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NXTC on Nasdaq

NextCure, Inc.

NextCure, Inc. is an American pharmaceutical preparations company based in Beltsville.2 Its shares trade on Nasdaq under the symbol NXTC.2

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Last updated Oct 21, 2026.

Overview

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  • TickerNXTC on Nasdaq2
  • IndustryPharmaceutical Preparations2
  • HeadquartersBeltsville, United States2
  • Incorporated inDE3
  • Business address2850 Quarry Lake Drive, Suite 280, Baltimore, Md 212093
  • Filer categoryNon-accelerated filer, Smaller reporting company3
  • Legal formCorporation2
  • LEI549300Y5PR6RJR1STI242
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered addressC/O THE CORPORATION TRUST COMPANY, 19801 Wilmington, United States2
  • Registered withDivision of Corporations, Department of State, 58157722

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These statements, and other forward-looking statements, are based on management’s current expectations, estimates, forecasts and projections about our business and industry, are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that are in some cases beyond our control, and that may cause our actual results, levels of activity, performance or achievements to be materially different from those anticipated by the forward-looking statements. Forward-looking statements contained in this Annual Report should be considered in light of these factors and the factors set forth under “Risk Factor Summary” below and the factors described elsewhere in this Annual Report, including in the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” These factors, and the other caut…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 2020

-184.2%Operating margin5
-163.6%Net margin5
252.6%Revenue growth, 20205
-12.5%Return on equity6
0.01×Debt to equity5
-$52.1MFree cash flow5

Where the money goes

Where each dollar of revenue went, fiscal 2020

  • Research and development100¢$46.6M
  • Interest0¢$183.0K

Out of $22.4M in revenue.5 The company lost money this year.

Financial statements

Revenue75$22.4M in 2020+253% since 2019
0$10.0M$20.0M$30.0M2019: $6.3M$6.3M20192020: $22.4M$22.4M2020+253%
Operating income75-$41.2M in 2020+10% since 2019
-$60.0M-$40.0M-$20.0M02019: -$37.5M-$37.5M20192020: -$41.2M-$41.2M2020+10%
Net income75-$36.6M in 2020+8% since 2019
-$40.0M-$30.0M-$20.0M-$10.0M02019: -$33.7M-$33.7M20192020: -$36.6M-$36.6M2020+8%

Every line of the income statement as filed: the last 2 fiscal years, latest first.10

Period ending2025-12-312024-12-31
Research and development$44.9M$41.5M
General and administrative$12.7M$15.7M
Restructuring and asset impairment charges$2.5M
Total operating expenses$57.6M$59.7M
Loss from operations-$57.6M-$59.7M
Other income, net$1.8M$4.1M
Basic (in dollars per share)-$19.65-$23.88
Diluted (in dollars per share)-$19.65-$23.88
Basic (in shares)2.8M shares2.3M shares
Diluted (in shares)2.8M shares2.3M shares
Net loss-$55.8M-$55.7M
Unrealized gain on marketable securities$17.0K$226.0K
Total comprehensive loss-$55.8M-$55.4M

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Corporate structure

NextCure, 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 NextCure, Inc.

  • NextCure, Inc. Beltsville, Maryland, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What NextCure, 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$28.6M10 Dec 31, 2025$28.6M10 Dec 31, 20240%
Accumulated depreciation$25.3M10 Dec 31, 2025$23.1M10 Dec 31, 2024+9.5%
Property and equipment, net$3.3M10 Dec 31, 2025$5.5M10 Dec 31, 2024−40.0%
Operating-lease assets (leased space)$2.6M10 Dec 31, 2025$3.3M10 Dec 31, 2024−19.8%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$26.0M10 Dec 31, 2025$27.7M10 Dec 31, 2024−6.3%

Properties, in its own words

Our corporate headquarters is located in Beltsville, Maryland and consists of approximately 28,500 square feet of office, 20,600 square feet of laboratory and manufacturing and 20,200 square feet of warehouse space. The lease terms expire in March 2030. We believe that these facilities are adequate for our current needs and that suitable additional or substitute space will be available in the future if needed.

