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EDSA on Nasdaq

Edesa Biotech, Inc.

In its 2025 annual report the company says: “We are a biopharmaceutical company developing innovative ways to treat inflammatory and immune-related diseases. Our approach is to acquire, develop and commercialize drug candidates based on mechanisms of action that have demonstrated proof-of-concept in human subjects. We prioritize our efforts on disease indications where there is compelling scientific rationale, no approved therapies or where there are unmet medical needs, and where there are large addressable market opportunities, among other factors.”4 Its shares trade on Nasdaq under the symbol EDSA.1

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Last updated Oct 21, 2026.

Overview

-$7.2MNet income, fiscal 20252

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  • TickerEDSA on Nasdaq1
  • IndustryPharmaceutical Preparations1
  • HeadquartersA11
  • Incorporated inBritish Columbia, Canada3
  • Business addressC/O Fasken Martineau Dumoulin Llp, 333 Bay Street, Suite 2400, Toronto, M5H 2T63
  • Filer categoryNon-accelerated filer, Smaller reporting company3
  • Legal formCorporation

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We are a biopharmaceutical company developing innovative ways to treat inflammatory and immune-related diseases. Our approach is to acquire, develop and commercialize drug candidates based on mechanisms of action that have demonstrated proof-of-concept in human subjects. We prioritize our efforts on disease indications where there is compelling scientific rationale, no approved therapies or where there are unmet medical needs, and where there are large addressable market opportunities, among other factors. Our clinical pipeline is focused on two therapeutic areas: Medical Dermatology and Respiratory.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 2021

-100.0%Revenue growth, 20215
-102.2%Return on equity6
-$13.7MFree cash flow7

Financial statements

Revenue85$0 in 2021
0$100.0K$200.0K$300.0K$400.0K2018: $211.8K$211.8K20182020: $328.8K$328.8K2020+55%2021: $0$02021
Operating income857-$23.7M in 2021+366% since 2018
-$30.0M-$20.0M-$10.0M02018: -$5.1M-$5.1M20182020: -$6.4M-$6.4M2020+26%2021: -$23.7M-$23.7M2021+270%
Net income857-$13.3M in 2021+165% since 2018
-$15.0M-$10.0M-$5.0M02018: -$5.0M-$5.0M20182020: -$6.4M-$6.4M2020+26%2021: -$13.3M-$13.3M2021+110%

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

Period ending2025-09-302024-09-30
Research and development$3.7M$2.9M
General and administrative$4.2M$4.1M
Loss from operations-$7.9M-$7.0M
Reimbursement grant income$783.9K$698.3K
Interest income$2.6K$153.5K
Misc other income$0$14.8K
Foreign exchange loss-$59.6K-$21.0K
Nonoperating Income (Expense)$726.8K$845.5K
Loss before income taxes-$7.2M-$6.2M
Income tax expense$800$800
Net loss-$7.2M-$6.2M
Exchange differences on translation$76.8K-$28.0K
Net comprehensive loss-$7.1M-$6.2M
Weighted average number of common shares (in shares)5.7M shares3.2M shares
Loss per common share - basic and diluted (in dollars per share)-$1.27-$1.93

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Corporate structure

Edesa Biotech, 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 Edesa Biotech, Inc.

  • Edesa Biotech, Inc. A1

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

What it owns

What Edesa Biotech, 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$52.5K13 Sep 30, 2024$52.5K13 Sep 30, 20230%
Accumulated depreciation$52.5K13 Sep 30, 2024$43.8K13 Sep 30, 2023+19.8%
Property and equipment, net$013 Sep 30, 2024$8.7K13 Sep 30, 2023−100.0%
Operating-lease assets (leased space)$02 Sep 30, 2025$18.4K2 Sep 30, 2024−100.0%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$10.8M2 Sep 30, 2025$1.0M13 Sep 30, 2024+980.0%

Intangibles and goodwill

ItemLatestA year beforeChange
Accumulated amortization$551.8K2 Sep 30, 2025$450.6K2 Sep 30, 2024+22.5%
Finite-lived intangibles, net$2.0M2 Sep 30, 2025$2.1M2 Sep 30, 2024−4.9%

Properties, in its own words

We currently lease approximately 2,800 square feet of office space for our executive offices in Markham, Ontario, from 1968160 Ontario Inc., an entity affiliated with Dr. Nijhawan. Pursuant to the lease, as amended and extended on December 31, 2022, the term of the lease expired on December 31, 2024. The lease was subsequently extended to November 30, 2025 and thereafter, the arrangement continues on a month-to-month basis and either party may terminate on 30 days’ notice. We believe our current offices are sufficient to meet our needs. We may seek to negotiate new leases or evaluate additional or alternate space to accommodate operations. We believe that appropriate alternative space is readily available on commercially reasonable terms.

