Overview
- TickerBCTX on Nasdaq2
- IndustryPharmaceutical Preparations2
- HeadquartersWest Vancouver, Canada2
- Incorporated inBritish Columbia, Canada4
- Business address3Rd Floor, Bellevue Centre, 235-15Th Str, West Vancouver, A1 V7T 2X14
- Filer category, Emerging growth company4
- Legal formCompany (includes community contribution company and unlimited liability company)2
- LEI529900NQNTTXYE8742832
- StatusActive2
- LEI statusLapsed (not renewed)2
- Registered address3rd Floor. Bellevue Centre, 235-15th Street, V7T 2X1 West Vancouver, Canada2
- Registered withBC Registry Services, BC07645472
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New Drug Application (Pre-IND) meeting with FDA for Bria-PROS+™ for prostate cancer.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
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.3
| Period ending | 2025-07-31 | 2024-07-31 |
|---|---|---|
| Research and development expenses | $21.3M | $27.2M |
| General and administrative expenses | $5.9M | $6.2M |
| Total operating expenses | $27.2M | $33.3M |
| Operating loss | -$27.2M | -$33.3M |
| Financial income (expenses), net | $114.5K | $262.6K |
| Change in fair value of the warrant liability | $758.4K | $28.2M |
| Share of loss on equity investment | -$224.2K | -$106.5K |
| Net loss for the year | -$26.6M | -$4.9M |
| Net loss attributable to non-controlling interest | -$244.3K | -$140.1K |
| Net loss for the year attributable to BriaCell | -$26.3M | -$4.8M |
| Net loss per share attributable to BriaCell - basic | -$62.19 | -$43.68 |
| Net loss per share attributable to BriaCell - diluted | -$62.19 | -$43.68 |
| Weighted average number of shares (*) used in computing net loss per share attributable to ordinary shareholders, basic | 423.1K shares | 109.7K shares |
| Weighted average number of shares (*) used in computing net loss per share attributable to ordinary shareholders, diluted | 423.1K shares | 109.7K shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.3
| Period ending | 2025-07-31 | 2025-01-31 | 2024-07-31 | 2023-07-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $10.5M | $862.1K | ||
| Short-term investments | $7.4M | |||
| Amounts receivable and prepaid expenses | $2.1M | $2.8M | ||
| Total current assets | $19.9M | $3.7M | ||
| Equity investment in BC Therapeutics | $524.3K | $418.5K | ||
| Intangible assets, net | $184.5K | $199.8K | ||
| Property and equipment, net | $296.8K | $388.2K | ||
| Long term prepaid expenses | $717.5K | $1.2M | ||
| Total non-current assets | $1.7M | $2.2M | ||
| Total assets | $21.6M | $5.9M | ||
| Trade payables | $3.3M | $7.2M | ||
| Accrued expenses and other payables | $694.3K | $290.4K | ||
| Total current liabilities | $4.0M | $7.5M | ||
| Warrant liability | $337.7K | $1.1M | ||
| Total non-current liabilities | $337.7K | $1.1M | ||
| Share Capital of no par value Authorized: unlimited at July 31, 2025 and 2024; Issued and outstanding: 1,883,906 and 121,907 shares at July 31, 2025 and 2024, respectively | $101.7M | $72.2M | ||
| Share-based payment reserved | $10.3M | $9.2M | ||
| Warrant reserve | $17.7M | $1.8M | ||
| Accumulated other comprehensive loss | -$138.7K | -$138.7K | ||
| Non-controlling interest | -$546.8K | -$302.5K | ||
| Accumulated deficit | -$111.8M | -$85.4M | ||
| Total shareholders equity (deficit) | $17.3M | -$2.7M | -$3.8M | |
