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Private company

KalVista Pharmaceuticals, Inc.

In its 2025 annual report the company says: “We are a global biopharmaceutical company dedicated to developing and delivering life-changing oral therapies for individuals affected by rare diseases with significant unmet needs.”6 It is headquartered in Cambridge, United States.2

Last updated Oct 21, 2026.

Overview

-$183.4MNet income, fiscal 20253
  • IndustryPharmaceutical Preparations2
  • HeadquartersCambridge, United States2
  • Incorporated inDE4
  • Business address200 Crossing Boulevard, Framingham, Ma 017024
  • Filer categoryNon-accelerated filer, Smaller reporting company4
  • Legal formCorporation2
  • LEI529900Q7IDA3WUGRZA512
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered addressIncorporating Services, Ltd., 3500 S Dupont Highway, 19901 Dover, United States2
  • Registered withDivision of Corporations, Department of State, 37827732

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We are a global biopharmaceutical company dedicated to developing and delivering life-changing oral therapies for individuals affected by rare diseases with significant unmet needs. On July 3, 2025, the U.S. Food and Drug Administration (the “FDA”) approved our new drug application (“NDA”) for the use of EKTERLY® (sebetralstat), a novel, orally delivered, small molecule plasma kallikrein inhibitor, for the treatment of acute attacks of hereditary angioedema (“HAE”) in adult and pediatric patients aged 12 years and older. EKTERLY (sebetralstat) is the first and only oral, on-demand therapy for HAE.6 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

-280.9%Operating margin3
-253.3%Net margin3
-61.3%Return on equity3
-$89.3MFree cash flow3

Where the money goes

Where each dollar of revenue went, fiscal 2024

  • Research and development100¢$86.2M

Out of $50.0M in revenue.73 The company lost money this year.

Financial statements

Revenue89107$50.0M in 2024+496% since 2018
0$20.0M$40.0M$60.0M2018: $8.4M$8.4M20182019: $16.1M$16.1M2019+92%2020: $12.7M$12.7M2020−21%2024: $50.0M$50.0M2024+294%
Operating income891011123-$140.4M in 2024+651% since 2018
-$150.0M-$100.0M-$50.0M02018: -$18.7M-$18.7M20182019: -$29.8M-$29.8M2019+59%2020: -$40.5M-$40.5M2020+36%2021: -$57.9M-$57.9M2021+43%2022: -$96.6M-$96.6M2022+67%2023: -$110.9M-$110.9M2023+15%2024: -$140.4M-$140.4M2024+27%
Net income891011123-$126.6M in 2024+701% since 2018
-$150.0M-$100.0M-$50.0M02018: -$15.8M-$15.8M20182019: -$20.8M-$20.8M2019+32%2020: -$29.1M-$29.1M2020+40%2021: -$46.2M-$46.2M2021+59%2022: -$82.3M-$82.3M2022+78%2023: -$92.9M-$92.9M2023+13%2024: -$126.6M-$126.6M2024+36%
Fiscal year2018201920202021202220232024
Revenue$8.4M8$16.1M9$12.7M10$50.0M7
Research and development$18.2M8$35.0M9$40.2M10$41.3M11$70.2M12$80.3M12$86.2M3
Operating expenses$96.6M12$110.9M12$140.4M3
Operating income-$18.7M8-$29.8M9-$40.5M10-$57.9M11-$96.6M12-$110.9M12-$140.4M3
Interest
Income before tax-$82.3M12-$92.9M12-$126.6M3
Income tax$015$124.0K9-$124.0K10$011$012$012$03
Net income-$15.8M8-$20.8M9-$29.1M10-$46.2M11-$82.3M12-$92.9M12-$126.6M3
Earnings per share-$1.6410-$2.4211-$3.3612-$3.3312-$3.443
Earnings per share (diluted)-$1.6410-$2.4211-$3.3612-$3.3312-$3.443
Shares (weighted, basic)24.5M shares1227.9M shares1236.8M shares3
Shares (weighted, diluted)24.5M shares1227.9M shares1236.8M shares3

Compare KalVista Pharmaceuticals, Inc. with another company

Corporate structure

KalVista Pharmaceuticals, Inc. sits at the top of its group. 7 entities, 6 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of KalVista Pharmaceuticals, Inc.

