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TENX on Nasdaq

TENAX THERAPEUTICS, INC.

TENAX THERAPEUTICS, INC. is an American pharmaceutical preparations company based in Chapel Hill.2 Its shares trade on Nasdaq under the symbol TENX.2

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Last updated Oct 21, 2026.

Overview

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  • TickerTENX on Nasdaq2
  • IndustryPharmaceutical Preparations2
  • HeadquartersMorrisville, United States2
  • Incorporated inDE3
  • Business address101 Glen Lennox Drive, Suite 300, Chapel Hill, Nc 275173
  • Filer categoryNon-accelerated filer, Smaller reporting company3
  • Legal formCorporation2
  • LEI549300J03O6B1IJ2B6062
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered addressC/O CORPORATION SERVICE COMPANY, 19808 Wilmington, United States2
  • Registered withDivision of Corporations, Department of State, 45307922

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Financials

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

Key numbers, fiscal 2025

-54.2%Return on equity4

Financial statements

Revenue54$0 in 2025
02024: $0$020242025: $0$02025
Operating income678954-$56.4M in 2025+559% since 2019
-$60.0M-$40.0M-$20.0M0$20.0M2019: -$8.6M-$8.6M20192020: $9.9M$9.9M20202021: -$32.7M-$32.7M20212022: $11.1M$11.1M20222023: -$8.2M-$8.2M20232024: -$19.5M-$19.5M2024+137%2025: -$56.4M-$56.4M2025+189%
Net income678954-$52.6M in 2025+527% since 2019
-$60.0M-$40.0M-$20.0M0$20.0M2019: -$8.4M-$8.4M20192020: -$9.9M-$9.9M2020+17%2021: -$32.5M-$32.5M2021+230%2022: $11.0M$11.0M20222023: -$7.7M-$7.7M20232024: -$17.6M-$17.6M2024+128%2025: -$52.6M-$52.6M2025+199%

Every line of the income statement as filed: the last 2 fiscal years, latest first.4

Period ending2025-12-312024-12-31
Research and development$32.7M$12.7M
General and administrative$23.7M$6.8M
Total operating expenses$56.4M$19.5M
Net operating loss-$56.4M-$19.5M
Interest income$3.8M$1.9M
Interest expense$0-$23.0K
Other (expense) income, net-$33.0K$1.0K
Net loss-$52.6M-$17.6M
Net loss per share, basic-$1.34-$1.15
Net loss per share, diluted-$1.34-$1.15
Weighted average number of common shares and prefunded warrants outstanding, basic39.2M shares15.3M shares
Weighted average number of common shares and prefunded warrants outstanding, diluted39.2M shares15.3M shares

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Corporate structure

TENAX THERAPEUTICS, 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 TENAX THERAPEUTICS, INC.

  • MILLENNIUM MANAGEMENT LLC Filed SCHEDULE 13G/A on TENAX THERAPEUTICS, INC., latest Oct 15, 2026 (4 filings since May 20, 2026)
  • SPHERA FUNDS MANAGEMENT LTD. Filed SCHEDULE 13G/A on TENAX THERAPEUTICS, INC., latest Oct 13, 2026 (2 filings since Aug 27, 2026)
  • Dellora Investments LP Filed SCHEDULE 13G/A on TENAX THERAPEUTICS, INC., latest Oct 9, 2026 (6 filings since Dec 5, 2024)
  • ING Group Filed SCHEDULE 13G/A on TENAX THERAPEUTICS, INC., latest Sep 11, 2026 (2 filings since Aug 27, 2026)
  • ADAR1 Capital Management, LLC Filed SCHEDULE 13G on TENAX THERAPEUTICS, INC., latest Sep 8, 2026
  • FMR LLC Filed SCHEDULE 13G/A on TENAX THERAPEUTICS, INC., latest Sep 8, 2026 (2 filings since Jul 8, 2026)
  • BIOTECHNOLOGY VALUE FUND L P Filed SCHEDULE 13G/A on TENAX THERAPEUTICS, INC., latest Aug 14, 2026 (4 filings since Aug 19, 2024)
  • Ikarian Capital, LLC Filed SCHEDULE 13G/A on TENAX THERAPEUTICS, INC., latest Aug 14, 2026 (4 filings since Oct 7, 2025)
  • PERCEPTIVE ADVISORS LLC Filed SCHEDULE 13G/A on TENAX THERAPEUTICS, INC., latest Aug 14, 2026 (4 filings since Dec 23, 2025)
  • RTW INVESTMENTS, LP Filed SCHEDULE 13G/A on TENAX THERAPEUTICS, INC., latest Aug 14, 2026 (4 filings since May 15, 2025)
  • Venrock Healthcare Capital Partners III, L.P. Filed SCHEDULE 13G/A on TENAX THERAPEUTICS, INC., latest Aug 14, 2026 (7 filings since Aug 19, 2024)
  • Vivo Opportunity Fund Holdings, L.P. Filed SCHEDULE 13G/A on TENAX THERAPEUTICS, INC., latest Aug 14, 2026 (2 filings since Aug 14, 2024)
  • TENAX THERAPEUTICS, INC. Morrisville, North Carolina, 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 TENAX THERAPEUTICS, 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$97.6M4 Dec 31, 2025$94.9M4 Dec 31, 2024+2.8%