| Total liabilities and shareholders equity (deficit) | $21.6M | $5.9M | ||
| Common stock, no par value | $0 | $0 | ||
| Common stock, shares issued | 1.9M shares | 121.9K shares | ||
| Common stock, shares outstanding | 1.9M shares | 294.7K shares | 121.9K shares |
| Period ending | 2025-07-31 | 2025-01-31 | 2024-07-31 | 2023-07-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $10.5M | $862.1K | ||
| Short-term investments | $7.4M | |||
| Amounts receivable and prepaid expenses | $2.1M | $2.8M | ||
| Total current assets | $19.9M | $3.7M | ||
| Equity investment in BC Therapeutics | $524.3K | $418.5K | ||
| Intangible assets, net | $184.5K | $199.8K | ||
| Property and equipment, net | $296.8K | $388.2K | ||
| Long term prepaid expenses | $717.5K | $1.2M | ||
| Total non-current assets | $1.7M | $2.2M | ||
| Total assets | $21.6M | $5.9M | ||
| Trade payables | $3.3M | $7.2M | ||
| Accrued expenses and other payables | $694.3K | $290.4K | ||
| Total current liabilities | $4.0M | $7.5M | ||
| Warrant liability | $337.7K | $1.1M | ||
| Total non-current liabilities | $337.7K | $1.1M | ||
| Share Capital of no par value Authorized: unlimited at July 31, 2025 and 2024; Issued and outstanding: 1,883,906 and 121,907 shares at July 31, 2025 and 2024, respectively | $101.7M | $72.2M | ||
| Share-based payment reserved | $10.3M | $9.2M | ||
| Warrant reserve | $17.7M | $1.8M | ||
| Accumulated other comprehensive loss | -$138.7K | -$138.7K | ||
| Non-controlling interest | -$546.8K | -$302.5K | ||
| Accumulated deficit | -$111.8M | -$85.4M | ||
| Total shareholders equity (deficit) | $17.3M | -$2.7M | -$3.8M | |
| Total liabilities and shareholders equity (deficit) | $21.6M | $5.9M | ||
| Common stock, no par value | $0 | $0 | ||
| Common stock, shares issued | 1.9M shares | 121.9K shares | ||
| Common stock, shares outstanding | 1.9M shares | 294.7K shares | 121.9K shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.3
| Period ending | 2025-07-31 | 2024-07-31 |
|---|---|---|
| Net loss for the year | -$26.6M | -$4.9M |
| Amortization | $15.3K | $15.3K |
| Financial income (expenses), net | -$56.5K | |
| Depreciation | $91.4K | $68.6K |
| Share-based compensation | $776.9K | $1.8M |
| Share of loss on equity investment | $224.2K | $106.5K |
| Change in fair value of warrants | -$758.4K | -$28.2M |
| Decrease (increase) in amounts receivable | $733.6K | -$732.6K |
| Decrease in prepaid expenses | $492.3K | $2.1M |
| (Decrease) increase in accounts payable | -$3.9M | $6.0M |
| Increase (decrease) in accrued expenses and other payables | $753.9K | -$387.3K |
| Net cash used in operating activities | -$28.2M | -$24.1M |
| Purchase of property and equipment | -$456.8K | |
| Purchase of short-term investments, net | -$7.3M | |
| Equity investment in BC Therapeutics | -$330.0K | -$225.0K |
| Net cash used in investing activities | -$7.6M | -$681.8K |
| Proceeds from exercise of warrants | $821.0K | |
| Proceeds from issuance of shares, net of issuance costs | $44.6M | $4.4M |
| Net cash provided by financing activities | $45.4M | $4.4M |
| Increase in cash and cash equivalents | $9.6M | -$20.4M |
No quarter-by-quarter statement was filed.
Corporate structure
BriaCell Therapeutics Corp. 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 BriaCell Therapeutics Corp.