Item 2 of the 10-K filed Dec 12, 2025.4

Leadership

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

Chief executive

  1. Frank R. Oakes2014–2019
  2. Pardeep Nijhawan2019–now

President

  1. Frank R. Oakes2014–2019
  2. Michael J. Brooks2019–now

Chief financial officer

  1. Kathi Niffenegger2014–2022
  2. Stephen Lemieux2023
  3. Peter J. Weiler2025–now

Chief operating officer

  1. Mary Catherine Brisson2014–2015
201520202025
Board members and other officers (19)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • DirectorCharles Olson named Feb 14, 2025 to Jun 26, 202638
  • DirectorDavid Liu named Feb 14, 2025 to Jun 26, 202638
  • DirectorSean MacDonald named Apr 5, 2022 to Jun 26, 202638

Former names

  • Stellar Biotechnologies, Inc.Feb 3, 2012 to May 30, 20193

Timeline

  1. Oct 15, 20268-K Other events39
  2. Aug 20, 20268-K Entered a material agreement; Other events40
  3. Aug 13, 20268-K Results of operations41
  4. Jun 11, 20268-K Entered a material agreement; Unregistered sale of shares; Regulation FD disclosure42
  5. Jun 5, 20268-K Other events43
  6. May 29, 20268-K Executive or director change; Shareholder vote44
  7. May 15, 20268-K Executive or director change45
  8. May 14, 20268-K Results of operations46
  9. Feb 24, 20268-K Other events47
  10. Feb 13, 20268-K Results of operations48
  11. Dec 12, 20258-K Results of operations49
  12. Dec 12, 20258-K Other events50
  13. Jun 11, 2019New chief executive Pardeep Nijhawan becomes CEO14
  14. Sep 26, 2014New chief executive Frank R. Oakes becomes CEO15

Calendar

Coming up

  1. Dec 11, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($0.32) a share, on Dec 12, 2025.51

When it reported results

  1. Aug 13, 2026Reported quarterly or annual results41
  2. May 14, 2026Reported quarterly or annual results46
  3. Feb 13, 2026Reported quarterly or annual results48
  4. Dec 12, 2025Reported quarterly or annual results49
  5. Aug 8, 2025Reported quarterly or annual results52
  6. May 14, 2025Reported quarterly or annual results53
  7. Feb 14, 2025Reported quarterly or annual results54
  8. Dec 13, 2024Reported quarterly or annual results55

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

Filings

286 filings to the SEC since October 2021: 7 annual reports, 15 quarterly reports, 55 major events, 122 insider forms, 29 large holders, 3 private raises, 55 other. The latest 20:

  1. Oct 15, 20268-K EDGAR
  2. Oct 6, 20264 EDGAR
  3. Sep 1, 20264 EDGAR
  4. Aug 26, 2026SCHEDULE 13G EDGAR
  5. Aug 25, 2026SCHEDULE 13D/A EDGAR
  6. Aug 25, 2026SCHEDULE 13D/A EDGAR
  7. Aug 20, 20268-K EDGAR
  8. Aug 20, 2026424B5 EDGAR
  9. Aug 19, 2026424B5 EDGAR
  10. Aug 13, 202610-Q EDGAR
  11. Aug 13, 20268-K EDGAR
  12. Aug 4, 20264 EDGAR
  13. Jul 13, 2026EFFECT EDGAR
  14. Jul 13, 2026424B3 EDGAR
  15. Jul 2, 20264 EDGAR
  16. Jul 2, 2026S-3 EDGAR
  17. Jun 26, 2026D EDGAR
  18. Jun 18, 2026SCHEDULE 13G EDGAR
  19. Jun 16, 2026SCHEDULE 13D/A EDGAR
  20. Jun 16, 20264 EDGAR