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

Leadership

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

Chief executive

  1. Michael Richman2019–now

President

  1. Michael Richman2019–now

Chief financial officer

  1. Steven P. Cobourn2019–now

Chief operating officer

  1. Timothy Mayer2020–now
20202025
Board members and other officers (22)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • DirectorStephen G. Webster named Dec 10, 202535

Timeline

  1. Sep 25, 20268-K Other events36
  2. Sep 3, 20268-K Entered a material agreement37
  3. Aug 6, 20268-K Results of operations38
  4. Jul 14, 20268-K Entered a material agreement; Exit or restructuring costs; Change in control39
  5. Jun 25, 20268-K Executive or director change; Shareholder vote40
  6. Jun 1, 20268-K Regulation FD disclosure; Other events41
  7. May 7, 20268-K Results of operations42
  8. Mar 5, 20268-K Results of operations43
  9. Jan 23, 20268-K Results of operations; Regulation FD disclosure; Other events44
  10. Dec 19, 20258-K Other events45
  11. Nov 17, 20258-K Entered a material agreement; Unregistered sale of shares; Regulation FD disclosure46
  12. Nov 5, 20258-K Results of operations47
  13. May 8, 2019New chief executive Michael Richman becomes CEO11

Calendar

Coming up

  1. Nov 4, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($3.22) a share, on Nov 5, 2025.48

When it reported results

  1. Aug 6, 2026Reported quarterly or annual results38
  2. May 7, 2026Reported quarterly or annual results42
  3. Mar 5, 2026Reported quarterly or annual results43
  4. Jan 23, 2026Reported quarterly or annual results44
  5. Nov 5, 2025Reported quarterly or annual results47
  6. Aug 7, 2025Reported quarterly or annual results49
  7. May 1, 2025Reported quarterly or annual results50
  8. Mar 6, 2025Reported quarterly or annual results51

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

Filings

221 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 47 major events, 86 insider forms, 27 large holders, 1 private raises, 40 other. The latest 20:

  1. Oct 1, 2026S-4/A EDGAR
  2. Sep 25, 2026425 EDGAR
  3. Sep 25, 20268-K EDGAR
  4. Sep 3, 20268-K EDGAR
  5. Aug 18, 2026S-4 EDGAR
  6. Aug 14, 2026SCHEDULE 13G/A EDGAR
  7. Aug 14, 2026SCHEDULE 13G/A EDGAR
  8. Aug 14, 2026SCHEDULE 13G EDGAR
  9. Aug 13, 2026SCHEDULE 13G/A EDGAR
  10. Aug 12, 20264 EDGAR
  11. Aug 12, 2026SCHEDULE 13G EDGAR
  12. Aug 10, 2026425 EDGAR
  13. Aug 6, 202610-Q EDGAR
  14. Aug 6, 20268-K EDGAR
  15. Aug 4, 2026425 EDGAR
  16. Aug 3, 20264 PRIMARY DOCUMENT EDGAR
  17. Jul 29, 20264 PRIMARY DOCUMENT EDGAR
  18. Jul 29, 20263 PRIMARY DOCUMENT EDGAR
  19. Jul 16, 2026425 EDGAR
  20. Jul 14, 2026425 EDGAR

The 221 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

6 open-market trades by officers, directors and large owners since October 2021: 5 buys and 1 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 10, 2026Jiangsu Simcere Zaiming Pharmaceutical Co., Ltd.Sale30,000$6.16$184.8KForm 4
Jul 31, 2026ADAR1 Capital Management, LLC10% ownerBuy36,303$4.94$179.3KForm 4
Jul 30, 2026ADAR1 Capital Management, LLC10% ownerBuy292,850$4.93$1.4MForm 4
Jul 29, 2026ADAR1 Capital Management, LLC10% ownerBuy3,410$5.00$17.1KForm 4
Jul 28, 2026ADAR1 Capital Management, LLC10% ownerBuy6,400$4.95$31.7KForm 4
Jul 27, 2026ADAR1 Capital Management, LLC10% ownerBuy7,798$5.00$39.0KForm 4

