CATB on NASDAQ

Catabasis Pharmaceuticals

In its 2025 annual report the company says: “We are a biopharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for allergic and immunological diseases. Our focus is to develop first-choice therapies that improve the health and outcomes of patients with allergic and immunologic diseases.”5 It was founded in 2008.1 It is headquartered in Cambridge.1 Its shares trade on NASDAQ under the symbol CATB.1

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Last updated Oct 21, 2026.

Overview

2008Founded1

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  • TickerCATB on NASDAQ1
  • IndustryPharmaceutical Preparations1
  • HeadquartersCambridge1
  • Websitewww.catabasis.com
  • Incorporated inDE3
  • Business address22 Boston Wharf Road, 10Th Floor, Boston, Ma 022103
  • Filer categoryNon-accelerated filer, Smaller reporting company3

We are a biopharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for allergic and immunological diseases. Our focus is to develop first-choice therapies that improve the health and outcomes of patients with allergic and immunologic diseases. Our lead product candidate is navenibart, formerly known as STAR-0215, a potential best-in-class monoclonal antibody inhibitor of plasma kallikrein in clinical development for the treatment of hereditary angioedema, or HAE, a rare, debilitating and potentially life-threatening disease. We believe that navenibart has the potential to be the market - leading and most patient-friendly chronic treatment option for HAE, based on proof-of-concept data in HAE patients and the existing HAE treatment landscape. Our second product candidate is STAR-0310, a monoclonal antibody OX40 antagonist that is in clinic…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 2020

-91.7%Return on equity6
-$32.5MFree cash flow7

Financial statements

Revenue89$0 in 2020
02018: $0$020182020: $0$02020
Operating income1097-$37.4M in 2020+42% since 2018
-$40.0M-$30.0M-$20.0M-$10.0M02018: -$26.4M-$26.4M20182019: -$27.1M-$27.1M2019+3%2020: -$37.4M-$37.4M2020+38%
Net income1097-$37.3M in 2020+44% since 2018
-$40.0M-$30.0M-$20.0M-$10.0M02018: -$25.9M-$25.9M20182019: -$26.3M-$26.3M2019+2%2020: -$37.3M-$37.3M2020+42%
Fiscal year201820192020
Revenue$08$09
Research and development$17.0M10$18.3M9$25.6M9
Operating expenses
Operating income-$26.4M10-$27.1M9-$37.4M7
Interest$100.0K8
Net income-$25.9M10-$26.3M9-$37.3M7
Earnings per share-$12.207
Earnings per share (diluted)-$12.207
Shares (weighted, basic)
Shares (weighted, diluted)

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Corporate structure

Catabasis Pharmaceuticals sits at the top of its group. 3 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Catabasis Pharmaceuticals

