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CTNM on Nasdaq

Contineum Therapeutics, Inc.

In its 2026 annual report the company says: “We are a clinical-stage biopharmaceutical company pioneering differentiated therapies for the treatment of NI&I indications with significant unmet need. We focus on developing selective compounds targeting challenging molecular pathways and have built a portfolio of small molecule drug candidates. We are developing PIPE-307 in collaboration with J&J.”4 It is headquartered in San Diego, California.1 Its shares trade on Nasdaq under the symbol CTNM.1

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Last updated Oct 21, 2026.

Overview

-$60.0MNet income, fiscal 20252

Compare with Semnur Pharmaceuticals, Inc., Lexicon Pharmaceuticals or Gossamer Bio, Inc., or pick any stock.

  • TickerCTNM on Nasdaq1
  • IndustryPharmaceutical Preparations1
  • HeadquartersSan Diego, California1
  • Incorporated inDE3
  • Business address3565 General Atomics Court, Suite 200, San Diego, Ca 921213
  • Filer category, Emerging growth company3

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We are a clinical-stage biopharmaceutical company pioneering differentiated therapies for the treatment of NI&I indications with significant unmet need. We target biological pathways associated with specific clinical impairments that we believe, once modulated, will demonstrably alter the course of disease.4 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 2024

-100.0%Revenue growth, 20245
-21.3%Return on equity2
-$33.4MFree cash flow2

Financial statements

Revenue5$0 in 2024
0$20.0M$40.0M$60.0M2023: $50.0M$50.0M20232024: $0$02024
Operating income52-$50.9M in 2024
-$60.0M-$40.0M-$20.0M0$20.0M2023: $16.1M$16.1M20232024: -$50.9M-$50.9M2024
Net income52-$42.3M in 2024
-$60.0M-$40.0M-$20.0M0$20.0M$40.0M2023: $22.7M$22.7M20232024: -$42.3M-$42.3M2024

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

Period ending2025-12-312024-12-31
Research and development$51.5M$38.4M
General and administrative$16.5M$12.5M
Total operating expenses$68.1M$50.9M
Loss from operations-$68.1M-$50.9M
Interest income$8.2M$8.9M
Change in fair value of warrant liability$0-$106.0K
Other expense, net-$165.0K-$163.0K
Total other income, net$8.1M$8.6M
Net loss-$60.0M-$42.3M
Unrealized gain on marketable securities$189.0K-$37.0K
Comprehensive loss-$59.8M-$42.3M
Net loss per share, basic (in dollars per share)-$2.17-$2.18
Net loss per share, diluted (in dollars per share)-$2.17-$2.18
Weighted-average shares of common shares outstanding, basic (in shares)27.7M shares19.4M shares
Weighted-average shares of common shares outstanding, diluted (in shares)27.7M shares19.4M shares

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Corporate structure

Contineum Therapeutics, 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 Contineum Therapeutics, Inc.

  • Contineum Therapeutics, Inc. San Diego, California

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

What it owns

What Contineum Therapeutics, 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$2.8M2 Dec 31, 2025$2.7M2 Dec 31, 2024+3.2%
Accumulated depreciation$2.0M2 Dec 31, 2025$1.7M2 Dec 31, 2024+14.3%
Property and equipment, net$830.0K2 Dec 31, 2025$989.0K2 Dec 31, 2024−16.1%
Operating-lease assets (leased space)$7.6M2 Dec 31, 2025$5.5M2 Dec 31, 2024+39.7%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$75.6M2 Dec 31, 2025$21.9M2 Dec 31, 2024+244.5%
Marketable securities, current$187.3M2 Dec 31, 2025$182.8M2 Dec 31, 2024+2.4%
Debt securities available for sale$187.3M2 Dec 31, 2025$182.8M2 Dec 31, 2024+2.4%

Properties, in its own words

Our corporate headquarters is located at 3565 General Atomics Court, Suite 200, San Diego, California 92121, where we lease office and laboratory space pursuant to a lease agreement which commenced in October 2024 and expires in October 2029. In August 2025, we signed an amendment to our existing lease agreement to get access to an additional 5,309 square feet of office and laboratory space within our existing location. We believe that the lease agreement for our corporate headquarters is adequate to meet our needs for the foreseeable future. As we expand, we believe that suitable

additional alternative spaces will be available in the future on commercially reasonable terms, if required. See Note 10 to our financial statements included elsewhere in this Annual Report on Form 10-K for additional information.