The 286 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: 26 buys and 2 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Mar 10, 2026Nijhawan PardeepChief Executive OfficerBuy1,000$6.60$6.6KForm 4
Mar 5, 2026Nijhawan PardeepChief Executive OfficerBuy10,000$3.90$39.0KForm 4
Mar 4, 2026Nijhawan PardeepChief Executive OfficerBuy10,000$4.26$42.6KForm 4
Mar 3, 2026Nijhawan PardeepChief Executive OfficerBuy10,000$3.63$36.3KForm 4
Mar 2, 2026Nijhawan PardeepChief Executive OfficerBuy3,000$2.09$6.3KForm 4
Feb 27, 2026Nijhawan PardeepChief Executive OfficerBuy30,000$2.22$66.6KForm 4
Feb 26, 2026Brooks Michael JPresidentBuy2,000$1.57$3.1KForm 4
Feb 26, 2026Nijhawan PardeepChief Executive OfficerBuy20,571$1.58$32.5KForm 4
Mar 25, 2024Nijhawan PardeepChief Executive OfficerBuy5,000$4.00$20.0KForm 4
Jan 10, 2023van der Velden Peter10% ownerSale152,345$2.63$400.7KForm 4
Jan 9, 2023van der Velden Peter10% ownerSale145,129$2.66$386.0KForm 4
Jun 30, 2022Pardeep Nijhawan Medicine Professional Corp10% ownerBuy20,000$1.60$32.0KForm 4
Jun 29, 2022Brooks Michael JPresidentBuy3,000$1.49$4.5KForm 4
Jun 16, 2022Brooks Michael JPresidentBuy3,000$1.61$4.8KForm 4
May 27, 2022Nijhawan PardeepChief Executive OfficerBuy5,000$1.92$9.6KForm 4
May 25, 2022Brooks Michael JPresidentBuy3,500$1.74$6.1KForm 4
May 24, 2022Nijhawan PardeepChief Executive OfficerBuy2,000$1.80$3.6KForm 4
Mar 31, 2022Pardeep Nijhawan Medicine Professional Corp10% ownerBuy2,000$2.99$6.0KForm 4
Mar 30, 2022Nijhawan PardeepChief Executive OfficerBuy2,000$3.05$6.1KForm 4
Mar 29, 2022Nijhawan PardeepChief Executive OfficerBuy2,000$3.02$6.0KForm 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
2025Pardeep NijhawanMD55$357.7K$1.0M68
2025Michael BrooksPhD$335.3K$861.9K68
2025Stephen LemieuxCPA$192.5K$422.9K68
2025Peter Weiler57$125.0K$264.7K68
2024DirectorChief Executive Officer and Corporate Secretary$357.7K$464.7K68
2024President$335.3K$429.0K68
2024Former Chief Financial Of icer$330.0K$368.1K68

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$18.5M 2025–2026
Money received by yearMoney received by year, 2025–2026: $18.5M in all. Private raises (Form D) $18.5M.$0$5M$10M$15M2025 · Private raises (Form D): $15.0M20252026 · Private raises (Form D): $3.5M2026
Figures by year
YearPrivate raises (Form D)Total
2026$3.5M$3.5M
2025$15.0M$15.0M