Properties, in its own words

We own no real property. Beginning November 1, 2022, we maintain a membership providing dedicated office space, as well as shared services and shared space for meetings, catering, and other business activities, at our principal executive office located at 101 Glen Lennox Drive, Suite 300, Chapel Hill, North Carolina 27517.

Item 2 of the 10-K filed Mar 10, 2026.12

Leadership

Who has led TENAX THERAPEUTICS, INC., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Christian J. Stern2010–2011
  2. John P. Kelley2013–2017
  3. Michael B. Jebsen2017
  4. Anthony A. Ditonno2019–2021

Chair

  1. Christian J. Stern2010

President

  1. Richard M. Kiral2010
  2. Michael B. Jebsen2012–2017

Chief financial officer

  1. Michael B. Jebsen2010–2021
  2. Eliot M. Lurier2021
  3. Lawrence R. Hoffman2024
  4. Thomas McGauley2024–2026
  5. Thomas R. Staab Ii.2026–now

Chief operating officer

  1. Richard M. Kiral2010
201520202025
Board members and other officers (24)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • President and Chief Executive OfficerChristopher T. Giordano named Jun 1, 2022 to Aug 23, 202447
  • DirectorKeith T. Maher named Jun 1, 202248

Former names

  • OXYGEN BIOTHERAPEUTICS, INC.Jul 30, 2008 to Sep 15, 20143
  • SYNTHETIC BLOOD INTERNATIONAL INCAug 2, 1996 to Jun 30, 20083

Timeline

  1. Oct 8, 20268-K Other events49
  2. Sep 9, 20268-K Regulation FD disclosure50
  3. Aug 10, 20268-K Other events51
  4. Jul 31, 20268-K Results of operations52
  5. Jul 2, 20268-K Other events53
  6. Jun 30, 20268-K Entered a material agreement54
  7. Jun 29, 20268-K Executive or director change; Other events55
  8. Jun 4, 20268-K Shareholder vote56
  9. May 12, 20268-K Results of operations57
  10. Apr 22, 20268-K Executive or director change; Other events58
  11. Mar 10, 20268-K Results of operations59
  12. Jan 9, 20268-K Executive or director change60
  13. Apr 22, 2019New chief executive Anthony A. Ditonno becomes CEO13
  14. Apr 5, 2017New chief executive Michael B. Jebsen becomes CEO14
  15. Nov 15, 2013New chief executive John P. Kelley becomes CEO15
  16. Jan 22, 2010New chief executive Christian J. Stern becomes CEO16
  17. Apr 17, 2008Founded TENAX THERAPEUTICS, INC. is founded2