  • KalVista Pharmaceuticals, Inc. Cambridge, Massachusetts, United States
    • KalVista Pharmaceuticals (Ireland) Limited Subsidiary · Ireland
    • KalVista Pharmaceuticals Germany GmbH Subsidiary · Germany
    • KalVista Pharmaceuticals Japan K.K. Subsidiary · Japan
    • KalVista Pharmaceuticals Limited (UK) Subsidiary · United Kingdom
    • KalVista Pharmaceuticals Switzerland GmbH Subsidiary · Switzerland
    • KalVista Securities Holding Corporation Subsidiary · Massachusetts, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What KalVista Pharmaceuticals, 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$8.4M17 Dec 31, 2025$5.9M17 Apr 30, 2024+41.6%
Accumulated depreciation$5.4M17 Dec 31, 2025$3.7M17 Apr 30, 2024+44.8%
Property and equipment, net$3.0M17 Dec 31, 2025$2.2M17 Apr 30, 2024+36.2%
Operating-lease assets (leased space)$9.8M17 Dec 31, 2025$6.9M17 Apr 30, 2024+42.0%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$229.3M17 Dec 31, 2025$31.8M17 Apr 30, 2024+621.5%
Marketable securities, current$70.9M17 Dec 31, 2025$178.6M17 Apr 30, 2024−60.3%
Debt securities available for sale$70.9M17 Dec 31, 2025$178.6M17 Apr 30, 2024−60.3%

Inventory

ItemLatestA year beforeChange
Inventory, total$3.4M17 Dec 31, 2025
Raw materials$2.5M17 Dec 31, 2025
Work in process$529.0K17 Dec 31, 2025
Finished goods$374.0K17 Dec 31, 2025

Properties, in its own words

Details of our principal properties as of December 31, 2025, are provided below:

Location · Function · Squarefootage · Initial LeaseTerm EndDate

The rest of Item 2

Framingham, MA · Corporate headquarters · 32,110 · 2035

Cambridge, MA · Office space - subleased to third-party · 8,300 · 2028

Salt Lake City, UT · Office space · 6,200 · 2032

Cambridge, MA · Laboratory facility · 500 · 2028

Porton Down, U.K. · Office space and laboratory facility · 13,400 · 2028

Dublin, Ireland · Office space · 1,100 · 2028

Tokyo, Japan · Office space · 237 · 2026

Zug, Switzerland · Office space · 7,200 · 2030

Berlin, Germany · Office space · 215 · 2026

We believe that our current and future facilities will be adequate for the foreseeable future. Refer to Note 12, Leases, in the Notes to the Consolidated Financial Statements for further details on the Company's leases.

Item 2 of the 10-KT filed Mar 25, 2026.18

Leadership

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

Chief executive

  1. David Renzi2015–2016
  2. Thomas Andrew Crockett2016–2024
  3. Benjamin L. Palleiko2024–now

President

  1. David Renzi2015–2016
  2. Thomas Andrew Crockett2016
  3. Benjamin L. Palleiko2023

Chief financial officer

  1. Benjamin L. Palleiko2016–2024
  2. Brian Piekos2024–now
20202025
Board members and other officers (35)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • KalVista Pharmaceuticals (Ireland) Limited Ireland5
  • KalVista Pharmaceuticals Germany GmbH Germany5
  • KalVista Pharmaceuticals Japan K.K. Japan5
  • KalVista Pharmaceuticals Limited (UK) England and Wales5
  • KalVista Pharmaceuticals Switzerland GmbH Switzerland5
  • KalVista Securities Holding Corporation Massachusetts5

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

Former names

  • Carbylan Therapeutics, Inc.Sep 19, 2014 to Nov 21, 20164
  • Carbylan Biosurgery, IncJan 3, 2013 to Jan 3, 20134
  • Carbylan Biosurgery IncDec 29, 2005 to Dec 29, 20054

Timeline

  1. Jun 11, 20268-K Entered a material agreement; Ended a material agreement; Completed an acquisition or sale57
  2. Apr 29, 20268-K Entered a material agreement; Regulation FD disclosure58
  3. Mar 25, 20268-K Results of operations59
  4. Jan 8, 20268-K Results of operations; Regulation FD disclosure60
  5. Nov 10, 20258-K Results of operations61
  6. Oct 6, 20258-K Executive or director change; Regulation FD disclosure62
  7. Oct 2, 20258-K Executive or director change; Shareholder vote; Regulation FD disclosure63
  8. Sep 29, 20258-K Entered a material agreement; New debt or obligation; Unregistered sale of shares64
  9. Sep 11, 20258-K Results of operations65
  10. Aug 21, 20258-K Other events66
  11. Jul 10, 20258-K Results of operations67
  12. Jul 7, 20258-K Regulation FD disclosure; Other events68
  13. Mar 8, 2024New chief executive Benjamin L. Palleiko becomes CEO19
  14. Nov 28, 2016New chief executive Thomas Andrew Crockett becomes CEO20
  15. Aug 5, 2015New chief executive David Renzi becomes CEO21