- CITADEL ADVISORS LLC Filed SCHEDULE 13G on BriaCell Therapeutics Corp., latest Jan 23, 2026
- CVI Investments, Inc. Filed SCHEDULE 13G/A on BriaCell Therapeutics Corp., latest Nov 7, 2025 (7 filings since Feb 14, 2022)
- Jeremy Myung Jae Plambeck Filed SCHEDULE 13G on BriaCell Therapeutics Corp., latest Oct 10, 2025
- Iroquois Capital Management, LLC Filed SCHEDULE 13G on BriaCell Therapeutics Corp., latest Jul 28, 2025
- 3i, LP Filed SCHEDULE 13G/A on BriaCell Therapeutics Corp., latest May 13, 2025 (2 filings since Feb 10, 2025)
- L5 Capital Inc. Filed SC 13D/A on BriaCell Therapeutics Corp., latest Dec 12, 2024 (4 filings since May 24, 2024)
- Copia Fund (Cayman) LP Filed SCHEDULE 13G on BriaCell Therapeutics Corp., latest Jan 8, 2024
- Lynwood Capital Management Inc. Filed SC 13G/A on BriaCell Therapeutics Corp., latest Feb 14, 2023 (3 filings since Feb 11, 2022)
- Southwest Private Capital Inc. Filed SC 13G on BriaCell Therapeutics Corp., latest Apr 25, 2022
- Altium Capital Management LLC Filed SC 13G/A on BriaCell Therapeutics Corp., latest Feb 14, 2022
- L1 Capital Global Opportunities Master Fund, Ltd. Filed SC 13G/A on BriaCell Therapeutics Corp., latest Feb 14, 2022
- Lind Global Macro Fund LP Filed SC 13G/A on BriaCell Therapeutics Corp., latest Feb 11, 2022
- BriaCell Therapeutics Corp. West Vancouver, British Columbia, Canada
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 BriaCell Therapeutics Corp. 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
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $456.8K3 Jul 31, 2024 | ||
| Property and equipment, net | $296.8K3 Jul 31, 2025 | $388.2K3 Jul 31, 2024 | −23.5% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $10.5M3 Jul 31, 2025 | $862.1K3 Jul 31, 2024 | +1117.3% |
| Marketable securities, current | $7.4M3 Jul 31, 2025 |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Intangible assets, net (excluding goodwill) | $184.5K3 Jul 31, 2025 | $199.8K3 Jul 31, 2024 | −7.6% |
| Finite-lived intangibles, gross | $305.1K3 Jul 31, 2025 | $305.1K3 Jul 31, 2024 | 0% |
| Accumulated amortization | $120.6K3 Jul 31, 2025 | $105.3K3 Jul 31, 2024 | +14.5% |
| Finite-lived intangibles, net | $184.5K3 Jul 31, 2025 | $199.8K3 Jul 31, 2024 | −7.6% |
| Patents, net | $305.1K3 Jul 31, 2025 | $305.1K3 Jul 31, 2024 | 0% |
Properties, in its own words
As of August 2025, the Company commenced a month-to-month lease arrangement for office and lab space in Philadelphia, Pennsylvania, in the amount of approximately $43,000 per month. The Company also maintains office space in West Vancouver, British Columbia Canada.
Item 2 of the 10-K filed Oct 16, 2025.5
Leadership
Who has led BriaCell Therapeutics Corp., and when. Pick a name to see everywhere that person has worked.