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
2025Michael RichmanPresident and Chief Executive Officer65$609.3K$941.7K66
2025Udayan Guha, M.D., Ph.D. Chief Medical Officer54$474.2K$639.2K66
2025Timothy Mayer, Ph.D.Chief Operating Officer62$468.4K$633.2K66
2024Michael RichmanPresident and Chief Executive Officer65$591.5K$1.5M66
2024Timothy Mayer, Ph.D.Chief Operating Officer62$454.7K$872.2K66

Money raised

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

  1. Nov 12, 2025Raised $21.5 million in a private offering of equity Form D: 12 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 30. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Ikarian Capital, LLC288,303$461.3K0.1%+50,000
Adage Capital Partners Gp, L.l.c.277,202$443.5K0.0%New
Sofinnova Investments, Inc.222,654$356.2K0.0%No change
Renaissance Technologies LLC171,202$273.9K0.0%+110,668
Vanguard Capital Management LLC156,842$250.9K0.0%−3,631
Millennium Management LLC88,112$141.0K0.0%New
Boothbay Fund Management, LLC84,687$135.5K0.0%+15,070
Squadron Capital Management LLC64,464$103.1K0.0%−200,536
Verdad Advisers, LP60,451$96.7K0.1%+17,496
Pfizer Inc44,347$73.0K0.0%−109,007
Affinity Asset Advisors, LLC41,960$67.1K0.0%−199,866
BlackRock, Inc.37,348$59.8K0.0%+9,555
Jane Street Group, LLC32,725$52.4K0.0%New
Geode Capital Management, LLC29,905$47.9K0.0%−1,187
Cardiff Park Advisors, LLC21,833$34.9K0.0%No change
Vanguard Fiduciary Trust Co16,134$25.8K0.0%+119
Nomura Asset Management International Inc.12,500$20.0K0.0%New
Diadema Partners LP7,742$12.4K0.0%New
Barclays PLC5,726$9.2K0.0%+100
Persistent Asset Partners Ltd1,981$3.2K0.0%New
Tower Research Capital LLC (TRC)1,738$2.8K0.0%New
UBS Group AG594$9510.0%+256
Northwestern Mutual Wealth Management Co83$1330.0%New
Jpmorgan Chase & Co61$1070.0%No change
Morgan Stanley66$1060.0%No change

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

SEC filer profile

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

  • Name on EDGARNextCure, Inc.1
  • CIK0001661059
  • Employer ID (EIN)47-52312474
  • Filer statusNon-accelerated filer not 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 address2850 Quarry Lake Drive, Suite 280, Baltimore, MD 212091
  • Mailing addressPo Box 1052, Frederick, MD 21702-00521
  • Phone240-399-49001
  • Shares outstanding4,577,359 as of Jul 31, 20269
  • Public float$12.6M as of Jun 30, 20254
  • AuditorErnst & Young LLP, Baltimore, Maryland PCAOB ID 42; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceJan 11, 20161
  • Filings390 in all: 4 (127), 8-K (66), 3 (29), 10-Q (23), SC 13G/A (13), SC 13G (12), SCHEDULE 13G/A (10), DEFA14A (9)1
    All 43 form types

    CORRESP (8), 10-K (7), DEF 14A (7), SCHEDULE 13G (7), UPLOAD (7), EFFECT (6), 425 (5), S-8 (5), S-1/A (4), SEC STAFF LETTER (4), 424B5 (3), D (3), DRSLTR (3), S-3 (3), SC 13D/A (3), 424B4 (2), DRS (2), DRS/A (2), PRE 14A (2), S-1 (2), SC 13D (2), 10-K/A (1), 3/A (1), 424B1 (1), 424B2 (1), 8-A12B (1), ARS (1), CERT (1), POS AM (1), POSASR (1), S-1MEF (1), S-3ASR (1), S-4 (1), S-4/A (1), SCHEDULE 13D/A (1)

  • Latest filingsAnnual report (10-K) Mar 5, 2026
    Quarterly report (10-Q) Aug 6, 2026
    Proxy statement (DEF 14A) Apr 24, 2026
    Latest 8-K (8-K) Sep 25, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $0.001 par value per shareNXTCNasdaq Global Select Market

