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CBIO on Nasdaq

CRESCENT BIOPHARMA, INC.

Pharmaceutical preparations company in the Cayman Islands1

In its 2026 annual report the company says: “We are a clinical-stage biotechnology company focused on delivering the next wave of transformative therapies to bring a brighter future for people living with cancer.”3 It is headquartered in Waltham, Massachusetts.1 Its shares trade on Nasdaq under the symbol CBIO.1

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Last updated Oct 21, 2026.

Overview

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  • TickerCBIO on Nasdaq1
  • IndustryPharmaceutical Preparations1
  • HeadquartersWaltham, Massachusetts1
  • Incorporated inCayman Islands2
  • Business address300 Fifth Avenue, Waltham, Ma 024512
  • Filer categoryNon-accelerated filer, Smaller reporting company2

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We were incorporated under the laws of the State of Delaware in 2003. Our company, formerly known as GlycoMimetics, Inc., is a biotechnology company that is the result of a reverse recapitalization transaction with a private company named Crescent Biopharma, Inc. (“Pre-Merger Crescent”). Prior to the reverse recapitalization transaction, Pre-Merger Crescent was established and incorporated under the laws of the state of Delaware on September 19, 2024. On June 16, 2025, in connection with the reverse recapitalization transaction with Pre-Merger Crescent, we changed our jurisdiction of incorporation from the state of Delaware to the Cayman Islands pursuant to a plan of conversion.3 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

-1407.5%Operating margin4
-1419.6%Net margin4
-75.8%Return on equity4
-$72.5MFree cash flow4

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Research and development99¢$138.1M
  • Income tax1¢$2.0M

Out of $10.8M in revenue.4 The company lost money this year.

Financial statements

Revenue5674$10.8M in 2025+7% since 2020
0$5.0M$10.0M$15.0M2020: $10.2M$10.2M20202021: $1.2M$1.2M2021−89%2022: $75.0K$75.0K2022−94%2023: $10.0K$10.0K2023−87%2025: $10.8M$10.8M2025+108340%
Operating income85674-$152.6M in 2025+149% since 2019
-$200.0M-$150.0M-$100.0M-$50.0M02019: -$61.4M-$61.4M20192020: -$51.5M-$51.5M2020−16%2021: -$63.4M-$63.4M2021+23%2022: -$47.4M-$47.4M2022−25%2023: -$39.3M-$39.3M2023−17%2024: -$40.0M-$40.0M2024+2%2025: -$152.6M-$152.6M2025+281%
Net income85674-$153.9M in 2025+166% since 2019
-$200.0M-$150.0M-$100.0M-$50.0M02019: -$57.9M-$57.9M20192020: -$51.0M-$51.0M2020−12%2021: -$63.4M-$63.4M2021+24%2022: -$46.7M-$46.7M2022−26%2023: -$36.9M-$36.9M2023−21%2024: -$37.9M-$37.9M2024+3%2025: -$153.9M-$153.9M2025+306%

Every line of the income statement as filed: the last 1 fiscal year (annual) or 1 quarters (quarterly), latest first.4

Period ending2025-12-31
License revenue$10.8M
Research and development$138.1M
Total operating expenses$163.5M
Loss from operations-$152.6M
Interest income$2.9M
Loss before provision for income taxes-$151.9M
Provision for income taxes-$2.0M
Net loss and comprehensive loss-$153.9M
Net loss and comprehensive loss-$153.9M
Net loss per share attributable to ordinary shareholders, basic (in dollars per share)-$12.81
Net loss per share attributable to ordinary shareholders, diluted (in dollars per share)-$12.81
Net loss per share attributable to Series A non-voting convertible preferred shareholders, basic (in dollars per share)-$12,818.01
Net loss per share attributable to Series A non-voting convertible preferred shareholders, diluted (in dollars per share)-$12,818.01
Weighted-average ordinary shares outstanding used in computing net loss per share to ordinary shareholders, basic (in shares)10.4M shares
Weighted-average ordinary shares outstanding used in computing net loss per share to ordinary shareholders, diluted (in shares)10.4M shares
Weighted-average Series A non-voting convertible preferred shares outstanding used in computing net loss per share to Series A non-voting convertible preferred shareholders, basic (in shares)1.6K shares
Weighted-average Series A non-voting convertible preferred shares outstanding used in computing net loss per share to Series A non-voting convertible preferred shareholders, diluted (in shares)1.6K shares
General and administrative$25.4M
Interest expense$2.2M

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Corporate structure

CRESCENT BIOPHARMA, 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 CRESCENT BIOPHARMA, INC.