  • Vestal Point Capital, LP Filed SCHEDULE 13G/A on Catabasis Pharmaceuticals, latest Feb 17, 2026 (3 filings since Nov 14, 2024)
  • GLAZER CAPITAL, LLC Filed SCHEDULE 13G/A on Catabasis Pharmaceuticals, latest Feb 12, 2026 (2 filings since Dec 10, 2025)
  • PERCEPTIVE ADVISORS LLC Filed SCHEDULE 13D/A on Catabasis Pharmaceuticals, latest Feb 9, 2026 (6 filings since Dec 21, 2022)
  • Magnetar Financial LLC Filed SCHEDULE 13D/A on Catabasis Pharmaceuticals, latest Jan 28, 2026 (2 filings since Oct 24, 2025)
  • ForGrowth III PA B.V. Filed SCHEDULE 13G/A on Catabasis Pharmaceuticals, latest Nov 14, 2025 (3 filings since Jan 7, 2025)
  • FMR LLC Filed SCHEDULE 13G/A on Catabasis Pharmaceuticals, latest Nov 7, 2025 (9 filings since Jan 10, 2023)
  • INTEGRATED CORE STRATEGIES (US) LLC Filed SCHEDULE 13G/A on Catabasis Pharmaceuticals, latest Oct 20, 2025 (4 filings since Nov 1, 2024)
  • Fairmount Funds Management LLC Filed SCHEDULE 13G/A on Catabasis Pharmaceuticals, latest Oct 15, 2025 (6 filings since Feb 8, 2022)
  • RA CAPITAL MANAGEMENT, L.P. Filed SCHEDULE 13G/A on Catabasis Pharmaceuticals, latest Aug 14, 2025 (5 filings since Feb 14, 2022)
  • Venrock Healthcare Capital Partners III, L.P. Filed SCHEDULE 13G/A on Catabasis Pharmaceuticals, latest Feb 14, 2025 (3 filings since Jan 2, 2024)
  • TCG Crossover GP II, LLC Filed SC 13G/A on Catabasis Pharmaceuticals, latest Nov 13, 2024 (2 filings since Jan 16, 2024)
  • VANGUARD GROUP INC Filed SC 13G/A on Catabasis Pharmaceuticals, latest Nov 12, 2024 (5 filings since Feb 13, 2024)
  • Catabasis Pharmaceuticals Cambridge
    • Astria Securities Corporation Subsidiary · Delaware, United States
    • Quellis Biosciences, LLC Subsidiary · Delaware, United States

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Catabasis Pharmaceuticals 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
Operating-lease assets (leased space)$5.1M13 Dec 31, 2024$5.8M13 Jan 3, 2024−11.8%

Real estate and locations

ItemLatestA year beforeChange
Area of land30,110 sq ft13 Jan 3, 2024

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$59.8M13 Dec 31, 2024$175.5M13 Dec 31, 2023−65.9%
Marketable securities, current$268.3M13 Dec 31, 2024$71.0M13 Dec 31, 2023+277.9%

Properties, in its own words

Our offices are located in Boston, Massachusetts and consist of approximately 30,110 square feet of subleased office space under a lease that is scheduled to end on November 30, 2028 or on such earlier date as the term may sooner cease or expire as set forth in the sublease agreement. We believe that our existing facilities are sufficient for our needs for the foreseeable future.

Item 2 of the 10-K filed Mar 11, 2025.5

Leadership

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

Board members and other officers (25)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Astria Securities Corporation Delaware4
  • Quellis Biosciences, LLC Delaware4

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • CATABASIS PHARMACEUTICALS INCJan 21, 2009 to Aug 20, 20213

Timeline

  1. Jan 23, 20268-K Entered a material agreement; Completed an acquisition or sale; New debt or obligation41
  2. Jan 21, 20268-K Shareholder vote; Other events42
  3. Dec 23, 20258-K Other events43
  4. Nov 12, 20258-K Results of operations44
  5. Oct 14, 20258-K Entered a material agreement; Results of operations; Other events45
  6. Aug 6, 20258-K Entered a material agreement; Regulation FD disclosure; Other events46
  7. Jun 12, 20258-K Executive or director change; Shareholder vote47
  8. Mar 11, 20258-K Results of operations48
  9. Jan 13, 20258-K Regulation FD disclosure49
  10. Dec 19, 20248-K Executive or director change50
  11. Jun 6, 20248-K Executive or director change; Shareholder vote51
  12. Apr 9, 20248-K Executive or director change52
  13. Jun 24, 2015New chief executive Jill C. Milne becomes CEO14
  14. 2008Founded Founded1

Calendar

When it reported results

  1. Nov 12, 2025Reported quarterly or annual results44
  2. Oct 14, 2025Reported quarterly or annual results45
  3. Mar 11, 2025Reported quarterly or annual results48
  4. Nov 13, 2023Reported quarterly or annual results53
  5. Mar 22, 2023Reported quarterly or annual results54
  6. Jan 5, 2023Reported quarterly or annual results55
  7. Nov 10, 2021Reported quarterly or annual results56

