IMRX on Nasdaq

Immuneering Corp

In its 2026 annual report the company says: “We are a late-stage clinical oncology company focused on keeping cancer patients alive and helping them thrive. Our novel approach is designed to improve durability and tolerability, and differentiates us from chronically targeted precision therapies, which are generally limited by toxicity, resistance and/or application to specific mutations only.”4 It is headquartered in Cambridge, Massachusetts.1 Its shares trade on Nasdaq under the symbol IMRX.1

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Last updated Oct 21, 2026.

Overview

-$56.0MNet income, fiscal 20252

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  • TickerIMRX on Nasdaq1
  • IndustryPharmaceutical Preparations1
  • HeadquartersCambridge, Massachusetts1
  • Incorporated inDE3
  • Business address245 Main Street, Second Floor, Cambridge, Ma 021423
  • Filer categoryNon-accelerated filer, Smaller reporting company, Emerging growth company3
  • Legal formCorporation

We are a late-stage clinical oncology company focused on keeping cancer patients alive and helping them thrive . We are developing and seeking to commercialize an entirely new category of anti-cancer medicines, Deep Cyclic Inhibitors, which we believe have the potential to be more effective and better tolerated targeted therapies.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 2023

-100.0%Revenue growth, 20235
-59.0%Return on equity2
-$49.3MFree cash flow6

Financial statements

Revenue785$0 in 2023
0$1.0M$2.0M$3.0M2020: $2.3M$2.3M20202021: $2.1M$2.1M2021−10%2022: $317.0K$317.0K2022−85%2023: $0$02023
Gross profit785$0 in 2023
0$500.0K$1.0M$1.5M2020: $1.0M$1.0M20202021: $926.9K$926.9K2021−10%2022: $158.8K$158.8K2022−83%2023: $0$02023
Operating income7856-$58.4M in 2023+242% since 2020
-$60.0M-$40.0M-$20.0M02020: -$17.1M-$17.1M20202021: -$33.9M-$33.9M2021+98%2022: -$51.7M-$51.7M2022+53%2023: -$58.4M-$58.4M2023+13%
Net income7856-$53.5M in 2023+214% since 2020
-$60.0M-$40.0M-$20.0M02020: -$17.0M-$17.0M20202021: -$33.5M-$33.5M2021+97%2022: -$50.5M-$50.5M2022+51%2023: -$53.5M-$53.5M2023+6%

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$42.0M$48.0M
General and administrative$17.3M$16.1M
Amortization of intangible asset$29.3K$29.3K
Total operating expenses$59.4M$64.1M
Loss from operations-$59.4M-$64.1M
Interest income$3.0M$2.6M
Other income, net$311.7K$441.5K
Net loss-$56.0M-$61.0M
Net loss per share attributable to common stockholders, basic (in dollars per share)-$1.27-$2.04
Net loss per share attributable to common stockholders, diluted (in dollars per share)-$1.27-$2.04
Weighted-average common shares outstanding, basic (in shares)44.0M shares30.0M shares
Weighted-average common shares outstanding, diluted (in shares)44.0M shares30.0M shares
Unrealized gain from marketable securities$81.3K$778
Comprehensive Loss-$55.9M-$61.0M

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Corporate structure

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

Major holders of Immuneering Corp

  • Immuneering Corp Cambridge, Massachusetts

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

What it owns

What Immuneering Corp reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$2.3M2 Dec 31, 2025$2.2M2 Dec 31, 2024+6.2%
Accumulated depreciation$1.4M2 Dec 31, 2025$1.1M2 Dec 31, 2024+29.7%
Property and equipment, net$938.5K2 Dec 31, 2025$1.1M2 Dec 31, 2024−16.4%
Operating-lease assets (leased space)$3.3M2 Dec 31, 2025$3.7M2 Dec 31, 2024−9.4%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$128.6M2 Dec 31, 2025$36.1M2 Dec 31, 2024+255.9%
Marketable securities, current$06 Dec 31, 2024$26.3M6 Dec 31, 2023−100.0%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$6.7M2 Dec 31, 2025$6.7M2 Dec 31, 20240%
Finite-lived intangibles, net$321.1K2 Dec 31, 2025$350.4K2 Dec 31, 2024−8.4%

Properties, in its own words

Our principal office is located at 245 Main Street, Second Floor, Cambridge, Massachusetts 02142, where we lease approximately 100 square feet of office space under a service agreement that we last renewed to have a lease term commencing on December 1, 2025 and ending on November 30, 2026.