  • CRESCENT BIOPHARMA, INC. Waltham, Massachusetts

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What CRESCENT BIOPHARMA, 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, net$846.0K4 Dec 31, 2025$04 Dec 31, 2024
Operating-lease assets (leased space)$1.5M4 Dec 31, 2025$04 Dec 31, 2024

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$213.2M4 Dec 31, 2025$34.8M4 Dec 31, 2024+513.2%

Properties, in its own words

Our headquarters is located in Waltham, Massachusetts, where we lease approximately 25,000 square feet of office space (the “Waltham Lease”). Our Waltham Lease expires in February 2029. We do not own any real property and believe that our current facilities are sufficient to meet our ongoing needs and that, if we require additional space, we will be able to obtain additional facilities on commercially reasonable terms.

Item 2 of the 10-K filed Feb 26, 2026.3

Leadership

Who has led CRESCENT BIOPHARMA, INC., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Rachel K. King2014–2021
  2. Harout Semerjian2021–2024
  3. Joshua T. Brumm2025–now

President

  1. Rachel K. King2014–2021

Chief financial officer

  1. Brian M. Hahn2014–2024
  2. Richard William Scalzo2025–now
201520202025
Board members and other officers (31)

Former names

  • GLYCOMIMETICS INCJul 10, 2003 to Jun 23, 20252

Timeline

  1. Oct 15, 20268-K Other events44
  2. Jul 30, 20268-K Results of operations45
  3. Jul 15, 20268-K Other events46
  4. Jul 14, 20268-K Results of operations47
  5. Jun 3, 20268-K Shareholder vote48
  6. Apr 29, 20268-K Results of operations49
  7. Feb 26, 20268-K Results of operations50
  8. Dec 4, 20258-K Entered a material agreement; Unregistered sale of shares; Regulation FD disclosure51
  9. Nov 6, 20258-K Results of operations52
  10. Jul 31, 20258-K Results of operations; Executive or director change53
  11. Jun 23, 2025New chief executive Joshua T. Brumm becomes CEO13
  12. Jun 18, 20258-K Entered a material agreement; Completed an acquisition or sale; Results of operations54
  13. Jun 6, 20258-K Shareholder vote; Regulation FD disclosure; Other events55
  14. Aug 10, 2021New chief executive Harout Semerjian becomes CEO14
  15. Jan 9, 2014New chief executive Rachel K. King becomes CEO15

Calendar

Coming up

  1. Nov 5, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($1.27) a share, on Nov 6, 2025.56

When it reported results

  1. Jul 30, 2026Reported quarterly or annual results45
  2. Jul 14, 2026Reported quarterly or annual results47
  3. Apr 29, 2026Reported quarterly or annual results49
  4. Feb 26, 2026Reported quarterly or annual results50
  5. Nov 6, 2025Reported quarterly or annual results52
  6. Jul 31, 2025Reported quarterly or annual results53
  7. Jun 18, 2025Reported quarterly or annual results54
  8. May 6, 2024Reported quarterly or annual results57

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

Filings

309 filings to the SEC since October 2021: 5 annual reports, 16 quarterly reports, 48 major events, 131 insider forms, 35 large holders, 74 other. The latest 20:

  1. Oct 15, 20268-K EDGAR
  2. Sep 18, 20264 EDGAR
  3. Sep 18, 20264 EDGAR
  4. Sep 18, 20264 EDGAR
  5. Sep 18, 20264 EDGAR
  6. Sep 18, 20264 EDGAR
  7. Sep 18, 20264 EDGAR
  8. Sep 18, 20264 EDGAR
  9. Sep 18, 2026S-8 EDGAR
  10. Sep 17, 2026144 EDGAR
  11. Sep 17, 2026144 EDGAR
  12. Sep 16, 2026144 EDGAR
  13. Sep 16, 2026144 EDGAR
  14. Aug 14, 2026SCHEDULE 13G/A EDGAR
  15. Jul 31, 2026EFFECT EDGAR
  16. Jul 30, 2026POS AM EDGAR
  17. Jul 30, 2026424B3 EDGAR
  18. Jul 30, 202610-Q EDGAR
  19. Jul 30, 20268-K EDGAR
  20. Jul 20, 2026SCHEDULE 13D/A EDGAR