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

279 filings to the SEC since October 2021: 4 annual reports, 13 quarterly reports, 36 major events, 87 insider forms, 67 large holders, 72 other. The latest 20:

  1. Feb 17, 2026SCHEDULE 13G/A EDGAR
  2. Feb 12, 2026SCHEDULE 13G/A EDGAR
  3. Feb 9, 2026SCHEDULE 13D/A EDGAR
  4. Feb 2, 202615-12G EDGAR
  5. Jan 28, 2026SCHEDULE 13D/A EDGAR
  6. Jan 27, 2026EFFECT EDGAR
  7. Jan 27, 2026EFFECT EDGAR
  8. Jan 27, 2026EFFECT EDGAR
  9. Jan 27, 2026EFFECT EDGAR
  10. Jan 27, 2026EFFECT EDGAR
  11. Jan 27, 2026EFFECT EDGAR
  12. Jan 23, 2026S-8 POS EDGAR
  13. Jan 23, 2026S-8 POS EDGAR
  14. Jan 23, 2026S-8 POS EDGAR
  15. Jan 23, 2026S-8 POS EDGAR
  16. Jan 23, 2026S-8 POS EDGAR
  17. Jan 23, 2026S-8 POS EDGAR
  18. Jan 23, 2026S-8 POS EDGAR
  19. Jan 23, 2026S-8 POS EDGAR
  20. Jan 23, 2026S-8 POS EDGAR

The 279 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

8 open-market trades by officers, directors and large owners since October 2021: 5 buys and 3 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Apr 1, 2024Morabito ChristopherChief Medical OfficerSale10,000$13.59$135.9KForm 4
Feb 1, 2024Perceptive Xontogeny Venture Fund, LPDirectorBuy2,481,350$12.09$30.0MForm 4
Jan 29, 2024Morabito ChristopherChief Medical OfficerSale9,200$11.15$102.6KForm 4
Jan 26, 2024Morabito ChristopherChief Medical OfficerSale800$11.02$8.8KForm 4
Dec 21, 2023PERCEPTIVE ADVISORS LLCDirectorBuy740,000$6.20$4.6MForm 4
Oct 16, 2023PERCEPTIVE LIFE SCIENCES MASTER FUND LTDDirectorBuy1,074,608$6.51$7.0MForm 4
Dec 19, 2022PERCEPTIVE LIFE SCIENCES MASTER FUND LTDDirectorBuy908,265$11.01$10.0MForm 4
Nov 19, 2021Komjathy AndrewChief Commercial OfficerBuy100$6.70$670Form 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.

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
2024Jill C. Milne, Ph.D.President and Chief Executive Officer57$637.9K$6.6M75
2024Christopher Morabito, M.D.Chief Medical Officer55$485.9K$2.5M75
2024Benjamin HarshbargerChief Legal Officer56$461.6K$2.4M75
2023Jill C. Milne, Ph.D.President and Chief Executive Officer57$601.8K$3.0M75
2023Christopher Morabito, M.D.Chief Medical Officer55$458.4K$1.3M75
2023Benjamin HarshbargerChief Legal Officer56$439.6K$1.3M75

SEC filer profile

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

  • Name on EDGARAstria Therapeutics, Inc.2
  • CIK0001454789
  • Employer ID (EIN)26-36871685
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company5
  • Incorporated inDelaware5
  • Fiscal year endsDecember 312
  • Industry code (SIC)2834 Pharmaceutical Preparations2
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance2
  • Business address22 Boston Wharf Road, 10Th Floor, Boston, MA 022102
  • Phone617-349-19712
  • Shares outstanding57,084,838 as of Oct 31, 202511
  • Public float$370.2M as of Jun 28, 20245
  • AuditorErnst & Young LLP, Boston, Massachusetts PCAOB ID 42; no auditor attestation of internal control over financial reporting5
  • On EDGAR sinceJan 21, 20092
  • Filings628 in all: 4 (171), 8-K (83), SC 13G/A (45), 10-Q (32), 3 (31), SC 13G (30), 424B5 (21), EFFECT (15)2
    All 50 form types