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

  1. Jun 16, 2026Raised $3.5 million in a private offering of equity38 Form D: $3.5 million offered in all Form D
  2. Feb 12, 2025Raised $15 million in a private offering of equity69 Form D: 15 investors so far Form D
  3. Mar 21, 2022Filed a private offering of securities70 Form D: 1 investor so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 33. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Velan Capital Investment Management LP827,500$6.7M4.1%No change
Rubric Capital Management LP669,500$5.4M0.0%−18,000
Perceptive Advisors LLC563,239$4.6M0.1%No change
Millennium Management LLC561,751$4.6M0.0%New
Stonepine Capital Management, LLC456,439$3.2M2.4%+426,439
Boxer Capital Management, LLC205,000$1.7M0.1%New
Vanguard Capital Management LLC81,839$665.4K0.0%−4,127
Geode Capital Management, LLC80,879$657.6K0.0%+3,825
Jane Street Group, LLC72,465$589.1K0.0%−43,256
Vanguard Fiduciary Trust Co38,718$314.8K0.0%+272
State Street Corp37,979$308.8K0.0%No change
XTX Topco Ltd35,352$287.4K0.0%New
BlackRock, Inc.27,495$223.5K0.0%−214
Northern Trust Corp14,994$121.9K0.0%No change
Scotia Capital Inc.14,393$117.0K0.0%−1,450
Two Sigma Investments, LP14,032$114.1K0.0%New
UBS Group AG6,763$55.0K0.0%+4,420
SBI Securities Co., Ltd.3,505$28.5K0.0%+3
Federation des caisses Desjardins du Quebec2,595$21.1K0.0%New
Royal Bank Of Canada1,851$15.0K0.0%+192
Mcguire Capital Advisors Inc1,500$12.2K0.0%No change
Morgan Stanley1,400$11.4K0.0%New
Tower Research Capital LLC (TRC)1,230$10.0K0.0%+723
Bnp Paribas Financial Markets1,122$9.1K0.0%New
Jpmorgan Chase & Co1,130$8.7K0.0%New

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

SEC filer profile

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

  • Name on EDGAREdesa Biotech, Inc.1
  • CIK0001540159
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company4
  • Incorporated inCanada4
  • Fiscal year endsSeptember 301
  • Industry code (SIC)2834 Pharmaceutical Preparations1
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance1
  • Business addressC/O Fasken Martineau Dumoulin Llp, 333 Bay Street, Suite 2400, Toronto, M5H 2T6, Ontario, Canada1
  • Phone(905) 475-12341
  • Shares outstanding9,641,031 as of Aug 13, 202611
  • Public float$14.0M as of Mar 31, 20254
  • AuditorMNP LLP, Toronto Canada PCAOB ID 1930; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceFeb 3, 20121
  • Filings747 in all: 4 (217), 8-K (141), 6-K (88), 10-Q (36), 3 (27), 424B5 (16), UPLOAD (15), EFFECT (14)1
    All 48 form types

    4/A (13), SC 13D/A (13), CORRESP (12), DEF 14A (12), 10-K (11), SC 13G/A (10), SC 13G (9), D (8), S-3 (8), SC 13D (8), SCHEDULE 13G (8), DEFA14A (7), S-8 (7), 424B3 (6), SCHEDULE 13D/A (6), SCHEDULE 13G/A (6), 8-K/A (5), ARS (5), 10-K/A (4), S-1 (4), 20FR12G/A (3), 424B4 (3), CT ORDER (3), 20-F (2), 3/A (2), FWP (2), POS AM (2), PRE 14A (2), 10-KT (1), 20FR12G (1), 6-K/A (1), 8-A12B (1), CERTNAS (1), D/A (1), DEF 14C (1), DEFM14A (1), NT 20-F (1), PREM14A (1), S-1/A (1), SCHEDULE 13D (1)

  • Latest filingsAnnual report (10-K) Dec 12, 2025
    Quarterly report (10-Q) Aug 13, 2026
    Proxy statement (DEF 14A) Apr 3, 2026
    Latest 8-K (8-K) Oct 15, 2026

Securities registered for trading

ClassSymbolExchange
Common Shares, without par valueEDSANASDAQ

From the cover page of the 10-K filed Dec 12, 2025 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks Edesa Biotech, Inc. names in Item 1A of its 10-K filed Dec 12, 2025: 57 risks under these headings, as written.4

