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NVCT on Nasdaq

Nuvectis Pharma, Inc.

In its 2026 annual report the company says: “We are a clinical-stage biopharmaceutical company focused on the development of innovative precision medicines for the treatment of serious conditions of unmet medical need in oncology.”3 It is headquartered in Fort Lee, New Jersey.1 Its shares trade on Nasdaq under the symbol NVCT.1

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Last updated Oct 21, 2026.

Overview

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  • TickerNVCT on Nasdaq1
  • IndustryPharmaceutical Preparations1
  • HeadquartersFort Lee, New Jersey1
  • Incorporated inDE2
  • Business address1 Bridge Plaza, Suite 275, Fort Lee, Nj 070242
  • Filer category, Emerging growth company2
  • Legal formCorporation

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We are a clinical-stage biopharmaceutical company focused on the development of innovative precision medicines for the treatment of serious conditions of unmet medical need in oncology. We seek to develop drug candidates in the precision medicine space, and our processes for selection and clinical development of drug candidates are based on scientific data into cancer-promoting factors, as well as our understanding of the clinical landscape and regulatory requirements.3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Operating income4567-$27.6M in 2025+114% since 2021
-$30.0M-$20.0M-$10.0M02021: -$12.9M-$12.9M20212022: -$19.2M-$19.2M2022+49%2023: -$22.9M-$22.9M2023+19%2024: -$19.8M-$19.8M2024−13%2025: -$27.6M-$27.6M2025+39%
Net income4567-$26.4M in 2025+105% since 2021
-$30.0M-$20.0M-$10.0M02021: -$12.9M-$12.9M20212022: -$19.1M-$19.1M2022+48%2023: -$22.3M-$22.3M2023+17%2024: -$19.0M-$19.0M2024−15%2025: -$26.4M-$26.4M2025+39%

Every line of the income statement as filed: the last 2 fiscal years, latest first.7

Period ending2025-12-312024-12-31
Research and development$18.2M$12.9M
General and administrative$9.4M$6.9M
OPERATING LOSS-$27.6M-$19.8M
Finance income$1.1M$847.0K
NET LOSS-$26.4M-$19.0M
EFFECT OF WARRANTS MODIFICATION, see Note 6-$2.4M
TOTAL NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS-$28.9M-$19.0M
BASIC NET LOSS PER COMMON SHARE OUTSTANDING, see Note 8-$1.32-$1.11
DILUTED NET LOSS PER COMMON SHARE OUTSTANDING, see Note 8-$1.32-$1.11
Basic weighted average number of common shares outstanding21.8M shares17.1M shares
Diluted weighted average number of common shares outstanding21.8M shares17.1M shares

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Corporate structure

Nuvectis Pharma, 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 Nuvectis Pharma, Inc.

  • Soleus Private Equity Fund III, L.P. Filed SCHEDULE 13G on Nuvectis Pharma, Inc., latest Aug 6, 2026
  • Pontifax Management 4 G.P. (2015) Ltd. Filed SC 13G/A on Nuvectis Pharma, Inc., latest Nov 5, 2024 (2 filings since Feb 6, 2024)
  • Marlio Charles Mosseri Filed SC 13G/A on Nuvectis Pharma, Inc., latest Feb 28, 2024 (4 filings since Feb 15, 2022)
  • Enrique Poradosu Filed SC 13G/A on Nuvectis Pharma, Inc., latest Feb 1, 2024 (2 filings since Feb 13, 2023)
  • Shay Shemesh Filed SC 13G/A on Nuvectis Pharma, Inc., latest Feb 1, 2024 (2 filings since Feb 13, 2023)
  • Thomas Phineas Peters Filed SC 13G/A on Nuvectis Pharma, Inc., latest Jan 31, 2024 (2 filings since Apr 3, 2023)
  • Ron Bentsur Filed SC 13D on Nuvectis Pharma, Inc., latest Mar 28, 2022
  • Nuvectis Pharma, Inc. Fort Lee, New Jersey

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

What it owns

What Nuvectis Pharma, 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.

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$31.6M7 Dec 31, 2025$18.5M7 Dec 31, 2024+70.7%

Properties, in its own words

On May 3, 2025, we entered into a one-year lease for office space at 1 Bridge Plaza, 2nd Floor, Fort Lee, NJ 07024. We have taken possession of this space, which serves as our principal executive offices. Total rent expense over the full term of the lease will be approximately $15,000. We believe that our existing facilities are adequate to meet our current requirements. We plan to extend the lease prior to its expiration on May 3, 2026.