Item 2 of the 10-K filed Mar 5, 2026.4

Leadership

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

Chief executive

  1. Carmine N. Stengone2024–now

President

  1. Carmine N. Stengone2024–now

Chief financial officer

  1. Peter T. Slover2024–now
2025
Board members and other officers (11)

Timeline

  1. Sep 14, 20268-K Other events21
  2. Jul 30, 20268-K Results of operations22
  3. Jul 13, 20268-K Regulation FD disclosure23
  4. Jun 26, 20268-K Shareholder vote24
  5. May 5, 20268-K Results of operations25
  6. Apr 30, 20268-K Regulation FD disclosure; Other events26
  7. Mar 5, 20268-K Results of operations; Other events27
  8. Jan 26, 20268-K Executive or director change28
  9. Dec 15, 20258-K Entered a material agreement; Other events29
  10. Dec 11, 20258-K Other events30
  11. Nov 20, 20258-K Other events31
  12. Oct 30, 20258-K Results of operations32
  13. Apr 4, 2024New chief executive Carmine N. Stengone becomes CEO9

Calendar

Coming up

  1. Oct 29, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($0.45) a share, on Oct 30, 2025.33

When it reported results

  1. Jul 30, 2026Reported quarterly or annual results22
  2. May 5, 2026Reported quarterly or annual results25
  3. Mar 5, 2026Reported quarterly or annual results27
  4. Oct 30, 2025Reported quarterly or annual results32
  5. Aug 5, 2025Reported quarterly or annual results34
  6. May 14, 2025Reported quarterly or annual results35
  7. Mar 6, 2025Reported quarterly or annual results36
  8. Nov 6, 2024Reported quarterly or annual results37

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

Filings

194 filings to the SEC since October 2021: 2 annual reports, 8 quarterly reports, 27 major events, 78 insider forms, 22 large holders, 57 other. The latest 20:

  1. Oct 1, 2026144 EDGAR
  2. Sep 14, 20268-K EDGAR
  3. Sep 8, 2026144 EDGAR
  4. Sep 8, 20264 EDGAR
  5. Sep 1, 2026144 EDGAR
  6. Aug 14, 2026SCHEDULE 13G/A EDGAR
  7. Aug 3, 2026144 EDGAR
  8. Aug 3, 2026144 EDGAR
  9. Aug 3, 20264 EDGAR
  10. Jul 30, 202610-Q EDGAR
  11. Jul 30, 20268-K EDGAR
  12. Jul 27, 2026SCHEDULE 13G EDGAR
  13. Jul 17, 2026SCHEDULE 13G/A EDGAR
  14. Jul 13, 20268-K EDGAR
  15. Jul 10, 20264 EDGAR
  16. Jul 8, 2026144 EDGAR
  17. Jul 8, 20264 EDGAR
  18. Jul 2, 20264 EDGAR
  19. Jul 1, 2026144 EDGAR
  20. Jul 1, 20264 EDGAR