We also lease a property in San Diego, California, with approximately 38,613 square feet of office and laboratory space under a lease that terminates on April 30, 2032.

The rest of Item 2

Additionally, we lease approximately 150 square feet of office space in New York, New York under a service agreement that currently runs through September 30, 2026.

We believe that our facilities are sufficient to meet our current needs and that suitable additional space will be available as and when needed.

Item 2 of the 10-K filed Mar 6, 2026.4

Leadership

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

Board members and other officers (13)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • DirectorLaurie B. Keating named Sep 9, 202528

Timeline

  1. Aug 5, 20268-K Results of operations29
  2. Jun 15, 20268-K Executive or director change30
  3. Jun 11, 20268-K Shareholder vote31
  4. Jun 1, 20268-K Other events32
  5. May 15, 20268-K Results of operations33
  6. Mar 6, 20268-K Results of operations34
  7. Jan 7, 20268-K Other events35
  8. Nov 12, 20258-K Results of operations36
  9. Sep 25, 20258-K Entered a material agreement; Other events37
  10. Sep 24, 20258-K Entered a material agreement; Unregistered sale of shares; Other events38
  11. Aug 25, 20258-K Entered a material agreement; Unregistered sale of shares; Other events39
  12. Aug 13, 20258-K Results of operations40
  13. Jul 29, 2021New chief executive Benjamin J. Zeskind becomes CEO13

Calendar

Coming up

  1. Nov 11, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($0.38) a share, on Nov 12, 2025.41

When it reported results

  1. Aug 5, 2026Reported quarterly or annual results29
  2. May 15, 2026Reported quarterly or annual results33
  3. Mar 6, 2026Reported quarterly or annual results34
  4. Nov 12, 2025Reported quarterly or annual results36
  5. Aug 13, 2025Reported quarterly or annual results40
  6. May 5, 2025Reported quarterly or annual results42
  7. Mar 20, 2025Reported quarterly or annual results43
  8. Nov 13, 2024Reported quarterly or annual results44

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

Filings

265 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 46 major events, 137 insider forms, 28 large holders, 1 private raises, 33 other. The latest 20:

  1. Aug 5, 202610-Q EDGAR
  2. Aug 5, 20268-K EDGAR
  3. Jul 28, 2026SCHEDULE 13G EDGAR
  4. Jul 17, 20264 EDGAR
  5. Jul 16, 20263 EDGAR
  6. Jun 24, 20264 EDGAR
  7. Jun 16, 20264 EDGAR
  8. Jun 15, 20268-K EDGAR
  9. Jun 11, 20264 EDGAR
  10. Jun 11, 20264 EDGAR
  11. Jun 11, 20264 EDGAR
  12. Jun 11, 20264 EDGAR
  13. Jun 11, 20264 EDGAR
  14. Jun 11, 20268-K EDGAR
  15. Jun 1, 20268-K EDGAR
  16. May 15, 202610-Q EDGAR
  17. May 15, 20268-K EDGAR
  18. Apr 20, 2026DEFA14A EDGAR
  19. Apr 20, 2026DEF 14A EDGAR
  20. Mar 17, 20264 EDGAR