On August 22, 2025, we entered into a three-month lease at 216 East 52nd Street, New York, NY 10022. Total rent expense over the full term was $18,000. The lease has since expired and we did not renew the lease.

Item 2 of the 10-K filed Feb 11, 2026.3

Leadership

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

Chief executive

  1. Ron Bentsur2022–now

Chair

  1. Ron Bentsur2022–now
2025
Board members and other officers (6)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • DirectorJames Oliviero named Aug 10, 202217

Timeline

  1. Aug 21, 20268-K Other events18
  2. Aug 4, 20268-K Results of operations19
  3. Jun 30, 20268-K Entered a material agreement; Other events20
  4. Jun 29, 20268-K Other events21
  5. Jun 23, 20268-K Entered a material agreement; Other events22
  6. Jun 12, 20268-K Shareholder vote23
  7. May 5, 20268-K Results of operations24
  8. Feb 11, 20268-K Results of operations25
  9. Nov 4, 20258-K Results of operations26
  10. Sep 25, 20258-K Executive or director change27
  11. Aug 5, 20258-K Results of operations28
  12. Jun 13, 20258-K Shareholder vote29
  13. Feb 8, 2022New chief executive Ron Bentsur becomes CEO10

Calendar

Coming up

  1. Nov 3, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($0.44) a share, on Nov 4, 2025.30

When it reported results

  1. Aug 4, 2026Reported quarterly or annual results19
  2. May 5, 2026Reported quarterly or annual results24
  3. Feb 11, 2026Reported quarterly or annual results25
  4. Nov 4, 2025Reported quarterly or annual results26
  5. Aug 5, 2025Reported quarterly or annual results28
  6. May 6, 2025Reported quarterly or annual results31
  7. Feb 25, 2025Reported quarterly or annual results32
  8. Nov 5, 2024Reported quarterly or annual results33

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

Filings

268 filings to the SEC since October 2021: 6 annual reports, 14 quarterly reports, 37 major events, 139 insider forms, 14 large holders, 2 private raises, 56 other. The latest 20:

  1. Aug 28, 2026EFFECT EDGAR
  2. Aug 21, 2026S-3 EDGAR
  3. Aug 21, 20268-K EDGAR
  4. Aug 6, 2026SCHEDULE 13G EDGAR
  5. Aug 5, 20264 OWNERSHIP DOCUMENT EDGAR
  6. Aug 4, 202610-Q EDGAR
  7. Aug 4, 20268-K EDGAR
  8. Jul 1, 20264 OWNERSHIP DOCUMENT EDGAR
  9. Jul 1, 20264 OWNERSHIP DOCUMENT EDGAR
  10. Jun 30, 20268-K EDGAR
  11. Jun 30, 2026424B5 EDGAR
  12. Jun 29, 2026424B5 EDGAR
  13. Jun 29, 20268-K EDGAR
  14. Jun 23, 20268-K EDGAR
  15. Jun 12, 20264 OWNERSHIP DOCUMENT EDGAR
  16. Jun 12, 20264 OWNERSHIP DOCUMENT EDGAR
  17. Jun 12, 20264 OWNERSHIP DOCUMENT EDGAR
  18. Jun 12, 20264 OWNERSHIP DOCUMENT EDGAR
  19. Jun 12, 20268-K EDGAR
  20. May 5, 202610-Q EDGAR

The 268 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

134 open-market trades by officers, directors and large owners since October 2021: 133 buys and 1 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jun 30, 2026Mosseri Marlio Charles10% ownerBuy50,000$18.32$916.0KForm 4
Jun 30, 2026BENTSUR RONChairman & CEOBuy12,500$20.00$250.0KForm 4
Nov 5, 2025BENTSUR RONChairman & CEOBuy5,000$5.72$28.6KForm 4
Nov 5, 2025Sanchez JuanDirectorBuy13,000$5.79$75.3KForm 4
Nov 5, 2025Kaplan Matthew L.DirectorBuy11,000$5.84$64.2KForm 4
Oct 27, 2025Mosseri Marlio Charles10% ownerBuy72,836$6.28$457.4KForm 4
Oct 24, 2025Mosseri Marlio Charles10% ownerBuy35,034$6.15$215.5KForm 4
Oct 23, 2025Mosseri Marlio Charles10% ownerBuy46,900$6.06$284.2KForm 4
Jun 20, 2025Mosseri Marlio Charles10% ownerBuy5,603$7.99$44.8KForm 4
Jun 18, 2025Mosseri Marlio Charles10% ownerBuy28,043$8.05$225.7KForm 4
Jun 17, 2025Mosseri Marlio Charles10% ownerBuy5,399$8.11$43.8KForm 4
May 12, 2025Mosseri Marlio Charles10% ownerBuy21,167$8.11$171.7KForm 4
May 9, 2025Mosseri Marlio Charles10% ownerBuy25,062$8.94$224.0KForm 4
May 8, 2025Mosseri Marlio Charles10% ownerBuy2,600$8.96$23.3KForm 4
May 8, 2025Mosseri Marlio Charles10% ownerBuy2,650$8.65$22.9KForm 4
May 7, 2025Mosseri Marlio Charles10% ownerBuy12,317$8.59$105.8KForm 4
May 6, 2025Mosseri Marlio Charles10% ownerBuy12,444$8.59$107.0KForm 4
Feb 7, 2025Mosseri Marlio Charles10% ownerBuy240,000$5.00$1.2MForm 4
Dec 24, 2024BENTSUR RONChairman & CEOBuy4,500$4.65$20.9KForm 4
Dec 13, 2024Mosseri Marlio Charles10% ownerBuy17,000$4.70$79.9KForm 4