The 194 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

28 open-market trades by officers, directors and large owners since October 2021: 0 buys and 28 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 8, 2026Stengone Carmine N.CEO and PresidentSale2,500$16.46$41.1KForm 4
Aug 3, 2026Stengone Carmine N.CEO and PresidentSale2,500$16.01$40.0KForm 4
Jul 9, 2026Lorrain Daniel S.Chief Scientific OfficerSale25$16.00$400Form 4
Jul 8, 2026Lorrain Daniel S.Chief Scientific OfficerSale1,015$16.00$16.2KForm 4
Jul 8, 2026Stengone Carmine N.CEO and PresidentSale2,500$16.00$40.0KForm 4
Jul 1, 2026Lorrain Daniel S.Chief Scientific OfficerSale8,353$15.84$132.3KForm 4
Jun 30, 2026Lorrain Daniel S.Chief Scientific OfficerSale28,826$16.04$462.4KForm 4
Jun 30, 2026Watkins TimCMO & Head of DevelopmentSale10,833$16.02$173.5KForm 4
Jun 30, 2026Stengone Carmine N.CEO and PresidentSale10,000$16.01$160.1KForm 4
Jun 1, 2026Lorrain Daniel S.Chief Scientific OfficerSale4,170$13.16$54.9KForm 4
May 1, 2026Lorrain Daniel S.Chief Scientific OfficerSale4,170$13.12$54.7KForm 4
Apr 6, 2026Lorrain Daniel S.Chief Scientific OfficerSale4,170$13.43$56.0KForm 4
Mar 2, 2026Lorrain Daniel S.Chief Scientific OfficerSale4,170$15.01$62.6KForm 4
Mar 2, 2026Watkins TimCMO & Head of DevelopmentSale3,611$15.02$54.2KForm 4
Feb 25, 2026Stengone Carmine N.CEO and PresidentSale2,700$16.02$43.3KForm 4
Feb 25, 2026Lorrain Daniel S.Chief Scientific OfficerSale3,824$16.01$61.2KForm 4
Feb 24, 2026Stengone Carmine N.CEO and PresidentSale4,400$16.02$70.5KForm 4
Feb 24, 2026Lorrain Daniel S.Chief Scientific OfficerSale4,300$16.03$68.9KForm 4
Feb 19, 2026Lorrain Daniel S.Chief Scientific OfficerSale100$16.00$1.6KForm 4
Feb 11, 2026Stengone Carmine N.CEO and PresidentSale400$16.00$6.4KForm 4

All 28 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.

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
2025Carmine N. Stengone50$655.6K$3.4M48
2025Timothy R. WatkinsM.D., MSc.$359.5K$1.8M48
2025Peter T. Slover51$487.5K$1.6M48
2024President and Chief Executive Officer$608.1K$4.9M48

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Montanova Capital, LLC2,841,334$46.6M1.0%No change
Jupiter Topco LLC2,734,836$44.8M0.0%New
BlackRock, Inc.2,064,345$33.8M0.0%+1,395,222
Johnson & Johnson1,979,173$32.4M4.1%No change
Franklin Resources Inc1,839,227$30.1M0.0%No change
Balyasny Asset Management L.P.1,522,793$25.0M0.0%−162,842
Vanguard Capital Management LLC1,321,356$21.7M0.0%+107,183
Perceptive Advisors LLC1,255,592$20.6M0.3%No change
Fmr LLC1,040,130$17.0M0.0%+225,259
Millennium Management LLC931,709$15.3M0.0%−603,740
Great Point Partners LLC921,481$15.1M3.6%+121,283
Longaeva Partners L.P.812,757$13.3M0.4%+80,669
Ikarian Capital, LLC807,874$13.2M2.2%No change
Sectoral Asset Management Inc727,587$11.9M8.3%No change
Geode Capital Management, LLC693,188$11.4M0.0%+411,150
Hhlr Advisors, Ltd.669,337$11.0M1.3%No change
Red Tree Management, LLC638,158$10.5M7.1%No change
Versant Venture Management, LLC542,628$8.9M5.5%No change
Goldman Sachs Group Inc497,255$8.2M0.0%+190,147
Boxer Capital Management, LLC494,000$8.1M0.6%No change
State Street Corp425,902$7.0M0.0%+324,624
Citadel Advisors LLC396,354$6.5M0.0%+46,154
Adage Capital Partners Gp, L.l.c.328,000$5.4M0.0%New
Silverarc Capital Management, LLC296,135$4.9M0.5%−5,594
ADAR1 Capital Management, LLC278,961$4.6M0.2%+2,300