Calendar

When it reported results

  1. Mar 25, 2026Reported quarterly or annual results59
  2. Jan 8, 2026Reported quarterly or annual results60
  3. Nov 10, 2025Reported quarterly or annual results61
  4. Sep 11, 2025Reported quarterly or annual results65
  5. Jul 10, 2025Reported quarterly or annual results67
  6. Mar 12, 2025Reported quarterly or annual results69
  7. Dec 5, 2024Reported quarterly or annual results70
  8. Sep 5, 2024Reported quarterly or annual results71

Drug trials and FDA: recently

  1. May 27, 2026Phase 3 trial completed Phase 3 trial of KVD900 600 mg and KVD900 300 mg in Hereditary Angioedema: primary completion May 27, 2026, no results posted yet (ClinicalTrials.gov NCT05505916).72
  2. May 27, 2026Phase 3 trial completed Phase 3 trial of KVD900 600 mg and Drug: KVD900 300 mg in Hereditary Angioedema: primary completion May 27, 2026, no results posted yet (ClinicalTrials.gov NCT05511922).73
  3. Jan 15, 2026Phase 3 trial completed Phase 3 trial of KVD900 150 mg, KVD900 300 mg and others in Hereditary Angioedema: primary completion Jan 15, 2026, results posted Aug 5, 2026 (ClinicalTrials.gov NCT06467084).74

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). Trials from ClinicalTrials.gov, as the sponsor registered them (expected dates are the sponsor's own and often move); approvals and advisory committee meetings from the FDA. The FDA does not publish its decision (PDUFA) dates. The full markets calendar

Filings

430 filings to the SEC since October 2021: 6 annual reports, 14 quarterly reports, 49 major events, 229 insider forms, 70 large holders, 62 other. The latest 20:

  1. Aug 14, 2026SCHEDULE 13G/A EDGAR
  2. Aug 14, 2026SCHEDULE 13G/A EDGAR
  3. Aug 14, 2026SCHEDULE 13G/A EDGAR
  4. Aug 11, 2026SCHEDULE 13G EDGAR
  5. Jun 22, 202615-12G EDGAR
  6. Jun 16, 2026EFFECT EDGAR
  7. Jun 11, 20264 EDGAR
  8. Jun 11, 20264 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, 20264 EDGAR
  15. Jun 11, 20264 EDGAR
  16. Jun 11, 20264 EDGAR
  17. Jun 11, 20264 EDGAR
  18. Jun 11, 202625-NSE EDGAR
  19. Jun 11, 20264 EDGAR
  20. Jun 11, 20264 EDGAR

The 430 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

166 open-market trades by officers, directors and large owners since October 2021: 32 buys and 134 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
May 27, 2026Yea ChristopherCHIEF DEVELOPMENT OFFICERSale33,800$26.78$905.2KForm 4
May 26, 2026Audhya Paul K.CHIEF MEDICAL OFFICERSale2,239$26.78$60.0KForm 4
May 26, 2026Sweeny NicoleChief Commercial OfficerSale1,489$26.78$39.9KForm 4
May 26, 2026Yea ChristopherCHIEF DEVELOPMENT OFFICERSale1,966$26.78$52.6KForm 4
May 22, 2026Audhya Paul K.CHIEF MEDICAL OFFICERSale2,685$26.78$71.9KForm 4
May 22, 2026Sweeny NicoleChief Commercial OfficerSale1,861$26.78$49.8KForm 4
May 22, 2026Piekos BrianChief Financial OfficerSale1,489$26.78$39.9KForm 4
May 22, 2026Yea ChristopherCHIEF DEVELOPMENT OFFICERSale2,358$26.78$63.1KForm 4
May 22, 2026Palleiko Benjamin LCHIEF EXECUTIVE OFFICERSale10,926$26.78$292.6KForm 4
May 18, 2026Audhya Paul K.CHIEF MEDICAL OFFICERSale1,032$26.76$27.6KForm 4
May 18, 2026Yea ChristopherCHIEF DEVELOPMENT OFFICERSale1,108$26.76$29.6KForm 4
May 18, 2026Palleiko Benjamin LCHIEF EXECUTIVE OFFICERSale1,129$26.76$30.2KForm 4
May 12, 2026Palleiko Benjamin LCHIEF EXECUTIVE OFFICERSale3,322$26.71$88.7KForm 4
Apr 17, 2026Audhya Paul K.CHIEF MEDICAL OFFICERSale2,686$20.22$54.3KForm 4
Apr 17, 2026Sweeny NicoleChief Commercial OfficerSale1,862$20.22$37.6KForm 4
Apr 17, 2026Piekos BrianChief Financial OfficerSale1,862$20.22$37.6KForm 4
Apr 17, 2026Palleiko Benjamin LCHIEF EXECUTIVE OFFICERSale9,550$20.22$193.1KForm 4
Mar 26, 2026Venrock Healthcare Capital Partners EG, L.P.10% ownerSale39,986$18.28$730.8KForm 4
Mar 25, 2026Venrock Healthcare Capital Partners EG, L.P.10% ownerSale174,645$16.95$3.0MForm 4
Mar 9, 2026Palleiko Benjamin LCHIEF EXECUTIVE OFFICERSale6,693$16.08$107.6KForm 4

