE 13G, 1 filing Jun 17, 202653
  • Devon Xin XuSCHEDULE 13G/A, 2 filings Jun 11, 202654
  • Rodriguez Agustin DiazSCHEDULE 13G, 1 filing Jun 11, 202655
  • Eugene Reagan DunnSCHEDULE 13G, 1 filing Jan 30, 202656
  • CVI Investments, Inc.SC 13G/A, 3 filings Sep 27, 2022 to Feb 14, 202457
  • INTRACOASTAL CAPITAL, LLCSC 13G/A, 3 filings Sep 26, 2022 to Feb 6, 202458
  • SABBY MANAGEMENT, LLCSC 13G/A, 3 filings Jan 4, 2022 to Jan 2, 202459

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Amro Albanna56$500.0K60
2025Thomas J. Farley52$395.0K60
2025Corinne Pankovcin59$385.0K60
2025Shahrokh ShabahangD.D.S., MS, Ph.D.$325.0K60
2024Chief Executive Officer and Director$500.0K60
2024Chief Financial Officer$395.0K60
2024Chief Mergers & Acquisitions Officer$385.0K60
2024Chief Innovation Officer$325.0K60

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Dec 29, 2023Raised $6 million in a private offering of equity Form D: 1 investor so far Form D
  2. Sep 6, 2023Raised $10 million in a private offering of equity Form D: 1 investor so far Form D
  3. Aug 4, 2022Raised $2 million in a private offering of securities Form D: $2.2 million offered in all Form D

SEC filer profile

How Aditxt, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARAditxt, Inc.1
  • CIK0001726711
  • Employer ID (EIN)82-32043285
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company5
  • Incorporated inDelaware5
  • Fiscal year endsDecember 311
  • Industry code (SIC)2834 Pharmaceutical Preparations1
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance1
  • Business address737 N. Fifth Street, Suite 200, Richmond, VA 232191
  • Phone909-488-08441
  • Shares outstanding815,921 as of May 20, 202614
  • Public float$4.3M as of Jun 30, 20255
  • Auditordbbmckennon, San Diego, California PCAOB ID 3501; no auditor attestation of internal control over financial reporting5
  • On EDGAR sinceMar 29, 20181
  • Filings599 in all: 8-K (205), 4 (60), CORRESP (34), UPLOAD (30), 3 (27), 10-Q (18), S-1/A (16), 425 (15)1
    All 53 form types

    424B5 (14), 8-K/A (14), EFFECT (12), SCHEDULE 13G (12), 424B3 (10), DEF 14A (10), PRE 14A (10), S-1 (9), 1-A/A (7), SC 13G/A (7), 10-K (6), D (6), SCHEDULE 13G/A (6), FWP (5), NT 10-Q (5), SC 13G (5), 10-K/A (4), 4/A (4), DEFA14A (4), PRER14A (4), S-3 (4), 424B4 (3), DEFR14A (3), DRSLTR (3), 253G2 (2), DRS (2), DRS/A (2), NT 10-K (2), S-3/A (2), S-8 (2), 1-A (1), 1-A-W (1), 1-SA (1), 1-Z (1), 25-NSE (1), 3/A (1), 5 (1), 8-A12B (1), CERT (1), CT ORDER (1), QUALIF (1), RW (1), S-1MEF (1), SCHEDULE 13D (1), SCHEDULE 13D/A (1)

  • Latest filingsAnnual report (10-K) Mar 31, 2026
    Quarterly report (10-Q) May 20, 2026
    Proxy statement (DEF 14A) Apr 3, 2026
    Latest 8-K (8-K) Oct 15, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.001 per shareADTXThe Nasdaq Stock Market LLC

From the cover page of the 10-K filed Mar 31, 2026 (Section 12(b) of the Exchange Act).5

Risk factors and legal proceedings

The risks Aditxt, Inc. names in Item 1A of its 10-K filed Mar 31, 2026: 60 risks under these headings, as written.5