Calendar

Coming up

  1. Nov 11, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($0.40) a share, on Nov 12, 2025.61

When it reported results

  1. Jul 31, 2026Reported quarterly or annual results52
  2. May 12, 2026Reported quarterly or annual results57
  3. Mar 10, 2026Reported quarterly or annual results59
  4. Nov 12, 2025Reported quarterly or annual results62
  5. Aug 13, 2025Reported quarterly or annual results63
  6. May 14, 2025Reported quarterly or annual results64
  7. Mar 25, 2025Reported quarterly or annual results65
  8. Nov 13, 2024Reported quarterly or annual results66

Drug trials and FDA: recently

  1. Jun 30, 2026Phase 3 trial completed Phase 3 trial of TNX-103 in Pulmonary Hypertension: primary completion Jun 30, 2026, no results posted yet (ClinicalTrials.gov NCT05983250).67
  2. Apr 25, 2023Phase 2 trial completed Phase 2 trial of Levosimendan in Hypertension Pulmonary Secondary Heart Failure: primary completion Apr 25, 2023, results posted Apr 22, 2026 (ClinicalTrials.gov NCT03624010).68

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

333 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 69 major events, 60 insider forms, 96 large holders, 2 private raises, 86 other. The latest 20:

  1. Oct 15, 2026SCHEDULE 13G/A EDGAR
  2. Oct 13, 2026SCHEDULE 13G/A EDGAR
  3. Oct 9, 2026SCHEDULE 13G/A EDGAR
  4. Oct 8, 20268-K EDGAR
  5. Sep 17, 20264 EDGAR
  6. Sep 15, 20264 PRIMARY DOCUMENT EDGAR
  7. Sep 15, 20264 EDGAR
  8. Sep 11, 2026SCHEDULE 13G/A EDGAR
  9. Sep 9, 20268-K EDGAR
  10. Sep 8, 20264 PRIMARY DOCUMENT EDGAR
  11. Sep 8, 2026SCHEDULE 13G EDGAR
  12. Sep 8, 2026SCHEDULE 13G/A EDGAR
  13. Sep 2, 20264 PRIMARY DOCUMENT EDGAR
  14. Aug 27, 2026SCHEDULE 13G EDGAR
  15. Aug 27, 2026SCHEDULE 13G EDGAR
  16. Aug 24, 20264 PRIMARY DOCUMENT EDGAR
  17. Aug 24, 20263 PRIMARY DOCUMENT EDGAR
  18. Aug 18, 2026SCHEDULE 13G EDGAR
  19. Aug 14, 2026SCHEDULE 13G/A EDGAR
  20. Aug 14, 2026SCHEDULE 13G/A EDGAR

The 333 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

26 open-market trades by officers, directors and large owners since October 2021: 26 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 16, 2026Doogan DeclanDirectorBuy53,000$1.92$101.8KForm 4
Sep 15, 2026Giordano Christopher ThomasCEOBuy4,850$1.82$8.8KForm 4
Sep 11, 2026Giordano Christopher ThomasCEOBuy6,000$1.88$11.3KForm 4
Sep 11, 2026STAAB THOMAS R IIChief Financial OfficerBuy5,675$1.94$11.0KForm 4
Sep 3, 2026ADAR1 Capital Management, LLC10% ownerBuy900,000$1.78$1.6MForm 4
Sep 2, 2026Schneeberger Daniel10% ownerBuy187,704$1.80$337.9KForm 4
Sep 1, 2026Schneeberger Daniel10% ownerBuy179,058$1.80$322.3KForm 4
Aug 31, 2026Schneeberger Daniel10% ownerBuy403,571$1.79$722.4KForm 4
Aug 24, 2026Schneeberger Daniel10% ownerBuy107,374$1.75$187.9KForm 4
Aug 21, 2026Schneeberger Daniel10% ownerBuy716,369$1.77$1.3MForm 4
Aug 20, 2026Schneeberger Daniel10% ownerBuy202,124$1.78$359.8KForm 4
Dec 9, 2025Rich StuartChief Medical OfficerBuy2,500$10.22$25.6KForm 4
Dec 8, 2025Rich StuartChief Medical OfficerBuy2,500$10.10$25.2KForm 4
Dec 4, 2025Rich StuartChief Medical OfficerBuy2,500$9.20$23.0KForm 4
Dec 3, 2025Rich StuartChief Medical OfficerBuy1,500$9.08$13.6KForm 4
Dec 2, 2025Rich StuartChief Medical OfficerBuy1,000$9.01$9.0KForm 4
Nov 20, 2025Giordano Christopher ThomasCEOBuy538$7.59$4.1KForm 4
Nov 19, 2025Giordano Christopher ThomasCEOBuy455$7.51$3.4KForm 4
Nov 18, 2025Giordano Christopher ThomasCEOBuy1,612$7.75$12.5KForm 4
Nov 18, 2025Almenoff June SherieDirectorBuy1,900$7.52$14.3KForm 4