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

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

  • Name on EDGARContineum Therapeutics, Inc.1
  • CIK0001855175
  • Employer ID (EIN)27-14672574
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company4
  • Incorporated inDelaware4
  • Fiscal year endsDecember 311
  • Industry code (SIC)2834 Pharmaceutical Preparations1
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance1
  • Business address3565 General Atomics Court, Suite 200, San Diego, CA 921211
  • Phone(858) 333-52801
  • Shares outstanding32,673,536 Common Class A shares; 4,662,500 Common Class B shares as of Feb 27, 20264
  • Public float$102.1M as of Jun 30, 20254
  • AuditorErnst & Young LLP, San Diego, California PCAOB ID 42; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceDec 13, 20231
  • Filings194 in all: 4 (63), 8-K (26), 144 (20), 3 (15), SCHEDULE 13G/A (11), 10-Q (8), SCHEDULE 13G (7), CORRESP (5)1
    All 28 form types

    S-8 (4), SC 13G (4), UPLOAD (4), 424B5 (3), 10-K (2), ARS (2), DEF 14A (2), DEFA14A (2), DRS/A (2), DRSLTR (2), EFFECT (2), SEC STAFF LETTER (2), 424B4 (1), 8-A12B (1), 8-K/A (1), CERT (1), DRS (1), S-1 (1), S-1/A (1), S-3 (1)

  • Latest filingsAnnual report (10-K) Mar 5, 2026
    Quarterly report (10-Q) Jul 30, 2026
    Proxy statement (DEF 14A) Apr 30, 2026
    Latest 8-K (8-K) Sep 14, 2026

Securities registered for trading

ClassSymbolExchange
Class A Common Stock, $0.001 par value per shareCTNMNasdaq

From the cover page of the 10-K filed Mar 5, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks Contineum Therapeutics, Inc. names in Item 1A of its 10-K filed Mar 5, 2026: 71 risks under these headings, as written.4