The 309 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

62 open-market trades by officers, directors and large owners since October 2021: 27 buys and 35 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 18, 2026Brumm Joshua TChief Executive OfficerSale7,837$16.71$131.0KForm 4
Sep 18, 2026McNeill JonathanPresident and COOSale3,839$16.71$64.2KForm 4
Sep 16, 2026Lynch RyanSee RemarksSale240$17.90$4.3KForm 4
Sep 16, 2026Pinkas JanChief Scientific OfficerSale658$17.90$11.8KForm 4
Sep 16, 2026Im Ellie EunkyungChief Medical OfficerSale623$17.90$11.2KForm 4
Sep 16, 2026Scalzo Richard WilliamChief Financial OfficerSale568$17.90$10.2KForm 4
Sep 16, 2026Bispham Barbara HarlinSee RemarksSale620$17.90$11.1KForm 4
Sep 16, 2026Brumm Joshua TChief Executive OfficerSale1,610$17.90$28.8KForm 4
Sep 16, 2026McNeill JonathanPresident and COOSale731$17.90$13.1KForm 4
Jul 16, 2026Fairmount Healthcare Fund II L.P.DirectorBuy853,450$14.50$12.4MForm 4
Jun 22, 2026Lynch RyanSee RemarksSale465$17.99$8.4KForm 4
Jun 22, 2026Pinkas JanChief Scientific OfficerSale1,288$17.99$23.2KForm 4
Jun 22, 2026Scalzo Richard WilliamChief Financial OfficerSale1,112$17.99$20.0KForm 4
Jun 22, 2026Bispham Barbara HarlinSee RemarksSale1,218$17.99$21.9KForm 4
Jun 22, 2026Im Ellie EunkyungChief Medical OfficerSale1,219$17.99$21.9KForm 4
Jun 22, 2026McNeill JonathanPresident and COOSale20,549$17.99$369.7KForm 4
Jun 22, 2026Brumm Joshua TChief Executive OfficerSale42,305$17.99$761.1KForm 4
Dec 4, 2025Harwin Peter EvanDirectorBuy1,360,000$13.41$18.2MForm 4
Aug 8, 2024Siren, L.L.C.10% ownerSale260,873$0.19$49.6KForm 4
Aug 7, 2024Siren, L.L.C.10% ownerSale61,488$0.18$11.1KForm 4

All 62 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.

SEC filer profile

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

  • Name on EDGARCRESCENT BIOPHARMA, INC.1
  • CIK0001253689
  • Employer ID (EIN)06-16865633
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company3
  • Incorporated inCayman Islands3
  • Fiscal year endsDecember 311
  • Industry code (SIC)2834 Pharmaceutical Preparations1
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance1
  • Business address300 Fifth Avenue, Waltham, MA 024511
  • Phone617-430-55951
  • Shares outstanding37,143,940 as of Jul 27, 202610
  • Public float$177.2M as of Jun 30, 20253
  • AuditorPricewaterhouseCoopers LLP, Boston, Massachusetts PCAOB ID 238; no auditor attestation of internal control over financial reporting3
  • On EDGAR sinceJul 10, 20031
  • Filings675 in all: 4 (247), 8-K (113), 3 (43), 10-Q (38), SC 13G/A (38), CORRESP (15), SC 13G (15), 424B5 (14)1
    All 47 form types

    S-8 (14), 10-K (13), DEF 14A (11), 425 (10), EFFECT (10), SCHEDULE 13G/A (9), UPLOAD (9), SCHEDULE 13G (8), 424B3 (7), DEFA14A (6), 144 (5), S-3 (5), S-1/A (4), SC 13D/A (4), S-4/A (3), SCHEDULE 13D/A (3), 5 (2), ARS (2), D (2), POS AM (2), REGDEX (2), S-1 (2), SC 13D (2), SEC STAFF LETTER (2), 10-Q/A (1), 4/A (1), 424B4 (1), 8-A12B (1), 8-A12B/A (1), CERTNAS (1), CT ORDER (1), D/A (1), DRS (1), FWP (1), POS EX (1), PRE 14A (1), S-4 (1), S-4 POS (1), SCHEDULE 13D (1)