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

Risk factors and legal proceedings

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

  • Risks Related to Our Financial Position and Need for Additional Capital
  • We have a limited operating history and no products approved for commercial sale. We have a history of significant losses, expect to continue to incur significant losses for the foreseeable future and may never achieve or maintain profitability.
  • We have never generated revenue from product sales and may never be profitable.
  • We will require substantial additional financing to pursue our business objectives, which may not be available on acceptable terms, or at all. A failure to obtain this necessary capital when needed could force us to delay, limit, reduce or terminate our product development, commercialization efforts or other operations.
  • Risks Related to the Discovery and Development of Our Product Candidates
  • As an organization, we have limited experience designing and implementing clinical trials, and we have never conducted pivotal clinical trials. Failure to adequately design a trial, or incorrect assumptions about the design of the trial, could adversely affect the ability to initiate the trial, enroll patients, complete the trial, or obtain regulatory approval on the basis of the trial results, as well as lead to increased or unexpected costs and in delayed timelines.
  • Our business is dependent on our ability to advance our current and future product candidates through clinical trials, obtain marketing approval and ultimately commercialize them.
  • The regulatory approval processes of the FDA and comparable foreign authorities are lengthy, time-consuming and inherently unpredictable, and if we are ultimately unable to obtain regulatory approval for our product candidates, our business will be materially harmed.
  • Clinical development involves a lengthy and expensive process with uncertain outcomes. We may incur additional costs and experience delays in developing and commercializing or be unable to develop or commercialize our current and future product candidates.
  • Preclinical development is uncertain. Our preclinical programs may experience delays or may never advance to clinical trials, which would adversely affect our ability to obtain regulatory approvals or commercialize these programs on a timely basis or at all.
  • Interim and preliminary results 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, validation and verification procedures that could result in material changes in the final data.
  • Because the numbers of subjects in our Phase 1/2 and Phase 1 clinical trials are small, the results from each of these trials, once completed, may be less reliable than results achieved in larger clinical trials.
The other 61 risks
  • Our approach to the discovery and development of product candidates using our FIND platform is unproven and may not result in marketable products.
  • Our current or future product candidates may cause undesirable side effects or adverse events, including death, or have other properties when used alone or in combination with other approved products or investigational new drugs that could halt their clinical development, delay or prevent their regulatory approval, limit their commercial potential or result in significant negative consequences.
  • If there are difficulties enrolling patients in our clinical trials, our clinical development activities could be delayed or otherwise be adversely affected.
  • We may be required to suspend, repeat or terminate our clinical trials if they are not conducted in accordance with regulatory requirements, the results are negative or inconclusive or the trials are not well designed.
  • We have chosen to prioritize development of SIM0505 and LNCB74. We may expend our limited resources on product candidates or indications that do not yield a successful product and fail to capitalize on other candidates or indications for which there may be a greater likelihood of success or may be more profitable.
  • We may need to develop, or enter into a collaboration or partnership to develop, complementary or companion diagnostics for our current or future product candidates. If we, or our future collaborators, are unable to successfully develop complementary or companion diagnostics, or experience significant delays in doing so, we may not realize the full commercial potential of our current or future product candidates.
  • Risks Related to the Regulatory Approval and Commercialization of Product Candidates and Other Legal Compliance Matters
  • We may be unable to obtain FDA approval of our product candidates under applicable regulatory requirements. The denial or delay of any such approval would prevent or delay commercialization of our product candidates and adversely impact our potential to generate revenue, our business and our results of operations.
  • Even if a current or future product candidate 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.
  • The market opportunities for any current or future product candidate we develop, if approved, may be limited to those patients who are ineligible for established therapies or for whom prior therapies have failed, and may be small.
  • We may study SIM0505 and LNCB74 in combination with other therapies and future product candidates in combination with other therapies, which exposes us to additional regulatory risks.
  • Even if we receive marketing approval of a product candidate, we will be subject to ongoing regulatory obligations and continued regulatory review, which may result in significant additional expense. If we fail to comply or experience unanticipated problems with our products, we may be subject to administrative and judicial enforcement, including monetary penalties, for non-compliance and our approved products, if any, could be deemed misbranded or adulterated and prohibited from continued distribution.