  • Risks Related to Development, Clinical Testing, and Regulatory Approval
  • We are heavily dependent on the success of PIPE-791, our lead drug candidate, and PIPE-307, both of which are in the early stages of clinical development. If these drug candidates do not progress through clinical development, eventually receive regulatory approval or, even if approved, are not successfully commercialized, our business will be materially adversely harmed.
  • The regulatory approval processes of the FDA and comparable foreign regulatory authorities are unpredictable, lengthy, and time-consuming, and if we are ultimately unable to obtain regulatory approval for PIPE-791 or any other drug candidates that we develop or J&J is unable to obtain regulatory approval for PIPE-307, our business will be substantially harmed.
  • We may not be successful in our efforts to identify and develop additional drug candidates or identify additional indications. Due to our limited resources and access to capital, we must prioritize development of a limited number of drug candidates, the choice of which may prove to be wrong and adversely affect our business and prospects.
  • We have and may continue to conduct future clinical trials outside of the United States. The FDA and other regulatory authorities or ethics committees may not accept data from such trials, in which case our development plans will be delayed, which could materially harm our business and financial condition.
  • Enrollment and retention of patients in clinical trials is an expensive and time-consuming process and could be made more difficult or rendered impossible by multiple factors outside our control.
  • Interim and preliminary “top-line” data from our clinical trials that we announce or publish from time to time may change as more patient data becomes available and is subject to audit and verification procedures that could result in material changes in the final data.
  • The administration of PIPE-791 and/or PIPE-307 may cause serious adverse events or undesirable side effects, which may halt their clinical development, delay or prevent marketing approval, or, if approved, require them to be taken off the market, include safety warnings, or otherwise limit their sales.
  • The market opportunities for the drug candidates we develop, if approved, may be smaller than we anticipate and, as a result, our commercial opportunities may be limited.
  • We have never obtained marketing approval for any drug candidate and we may be unable to obtain, or may be delayed in obtaining, marketing approval for any drug candidate.
  • Even if we obtain FDA approval for a drug candidate in the United States, we may never obtain approval for the drug candidate in any other jurisdiction or commercialize the drug candidate in the United States or in any other jurisdiction, which would limit our ability to realize its full market potential.
  • Even if we obtain regulatory approval for any drug candidate, we will still face extensive and ongoing regulatory requirements and obligations, which may result in significant additional expense, and any drug candidates, if approved, may face future development and regulatory difficulties.
The other 60 risks
  • We may seek a breakthrough therapy and/or orphan drug designation for PIPE-791 or future drug candidates, but we might not receive such designations, and even if we do, we may not maintain such designations, and such designations may not lead to faster development, regulatory review or approval, and will not increase the likelihood that the drug candidate will receive marketing approval.
  • We may seek approval of our drug candidates, where applicable, under the FDA’s accelerated approval pathway. This pathway, even if granted for PIPE-791 or any other future drug candidates, may not lead to a faster development, regulatory review or approval process or launch and it does not increase the likelihood that our drug candidates will receive marketing approval in the United States.
  • Potential product liability lawsuits against us could cause us to incur substantial liabilities and limit commercialization of any products that we may develop.
  • The biopharmaceutical industry is subject to extensive regulatory obligations and policies that are subject to change, including due to judicial challenges.
  • Risks Related to our Financial Position and Need for Additional Capital
  • We have incurred significant operating expenses since inception and anticipate that our operating expenses will continue to significantly increase for the foreseeable future. As a result, we may be unable to sustain profitability, and if we are unable to achieve sustained profitability, the market value of our common stock will likely decline.
  • We have a limited operating history and the drug candidates we have developed are in the early stages of clinical development, which may make it difficult to evaluate the prospects for our future viability.
  • We will require significant additional capital to complete the development and commercialization of PIPE-791 and the other drug candidates we select for development.
  • Risks Related to our Existing Collaboration Agreement and any Collaboration Agreements we may enter into in the Future
  • If the J&J License Agreement does not result in the successful development of PIPE-307, our business, financial condition and results of operations will be harmed.
  • We may not recognize the financial and other benefits of any additional collaborations or strategic alliances that we may enter into in the future for the development and commercialization of our drug candidates.
  • We may seek to grow our business through in-licensing transactions or otherwise by acquiring drug candidates or complementary products, technologies or businesses. The failure to properly identify these drug candidates, products, technologies or businesses, as well as the failure to successfully complete transactions or to integrate any such drug candidates, products, technologies or businesses that we do in-license or acquire with our existing business, could harm our business, financial condition and operating results.