  • Latest filingsAnnual report (10-K) Feb 26, 2026
    Quarterly report (10-Q) Jul 30, 2026
    Proxy statement (DEF 14A) Apr 21, 2026
    Latest 8-K (8-K) Oct 15, 2026

Securities registered for trading

ClassSymbolExchange
Ordinary Shares, $0.001 par value per shareCBIONasdaq

From the cover page of the 10-K filed Feb 26, 2026 (Section 12(b) of the Exchange Act).3

Risk factors and legal proceedings

The risks CRESCENT BIOPHARMA, INC. names in Item 1A of its 10-K filed Feb 26, 2026: 68 risks under these headings, as written.3

  • Our business faces significant risks and uncertainties. The occurrence of any of these risks could harm our business, financial condition, results of operations and/or growth prospects or cause our actual results to differ materially from those contained in forward-looking statements we have made in this Annual Report on Form 10-K and those we may make from time to time. Additional risks and uncertainties not presently known to us or that we currently believe to be immaterial may also adversely affect our business.
  • Risks Related to Our Financial Condition and Capital Requirements
  • We are a clinical-stage biotechnology company with a limited operating history on which to assess our business; we have not completed any clinical trials, have no products approved for commercial sale, have historically incurred losses, and we anticipate that we will continue to incur significant losses for the foreseeable future. Moreover, we have never generated revenue from product sales and may never be profitable.
  • We have never generated any revenue from product sales and may never be profitable.
  • We are a clinical-stage biotechnology company with a limited operating history on which to assess our business; we have not completed any clinical trials, have no products approved for commercial sale, have historically incurred losses, and anticipates that we will continue to incur significant losses for the foreseeable future.
  • Raising additional capital may cause dilution to our shareholders, restrict our operations, or require us to relinquish rights.
  • Risks Related to Discovery, Development, and Commercialization
  • We face competition from entities that have developed or may develop programs for the diseases addressed by product candidates developed by us.
  • We are substantially dependent on the success of our lead program, CR-001, as well as our ADC programs, CR-002 and CR-003, and our development programs may not be successful.
  • If we do not achieve our projected development goals in the time frames we announce and expect, the commercialization of our product candidates may be delayed and our expenses may increase and, as a result, our share price may decline.
  • Any drug delivery device that we potentially use to deliver our product candidates may have its own regulatory, development, supply and other risks.
  • Our approach to the discovery and development of our programs is unproven, and we may not be successful in our efforts to build a pipeline of programs with commercial value.
The other 58 risks
  • Preclinical and clinical development involves a lengthy and expensive process that is subject to delays and uncertain outcomes, and results of earlier studies and trials may not be predictive of future clinical trial results. If our preclinical studies and clinical trials are not sufficient to support regulatory approval of any of our product candidates, we may incur additional costs or experience delays in completing, or ultimately be unable to complete, the development of such product candidate.
  • If we encounter difficulties enrolling patients in our future clinical trials, our clinical development activities could be delayed or otherwise adversely affected.
  • Preliminary, “topline”, or interim data from our clinical trials that we announce or publish from time to time may change as more patient data become available and are subject to audit and verification procedures.
  • Use of our product candidates could be associated with adverse side effects, adverse events or other properties or safety risks, which could delay or preclude approval, cause us to suspend or discontinue clinical trials, abandon a product candidate, limit the commercial profile of an approved product or result in other significant negative consequences that could severely harm our business, prospects, operating results and financial condition.
  • We may expend our limited resources to pursue a particular program and fail to capitalize on programs that may be more profitable or for which there is a greater likelihood of success.
  • Any approved products resulting from our current programs or any future program may not achieve adequate market acceptance among clinicians, patients, healthcare third-party payors, and others in the medical community necessary for commercial success and we may not generate any future revenue from the sale or licensing of such products.
  • Certain of our programs may compete with our other programs, which could negatively impact our business and reduce our future revenue.
  • We intend to conduct clinical trials, initially for our CR-001 program and for future programs, at sites outside the United States, and the FDA may not accept data from trials conducted in such locations.
  • Risks Related to Government Regulation
  • The regulatory approval processes of the FDA and other comparable foreign regulatory authorities are lengthy, time-consuming, and inherently unpredictable. If we are not able to obtain, or if there are delays in obtaining, required regulatory approvals for our product candidates, we will not be able to commercialize, or will be delayed in commercializing, our product candidates, and our ability to generate revenue will be materially impaired.