All 166 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 L. Palleiko60$688.3K$5.1M104
2025Paul K. Audhya52$523.0K$2.8M104
2025Brian Piekos50$296.3K$2.1M104
2024Chief Executive Officer$580.4K$6.8M104
2024Chief Medical Officer$502.9K$1.8M104
2023Chief Executive Officer$514.5K$2.4M104

SEC filer profile

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

  • Name on EDGARKalVista Pharmaceuticals, Inc.1
  • CIK0001348911
  • Employer ID (EIN)20-091529118
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company18
  • Incorporated inDelaware18
  • Fiscal year endsDecember 311
  • Industry code (SIC)2834 Pharmaceutical Preparations1
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance1
  • Business address200 Crossing Boulevard, Framingham, MA 017021
  • Phone(857) 999-00751
  • Shares outstanding53,240,888 as of May 7, 202614
  • Public float$498.8M as of Jun 30, 202518
  • AuditorDeloitte & Touche LLP, Boston, Massachusetts PCAOB ID 34; no auditor attestation of internal control over financial reporting18
  • On EDGAR sinceDec 29, 20051
  • Filings884 in all: 4 (390), 8-K (119), 3 (46), SC 13G/A (45), 10-Q (34), SC 13G (29), SC 13D/A (21), S-8 (16)1
    All 55 form types

    S-8 POS (16), CORRESP (13), 424B5 (12), UPLOAD (12), DEF 14A (11), SCHEDULE 13G/A (11), 10-K (10), 4/A (10), SC 13D (10), DEFA14A (9), EFFECT (7), 144 (5), S-3 (5), SCHEDULE 13G (5), ARS (3), D (3), SCHEDULE 13D/A (3), CT ORDER (2), DRS/A (2), DRSLTR (2), PRE 14A (2), PRER14A (2), REGDEX (2), S-1/A (2), SC 14D9/A (2), SC TO-T/A (2), 10-KT (1), 10-KT/A (1), 15-12G (1), 25-NSE (1), 424B4 (1), 8-A12B (1), 8-K/A (1), CERTNAS (1), DEFM14A (1), DRS (1), NT 10-K (1), POS AM (1), PREM14A (1), S-1 (1), S-1MEF (1), S-3/A (1), S-3MEF (1), SC 14D9 (1), SC TO-C (1), SC TO-T (1), SC14D9C (1)

  • Latest filingsAnnual report (10-KT) Mar 25, 2026
    Quarterly report (10-Q) May 14, 2026
    Proxy statement (DEF 14A) Aug 21, 2025
    Latest 8-K (8-K) Jun 11, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $0.001 par value per shareKALVThe Nasdaq Global Market

From the cover page of the 10-KT filed Mar 25, 2026 (Section 12(b) of the Exchange Act).18

Risk factors and legal proceedings

The risks KalVista Pharmaceuticals, Inc. names in Item 1A of its 10-KT filed Mar 25, 2026: 49 risks under these headings, as written.18