All 134 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
2025Ron BentsurChairman & CEO60$2.6M41
2025Enrique PoradosuChief Scientific & Business Officer60$1.6M41
2025Shay ShemeshChief Development and Operations Officer43$1.6M41
2024Enrique PoradosuChief Scientific & Business Officer60$468.8K$1.8M41
2024Shay ShemeshChief Development and Operations Officer43$468.8K$1.8M41
2024Ron BentsurChairman & CEO60$1.2M41

Money raised

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

  1. Jul 27, 2022Raised $15.9 million in a private offering of equity Form D: 19 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 83. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Tang Capital Management LLC1,550,000$28.5M1.3%New
BlackRock, Inc.1,001,285$18.4M0.0%+236,844
Perceptive Advisors LLC1,000,000$18.4M0.3%New
Soleus Capital Management, L.P.1,000,000$18.4M0.6%New
Vanguard Capital Management LLC872,482$16.0M0.0%+212,603
Iridian Asset Management Llc/ct777,078$14.3M4.9%+125,321
Geode Capital Management, LLC432,273$8.0M0.0%+48,168
Occam Crest Management LP357,147$7.4M4.1%−50,000
Sphera Funds Management Ltd.382,945$7.0M1.0%New
Baldwin Wealth Partners Llc/ma382,015$7.0M0.5%+3,390
Alyeska Investment Group, L.P.275,000$5.1M0.0%New
State Street Corp248,198$4.6M0.0%+81,682
Susquehanna International Group, Llp217,286$4.0M0.0%+112,000
Avidity Partners Management LP200,000$3.7M0.6%New
Kalehua Capital Management LLC200,000$3.7M1.2%New
Northern Trust Corp146,714$2.7M0.0%+22,502
Vanguard Fiduciary Trust Co127,554$2.3M0.0%+12,712
Vanguard Portfolio Management LLC118,297$2.2M0.0%+26,143
Citadel Advisors LLC115,532$2.1M0.0%+37,107
Oppenheimer & Co Inc73,566$1.4M0.0%No change
UBS Group AG69,200$1.3M0.0%+30,637
Forbes J M & Co Llp59,000$1.1M0.1%No change
Charles Schwab Investment Management Inc57,133$1.1M0.0%+7,488
Informed Momentum Co LLC47,168$867.4K0.1%New
Nuveen, LLC40,823$750.7K0.0%+24,074

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

SEC filer profile

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

  • Name on EDGARNuvectis Pharma, Inc.1
  • CIK0001875558
  • Employer ID (EIN)86-24056083
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company3
  • Incorporated inDelaware3
  • Fiscal year endsDecember 311
  • Industry code (SIC)2834 Pharmaceutical Preparations1
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance1
  • Business address1 Bridge Plaza, Suite 275, Fort Lee, NJ 070241
  • Phone360-837-72321
  • Shares outstanding32,581,533 as of Jul 31, 20269
  • Public float$100.0M as of Dec 31, 20253
  • AuditorPricewaterhouseCoopers International Limited, Tel-Aviv, Israel PCAOB ID 1309; no auditor attestation of internal control over financial reporting3
  • On EDGAR sinceJul 30, 20211
  • Filings273 in all: 4 (128), 8-K (37), 10-Q (14), CORRESP (11), 3 (9), SC 13G/A (7), S-1/A (6), UPLOAD (6)1
    All 32 form types