  • We may not be able to meet requirements for the chemistry, manufacturing, and control of our programs.
  • Our product candidates for which we intend to seek approval as biologics may face competition sooner than anticipated.
  • Even if we receive regulatory approval of our product candidates, we will be subject to extensive ongoing regulatory obligations and continued regulatory review, which may result in significant additional expense and we may be subject to penalties if we fail to comply with regulatory requirements or experiences unanticipated problems with our product candidates.
  • Current and future U.S. healthcare reform legislation or regulation may increase the difficulty and cost for us to obtain coverage for and commercialize any of our current or future product candidates and may adversely affect the prices we may set.
  • We are subject to various U.S. federal, state and foreign healthcare laws and regulations, which could increase compliance costs, and our failure to comply with these laws and regulations could harm our reputation, subject us to significant fines and liability or otherwise adversely affect our business.
  • The successful commercialization of any of our current or future product candidates, if approved, will depend in part on the extent to which governmental authorities and health insurers establish coverage, adequate reimbursement levels and favorable pricing policies.
  • We are subject to U.S. and certain foreign export and import controls, sanctions, embargoes, anti-corruption laws, and anti-money laundering laws and regulations. We can face criminal liability and other serious consequences for violations, which can harm our business.
  • Governments outside the United States tend to impose strict price controls, which may adversely affect our revenue, if any.
  • Disruptions at the FDA, the SEC and other government agencies and regulatory authorities caused by funding shortages, changes or reductions in agency personnel, or global health concerns 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.
  • Risks Related to Our Intellectual Property
  • We do not currently solely own any issued patents or pending patent applications. Therefore, our ability to obtain and protect our patent rights, and protect other proprietary rights, is uncertain, exposing us to the possible loss of competitive advantage.
  • If we are unable to obtain or maintain necessary rights to our programs through acquisitions and in-licenses, our business may be materially harmed.
  • Our current collaboration with Kelun and any collaboration arrangements that we may enter into in the future may not be successful, which could adversely affect our ability to develop and commercialize our products.
  • We may be subject to patent infringement claims or may need to file claims to protect our intellectual property, which could result in substantial costs and liability and prevent us from commercializing our potential products.
  • We may be subject to claims that we have wrongfully hired an employee from a competitor or that our employees, consultants, or independent contractors have wrongfully used or disclosed confidential information of third parties.
  • Changes to patent laws in the United States and other jurisdictions could diminish the value of patents in general, thereby impairing our ability to protect our products.
  • Obtaining and maintaining 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 non-compliance with these requirements.
  • We may not identify relevant third-party patents or may incorrectly interpret the relevance, scope, or expiration of a third-party patent, which might adversely affect our ability to develop and market our products.
  • We may become subject to claims challenging the inventorship or ownership of our patents and other intellectual property.
  • Patent terms may be inadequate to protect the competitive position of our product candidates for an adequate amount of time.
  • The technology we currently license from Paragon and Kelun and any future technology we may license from various third parties in the future, may be subject to retained rights.
  • We may be unable to protect the confidentiality of our trade secrets and other proprietary information.
  • BPCIA litigation is complex, costly, and unpredictable, and unfavorable outcomes could result in the invalidity or unenforceability of our patents.
  • Risks Related to Our Reliance on Third Parties
  • We currently rely on licensing arrangements with Paragon and Kelun under the Paragon License Agreement and Kelun License Agreement and may in the future rely on other intellectual property licensed from third parties. If we are unable to maintain our current collaborations or licensing arrangements, or if our collaborations or licensing arrangements are not successful, our business could be negatively impacted.
  • We currently rely, and plan to rely in the future, on third parties to conduct and support our preclinical studies and clinical trials. If these third parties do not properly and successfully carry out their contractual duties or meet expected deadlines, we may not be able to obtain regulatory approval of or commercialize our product candidates.
  • We rely on third parties who operate in China, which may expose us to additional risks.
  • We currently rely and expect to rely in the future on the use of manufacturing sites in third-party facilities or on third parties to manufacture our product candidates, and we may rely on third parties to produce and process our products, if approved. Our business could be adversely affected if we are unable to use third-party manufacturing suites or if the third-party manufacturers encounter difficulties in production.