- ChairJamieson Bondarenko Dec 28, 2022 to Dec 28, 202213
- Chief financial officerGadi Levin Aug 1, 2022 to Aug 1, 202214
Board members and other officers (7)
- Chief Scientific OfficerMiguel A. Lopez-Lago Aug 1, 2022 to Aug 1, 202215
- Chief Medical OfficerPriore Giuseppe Del Aug 1, 2022 to Aug 1, 202216
- Board memberJane A. Gross Aug 1, 2022 to Aug 1, 202217
- Board memberRebecca Taub Aug 1, 2022 to Aug 1, 202218
- Board memberVaughn C. Embro-Pantalony Aug 1, 2022 to Aug 1, 202219
- Board memberMarc Lustig Aug 2, 2022 to May 20, 202420
- Board memberJamieson Bondarenko Aug 11, 2022 to Dec 20, 202221
Former names
- Ansell Capital Corp.Jun 20, 2014 to Jun 20, 20144
Timeline
- Jun 26, 20268-K Regulation FD disclosure22
- Jun 3, 20268-K Entered a material agreement; Unregistered sale of shares; Other events23
- Mar 31, 20268-K Regulation FD disclosure24
- Mar 9, 20268-K Shareholder vote25
- Feb 20, 20268-K Other events26
- Jan 15, 20268-K Entered a material agreement; Other events27
- Dec 29, 20258-K Regulation FD disclosure28
- Dec 1, 20258-K Regulation FD disclosure29
- Aug 26, 20258-K Other events30
- Jul 16, 20258-K Entered a material agreement; Other events31
- Jun 18, 20258-K Regulation FD disclosure32
- Apr 28, 20258-K Entered a material agreement; Other events33
Calendar
Coming up
- Oct 21, 2026Reports results for the quarter ending Jul/202634
When it reported results
- Oct 28, 2022Reported quarterly or annual results35
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
230 filings to the SEC since October 2021: 6 annual reports, 12 quarterly reports, 65 major events, 14 insider forms, 27 large holders, 106 other. The latest 20:
- Jun 26, 20268-K EDGAR
- Jun 9, 202610-Q EDGAR
- Jun 3, 20268-K EDGAR
- Jun 2, 2026424B5 EDGAR
- Mar 31, 20268-K EDGAR
- Mar 10, 202610-Q EDGAR
- Mar 9, 20268-K EDGAR
- Feb 26, 202625-NSE EDGAR
- Feb 20, 20268-K EDGAR
- Feb 12, 2026DEF 14A EDGAR
- Jan 23, 2026SCHEDULE 13G EDGAR
- Jan 15, 20268-K EDGAR
- Jan 14, 2026424B4 EDGAR
- Jan 13, 2026EFFECT EDGAR
- Jan 13, 2026S-1MEF EDGAR
- Jan 13, 20268-A12B EDGAR
- Jan 13, 2026CERT EDGAR
- Jan 8, 2026CORRESP EDGAR
- Jan 8, 2026CORRESP EDGAR
- Jan 6, 2026CORRESP EDGAR
The 230 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
3 open-market trades by officers, directors and large owners since October 2021: 3 buys and 0 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| May 14, 2024 | Lustig MarcDirector | Buy | 902,935 | $2.22 | $2.0M | Form 4 |
| Dec 28, 2022 | Bondarenko JamiesonChairman | Buy | 28,000 | $4.58 | $128.2K | Form 4 |
| Dec 20, 2022 | Bondarenko JamiesonChairman | Buy | 22,000 | $5.35 | $117.7K | Form 4 |
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.
- CITADEL ADVISORS LLCSCHEDULE 13G, 1 filing Jan 23, 202636
- CVI Investments, Inc.SCHEDULE 13G/A, 7 filings Feb 14, 2022 to Nov 7, 202537
- Jeremy Myung Jae PlambeckSCHEDULE 13G, 1 filing Oct 10, 202538
- Iroquois Capital Management, LLCSCHEDULE 13G, 1 filing Jul 28, 202539
- 3i, LPSCHEDULE 13G/A, 2 filings Feb 10, 2025 to May 13, 202540
- L5 Capital Inc.SC 13D/A, 4 filings May 24, 2024 to Dec 12, 202441
- Copia Fund (Cayman) LPSCHEDULE 13G, 1 filing Jan 8, 202442
- Lynwood Capital Management Inc.SC 13G/A, 3 filings Feb 11, 2022 to Feb 14, 202343
- Southwest Private Capital Inc.SC 13G, 1 filing Apr 25, 202244
- Altium Capital Management LLCSC 13G/A, 1 filing Feb 14, 202245
- L1 Capital Global Opportunities Master Fund, Ltd.SC 13G/A, 1 filing Feb 14, 202246
- Lind Global Macro Fund LPSC 13G/A, 1 filing Feb 11, 202247
- BIGGER CAPITAL FUND L PSC 13G/A, 1 filing Feb 4, 202248
- Empery Asset Management, LPSC 13G/A, 1 filing Jan 20, 202249
- SABBY MANAGEMENT, LLCSC 13G/A, 1 filing Jan 4, 202250
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.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Dr. William V. WilliamsPresident and CEO | 70 | $711.7K | $780.6K51 |