The 265 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

47 open-market trades by officers, directors and large owners since October 2021: 44 buys and 3 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jun 23, 2026Zeskind Benjamin J.PRESIDENT AND CEOBuy2,400$4.56$10.9KForm 4
Jun 15, 2026Hall Brett MatthewCHIEF SCIENTIFIC OFFICERBuy6,035$4.15$25.0KForm 4
Jan 16, 2026Brakewood Harold EugeneChief Business OfficerBuy5,250$4.76$25.0KForm 4
Jan 15, 2026Schall Thomas J.DirectorBuy21,645$4.67$101.1KForm 4
Jan 15, 2026Hall Brett MatthewCHIEF SCIENTIFIC OFFICERBuy2,298$4.57$10.5KForm 4
Jan 13, 2026Neufeld Leah RCHIEF PEOPLE OFFICERBuy2,626$4.15$10.9KForm 4
Jan 12, 2026Feinberg PeterDirectorBuy20,000$4.35$87.0KForm 4
Oct 3, 2025Feinberg PeterDirectorBuy7,500$6.67$50.0KForm 4
Oct 1, 2025Morales MallorySVP Finance, CAOBuy300$6.39$1.9KForm 4
Oct 1, 2025Neufeld Leah RCHIEF PEOPLE OFFICERBuy800$6.38$5.1KForm 4
Oct 1, 2025Bookman MichaelCHIEF LEGAL OFFICER, SECRETARYBuy1,020$6.83$7.0KForm 4
Sep 30, 2025Feinberg PeterDirectorBuy7,500$7.03$52.7KForm 4
Sep 29, 2025Feinberg PeterDirectorBuy5,000$7.18$35.9KForm 4
Jul 2, 2025HAUSMAN DIANADirectorBuy5,500$3.61$19.9KForm 4
Jul 2, 2025Neufeld Leah RCHIEF PEOPLE OFFICERBuy700$3.57$2.5KForm 4
Jul 2, 2025Zeskind Benjamin J.PRESIDENT AND CEOBuy7,015$3.53$24.8KForm 4
Jul 1, 2025Zeskind Benjamin J.PRESIDENT AND CEOBuy2,985$3.38$10.1KForm 4
Jun 27, 2025Schall Thomas J.DirectorBuy9,500$3.66$34.8KForm 4
Jun 23, 2025Hall Brett MatthewCHIEF SCIENTIFIC OFFICERBuy6,007$2.43$14.6KForm 4
Jun 20, 2025Hall Brett MatthewCHIEF SCIENTIFIC OFFICERBuy7,415$2.70$20.0KForm 4

All 47 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
2025Benjamin J. ZeskindPh.D.$641.5K$1.7M54
2025Brett HallPh.D.$733.5K$1.3M54
2025Michael D. Bookman39$502.1K$890.4K54
2024President and Chief Executive Officer$616.8K$1.9M54
2024Chief Scientific Officer$705.3K$1.4M54
2024Chief Legal Officer$482.8K$1.1M54

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Aug 26, 2025Raised $25 million in a private offering of equity Form D: 9 investors 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 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Fmr LLC9,704,610$48.4M0.0%+6,672
BlackRock, Inc.4,374,020$21.8M0.0%+2,866,762
Sanofi2,708,559$13.5M2.5%No change
Vanguard Capital Management LLC2,286,434$11.4M0.0%−1,907
Geode Capital Management, LLC1,370,750$6.8M0.0%+732,806
State Street Corp1,001,995$5.0M0.0%+733,475
DCF Advisers, LLC790,000$3.9M1.0%+648,538
Marshall Wace, Llp731,897$3.7M0.0%−1,264,688
Connor, Clark & Lunn Investment Management Ltd.601,255$3.0M0.0%+200,892
Alethea Capital Management, LLC472,935$2.4M1.0%+450,000
Summit Financial, LLC452,264$2.3M0.0%+75,515
UBS Group AG448,857$2.2M0.0%+72,573
Nuveen, LLC438,362$2.2M0.0%New
Northern Trust Corp436,992$2.2M0.0%+319,326
Levin Capital Strategies, L.P.414,000$2.1M0.1%+404,000
Citadel Advisors LLC386,411$1.9M0.0%−60,867
Vanguard Fiduciary Trust Co360,764$1.8M0.0%+38,726
Vanguard Portfolio Management LLC359,085$1.8M0.0%New
Millennium Management LLC330,402$1.6M0.0%−772,310
Burkehill Global Management, LP300,000$1.5M0.1%No change
Two Sigma Investments, LP288,420$1.4M0.0%+43,649
Morgan Stanley226,491$1.1M0.0%−69,576
Occam Crest Management LP278,498$1.1M0.6%−266,600
D. E. Shaw & Co., Inc.203,663$1.0M0.0%New
Charles Schwab Investment Management Inc167,901$837.8K0.0%+130,557

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

SEC filer profile

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

  • Name on EDGARImmuneering Corp1
  • CIK0001790340
  • Employer ID (EIN)26-19769724
  • 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 address245 Main Street, Second Floor, Cambridge, MA 021421
  • Phone617-500-80801
  • Shares outstanding64,652,926 Common Class A shares; 0 Common Class B shares as of Mar 3, 20264
  • Public float$101.1M as of Jun 30, 20254
  • AuditorRSM US LLP, Boston, Massachusetts PCAOB ID 49; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceOct 4, 20191
  • Filings320 in all: 4 (143), 8-K (45), 3 (18), SC 13G/A (18), 10-Q (16), CORRESP (8), SC 13G (7), 424B5 (6)1
    All 34 form types