  • Risks Related to our Intellectual Property
  • If we are unable to obtain, maintain and enforce intellectual property protection for our technology and drug candidates or if the scope of the intellectual property protection we obtain is not sufficiently broad, our competitors could develop and commercialize technology and products similar or identical to ours, and our ability to successfully commercialize and generate revenues from our drug candidates may be adversely affected.
  • Patent terms may be inadequate to protect our competitive position on our drug candidates for an adequate amount of time.
  • If we do not obtain patent term extension in the United States under the Hatch-Waxman Act and in foreign countries under similar legislation, thereby potentially extending the term of our marketing exclusivity for any drug candidates we may develop, our business may be materially harmed.
  • 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.
  • If we are unable to obtain licenses from third parties on commercially reasonable terms or fail to comply with our obligations under such agreements, our business could be harmed.
  • Although we are not currently involved in any litigation, we may become involved in lawsuits to protect or enforce our patent or other intellectual property rights, which could be expensive, time-consuming and unsuccessful.
  • Third parties may initiate legal proceedings alleging that we are infringing, misappropriating or otherwise violating their intellectual property rights, the outcome of which would be uncertain and could have a material adverse effect on the success of our business.
  • Intellectual property litigation or other legal proceedings relating to intellectual property could cause us to spend substantial resources and distract our personnel from their normal responsibilities.
  • Obtaining and maintaining patent protection depends on compliance with various procedural, document submission, 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 not be able to protect our intellectual property and proprietary rights throughout the world.
  • We may be subject to claims challenging the inventorship or ownership of our patents and other intellectual property.
  • We may be subject to claims by third parties asserting that our employees, consultants or contractors have wrongfully used or disclosed confidential information of third parties, or we have wrongfully used or disclosed alleged trade secrets of their current or former employers, or claims asserting we have misappropriated their intellectual property, or claiming ownership of what we regard as our own intellectual property.
  • If we are unable to protect the confidentiality of our trade secrets, our business and competitive position would be harmed.
  • If our trademarks and trade names are not adequately protected, then we may not be able to build name recognition in our markets of interest and our business may be adversely affected.
  • Intellectual property rights do not necessarily address all potential threats.
  • Risks Related to our Dependence on Third Parties
  • We currently rely on third-party CMOs for the production of clinical supplies of PIPE-791 and we intend to rely on CMOs for our future drug candidates, as well as to supply the raw materials necessary to produce our drug candidates. We may elect to continue to rely on CMOs for the production of commercial supplies of PIPE-791, if approved. Our dependence on CMOs may impair our development of drug candidates and may impair their commercialization, which would adversely impact our business and financial position.
  • We rely on third parties to conduct our ongoing clinical trials of PIPE-791 and expect to rely on third parties to conduct future clinical trials of PIPE-791 and any other drug candidates that we develop. If these third parties do not successfully carry out their contractual duties, comply with regulatory requirements or meet expected deadlines, we may not be able to obtain regulatory approval for or commercialize the drug candidates we develop and our business could be substantially harmed.
  • We intend to rely on CROs, and other third parties to conduct our preclinical studies. If those third parties do not successfully carry out their contractual duties, or if they perform in an unsatisfactory manner, it may harm our business.
  • Our third-party manufacturers may be unable to successfully scale-up manufacturing of our drug candidates in sufficient quality and quantity, which could delay or prevent us from developing our drug candidates and commercializing approved products, if any.
  • Manufacturing of the API for PIPE-791 takes place in China, through a sole third-party manufacturer. A significant disruption in the operation of this manufacturer could materially adversely affect our business, financial condition and results of operations.
  • Our employees and independent contractors, including principal investigators, CROs, consultants, vendors, and any third parties we may engage in connection with development and commercialization may engage in misconduct or other improper activities, including noncompliance with regulatory standards and requirements, which could have a material adverse effect on our business.
  • Risks Related to Healthcare Laws and Other Legal Compliance Matters
  • Recent and future changes in healthcare legislation and regulations may increase the difficulty and cost to obtain marketing approval for a drug candidate, increase the costs to commercialize an approved product, and adversely affect the price set for such product.
  • Our business operations and current and future relationships with contractors, investigators, healthcare professionals, consultants, third-party payors, patient organizations, customers, and others will be subject to applicable healthcare regulatory laws, which could expose us to penalties.
  • Any clinical trial programs, marketing, or research collaborations in the European Economic Area will subject us to the GDPR.