  • Risks Related to Our Financial Position and Need for Capital
  • Our financial situation creates doubt whether we will continue as a going concern.
  • Our ability to have our securities traded on the Nasdaq Capital Market is subject to us meeting applicable listing criteria.
  • We have generated no significant revenue from commercial sales to date and our future profitability is uncertain.
  • If we fail to obtain the capital necessary to fund our operations, we will be unable to continue or complete our product development and you will likely lose your entire investment.
  • We may need to raise additional funding, which may not be available on acceptable terms, or at all. Failure to obtain this necessary capital when needed may force us to delay, limit or terminate our product development efforts or other operations.
  • Even if we can raise additional funding, we may be required to do so on terms that are dilutive to you.
  • Risks Related to Product Development, Regulatory Approval, Manufacturing and Commercialization
  • The regulatory approval process is expensive, time-consuming and uncertain and may prevent us from obtaining approvals for the commercialization of our future product candidates, if any.
  • We may encounter substantial delays in completing our clinical studies which in turn will require additional costs, or we may fail to demonstrate adequate safety and efficacy to the satisfaction of applicable regulatory authorities.
  • If our future pre-clinical development and future clinical Phase I/II studies are unsuccessful, we may be unable to obtain regulatory approval of, or commercialize, our product candidates on a timely basis or at all.
  • Even if we receive regulatory approval for any of our product candidates, we may not be able to successfully commercialize the product and the revenue that we generate from their sales, if any, may be limited.
The other 49 risks
  • Adverse events involving our products may lead the FDA or applicable foreign regulatory agency to delay or deny clearance for our products or result in product recalls that could harm our reputation, business and financial results.
  • The in-licensing of technologies and the successful testing and early development of technologies in the laboratory may not be indicative of future results and may not result in commercially viable technologies or products. Further, our future products may have to be modified from their originally conceived versions in order to reach or be successful in the market.
  • Complying with numerous regulations pertaining to our business is an expensive and time-consuming process, and any failure to comply could result in substantial penalties.
  • Risks Related to the Company and our Business
  • Certain technologies are subject to licenses from LLU and Stanford, each of which are revocable in certain circumstances, including in the event we do not achieve certain payments and milestone deadlines. Without these licenses, we may not be able to continue to develop our product candidates.
  • Our results of operations will be affected by the level of royalty and milestone payments that we are required to pay to third parties.
  • We face substantial competition, which may result in others discovering, developing or commercializing products before or more successfully than we do.
  • Our technologies and products under development, and our business, may fail if we are not able to successfully commercialize them and ultimately generate significant revenues as a result.
  • Customers may not adopt our products quickly, or at all.
  • The significant level of competition in the markets for our products developed in the future may result in pricing pressure, reduced margins or the inability of our future products to achieve market acceptance.
  • We rely on third parties for the distribution of our current and future products, including our AditxtScore™ platform. If these parties do not distribute our products in a satisfactory or timely manner, in sufficient quantities or at an acceptable cost, our sales and development efforts could be delayed or otherwise negatively affected.
  • We may rely on third parties for the production of our future products. If these parties do not produce our products at a satisfactory quality, in a timely manner, in sufficient quantities or at an acceptable cost, our sales and development efforts could be delayed or otherwise negatively affected.
  • If we are unable to establish successful relations with third-party market partners or distributors, or these market partners or distributors do not focus adequate resources on selling our products or are otherwise unsuccessful in selling them, sales of our products may not develop.
  • If we are not able to attract and retain highly skilled employees and contractors, we may not be able to implement our business model successfully.
  • The loss of our management team or other key personnel would have an adverse impact on our future development and impair our ability to succeed.
  • The commercial success of our in-development and future diagnostic tests and services depends upon attaining significant market acceptance among payers, providers, clinics, patients, and biopharmaceutical companies.
  • The use of our products may be limited by regulations, and we may be exposed to product liability and remediation claims.
  • We may be held liable for, or incur costs to settle, liability and remediation claims if any products we develop, or any products that use or incorporate any of our technologies, cause injury or are found unsuitable during product testing, manufacturing, marketing, sale or use. These risks exist even with respect to products that have received, or may in the future receive, regulatory approval, registration or clearance for commercial use. We cannot guarantee that we will be able to avoid product liability exposure.
  • Our ability to offer new products and continue the development of our existing products, depends upon us maintaining strong relationships with health care professionals.
  • We operate in a highly competitive industries and we may be unable to compete effectively.
  • There may be limitations on the effectiveness of our internal controls, and a failure of our control systems to prevent error or fraud may materially harm our Company.
  • Risks Related to Our Acquisition Strategy
  • Our acquisition strategy exposes us to substantial risk.
  • We may experience difficulty as we evaluate, acquire and integrate businesses that we may acquire, which could result in drains on our resources, including the attention of our management, and disruptions of our on-going business.