    UPLOAD (6), 10-K (5), DEF 14A (5), DEFA14A (5), EFFECT (4), SCHEDULE 13G (4), D (3), S-3 (3), SCHEDULE 13G/A (3), 8-K/A (2), FWP (2), S-1/A (2), S-8 (2), 144 (1), 3/A (1), 424B3 (1), 424B4 (1), 5 (1), 8-A12B (1), CERT (1), D/A (1), DRS (1), DRS/A (1), DRSLTR (1), S-1 (1), S-1MEF (1)

  • Latest filingsAnnual report (10-K) Mar 6, 2026
    Quarterly report (10-Q) Aug 5, 2026
    Proxy statement (DEF 14A) Apr 20, 2026
    Latest 8-K (8-K) Aug 5, 2026

Securities registered for trading

ClassSymbolExchange
Class A common Stock, par value $0.001 per shareIMRXThe Nasdaq Global Market

From the cover page of the 10-K filed Mar 6, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks Immuneering Corp names in Item 1A of its 10-K filed Mar 6, 2026: 72 risks under these headings, as written.4

  • Risks Related to Our Financial Condition and Capital Requirements
  • We are a late-stage clinical oncology company with a limited operating history in developing pharmaceutical products, have not completed any registrational clinical trials and have no products approved for commercial sale, which may make it difficult for you to evaluate our current business and predict our future success and viability.
  • We have incurred significant net losses for the past several years and we expect to continue to incur significant net losses for the foreseeable future and may never obtain profitability.
  • We will require substantial additional capital to finance our operations. If we are unable to raise such capital when needed, or on acceptable terms, we may be forced to delay, reduce and/or eliminate one or more of our research and drug development programs or future commercialization efforts.
  • Raising additional capital may cause dilution to our existing stockholders, restrict our operations or require us to relinquish rights to our product candidates on unfavorable terms to us.
  • Our ability to use our net operating losses and other tax attributes may be limited.
  • Risks Related to Development, Regulatory Approval and Commercialization
  • The regulatory approval processes of the FDA and other comparable foreign regulatory authorities are lengthy, time consuming and inherently unpredictable with respect to outcomes. If we are ultimately unable to obtain regulatory approval for our product candidates, or to obtain regulatory approval to treat the indications we seek to treat with our product candidates, we will be unable to generate product revenue or the level of planned product revenue and our business will be substantially harmed.
  • We may not be able to submit additional INDs or IND amendments or comparable documents in foreign jurisdictions to commence additional clinical trials on the timelines we expect, and even if we are able to, the FDA may not permit us to proceed.
  • We have limited experience in designing clinical trials and may experience delays or unexpected difficulties in obtaining regulatory approval for our current and future product candidates.
  • We may encounter substantial delays in completing, or ultimately be unable to complete, the development and commercialization of our product candidates.
  • The outcome of preclinical studies and earlier clinical trials may not be predictive of the success of later clinical trials, and the results of our clinical trials may not satisfy the requirements of the FDA or other comparable foreign regulatory authorities.
The other 62 risks
  • Interim, “top-line” and preliminary 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 that could result in material changes in the final data.
  • Our current or future product candidates may cause adverse events, toxicities or other undesirable side effects when used alone or in combination with other approved products or investigational new drugs that may result in a safety profile that could inhibit regulatory approval, prevent market acceptance, limit their commercial potential or result in significant negative consequences.
  • If we experience delays or difficulties in the enrollment and/or maintenance of patients in clinical trials, our clinical development activities could be delayed or otherwise adversely affected.
  • Even if approved, our product candidates may not achieve adequate market acceptance among physicians, patients, healthcare payors and others in the medical community necessary for commercial success.
  • We may be unable to obtain U.S. or foreign regulatory approvals and, as a result, may be unable to commercialize our product candidates.
  • Our approach to the discovery and development of product candidates is unproven, and we may not be successful in our efforts to use and expand our DCT platform and capabilities to build a pipeline of product candidates with commercial value.
  • We intend to develop certain of our current product candidates in combination with other therapies, and may develop our future product candidates in combination with other therapies, which exposes us to additional risks.
  • 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.
  • Third parties with product candidates or products targeting the MAPK pathway may produce negative preclinical or clinical data which may adversely affect public perception of our product candidates, and may negatively impact regulatory approval of, or demand for, our potential products.
  • Risks Related to Our Business
  • We are early in our development efforts. Our business is substantially dependent on the successful development of our current and future product candidates. If we are unable to advance our current or future product candidates through clinical trials, obtain marketing approval to treat the indications that we seek to treat with our product candidates, and ultimately commercialize any product candidates we develop, or experience significant delays in doing so, our business will be materially harmed.
  • We are substantially dependent on our platform, including our proprietary technologies, which are supported by our information technology systems. Any failure of these or other elements of our platform will materially harm our business.