| 2025 | Mr. Gadi LevinCFO and Corporate Secretary | 54 | $485.4K | $535.4K51 |
| 2025 | Dr. Giuseppe Del PrioreChief Medical Officer | 65 | $493.0K51 | |
| 2025 | Dr. Miguel A. Lopez-LagoChief Scientific Officer | 56 | $447.5K51 | |
| 2024 | Dr. William V. WilliamsPresident and CEO | 70 | $734.4K | $1.1M51 |
| 2024 | Dr. Giuseppe Del PrioreChief Medical Officer | 65 | $540.3K | $780.8K51 |
| 2024 | Mr. Gadi LevinCFO and Corporate Secretary | 54 | $443.0K | $520.7K51 |
| 2024 | Dr. Miguel A. Lopez-LagoChief Scientific Officer | 56 | $357.7K | $393.6K51 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Cable Car Capital, LP | 216,821 | $702.5K | 0.0% | No change |
| Sabby Management, LLC | 80,721 | $261.5K | 2.2% | +6,806 |
| Iridian Asset Management Llc/ct | 65,000 | $210.6K | 0.1% | No change |
| UBS Group AG | 43,642 | $141.4K | 0.0% | +32,101 |
| Jane Street Group, LLC | 26,515 | $85.9K | 0.0% | New |
| LuminArx Capital Management LP | 15,000 | $48.6K | 0.0% | No change |
| National Bank Of Canada /fi/ | 1,803 | $5.8K | 0.0% | +1,001 |
| Morgan Stanley | 1,033 | $3.3K | 0.0% | −1,988 |
| Federation des caisses Desjardins du Quebec | 450 | $1.4K | 0.0% | −5 |
| Royal Bank Of Canada | 289 | $1.0K | 0.0% | +189 |
| Allworth Financial LP | 100 | $324 | 0.0% | No change |
| Ssa Swiss Advisors Ag | 37 | $121 | 0.0% | New |
| Hrt Financial LP | 34,904 | $113 | 0.0% | New |
| Caitong International Asset Management Co., Ltd | 34 | $110 | 0.0% | +27 |
| TD Waterhouse Canada Inc. | 19 | $66 | 0.0% | No change |
| Group One Trading LLC | 16 | $52 | 0.0% | No change |
| HHM Wealth Advisors, LLC | 6 | $20 | 0.0% | No change |
| Wells Fargo & Company/mn | 1 | $3 | 0.0% | No change |
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How BriaCell Therapeutics Corp. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARBriaCell Therapeutics Corp.1
- CIK0001610820
- Employer ID (EIN)47-10995995
- Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; a shell company5
- Incorporated inA15
- Fiscal year endsJuly 311
- Industry code (SIC)2834 Pharmaceutical Preparations1
- SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance1
- Business address3Rd Floor, Bellevue Centre, 235-15Th Str, West Vancouver, A1 V7T 2X11
- Phone(604) 921-18101
- Shares outstanding8,699,787 as of Jun 9, 202612
- Public float$94.5M as of Jan 31, 20255
- AuditorMNP LLP, Mississauga, Canada PCAOB ID 1930; no auditor attestation of internal control over financial reporting5
- On EDGAR sinceJun 20, 20141
- Filings323 in all: 8-K (65), 6-K (51), CORRESP (32), F-1/A (15), UPLOAD (14), SC 13G (13), 10-Q (12), SC 13G/A (11)1
All 39 form types
3 (10), EFFECT (9), 424B5 (8), SCHEDULE 13G (7), 424B4 (6), DEF 14A (5), SC 13D/A (5), 10-K (4), 4 (4), 424B3 (4), D (4), DRS (4), FWP (4), 8-A12B (3), CERT (3), DRSLTR (3), POS AM (3), S-1 (3), S-1/A (3), SCHEDULE 13G/A (3), F-1 (2), PRE 14A (2), S-1MEF (2), SC 13D (2), 25-NSE (1), 40-F (1), 40-F/A (1), DEFA14A (1), DEL AM (1), S-3 (1), S-8 (1)
- Latest filingsAnnual report (10-K) Oct 16, 2025
Quarterly report (10-Q) Jun 9, 2026
Proxy statement (DEF 14A) Feb 12, 2026
Latest 8-K (8-K) Jun 26, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common shares, no par value | BCTX | Nasdaq |
| Warrants to purchase common shares, no par value | BCTXW | Nasdaq |
| Warrants to purchase common shares, no par value | BCTXZ | Nasdaq |
From the cover page of the 10-K filed Oct 16, 2025 (Section 12(b) of the Exchange Act).5
Risk factors and legal proceedings
The risks BriaCell Therapeutics Corp. names in Item 1A of its 10-K filed Oct 16, 2025: 43 risks under these headings, as written.5
- Risks Related to Our Business
- Pre-clinical studies and initial clinical trials are not necessarily predictive of future results