  • Obtaining and maintaining marketing approval of our current and future product candidates in one jurisdiction does not mean that we will be successful in obtaining and maintaining marketing approval of our current and future product candidates in other jurisdictions.
  • We depend on data and our information technology systems, and any failure of these systems could harm our business. Security breaches, loss of data, and other disruptions could compromise sensitive information related to our business or prevent us from accessing critical information and expose us to liability, which could adversely affect our business, results of operations and financial condition.
  • The successful commercialization of our product candidates will depend in part on the extent to which third-party payors, including governmental authorities and private health insurers, provide coverage and adequate reimbursement levels, as well as implement pricing policies favorable for our product candidates. Failure to obtain or maintain coverage and adequate reimbursement for our product candidates, if approved, could limit our ability to market those products and decrease our ability to generate revenue.
  • Enacted healthcare legislation, changes in healthcare law and implementation of regulations, as well as changes in healthcare policy, may increase the difficulty and cost for us to commercialize our product candidates, may impact our business in ways that we cannot currently predict, could affect the prices we may set, and could have a material adverse effect on our business and financial condition.
  • The pharmaceutical industry is subject to extensive regulatory obligations and policies that may be subject to significant and abrupt change, including due to judicial challenges, election cycles, and resulting regulatory updates and changes in policy priorities.
  • Our relationships with customers, third-party payors and others may be subject to applicable anti-kickback, fraud and abuse and other healthcare laws and regulations, which could expose us to criminal sanctions, civil penalties, contractual damages, reputational harm, administrative burdens and diminished profits and future earnings.
  • We are subject to certain U.S. and foreign anti-corruption, anti-money laundering, export control, sanctions and other trade laws and regulations. We can face serious consequences for violations.
  • 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 Manufacturing
  • Given our limited operating history, our manufacturing experience as an organization and with our manufacturing facility is limited, particularly following a recent restructuring that paused manufacturing operations.
  • We may be unable to successfully scale-up manufacturing of our product candidates in sufficient quality and quantity, which would delay or prevent us from developing and, if approved, commercializing our product candidates.
  • The loss of our third-party manufacturing partners or our, or our partners’, failure to comply with applicable regulatory requirements or to supply sufficient quantities at acceptable quality levels or prices, or at all, would materially and adversely affect our business.
  • We are subject to multiple manufacturing risks, any of which could substantially increase our costs and limit supply of our product candidates.
  • We depend on third-party suppliers for key materials used in our manufacturing processes, and the loss of these third-party suppliers or their inability to supply us with adequate materials, or rising prices due to inflation, could harm our business.
  • Changes in methods of product candidate manufacturing or formulation may result in additional costs or delay.
  • Risks Related to Intellectual Property
  • We have filed patent applications for our product candidates, but no patent has yet issued from these applications. If we are unable to obtain and maintain patent protection for our product candidates, or if the scope of the patent protection obtained is not sufficiently broad or robust, our competitors could develop and commercialize products similar or identical to ours, and our ability to successfully commercialize our product candidates may be adversely affected.
  • We are party to a license agreement with Yale University under which we acquired rights to intellectual property related to certain of our product candidates. If we breach our obligations under this agreement, the agreement could be terminated, which would adversely affect our business and prospects.
  • Our intellectual property agreements with third parties may be subject to disagreements over contract interpretation, which could narrow the scope of our rights to the relevant intellectual property or technology or increase our financial or other obligations to our licensors.
  • Obtaining and maintaining our patent protection depends on compliance with various procedural, document submission, fee payment and other requirements imposed by government patent agencies, and our patent protection could be reduced or eliminated for non-compliance with these requirements.
  • We may not be able to protect our intellectual property rights throughout the world.
  • Changes in patent law could diminish the value of patents in general, thereby impairing our ability to protect our product candidates.
  • We may become involved in lawsuits to protect or enforce our intellectual property, which could be expensive, time-consuming and unsuccessful.
  • Issued patents covering our product candidates could be found invalid or unenforceable if challenged in court. We may not be able to protect our trade secrets in court.
  • 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 and financial condition.