  • Risks Related to Our Business, Financial Position and Capital Requirements
  • We are a late-stage biopharmaceutical company with no products approved for commercial sale, and we have incurred significant losses since our inception and expect to continue to incur losses and may never generate profits from operations or maintain profitability.
  • Our recurring losses from operations have raised substantial doubt regarding our ability to continue as a going concern.
  • We will need substantial additional funding to finance our operations through regulatory approval of one or more of our product candidates. If we are unable to raise capital when needed, we could be forced to delay, reduce or eliminate our product development programs, commercialization efforts or other operations.
  • Raising additional capital may cause dilution to our investors, restrict our operations or require us to relinquish rights to our technologies or product candidates.
  • Changes in the U.S. political and regulatory environment could affect availability of government funding that we or our third party collaborators may rely on, which could negatively impact the development of our product candidates.
  • We partially rely on government grants to contribute to our EB05 (paridiprubart) development program. If we are unable to satisfy our contractual obligations and manage our covenants or meet expected milestones, the development of EB05 may be extended, delayed, modified, or terminated and we may be required to repay all or part of the grant earlier than expected.
  • We depend heavily on the success of our drug product candidates. If we are unable to obtain regulatory approval or commercialize one or more of these experimental treatments, or experience significant delays in doing so, our business will be materially harmed. We cannot give any assurance that we will receive regulatory approval for such product candidates or any other product candidates, which is necessary before they can be commercialized.
  • Deterioration in general economic conditions in the U.S., Canada and globally, including the effect of prolonged periods of inflation on our suppliers, third-party service providers and potential partners, could harm our business and results of operations.
  • International trade policies, including tariffs, sanctions and trade barriers may adversely affect our current and future business, financial condition, results of operations and prospects.
  • Our limited operating history may make it difficult for you to evaluate the success of our business to date and to assess our future viability.
  • We are exposed to risks related to currency exchange rates.
The other 46 risks
  • Our operations are subject to anti-corruption laws, including the U.S. Foreign Corrupt Practices Act (“FCPA”), and other anti- corruption laws that apply in countries where we do business and may do business in the future. We are also subject to other laws and regulations governing our international operations, including regulations administered by the government of the
  • 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.
  • Our employees, principal investigators, consultants and commercial partners may engage in misconduct or other improper activities, including noncompliance with regulatory standards and requirements and insider trading, which could cause significant liability for us and harm our reputation.
  • We expect to expand our capabilities, and as a result, we may encounter difficulties in managing our growth, which could disrupt our operations.
  • Our future success depends on our ability to retain key executives and to attract, retain and motivate qualified personnel.
  • We rely significantly on information technology and any failure, inadequacy, interruption or security lapse of that technology, including any cybersecurity incidents, could harm our ability to operate our business effectively.
  • Risks Related to Clinical Development, Regulatory Approval and Commercialization
  • If clinical trials of our product candidates fail to demonstrate safety and efficacy to the satisfaction of the FDA, Health Canada (“HC”) or the European Medicines Agency (“EMA”), or do not otherwise produce favorable results, we may incur additional costs or experience delays in completing, or ultimately be unable to complete, the development and commercialization our product candidates.
  • Interim results, top-line, initial data may not accurately reflect the complete results of a particular study or trial.
  • Any product candidate we advance into and through clinical trials may cause unacceptable adverse events or have other properties that may delay or prevent their regulatory approval or commercialization or limit their commercial potential.
  • If clinical trials for our product candidates are prolonged or delayed, we may incur additional costs, and may not be able to commercialize our product candidates on a timely basis or at all.
  • The clinical trial designs, endpoints and outcomes that will be required to obtain marketing approval for our drug candidates are uncertain. We may never receive marketing approval for our drug candidates.
  • If the commercial opportunity in vitiligo, chronic ACD, ARDS, or pulmonary fibrosis is smaller than we anticipate, our future revenue from our drug candidates will be adversely affected and our business will suffer.
  • While we have chosen to test our product candidates in specific clinical indications based in part on our understanding of their mechanisms of action, our understanding may be incorrect or incomplete and, therefore, our product candidates may not be effective against the diseases tested in our clinical trials.
  • A successful sPLA2, anti-TLR4 or anti-CXCL10 drug has not been developed to date and we can provide no assurances that we will be successful or that there will be no adverse side effects.
  • Even if one of our product candidates 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.
  • If we are unable to establish sales and marketing capabilities or enter into agreements with third parties to market and any of our other current or future product candidates, we may not be successful in commercializing the applicable product candidate if it receives marketing approval.
  • We face substantial competition, which may result in others discovering, developing or commercializing products to treat our target indications or markets before or more successfully than we do.