    SCHEDULE 13G/A (15), CORRESP (13), 4/A (12), DEF 14A (12), S-8 (12), S-8 POS (12), DEFA14A (11), SC 13D/A (11), 10-K (10), 425 (8), POS AM (7), UPLOAD (7), 424B3 (6), D (6), S-3 (6), S-1/A (5), D/A (4), PRE 14A (4), S-3/A (4), SC 13D (4), ARS (3), SCHEDULE 13D/A (3), SCHEDULE 13G (3), 144 (2), 424B4 (2), S-1 (2), 10-K/A (1), 15-12G (1), 25-NSE (1), 25-NSE/A (1), 5 (1), 8-A12B (1), 8-K/A (1), CERTNAS (1), DEFM14A (1), DRS (1), DRS/A (1), DRSLTR (1), FWP (1), REGDEX (1), S-1MEF (1), SCHEDULE 13D (1)

  • Latest filingsAnnual report (10-K) Mar 11, 2025
    Quarterly report (10-Q) Nov 12, 2025
    Proxy statement (DEF 14A) Apr 28, 2025
    Latest 8-K (8-K) Jan 23, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $0.001 par value per shareATXSNasdaq

From the cover page of the 10-K filed Mar 11, 2025 (Section 12(b) of the Exchange Act).5

Risk factors and legal proceedings

The risks Catabasis Pharmaceuticals names in Item 1A of its 10-K filed Mar 11, 2025: 71 risks under these headings, as written.5