- We are heavily reliant on third-parties to carry out a large portion of our business
- Risks Related to Our Intellectual Property
- We may not successfully develop, maintain and protect our proprietary products and technologies
- We are susceptible to intellectual property suits that could cause us to incur substantial costs or pay substantial damages or prohibit us from selling our product candidates
- The steps we have taken to protect our intellectual property may not be adequate, which could have a material adverse effect on our ability to compete in the market
- We may need to initiate lawsuits to protect or enforce our patents and other intellectual property rights, which could be expensive and, if we lose, could cause us to lose some of our intellectual property rights, which would harm our ability to compete in the market
- We may be subject to damages resulting from claims that we or our employees or contractors have wrongfully used or disclosed alleged trade secrets of their former employers
- If the FDA or comparable foreign regulatory authorities approve generic versions of any of our products that receive marketing approval, or such authorities do not grant our products appropriate periods of exclusivity before approving generic versions of our products, the sales of our products could be adversely affected.
- Patent terms may be inadequate to protect our competitive position on our product candidates for an adequate amount of time.
- Risks Related to Regulations
The other 34 risks
- Changes in legislation and regulations may affect our revenue and profitability
- If we or our licensees are unable to obtain U.S., Canadian and/or foreign regulatory approval for our product candidates, we will be unable to commercialize our therapeutic candidates
- If the third parties on which we rely to conduct our clinical trials and clinical development do not perform as contractually required or expected, we may not be able to obtain regulatory clearance or approval for, or commercialize, our product candidates
- Modifications to our product candidates, or to any other product candidates that we may develop in the future, may require new regulatory clearances or approvals or may require us or our licensees, as applicable, to recall or cease marketing these therapeutic candidates until clearances are obtained
- The results of our clinical trials may not support our product claims or may result in the discovery of adverse side effects
- Clinical trials involve a lengthy and expensive process with an uncertain outcome, and results of earlier studies and trials may not be predictive of future trial results
- The pharmaceutical business is subject to increasing government price controls and other restrictions on pricing, reimbursement and access to drugs, which could adversely affect our future revenues and profitability
- United States federal and state privacy laws, and equivalent laws of other nations, may increase our costs of operation and expose us to civil and criminal sanctions
- If we fail to comply with the U.S. federal Anti-Kickback Statute and similar state and foreign country laws, we could be subject to criminal and civil penalties and exclusion from federally funded healthcare programs including the Medicare and Medicaid programs and equivalent third country programs, which would have a material adverse effect on our business and results of operations
- In both domestic and foreign markets, the development, formulation, manufacturing, packaging, labeling, handling, distribution, import, export, licensing, sale and storage of pharmaceuticals and medical devices are affected by a body of laws, governmental regulations, administrative determinations, including those by Health Canada and the FDA, court decisions and similar constraints.