  • Even if we are able to commercialize one of our product candidates, the product may become subject to unfavorable pricing regulations, third-party reimbursement practices or healthcare reform initiatives, which would harm our business.
  • Product liability lawsuits against us could cause us to incur substantial liabilities and limit commercialization of any products that we may develop.
  • We will be dependent on third parties for manufacturing, including optimization, technology transfers and scaling up of clinical scale quantities of all of our product candidates.
  • The manufacturing of our monoclonal antibody candidates is complex and subject to a multitude of risks. These manufacturing risks could substantially increase our costs and limit supply of these drug candidates for clinical development, and commercialization.
  • We rely on third parties to conduct our clinical trials and those third parties may not perform satisfactorily, including failing to meet deadlines for the completion of such clinical trials.
  • If we are not able to establish or maintain additional partnerships or collaborations, we may have to alter our development and commercialization plans.
  • Even if we complete the necessary clinical trials, the marketing approval process is expensive, time consuming and uncertain. If we are not able to obtain, or if there are delays in obtaining, required marketing approvals, we will not be able to commercialize our product candidates, and our ability to generate revenue will be materially impaired.
  • Even if we obtain marketing approval for our product candidates, the terms of approvals and ongoing regulation of our products may limit how we manufacture and market our products, and compliance with such requirements may involve substantial resources, which could materially impair our ability to generate revenue.
  • We may not be able to obtain or maintain orphan drug designation or exclusivity for our product candidates.
  • Increasing use of social media platforms could give rise to liability, breaches of data security and privacy laws, or reputational damage.
  • Risks Related to Our Intellectual Property
  • We are dependent on license relationships with third parties for our key drug development programs.
  • If we are unable to obtain and maintain patent protection for our licensed technology and products, or if the scope of the patent protection is not sufficiently broad, our competitors could develop and commercialize technology and products similar or identical to ours, and our ability to successfully commercialize our licensed technology and products may be adversely affected.
  • We may become involved in lawsuits or other enforcement proceedings to protect or enforce our patents or other intellectual property, which could be expensive, time consuming and potentially unsuccessful.
  • Third parties may initiate legal proceedings alleging that we are infringing 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 could cause us to spend substantial resources and could distract our personnel from their normal responsibilities.
  • If we are unable to protect the confidentiality of our trade secrets, our business and competitive position would be harmed.
  • Risks Related to Owning Our Securities
  • The price of our common shares may continue to be volatile.
  • Our common shares are listed on The Nasdaq Capital Market. We must satisfy the continued listing requirements of Nasdaq, to maintain the listing of our common shares on The Nasdaq Capital Market.
  • We do not currently intend to pay dividends on our common shares in the foreseeable future, and consequently, any gains from an investment in our common shares will likely depend on appreciation in the price of our common shares.
  • A sale of a substantial number of our common shares in the public market could cause the market price of our common shares to drop significantly, even if our business is doing well.
  • If equity research analysts do not publish research or reports about our business or if they issue unfavorable commentary or downgrade our common shares, the price of our common shares could decline.
  • Our directors, executive officers and certain other holders of our securities have control over us and could delay or prevent a change of corporate control.
  • Our Articles allow for our board of directors to create new series of preferred shares without further approval by the shareholders, which could adversely affect the rights of the holders of our common shares.
  • Our common shares rank junior to our preferred shares in the event of a liquidation, dissolution or winding-up of the Company.
  • Any issuance of our common shares upon conversion of our preferred shares will cause dilution to our then existing stockholders and may depress the market price of our common shares.
  • We may incur future indebtedness that will rank senior to our preferred shares or issue additional series of preferred shares that rank on a parity with, or senior to, the preferred shares as to dividend payments and liquidation preference.
  • Failure to maintain effective internal control over financial reporting could have a material adverse effect on our share price.
  • The ownership of our common shares is highly concentrated, which may prevent you and other shareholders from influencing significant corporate decisions and may result in conflicts of interest that could cause our common shares price to decline.
  • We may be deemed a passive foreign investment company, and as a result, U.S. shareholders may be subject to special taxation rules that restrict capital gains treatment, unless the shareholders make a timely tax election to treat the company as a qualified electing fund.

Legal proceedings

From time to time, we may be involved in legal proceedings, claims and litigation arising in the ordinary course of business, including contract disputes, employment matters and intellectual property disputes. We are not currently a party to any material legal proceedings or claims outside the ordinary course of business. Regardless of 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.4

Sources

The numbers on this page point here. Each one links to the record it came from.

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