  • Our long-term prospects depend in part upon discovering, developing and commercializing product candidates, which may fail in development or suffer delays that adversely affect their commercial viability.
  • We have never commercialized a product candidate before and may lack the necessary expertise, personnel and resources to successfully commercialize any products on our own or together with suitable collaborators.
  • We face significant competition, and if our competitors develop and market technologies or products more rapidly than we do or that are more effective, safer or less expensive than the product candidates we develop, our commercial opportunities will be negatively impacted.
  • If the market opportunity for any product candidate that we develop is smaller than we believe, our revenue may be adversely affected and our business may suffer.
  • 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 product candidate.
  • Unfavorable global and regional economic, political and health conditions could adversely affect our business, financial condition or results of operations.
  • Ongoing and potential future pandemics could adversely impact our business, including our current and future clinical trials, supply chain and business development activities.
  • Risks Relating to Our Dependence on Third Parties
  • We substantially rely, and expect to continue to rely, on third parties, including independent clinical investigators and CROs, to conduct certain aspects of our preclinical studies and our clinical trials. If these third parties do not successfully carry out their contractual duties, comply with applicable regulatory requirements or meet expected deadlines, we may not be able to obtain regulatory approval for or commercialize our product candidates and our business could be substantially harmed.
  • We rely on, and in the future may rely on, third-party datasets and collaborations with third parties to inform patient selection, drug target identification and other bioinformatic and computational biology analyses for our existing product candidates and any future product candidates and for the supply of biomarker companion diagnostics.
  • If we decide to establish new collaborations in the future, but are not able to establish those collaborations on a timely basis, on commercially reasonable terms, or at all, we may have to alter our development and commercialization plans.
  • We may enter into collaborations in the future with third parties for the development and commercialization of product candidates. If those collaborations are not successful, we may not be able to capitalize on the market potential of these product candidates.
  • Our employees, independent contractors, consultants, commercial collaborators, principal investigators, CROs, suppliers and vendors may engage in misconduct or other improper activities, including noncompliance with regulatory standards and requirements.
  • Risks Related to Manufacturing
  • The manufacture of drugs is complex and our third-party manufacturers may encounter difficulties in production. If any of our third-party manufacturers encounter such difficulties, our ability to provide adequate supply of our product candidates for clinical trials or our products for patients, if approved, could be delayed or prevented.
  • We contract with third parties, including contract manufacturing organizations and consultants, for the manufacture of our product candidates for preclinical studies and clinical trials, and expect to continue to do so for commercialization of any approved product candidate. This reliance on third parties increases the risk that we will not have sufficient quantities of our product candidates or drugs or be able to acquire such quantities at an acceptable cost, which could delay, prevent or impair our development or commercialization efforts.
  • Changes in methods of product candidate manufacturing or formulation may result in additional costs or delay.
  • Risks Related to Legal and Regulatory Compliance Matters
  • Our relationships with healthcare professionals, clinical investigators, CROs and third party payors in connection with our current and future business activities may be subject to international, federal and state healthcare fraud and abuse laws, false claims laws, transparency laws, and government price reporting, which could expose us to, among other things, criminal sanctions, civil penalties, contractual damages, exclusion from governmental healthcare programs, reputational harm, administrative burdens and diminished profits and future earnings.
  • Actual or perceived failures to comply with applicable data protection, privacy and security laws, regulations, standards and other requirements could adversely affect our business, results of operations, and financial condition.
  • Our business entails a significant risk of product liability and if we are unable to obtain sufficient insurance coverage such inability could have an adverse effect on our business and financial condition.
  • Any product candidates we develop may become subject to unfavorable third-party coverage and reimbursement practices, as well as pricing regulations.
  • 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 our business.
  • The FDA or other comparable foreign regulatory authorities may not accept data from trials conducted in locations outside of their jurisdiction.
  • Obtaining and maintaining regulatory approval of our product candidates in one jurisdiction does not mean that we will be successful in obtaining regulatory approval of our product candidates in other jurisdictions.
  • Even if our product candidates receive regulatory approval, they will be subject to significant post-marketing regulatory requirements and oversight.
  • The FDA and other regulatory agencies actively enforce the laws and regulations prohibiting the promotion of off-label uses.
  • Disruptions at the FDA, the SEC and other government agencies including those caused by funding shortages, mandated personnel reductions, policy changes 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.