  • Risks Related to the Discovery, Development and Commercialization of Our Product Candidates
  • Our business is entirely dependent on the success of navenibart as a potential treatment for HAE and STAR-0310 as a potential treatment for AD.
  • Interim topline, initial proof-of-concept and preliminary data from our clinical trials that we announce or publish from time to time may change as more study participant data become available and are subject to audit and verification procedures that could result in material changes in the final data.
  • Results of preclinical studies and early clinical trials may not be predictive of results of future clinical trials, and results of later stage clinical trials may not enable marketing approval.
  • Clinical drug development involves a lengthy and expensive process with an uncertain outcome. If clinical trials of a product candidate fail to satisfactorily demonstrate safety and efficacy to the FDA and other comparable foreign regulators, we, or any future collaborators, may incur additional costs or experience delays in completing, or ultimately be unable to complete, the development and commercialization of such product candidates.
  • Adverse events or undesirable side effects caused by, or other unexpected properties of, a product candidate may be identified during development that could delay or prevent their marketing approval or limit their use.
  • If we, or any future collaborators, experience any of a number of possible unforeseen events in connection with clinical trials of a product candidate, potential marketing approval or commercialization of such product candidate could be delayed or prevented.
  • If we, or any future collaborators, experience delays or difficulties in the enrollment of patients in clinical trials, our or their receipt of necessary regulatory approvals could be delayed or prevented.
  • We have conducted and intend to conduct certain of our clinical trials globally. However, the FDA and other foreign equivalents may not accept data from such trials, in which case our development plans may be delayed, which could materially harm our business.
  • Changes in product candidate manufacturing or formulation may result in additional costs or delay.
  • We face substantial competition from other pharmaceutical and biotechnology companies, and our operating results may suffer if we fail to compete effectively.
  • We may expend our limited resources to pursue a particular product candidate or indication and fail to capitalize on product candidates or indications that may be more profitable or for which there is a greater likelihood of success.
The other 59 risks
  • Preclinical development is uncertain. Our preclinical programs may experience delays or may never advance to clinical trials and we may be unsuccessful in identifying any new product candidates.
  • We have never obtained marketing approval for a product candidate and we may be unable to obtain, or may be delayed in obtaining, marketing approval for any future product candidate we may seek to develop.
  • If navenibart, STAR-0310 or any other future product candidate receives marketing approval and we, or others, later discover that the drug is less effective than previously believed or causes undesirable side effects that were not previously identified, our ability, or that of any future collaborators, to market the drug could be compromised.
  • Even if navenibart, STAR-0310 or any other future product candidate receives marketing approval, it may fail to achieve the degree of market acceptance by physicians, patients, third-party payors and others in the medical community necessary for commercial success and the market opportunity for the product candidate may be smaller than we estimate.
  • If we are unable to establish sales, marketing and distribution capabilities or enter into sales, marketing and distribution arrangements with third parties, we may not be successful in commercializing any future product candidates that we may develop if and when those product candidates are approved.
  • Even if we, or any future collaborators, are able to commercialize any product candidate that we, or they, develop, the product may become subject to unfavorable pricing regulations, third-party payor reimbursement practices or healthcare reform initiatives that could harm our business.
  • Navenibart, STAR-0310 and any other future biologic product candidates will be regulated as biological products, or biologics, and therefore they may be subject to competition from biologic products that are biosimilar to or interchangeable with an FDA-licensed reference biologic product.
  • Business disruptions could delay completion of clinical trials, seriously harm our future revenue and financial condition and increase our costs and expenses.
  • Product liability lawsuits against us could divert our resources, cause us to incur substantial liabilities and limit commercialization of any products that we may develop.
  • Risks Related to Our Financial Position and Need for Additional Capital
  • We will need substantial additional funding. If we are unable to raise capital when needed or on acceptable terms, we could be forced to delay, reduce or eliminate our product development programs or commercialization efforts.
  • We have incurred significant losses since inception. We expect to incur losses for at least the next several years and may never achieve or maintain profitability.
  • Raising additional capital may cause dilution to our stockholders, restrict our operations or require us to relinquish rights to our technologies or product candidates.
  • Risks Related to Our Dependence on Third Parties
  • We may seek to establish collaborations and, if we are not able to establish them on commercially reasonable terms, we may have to alter our development and commercialization plans.
  • If we enter into collaborations with third parties for the development and commercialization of a product candidate, our prospects with respect to such product candidate will depend in significant part on the success of those collaborations.
  • We rely on third parties to conduct our preclinical studies and clinical trials. If they do not perform satisfactorily, our business could be significantly harmed.