    10-K (5), 424B5 (5), EFFECT (5), SC 13G (5), DEF 14A (4), FWP (4), DEFA14A (3), S-3 (3), S-8 (3), 4/A (2), S-1 (2), SEC STAFF LETTER (2), 10-K/A (1), 424B4 (1), 8-A12B (1), CERT (1), D (1), D/A (1), DRS (1), DRS/A (1), DRSLTR (1), S-1MEF (1), SC 13D (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (10-K) Feb 11, 2026
    Quarterly report (10-Q) Aug 4, 2026
    Proxy statement (DEF 14A) Apr 27, 2026
    Latest 8-K (8-K) Aug 21, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.00001 perNVCTNASDAQ

From the cover page of the 10-K filed Feb 11, 2026 (Section 12(b) of the Exchange Act).3

Risk factors and legal proceedings

The risks Nuvectis Pharma, Inc. names in Item 1A of its 10-K filed Feb 11, 2026: 49 risks under these headings, as written.3

  • Risks Related to Our Finances and Capital Requirements
  • 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 have incurred losses since inception and anticipate that we will continue to incur losses for the foreseeable future. We may never achieve or maintain profitability.
  • We will require substantial additional funding. Raising additional capital may cause dilution to our existing stockholders, or require us to relinquish proprietary rights. If we are unable to raise capital as needed, we may be compelled to delay, reduce or eliminate our product development programs or commercialization efforts.
  • Tariffs and other trade measures could adversely affect our business, results of operations, financial position and cash flows.
  • Inadequate funding for the FDA, the SEC and other government agencies, including from government-shutdowns, or other disruptions to these agencies’ operations, 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.
  • Major public health issues, and specifically the policies and procedures implemented during the COVID-19 pandemic which are still in place, could have an adverse effect on our clinical trials, financial condition, results of operations, and other aspects of our business.
  • Risks Related to the Development of our Product Candidates
  • Our development approach may never lead to marketable products.
  • We are early in our development efforts and are substantially dependent on our ability to advance NXP900 or any of our other future product candidates through preclinical and clinical development, identify safe and effective doses and dosing schedules for our drug candidates, obtain regulatory approval and ultimately commercialize NXP900 or any of our other future product candidates; if we experience delays in doing so, our business will be materially harmed.
  • Clinical drug development involves a lengthy and expensive process with uncertain outcomes, clinical trials are difficult to design and implement, and any of our clinical trials could produce unsuccessful results or fail at any stage in the process.
  • Difficulty in enrolling patients could delay or prevent clinical trials of our current or future product candidates.
The other 39 risks
  • Our clinical studies, preclinical, manufacturing and other studies conducted as part of the development of our current or future product candidates may fail to adequately demonstrate the safety, potency, purity, efficacy or any other necessary pharmacological properties of any efficacy, or any other required properties of our current or future product candidates, which would prevent or delay development, regulatory approval and commercialization.
  • The FDA and comparable foreign regulatory authorities may not accept data from any preclinical or clinical trials we may conduct in foreign countries.
  • We may not be able to submit IND applications to commence additional clinical trials based on the timelines that we expect, and even if we are able to do so, the FDA may not permit us to proceed.
  • We currently have no marketing and sales organization and have limited experience in marketing products. If we are unable to establish marketing and sales capabilities or enter into agreements with third parties to market and sell any approved product candidates, we may not be able to generate product revenue.
  • We face substantial competition, which may result in others discovering, developing or commercializing products before or more successfully than we do.
  • Risks Related to Government Regulation
  • Denial of or delay in our receipt of required regulatory approvals may prevent or delay commercialization of our current or future product candidates and our ability to generate revenue may be materially impaired.
  • Obtaining and maintaining regulatory approval of our current or future product candidates in one jurisdiction does not mean that we will be successful in obtaining regulatory approval of our current or future product candidates in other jurisdictions.
  • Even if we receive regulatory approval of our current or future product candidates, we will be subject to ongoing regulatory obligations and regulatory review, which may result in significant additional expense and we may be subject to penalties if we fail to comply with regulatory requirements or experience unanticipated problems with our current or future product candidates.
  • A variety of risks associated with marketing our current or future product candidates internationally could materially adversely affect our business.
  • The insurance coverage and reimbursement status of newly approved products is uncertain. Our current or future product candidates may become subject to unfavorable pricing regulations, third-party coverage and reimbursement practices, or healthcare reform initiatives, which would harm our business. Failure to obtain or maintain adequate coverage and reimbursement for new or current products could limit our ability to market those products and decrease our ability to generate revenue.
  • Healthcare legislative measures and changes in policies, funding, staffing and leadership at the FDA and other agencies could hinder or prevent the commercial success of our products.
  • Our future relationships with customers and third-party payors in the United States and elsewhere may be subject to applicable anti-kickback, fraud and abuse, false claims, transparency, health information privacy and security and other healthcare laws and regulations, which could expose us to criminal sanctions, civil penalties, contractual damages, reputational harm, administrative burdens, diminished profits and future earnings.