  • A fast track designation from the FDA (or similar designation from a comparable foreign regulatory authority), even when granted for any of our product candidates, may not lead to a faster development or regulatory review or approval process, and does not increase the likelihood that our product candidates will receive regulatory approval.
  • We may face difficulties from changes to current regulations and future legislation.
  • We may be subject to the UK Bribery Act 2010 (the "Bribery Act"), the U.S. Foreign Corrupt Practices Act of 1977, as amended (the "FCPA"), and other anti-corruption laws, as well as export control laws, import and customs laws, trade and economic sanctions laws and other laws governing our operations.
  • We may be subject to various laws relating to foreign investment and the export of certain technologies, and our failure to comply with these laws or adequately monitor the compliance of our suppliers and others with which we do business with could subject us to substantial fines, penalties and injunctions, the imposition of which on us could have a material adverse effect on the success of our business.
  • Risks Related to Our Intellectual Property
  • If we are unable to obtain and maintain patent and/or other intellectual property protection for our product candidates and technologies or if the scope of the intellectual property protection obtained is not sufficiently broad, our competitors could develop and commercialize products and technology similar or identical to ours, and our ability to successfully develop and commercialize our product candidates, products (if any) and technology may be impaired, and we may not be able to compete effectively in our market.
  • If we fail to comply with our obligations in future agreements under which we may license intellectual property rights from licensors and third parties or otherwise experience disruptions to our business relationships with future licensors, we could lose license rights that may in the future be important to our business.
  • The patent protection and patent prosecution for some of our product candidates may be dependent on our future licensors and third parties.
  • Our commercial success depends significantly on our ability to operate without infringing the patents and other proprietary rights of third parties. Claims by third parties that we infringe or misappropriate their proprietary rights may result in liability for damages or prevent or delay our developmental and commercialization efforts.
  • We may be involved in lawsuits to protect or enforce our patents or the patents of our future licensors, which could be expensive, time-consuming and unsuccessful. Further, our future in-licensed issued patents could be found invalid or unenforceable if challenged in court.
  • Intellectual property litigation may lead to unfavorable publicity that harms our reputation and causes the market price of our common shares to decline.
  • Derivation or interference proceedings may be necessary to determine priority of inventions, and an unfavorable outcome may require us to cease using the related technology or to attempt to license rights from the prevailing party.
  • Patent reform legislation could increase the uncertainties and costs surrounding the prosecution of our patent applications and the enforcement or defense of our issued patents.
  • Changes in U.S. patent law, or laws in other countries, could diminish the value of patents in general, thereby impairing our ability to protect our product candidates.
  • We or our future licensors may be subject to claims challenging the inventorship or ownership of our or our future in-licensed patents and other intellectual property.
  • Patent terms may be inadequate to protect our competitive position on our product candidates for an adequate amount of time.
  • We may not be able to protect our intellectual property rights throughout the world.
  • Obtaining and maintaining our patent protection depends on compliance with various procedural, documentary, fee payment and other requirements imposed by regulations and governmental patent agencies, and our patent protection could be reduced or eliminated for non-compliance with these requirements.
  • If we are unable to protect the confidentiality of our trade secrets, our business and competitive position would be harmed.
  • We may be subject to claims that our employees, consultants or independent contractors have wrongfully used or disclosed confidential information or alleged trade secrets of third parties or competitors or are in breach of non-competition or non-solicitation agreements with our competitors or their former employers.
  • 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.
  • We use third-party open source software, which could negatively affect our ability to offer our solutions and subject us to litigation or other actions.
  • Intellectual property rights do not necessarily address all potential threats to our competitive advantage.
  • Risks Related to Employee Matters and Managing our Growth
  • If we are unable to establish sales or marketing capabilities or enter into agreements with third parties to sell or market our product candidates, we may not be able to successfully sell or market our product candidates that obtain regulatory approval.
  • Our success is highly dependent on our ability to attract and retain highly skilled executive officers and employees.
  • 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.
  • A variety of risks associated with operating internationally could materially adversely affect our business.

Legal proceedings

From time to time we may be involved in claims and proceedings arising in the course of our business. The outcome of any such claims or proceedings, regardless of the merits, is inherently uncertain. We are not currently party to any material legal proceedings.

The opening of Item 3, Legal Proceedings.4

Sources

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