  • The manufacturing of pharmaceutical products and, in particular, biologics, is complex and we do not have our own manufacturing capabilities. We rely and intend to rely on third parties to produce preclinical, clinical and commercial supplies of our current and future product candidates as well as the device candidates that we intend to commercialize with our product candidates.
  • Changes in U.S./China trade policies may adversely impact our business and operating results.
  • Risks Related to Our Intellectual Property
  • If we are unable to obtain and maintain sufficient patent protection for product candidates, or if the scope of the patent protection is not sufficiently broad, our competitors could develop and commercialize products similar or identical to ours, and our ability to commercialize such product candidates successfully may be adversely affected.
  • If we do not obtain protection under the Drug Price Competition and Patent Term Restoration Act of 1984, or the Hatch-Waxman Act, and similar non-United States legislation for extending the term of patents covering each of our product candidates, our business may be materially harmed.
  • We rely on in-licensed patent and other intellectual property rights for our STAR-0310 program and we may need to obtain licenses from third parties to other intellectual property rights for the development and commercialization of our STAR-0310 and navenibart programs; if we fail to comply with our existing or future obligations under these licenses, or if these licenses are terminated, we could lose license rights that are important to our business.
  • We may become involved in lawsuits to protect or enforce our patents or other intellectual property, which could be expensive, time consuming and unsuccessful.
  • An intellectual property litigation could lead to unfavorable publicity that could harm our reputation and cause the market price of our common stock to decline.
  • If we are sued for infringing intellectual property rights of third parties, such litigation could be costly and time consuming and could prevent or delay us from developing or commercializing current and future product candidates.
  • If we are unable to protect the confidentiality of our trade secrets, the value of our technology could be materially adversely affected and our business would be harmed.
  • Changes to the patent law in the United States and other jurisdictions could diminish the value of patents in general, thereby impairing our ability to protect our products.
  • Intellectual property rights do not necessarily address all potential threats to our competitive advantage.
  • Obtaining and maintaining our patent protection depends on compliance with various procedural, document submissions, fee payment and other requirements imposed by governmental patent agencies, and our patent protection could be reduced or eliminated for noncompliance with these requirements.
  • We may obtain only limited geographical protection with respect to certain patent rights, which may diminish the value of our intellectual property rights in those jurisdictions and prevent us from enforcing our intellectual property rights throughout the world.
  • 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.
  • Risks Related to Marketing Approval and Other Legal Compliance Matters
  • Even if we complete the necessary preclinical studies and clinical trials, the marketing approval process is expensive, time consuming and uncertain and may prevent us or any future collaborators from obtaining approvals for the commercialization of navenibart, STAR-0310 or any other future product candidates. As a result, we cannot predict when or if, and in which territories, we, or any future collaborators, will obtain marketing approval to commercialize a product candidate.
  • Failure to obtain marketing approval in foreign jurisdictions would prevent our product candidates from being marketed abroad. Any approval we may be granted for our product candidates in the United States would not assure approval of our product candidates in foreign jurisdictions and any of our product candidates that may be approved for marketing in a foreign jurisdiction will be subject to risks associated with foreign operations.
  • We, or any future collaborators, may not be able to obtain or maintain orphan drug designation or orphan drug exclusivity for any future product candidates.
  • Any product candidate for which we obtain marketing approval would remain subject to ongoing regulation and could be subject to restrictions or withdrawal from the market, and we may be subject to substantial penalties if we fail to comply with regulatory requirements, when and if any of our product candidates are approved.
  • We may seek certain designations for our product candidates, including Breakthrough Therapy, RMAT Therapy, Fast Track and Priority Review designations in the United States, and the PRIority MEdicines, or PRIME, designation in the European Union, but we might not receive such designations, and even if we do, such designations may not lead to a faster development or regulatory review or approval process.
  • We may seek a Rare Pediatric Disease priority review voucher, or PRV, for our current and future product candidates. A BLA or NDA for our current and future product candidates will not, however, meet the eligibility criteria for a PRV, unless this program is reauthorized by Congress and we secure rare pediatric disease designation and approval of the BLA or NDA for the product candidate before any required dates established in such legislation.
  • We and our contract manufacturers are subject to significant regulation. The manufacturing facilities on which we rely may not continue to meet regulatory requirements, which could materially harm our business.
  • Inadequate funding for the FDA, the SEC and other government agencies, including from government shut downs, competing priorities or other disruptions to these agencies’ operations, and regulatory reform efforts, could hinder their ability to hire and retain key leadership and other personnel, prevent new products and services from being developed or commercialized in a timely manner or otherwise prevent those agencies from performing normal business functions on which the operation of our business may rely, which could negatively impact our business.