  • Others may claim an ownership interest in our intellectual property and our product candidates, which could expose us to litigation and have a significant adverse effect on our prospects.
  • If we are unable to protect the confidentiality of our proprietary information, the value of our technology and products could be adversely affected.
  • We may be subject to claims asserting that our employees, consultants or advisors have wrongfully used or disclosed alleged trade secrets of their current or 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.
  • Intellectual property rights do not necessarily address all potential threats.
  • Risks Related to Reliance on Third Parties
  • We rely or will rely on third parties to help conduct our ongoing and planned preclinical studies and clinical trials for SIM0505, LNCB74 and any future product candidates we develop. If these third parties do not successfully carry out their contractual duties, comply with regulatory requirements or meet expected deadlines, we may not be able to obtain marketing approval for or commercialize SIM0505, LNCB74 and any future product candidates we develop, and our business could be materially harmed.
  • We may seek to establish additional collaborations and, if we are not able to establish them on commercially reasonable terms, we may have to alter our development and commercialization plans.
  • Risks Related to Our Business
  • There is substantial doubt as to our ability to continue as a going concern, which may affect our ability to obtain future financing and may require us to curtail or cease our operations. We will require substantial additional funding in the immediate term to continue operations as planned.
  • We are highly dependent on our key personnel, and if we are not successful in attracting, motivating and retaining highly qualified personnel, we may not be able to successfully implement our business strategy.
  • We face significant competition from other biotechnology and pharmaceutical companies, and our operating results will suffer if we fail to compete effectively.
  • We may need to grow the size of our organization, and we may experience difficulties in managing future growth.
  • If we are unable to establish marketing, sales and distribution capabilities for SIM0505, LNCB74 or any other product candidate that may receive regulatory approval, we may not be successful in commercializing those product candidates if and when they are approved.
  • Product liability lawsuits against us could cause us to incur substantial liabilities and to limit commercialization of our product candidates.
  • Our disclosure controls and procedures may not prevent or detect all errors or acts of fraud.
  • Our ability to use our net operating loss carryforwards to offset future taxable income may be subject to certain limitations.
  • Natural disasters or other unexpected events may disrupt our operations, adversely affect our results of operations and financial condition, and may not be covered by insurance.
  • Risks Related to Our Common Stock
  • The price of our common stock has been and may continue to be volatile and fluctuate substantially.
  • If securities analysts do not publish research or reports about our business or if they publish inaccurate or unfavorable research about our business, the price of our stock could decline.
  • Sales of a substantial number of shares of our common stock in the public market could cause our stock price to fall, even if our business is doing well.
  • Our executive officers, directors and current beneficial owners of 5% or more of our common stock and their respective affiliates exercise significant influence over our company, which limits your ability to influence corporate matters and could delay or prevent a change in corporate control.
  • We had and may in the future be subject to securities litigation, which can be expensive and could divert management’s attention.
  • Anti-takeover provisions in our charter documents and under Delaware law could make an acquisition of us, which may be beneficial to our stockholders, more difficult and may prevent attempts by our stockholders to replace or remove our current management.
  • If we fail to maintain proper and effective internal control over financial reporting, our ability to produce accurate and timely financial statements could be impaired, investors may lose confidence in our financial reporting and the trading price of our common stock may decline.
  • We do not intend to pay dividends on our common stock, so any returns will be limited to the value of our stock.
  • We have incurred and will continue to incur significantly increased costs as a result of operating as a public company, and our management will be required to devote substantial time to new compliance initiatives.
  • Our amended and restated bylaws designate the Court of Chancery of the State of Delaware or the United States District Court for the District of Delaware as the exclusive forum for certain types of actions and proceedings that may be initiated by our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers or employees.

Legal proceedings

The information set forth under the heading “Legal Proceedings” in Note 10, Commitments and Contingencies, in Notes to Financial Statements in Part II Item 8 of this Annual Report, is incorporated herein by reference.

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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  36. 36
    SEC EDGAROther events
  37. 37
  38. 38
  39. 39
  40. 40
  41. 41
  42. 42
  43. 43
  44. 44
  45. 45
    SEC EDGAROther events
  46. 46
  47. 47
  48. 48
  49. 49
  50. 50
  51. 51
  52. 52
  53. 53
  54. 54
  55. 55
  56. 56
  57. 57
  58. 58
  59. 59
  60. 60
  61. 61
  62. 62
  63. 63
  64. 64
  65. 65
  66. 66