- We may not succeed in completing the development of our products, commercializing our products or generating significant revenues
- Business related risks
- There is substantial doubt about our ability to continue as a going concern
- We have an unproven market for our product candidates
- We are a pre-revenue clinical stage company
- We may not succeed in adapting to and meeting the business needs associated with our anticipated growth
- BriaPro may not generate revenue as expected
- We are highly dependent on our key personnel
- If the Company experiences a data security breach and confidential information is disclosed, the Company may be subject to penalties and experience negative publicity
- A material breach in security relating to the Company’s information systems and regulation related to such breaches, cyber-attacks, or other disruptions could adversely affect the Company, expose us to liability and affect our business and reputation.
- The Company’s international operations expose it and its representatives, agents and distributors to risks inherent to operating in foreign jurisdictions that could materially adversely affect its operations and financial position.
- Risks Related to Our Securities
- If we are not able to comply with the applicable continued listing requirements or standards of the TSX Exchange or Nasdaq, the TSX Exchange or Nasdaq could delist our common shares
- Financial risk
- We have a history of losses, may incur future losses and may not achieve profitability
- We must obtain additional capital to continue our operations
- Future issuance of our common shares could dilute the interests of existing shareholders
- Short sellers may be manipulative and may drive down the market price of our common shares
- We have a significant number of restricted share units, options and warrants outstanding, and while these options and warrants are outstanding, it may be more difficult to raise additional equity capital
- Sales of a substantial number of our common shares in the public market by our existing shareholders could cause our share price to fall
- We are an Emerging Growth Company, which may reduce the amount of information available to investors
- We have never paid cash dividends on our capital stock and we do not anticipate paying any dividends in the foreseeable future. Consequently, any gains from an investment in our common shares will likely depend on whether the price of our Common shares increases, which may not occur
- In the event a market develops for our common shares or Warrants, the market price of our common shares or Warrants may be volatile
- If we are or become classified as a passive foreign investment company, our U.S. shareholders may suffer adverse tax consequences as a result
- If estimates of revenue, expenses, or capital or liquidity requirements change or are inaccurate, or if cash generated from operations is insufficient to satisfy liquidity requirements, the Company may arrange additional financings
- If securities or industry analysts do not publish or cease publishing research or reports about us, our business or our market, or if they adversely change their recommendations or publish negative reports regarding our business or our shares, our share price and trading volume could decline
- Certain Canadian legislation contains provisions that may have the effect of delaying or preventing a change in control
- Because we are a corporation incorporated in British Columbia and some of our directors and officers are resident in Canada or other countries, it may be difficult for investors in the United States to enforce civil liabilities against us based solely upon the federal securities laws of the United States. Similarly, it may be difficult for Canadian investors to enforce civil liabilities against our directors and officers residing outside of Canada
- Global economic uncertainty and financial market volatility caused by political instability, changes in international trade relationships and conflicts, such as the conflict between Russia and Ukraine and rising tensions in the Middle East, could make it more difficult for us to access financing and could adversely affect our business and operations.
- We may be adversely affected by the effects of inflation.
Legal proceedings
We may be involved from time to time in ordinary litigation, negotiation, and settlement matters that will not have a material effect on our operations or finances. There are no material legal proceedings pending against the Company.
The opening of Item 3, Legal Proceedings.5
Sources
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- 13SEC EDGARJamieson Bondarenko, Chair
- 14SEC EDGARGadi Levin, Chief financial officer
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- 17SEC EDGARJane A. Gross, Board member
- 18SEC EDGARRebecca Taub, Board member
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- 20SEC EDGARMarc Lustig, Board member
- 21SEC EDGARJamieson Bondarenko, Board member
- 22SEC EDGARRegulation FD disclosure
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- 24SEC EDGARRegulation FD disclosure
- 25SEC EDGARShareholder vote
- 26SEC EDGAROther events
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- 28SEC EDGARRegulation FD disclosure
- 29SEC EDGARRegulation FD disclosure
- 30SEC EDGAROther events
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- 32SEC EDGARRegulation FD disclosure
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- 34NasdaqNasdaq calendar
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