  • Risks Related to Employee Matters, Managing Growth and Other Risks Related to Our Business
  • In order to successfully implement our plans and strategies, we will need to grow the size of our organization and we may experience difficulties in managing this growth.
  • We are highly dependent on our key personnel and anticipate hiring new key personnel. If we are not successful in attracting and retaining highly qualified personnel, we may not be able to successfully implement our business strategy.
  • Our future growth may depend, in part, on our ability to operate in foreign markets, where we would be subject to additional regulatory burdens and other risks and uncertainties.
  • Our estimates of market opportunity and forecasts of market growth may prove to be inaccurate, and even if the markets in which we compete achieve the forecasted growth, our business may not grow at similar rates, or at all.
  • Our employees, independent contractors, consultants, commercial collaborators, principal investigators, CROs, CMOs, suppliers, and vendors may engage in misconduct or other improper activities, including noncompliance with regulatory standards and requirements.
  • Our internal information technology systems, or those of any of our CROs, manufacturers, other contractors or consultants, third-party service providers, or potential future collaborators, may fail or suffer security or data privacy breaches or other unauthorized or improper access to, use of, or destruction of our proprietary or confidential data, employee data, or personal data, which could result in additional costs, loss of revenue, significant liabilities, harm to our brand, and material disruption of our operations.
  • We are subject to stringent and changing laws, regulations and standards, and contractual obligations relating to privacy, data protection, and data security. The actual or perceived failure to comply with such obligations could lead to government enforcement actions (which could include civil or criminal penalties), fines and sanctions, private litigation, and/or adverse publicity and could negatively affect our operating results and 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 have a material adverse effect on the success of our business.
  • We may be subject to adverse legislative or regulatory tax changes that could negatively impact our financial condition.
  • We may acquire businesses or products, or form strategic alliances, in the future, and may not realize the benefits of such acquisitions.
  • We maintain our cash at financial institutions, often in balances that exceed federally-insured limits. The failure of financial institutions could adversely affect our ability to pay our operational expenses or make other payments.
  • Risks Related to Owning Our Ordinary Shares
  • Preferred directors elected by the holders of our Series A Preferred Shares have the ability to control or significantly influence all matters submitted to our board of directors for approval.
  • We are governed by Cayman Islands law, and certain provisions of our Articles of Association have anti-takeover implications.
  • Our Articles of Association designate the courts of the Cayman Islands as the sole and exclusive forum for certain types of actions and proceedings that may be initiated by our shareholders, which could limit your ability to obtain a favorable judicial forum for disputes with us or our directors, officers or other employees.
  • Future sales of shares by existing shareholders could cause our share price to decline.
  • We do not anticipate that we will pay any cash dividends in the foreseeable future.
  • Our executive officers, directors, and principal shareholders have the ability to control or significantly influence all matters submitted to our shareholders for approval.
  • If equity research analysts do not publish research or reports, or publish unfavorable research or reports about us, our business or our market, our share price and trading volume could decline.
  • Our ability to use Net Operating Loss (“NOL”) carryforwards and other tax attributes may be limited, including as a result of the Merger.
  • General Risk Factors
  • We may become exposed to costly and damaging liability claims, either when testing a product candidate in the clinic or at the commercial stage, and our product liability insurance may not cover all damages from such claims.
  • Litigation costs and the outcome of litigation could have a material adverse effect on our business.
  • Our business could be adversely affected by factors outside of our control, including, but not limited to, economic downturns, inflation, increases in interest rates, natural disasters, public health crises, political crises, geopolitical events, or other macroeconomic conditions, which could have a material and adverse effect on our results of operations and financial condition.
  • Our business could be negatively impacted by sustainability or environmental, social and corporate governance (“ESG”) matters or our reporting of such matters.

Legal proceedings

From time to time, we may become involved in legal proceedings relating to claims arising from the ordinary course of business. Our management believes that there are currently no claims or actions pending against us, the ultimate disposition of which could reasonably be expected to have a material adverse effect on our results of operations, financial condition or cash flows.

The opening of Item 3, Legal Proceedings.3

Sources

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  64. 64
  65. 65
  66. 66
  67. 67
  68. 68
  69. 69
  70. 70
  71. 71
  72. 72
  73. 73
  74. 74