  • We may not be able to effectively integrate the businesses that we acquire.
  • The integration of our acquisitions may result in significant accounting charges that adversely affect the announced results of our Company.
  • Our planned acquisitions may result in unexpected consequences to our business and results of operations.
  • Failure to manage our growing and changing business could have a material adverse effect on our business, prospects, financial condition, and results of operations.
  • We face competition for businesses that fit our acquisition strategy and, therefore, we may have to acquire targets at sub-optimal prices or, alternatively, forego certain acquisition opportunities.
  • We may not be able to successfully fund acquisitions due to the unavailability of equity or debt financing on acceptable terms, which could impede the implementation of our acquisition strategy.
  • We may change our management and acquisition strategies without the consent of our stockholders, which may result in a determination by us to pursue riskier business activities.
  • In the future, we may seek to enter into credit facilities to help fund our acquisition capital and working capital needs. These credit facilities may expose us to additional risks associated with leverage and may inhibit our operating flexibility.
  • If, in the future, if we cease to control and operate our businesses or other businesses that we acquire in the future or engage in certain other activities, we may be deemed to be an investment company under the Investment Company Act.
  • If intangible assets and goodwill that we recorded in connection with our acquisitions become impaired, we may have to take significant charges against earnings.
  • Risks Relating to Our Intellectual Property Rights
  • The failure to obtain or maintain patents, licensing agreements and other intellectual property could materially impact our ability to compete effectively.
  • If we are unable to obtain and maintain patent protection for our products, or if the scope of the patent protection obtained is not sufficiently broad, competitors could develop and commercialize products similar or identical to ours, and our ability to successfully commercialize our products could be impaired.
  • We may become involved in lawsuits to protect or enforce our intellectual property rights, which could be expensive, time-consuming and ultimately unsuccessful.
  • Third parties may initiate legal proceedings alleging that we are infringing their intellectual property rights, the outcome of which would be uncertain.
  • We may be subject to claims by third parties asserting that our employees or we have misappropriated their intellectual property or claiming ownership of what we regard as our own intellectual property.
  • We rely on information technology, and if we are unable to protect against service interruptions, data corruption, cyber-based attacks or network security breaches, our operations could be disrupted, and our business could be negatively affected.
  • Risks Relating to the Litigation and Government Regulation
  • Claims, litigation, government investigations, product liability and recalls, and other proceedings may adversely affect our business, operating results, financial condition, and cash flows.
  • We must successfully manage compliance with current and expanding laws and regulations, as well as manage new and pending legal and regulatory matters in the U.S. and abroad.
  • Risks Related to Our Common Stock
  • We do not expect to pay dividends in the foreseeable future.
  • Future sales or issuances of substantial amounts of our common stock, including, potentially, as a result of the future acquisitions or strategic transactions could result in significant dilution.
  • We may engage in future acquisitions or strategic transactions, which may require us to seek additional financing or financial commitments, increase our expenses and/or present significant distractions to our management.
  • Upon dissolution of our Company, you may not recoup all or any portion of your investment.
  • Anti-takeover provisions under Delaware law could discourage, delay or prevent a change in control of our Company and could affect the trading price of our securities.
  • We could issue “blank check” preferred stock without stockholder approval with the effect of diluting interests of then-current stockholders and impairing their voting rights, and provisions in our charter documents and under Delaware law could discourage a takeover that stockholders may consider favorable.
  • Our Amended and Restated Certificate of Incorporation provides that the Court of Chancery of the State of Delaware will be the sole and exclusive forum for substantially all disputes between the Company and its stockholders, which could limit stockholders’ ability to obtain a favorable judicial forum for disputes with the Company or its directors, officers or employees.
  • We no longer qualify as an “emerging growth company” as of January 1, 2026 and, as a result, we are no longer able to avail ourselves of certain reduced disclosure requirements applicable to emerging growth companies.
  • We are a “smaller reporting company” and the reduced disclosure requirements applicable to smaller reporting companies may make it more difficult to compare our performance with other public companies and make our common stock less attractive to investors.

Legal proceedings

From time to time, we may become involved in various lawsuits and legal proceedings which arise in the ordinary course of business. However, litigation is subject to inherent uncertainties, and an adverse result in these or other matters may arise from time to time that may harm our business.

The Company does not believe that the final outcome of any current legal proceedings will have a material adverse effect on the Company’s financial position or results of operations. In addition, the Company maintains what it believes is adequate insurance coverage to further mitigate risk. However, no assurance can be given that the final outcome of any such proceedings will not materially impact the Company’s financial condition or results of operations. Further, no assurance can be given that the amount or scope of existing insurance coverage will be sufficient to cover losses arising from any such matters.

The opening of Item 3, Legal Proceedings.5

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