  • Current and future legislation may increase the difficulty and cost for us to obtain reimbursement for any of our product candidates that do receive marketing approval.
  • The prices of prescription pharmaceuticals in the United States and foreign jurisdictions are subject to considerable legislative and executive actions and could impact the prices we obtain for our products, if and when licensed.
  • The insurance coverage and reimbursement status of newly approved products is uncertain. Our product candidates, if approved, may become subject to unfavorable pricing regulations, third-party coverage and reimbursement practices or healthcare reform initiatives, which would harm our business. Failure to obtain or maintain coverage and adequate reimbursement for any of our product candidates for which we obtain approval could limit our ability to market those products and decrease our ability to generate revenue.
  • We may be subject to certain healthcare laws and regulations, which could expose us to criminal sanctions, civil penalties, contractual damages, reputational harm, fines, disgorgement, exclusion from participation in government healthcare programs, curtailment or restricting of our operations, and diminished profits and future earnings.
  • We are subject to stringent privacy laws, information security laws, regulations, policies and contractual obligations related to data privacy and security and changes in such laws, regulations, policies, contractual obligations and failure to comply with such requirements could subject us to significant fines and penalties, which may have a material adverse effect on our business, financial condition or results of operations.
  • We are subject to United States and foreign anti-corruption and anti-money laundering laws with respect to our operations and non-compliance with such laws can subject us to criminal and/or civil liability and harm our business.
  • If we fail to comply with environmental, health and safety laws and regulations, we could become subject to fines or penalties or incur costs that could significantly harm our business.
  • Our employees, independent contractors, CROs, consultants, contract manufacturers, commercial partners, vendors and principal investigators may engage in misconduct or other improper activities, including non-compliance with regulatory standards and requirements.
  • Risks Related to Taxation
  • Changes in tax law could adversely affect our business and financial condition.
  • Our ability to use net operating losses and research and development credits to offset future taxable income may be subject to certain limitations.
  • Risks Related to Employee Matters, Managing Growth and Information Technology
  • Our future success depends on our ability to retain our senior management and key employees.
  • We may experience difficulty in locating, attracting and retaining experienced and qualified personnel, which could adversely affect our business.
  • Security breaches and other disruptions to our information technology systems could compromise our information, disrupt our business and expose us to liability, which would cause our business and reputation to suffer.
  • Artificial intelligence presents risks and challenges that can impact our business including by posing security risks to our confidential information, proprietary information and personal data.
  • Risks Related to Our Common Stock
  • Our principal stockholders own a significant percentage of our stock and will be able to exert significant control over matters subject to stockholder approval.
  • The price of our common stock has been and is likely to continue to be highly volatile, which could result in substantial losses for our stockholders.
  • We have incurred and will continue to incur significant costs as a result of operating as a public company, and our management will be required to devote substantial time to new compliance initiatives and corporate governance practices.
  • A significant portion of our total outstanding shares may be sold into the market in the near future, which could cause the market price of our common stock to decline significantly, even if our business is doing well.
  • We do not anticipate paying any cash dividends on our capital stock in the foreseeable future, accordingly, stockholders must rely on capital appreciation, if any, for any return on their investment.
  • If securities or industry analysts do not publish research or publish inaccurate or unfavorable research about our business, our share price and trading volume could decline.
  • Risks Relating to our Certificate of Incorporation and Bylaws
  • Provisions in our corporate charter documents and under Delaware law could make an acquisition of us, which may be beneficial to our stockholders, more difficult and may prevent attempts by our stockholders to replace or remove our current management.
  • Our certificate of incorporation designates the state courts in the State of Delaware or, if no state court located within the State of Delaware has jurisdiction, the federal court for the District of Delaware, as the sole and exclusive forum for certain types of actions and proceedings that may be initiated by our stockholders, which could discourage lawsuits against the company and our directors and officers.

Legal proceedings

From time to time we may become subject to various legal proceedings and claims that arise in the ordinary course of our business activities. Although the results of litigation and claims cannot be predicted with certainty, as of the date of this Annual Report on Form 10-K, we do not believe we are party to any claim or litigation, the outcome of which, if determined adversely to us, would individually or in the aggregate be reasonably expected to have a material adverse effect on our business. Regardless of the outcome, litigation can have an adverse impact on us because of defense and settlement costs, diversion of management resources and other factors.

The opening of Item 3, Legal Proceedings.5

Sources

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  54. 54
  55. 55
  56. 56
  57. 57
  58. 58
  59. 59
  60. 60
  61. 61
  62. 62
  63. 63
  64. 64
  65. 65
  66. 66
  67. 67
  68. 68
  69. 69
  70. 70
  71. 71
  72. 72
  73. 73
  74. 74
  75. 75