  • We are subject to environmental, health and safety laws and regulations, and we may become exposed to liability and substantial expenses in connection with environmental compliance or remediation activities.
  • We are subject to certain U.S. and foreign anti-corruption, anti-money laundering, export control, sanctions, and other trade laws and regulations. We can face serious consequences for violations.
  • Risks Related to our Employees, Managing our Growth and our Operations
  • Our future success depends on our ability to retain our key personnel and to attract, retain and motivate qualified personnel.
  • We expect to expand our development, regulatory, and sales and marketing capabilities, and as a result, we may encounter difficulties in managing our growth, which could disrupt our operations.
  • Our business and operations could be materially and adversely affected in the event of system failures.
  • Our proprietary or confidential information may be lost, or we may suffer security breaches.
  • Risks Related to Commercialization
  • We face significant competition from biotechnology, pharmaceutical, and medical device companies, and our operating results will suffer if we fail to compete effectively and in a timely manner.
  • Even if PIPE-791 or PIPE-307 receives marketing approval in an indication, it may fail to achieve market acceptance by physicians, patients, third-party payors, or others in the medical community necessary for commercial success.
  • We have no sales, marketing or distribution capabilities or experience. If we are unable to establish sales and marketing capabilities either on our own or in collaboration with third parties, we may not be successful in commercializing PIPE-791, even if approved.
  • The successful commercialization of PIPE-791 or PIPE-307 will depend in part on the extent to which governmental authorities and health insurers establish adequate coverage, reimbursement levels, and pricing policies for such drug candidates. Failure to obtain or maintain coverage and adequate reimbursement for PIPE-791 or PIPE-307, even if approved, could limit our or J&J’s ability to market these products and decrease the revenue we generate or the royalties we receive.
  • The insurance coverage and reimbursement status of newly-approved products is uncertain. Failure to obtain or maintain adequate coverage and reimbursement for an approved products could limit the ability to market the product and decrease the revenues we ultimately receive.
  • If we fail to comply with our reporting and payment obligations under the Medicaid Drug Rebate program or other governmental pricing programs, if we participate in these programs, we could be subject to additional rebate
  • requirements, penalties, or other sanctions, which could have a material adverse effect on our business, financial condition, results of operations, and growth prospects.
  • A variety of risks associated with operating internationally could materially adversely affect our business.
  • Risks Related to Ownership and our Common Stock
  • The market price of our common stock may be volatile and fluctuate substantially, which could result in substantial losses for our stockholders.
  • We have a limited trading history and there is no assurance that a robust market in our common stock will develop or be sustained.
  • Sales of a substantial number of shares of our common stock in the public market could cause the price of our common stock to fall.
  • Our directors, executive officers and holders of greater than 5% of our common stock own a significant percentage of our common stock and, if they choose to act together, will be able to exert significant influence over matters subject to stockholder approval.
  • The dual series structure of our Class A and Class B common stock may limit your ability to influence corporate matters and may limit your visibility with respect to certain transactions.
  • If our estimates or judgments relating to our critical accounting policies are based on assumptions that change or prove to be incorrect, our results of operation could fall below our publicly announced guidance or the expectations of securities analysts and investors, resulting in a decline in the market price of our common stock.
  • We are an “emerging growth company,” and a “smaller reporting company” and we cannot be certain if the reduced reporting requirements applicable to emerging growth companies or smaller reporting companies will make our common stock less attractive to investors.
  • We do not intend to pay cash dividends for the foreseeable future. Consequently, you must rely on sales of our common stock after price appreciation, which may never occur, as the only way to realize any future gains on your investment.
  • Delaware law and provisions in our amended and restated certificate of incorporation and amended and restated bylaws could make a merger, tender offer or proxy contest difficult, thereby depressing the trading price of our common stock.
  • Our amended and restated certificate of incorporation provides that the Court of Chancery of the State of Delaware and the U.S. federal district courts are the exclusive forums for substantially all disputes between us and our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers or employees.
  • General Risk Factors
  • If securities or industry analysts do not publish research or publish inaccurate or unfavorable research about our business, our stock price and trading volume could decline.

Legal proceedings

From time to time, we may become involved in various legal proceedings and claims that arise in the ordinary course of our business activities. We are not currently a party to any material legal proceedings. Regardless of the outcome, litigation could have an adverse impact on us because of defense and settlement costs, diversion of management resources, negative publicity, reputational harm and other factors.

The opening of Item 3, Legal Proceedings.4

Sources

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