  • Risks Related to Our Business
  • We have incurred significant losses since our inception. We expect to incur losses over the next several years and may never achieve or maintain profitability.
  • We may need substantial additional funding to support us through clinical development and commercial launch, and if we are unable to raise capital when needed, we could be forced to delay, reduce or eliminate our product development programs or commercialization efforts.
  • Raising additional capital may cause dilution to our stockholders, restrict our operations or require us to relinquish rights to our technologies or product candidates.
  • Risks Related to the Development and Commercialization of Our Product Candidates
  • We are heavily dependent on the successful commercialization of EKTERLY (sebetralstat) in the U.S. and other jurisdictions, where we may obtain regulatory approval, and development, regulatory approval, and commercialization of our other product candidates.
  • We obtained regulatory approval from the FDA for EKTERLY (sebetralstat), but have not yet demonstrated an ability to successfully conduct commercial activities.
  • We 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 of EKTERLY (sebetralstat).
  • The sales, marketing, and distribution of EKTERLY (sebetralstat) or any other product candidates, if approved, may be unsuccessful or less successful than anticipated. If we are unable to establish sales and marketing capabilities or enter into agreements with third parties to sell and market EKTERLY (sebetralstat), or any other product candidates approved for commercial sale, on acceptable terms, we may be unable to successfully commercialize EKTERLY (sebetralstat) or any other product candidates.
  • We face substantial competition, which may result in others discovering, developing or commercializing competing products before or more successfully than we do.
  • If we are unable to achieve and maintain third-party payor coverage and adequate levels of reimbursement for EKTERLY (sebetralstat) or any of our other product candidates for which we receive regulatory approval, or any future products we may seek to commercialize, their commercial success may be severely hindered.
  • Product liability lawsuits against us could cause us to incur substantial liabilities and to limit commercialization of any products that we may develop.
The other 39 risks
  • Clinical drug development involves a lengthy and expensive process, with an uncertain outcome. We may incur additional costs or experience delays in completing, or ultimately be unable to complete, the development and commercialization of our product candidates.
  • If we experience delays or difficulties in the enrollment of patients in clinical trials, our receipt of necessary regulatory approvals could be delayed or prevented and expenses for development of our product candidates could increase.
  • If we do not achieve our projected development goals in the timeframes we announce and expect, the commercialization of our products may be delayed and, as a result, our stock price may decline.
  • If serious adverse events or unacceptable side effects are identified during the development of our product candidates, we may need to abandon or limit the development of some of our product candidates.
  • Risks Related to Regulatory Approval of Our Product Candidates and Other Legal Compliance Matters
  • If we are not able to obtain, or if there are delays in obtaining, required regulatory approvals, we will not be able to commercialize our product candidates, and our ability to generate revenue will be materially impaired.
  • Our operations and relationships with healthcare providers, healthcare organizations, customers and third-party payors will be subject to applicable anti-bribery, anti-kickback, fraud and abuse, transparency and other healthcare laws and regulations, which could expose us to, among other things, enforcement actions, criminal sanctions, civil penalties, contractual damages, reputational harm, administrative burdens and diminished profits and future earnings.
  • An orphan drug designation by the FDA or other comparable foreign regulatory authorities does not increase the likelihood that our product candidates will receive marketing exclusivity.
  • Failure to obtain regulatory approval in jurisdictions outside the U.S. would prevent EKTERLY (sebetralstat) and our other product candidates from being marketed in those jurisdictions.
  • Any product candidate for which we obtain regulatory approval, including EKTERLY (sebetralstat), will be subject to extensive post-marketing regulatory requirements and could be subject to post-marketing restrictions or withdrawal from the market, and we may be subject to penalties if we fail to comply with regulatory requirements or if we experience unanticipated problems with our approved products.
  • Recently enacted and future legislation may increase the difficulty and cost for us to obtain regulatory approval of and commercialize our product candidates and affect the prices we may obtain.
  • Governments outside the U.S. tend to impose strict price controls, which may adversely affect our revenues, if any.
  • 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 harm our business.
  • Our employees may engage in misconduct or other improper activities, including noncompliance with regulatory standards and requirements.
  • Risks Related to Our Dependence on Third Parties
  • We contract with third parties for the manufacture of EKTERLY (sebetralstat) and our other product candidates for preclinical and clinical testing and we expect to continue to do so for commercialization. This reliance on third parties increases the risk that we will not have sufficient quantities of our product candidates or products at an acceptable cost and quality, which could delay, prevent or impair our development or commercialization efforts.