  • 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.
  • Risks Related to our Intellectual Property
  • If we fail to comply with our obligations in our current license agreements, or in any future agreements under which we may license intellectual property rights from third parties or otherwise experience disruptions to our business relationships with our current or future licensors, we could lose license rights that are important to our business.
  • If we are unable to protect the confidentiality of our trade secrets, our business and competitive position would be harmed.
  • Third-party claims of intellectual property infringement, misappropriation or other violations may be costly and time consuming and may prevent or delay our product discovery and development efforts.
  • Changes to patent law in the United States and in foreign jurisdictions could diminish the value of patents in general, thereby impairing our ability to protect our products.
  • We may be subject to claims challenging the inventorship or ownership of our intellectual property, including any patents we may own or in-license currently or in the future.
  • We may be subject to claims that we or our employees, consultants or independent contractors have wrongfully used or disclosed confidential information or alleged trade secrets of third parties or competitors or breached non-competition or non-solicitation agreements with our competitors.
  • If we do not obtain patent term extension and data exclusivity for any of our current or future product candidates we may develop, our business may be materially harmed.
  • If our trademarks and trade names are not adequately protected, we may not be able to build name recognition in our marks of interest and our business may be adversely affected.
  • Risks Related to our Reliance on Third Parties
  • We plan to rely on third parties to conduct our preclinical studies and clinical trials. If these third parties do not properly and successfully carry out their contractual duties or meet expected deadlines, we may not be able to obtain regulatory approval of or commercialize our current or future product candidates.
  • We rely, and expect to continue to rely, on the third-party manufacturers to manufacture our current or future product candidates. Reliance on third parties increases the risk that we will not have sufficient quantities of our products or such quantities at an acceptable quality and cost, which could delay, prevent or impair our development or commercialization efforts.
  • If our third-party manufacturers use hazardous and biological materials in a manner that causes injury or violates applicable law, we may be liable for damages.
  • Risks Related to Managing Growth and Employee Matters
  • We are highly dependent on our key personnel and anticipate hiring new key personnel. If we are not successful in attracting and retaining highly qualified personnel, we may not be able to successfully implement our business strategy.
  • We will need to grow the size of our organization, and we may experience difficulties in managing this growth.
  • We will incur significant increased costs as a result of operating as a public company, and our management will be required to devote substantial time to compliance activities and initiatives.
  • Our business and operations would suffer in the event of computer system failures, cyber-attacks, or deficiencies in our or third parties’ cybersecurity.
  • Risks Related to Commercial Activities
  • If any of our current or future product candidates do not achieve broad market acceptance among physicians, patients, healthcare payors and the medical community, the revenues from any such current or future product candidate may be limited.
  • If product liability lawsuits are brought against us, we may incur substantial liabilities and may be required to limit commercialization of our current or future product candidates.
  • Risks Related to Ownership of our Common Stock
  • We do not know whether an active, liquid and orderly trading market will develop for our Common Stock or what the market price of our Common Stock will be and, as a result, it may be difficult for you to sell your shares of our Common Stock.
  • Our growth is subject to economic and political conditions.
  • We do not intend to pay dividends on our Common Stock in the foreseeable future, so any returns will be limited to the value of our stock, which may be volatile.
  • If equity research analysts do not publish research or reports about our business or if they publish negative evaluations of or downgrade our Common Stock, the price of our Common Stock could decline.
  • Raising additional capital may cause dilution to our existing stockholders, restrict our operations, or require us to relinquish rights to our current or future technologies or product candidates.
  • Our principal stockholders and management own a significant percentage of our stock and will be able to exert significant influence over matters subject to stockholder approval.
  • Our failure to meet the continuing listing requirements of the NASDAQ Capital Market could result in a de-listing of our securities.
  • 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 and smaller reporting companies will make our common stock less attractive to investors.
  • Provisions in our certificate of incorporation, our bylaws, and Delaware law may discourage, delay, or prevent a change in control of our Company or changes in our management and, as a result, depress the trading price of our stock.

Legal proceedings

From time to time, we may become involved in legal proceedings arising in the ordinary course of our business, the resolution of which we do not anticipate would have a material adverse impact on our financial position, results of operations or cash flows. However, there is no certainty that any such future litigation that may arise would not have a material financial impact on our business. As of the date of this report, we were not a party to any material legal matters or claims.

The opening of Item 3, Legal Proceedings.3

Sources

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