  • We may not successfully engage in strategic transactions, including any additional collaborations we seek, which could adversely affect our ability to develop and commercialize product candidates, impact our cash position, increase our expenses and present significant distractions to our management. The terms of any collaborations may also have impacts on other aspects of our business.
  • We have entered, and may in the future seek to enter, into collaborations with third parties for the development and commercialization of sebetralstat or our other product candidates. If we fail to enter into such collaborations, or such collaborations are not successful, we may not be able to capitalize on the market potential of sebetralstat or our other product candidates that obtain regulatory approval.
  • We rely, and intend to continue to rely, on third parties to support or conduct our clinical trials and perform some of our research and preclinical studies. If these third parties do not satisfactorily carry out their contractual duties, fail to comply with applicable regulatory requirements or do not meet expected deadlines, our development programs may be delayed or subject to increased costs or we may be unable to obtain regulatory approval, each of which may have an adverse effect on our business, financial condition, results of operations and prospects.
  • Risks Related to Our Intellectual Property
  • If we are unable to obtain and maintain intellectual property protection for our technology and products or if the scope of the intellectual property protection obtained 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 technology and products may be impaired.
  • Obtaining and maintaining our 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 non-compliance with these requirements.
  • We may become involved in lawsuits to protect or enforce our patents or other intellectual property, which could be expensive, time consuming and 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.
  • If we are unable to protect the confidentiality of our trade secrets, our business and competitive position would be harmed.
  • Risks Related to Employee Matters, Facilities, Managing Growth and Macroeconomic Conditions
  • Our future success depends on our ability to retain key executives and to attract, retain and motivate qualified personnel.
  • We expect to continue to increase the size of our organization, and as a result, we may encounter difficulties in managing our growth, which could disrupt our operations.
  • Business disruptions could seriously harm our future revenue and financial condition and increase our costs and expenses.
  • Actual or perceived failure to comply with privacy and data security laws, regulations and standards may cause our business to be materially adversely affected.
  • Our business and operations would suffer in the event of system failures, cyberattacks or a deficiency in our cybersecurity.
  • Risks Related to Ownership of Our Common Stock
  • Our stock price is volatile and our stockholders may not be able to resell shares of our common stock at or above the price they paid.
  • We incur significant costs as a result of operating as a public company, and our management devotes substantial time to compliance initiatives. We may fail to comply with the rules that apply to public companies, including Section 404 of the Sarbanes-Oxley Act of 2002, which could result in sanctions or other penalties that would harm our business.
  • Shareholder Activism Could Cause Material Disruption to Our Business.
  • Provisions in our charter documents and under Delaware law could discourage a takeover that stockholders may consider favorable and may lead to entrenchment of management.
  • Claims for indemnification by our directors and officers may reduce our available funds to satisfy successful third-party claims against us and may reduce the amount of money available to us.
  • Our ability to use our net operating losses to offset future taxable income, if any, may be subject to certain limitations.
  • General Risk Factors
  • Unstable or unfavorable global market and economic conditions may have adverse consequences on our business, financial condition and stock price.
  • Changes in tax laws or tax rulings could materially affect our financial position, results of operations and cash flows.
  • If securities or industry analysts do not publish research or reports about our business, or if they issue an adverse opinion regarding our stock, our stock price and trading volume could decline.
  • We do not currently intend to pay dividends on our common stock, and, consequently, our stockholders’ ability to achieve a return on their investment will depend on appreciation in the price of our common stock.

Legal proceedings

From time to time, we may become involved in various lawsuits and legal proceedings which arise in the ordinary course of business. We are currently not aware of any such legal proceedings or claims that we believe will have a material adverse effect on our business, financial condition or operating results.

The opening of Item 3, Legal Proceedings.18

Sources

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  32. 32
  33. 33
  34. 34
  35. 35
  36. 36
  37. 37
  38. 38
  39. 39
  40. 40
  41. 41
  42. 42
  43. 43
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  48. 48
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  54. 54
  55. 55
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  60. 60
  61. 61
  62. 62
  63. 63
  64. 64
  65. 65
  66. 66
    SEC EDGAROther events
  67. 67
  68. 68
  69. 69
  70. 70
  71. 71
  72. 72
  73. 73
  74. 74
  75. 75
  76. 76
  77. 77
  78. 78
  79. 79
  80. 80
  81. 81
  82. 82
  83. 83
  84. 84
  85. 85
  86. 86
  87. 87
  88. 88
  89. 89
  90. 90
  91. 91
  92. 92
  93. 93
  94. 94
  95. 95
  96. 96
  97. 97
  98. 98
  99. 99
  100. 100
  101. 101
  102. 102
  103. 103
  104. 104