All 26 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.

All 32 holders

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
2025Christopher T. Giordano52$563.7K$8.1M101
2025Stuart Rich76$322.7K$3.7M101
2025Thomas A. McGauley$475.5K$475.5K101
2024President and Chief Executive Officer$495.7K$7.4M101
2024Chief Medical Officer$287.8K$3.1M101
2024Interim Chief Financial Officer$37.2K$37.2K101

Funding

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

Money received by year$107.9M 2020–2024
Money received by yearMoney received by year, 2020–2024: $107.9M in all. Private raises (Form D) $107.7M; PPP loans $244.7K.$0$25M$50M$75M$100M2020 · PPP loans: $244.7K202020212022 · Private raises (Form D): $8.0M202220232024 · Private raises (Form D): $99.7M2024
Figures by year
YearPrivate raises (Form D)PPP loansTotal
2024$99.7M–$99.7M
2022$8.0M–$8.0M
2020–$244.7K$244.7K

Private raises

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

  1. Aug 8, 2024Raised $99.7 million in a private offering of equity47 Form D: $175 million offered in all Form D
  2. May 17, 2022Raised $8 million in a private offering of securities48 Form D: 1 investor so far Form D

PPP loans

Paycheck Protection Program loans of $150,000 and up, approved April 2020 to July 2021, from the SBA102. Matched to this company by name and state.

  1. Apr 28, 2020$244.7K PPP loan (first draw) from First Horizon Bank102To TENAX THERAPEUTICS, INC, Morrisville NC; $247.2K forgiven May 21, 2021

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 LLC3,942,373$57.4M0.0%+3,619,773
Vivo Capital, LLC2,500,000$36.4M3.3%+2,291,667
BlackRock, Inc.1,727,988$25.1M0.0%+1,711,011
Perceptive Advisors LLC1,700,000$24.7M0.4%+252,218
Vanguard Capital Management LLC1,147,121$16.7M0.0%+883,700
Millennium Management LLC876,230$12.7M0.0%+342,341
Ikarian Capital, LLC787,600$11.5M1.9%−230,000
Candriam S.C.A.749,588$10.9M0.0%New
Citadel Advisors LLC728,561$10.6M0.0%+576,045
Rtw Investments, LP696,570$10.1M0.1%+326,324
Stonepine Capital Management, LLC660,000$9.6M7.3%−315,200
Geode Capital Management, LLC639,537$9.3M0.0%+570,377
Marshall Wace, Llp585,578$8.5M0.0%+233,006
Braidwell LP584,412$8.5M0.3%New
Point72 Asset Management, L.P.556,761$8.1M0.0%+22,796
Velan Capital Investment Management LP549,985$8.0M4.9%−33,348
Adage Capital Partners Gp, L.l.c.540,126$7.9M0.0%No change
Woodline Partners LP531,254$7.7M0.0%+207,343
State Street Corp510,814$7.4M0.0%+481,824
Sofinnova Investments, Inc.500,039$7.3M0.4%+395,639
Jupiter Topco LLC451,226$6.6M0.0%New
Morgan Stanley432,220$6.3M0.0%−164,344
Qube Research & Technologies Ltd429,893$6.3M0.0%+401,608
Siren, L.L.C.427,141$6.2M0.1%No change
Two Sigma Investments, LP353,390$5.1M0.0%+284,802

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

SEC filer profile

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

  • Name on EDGARTENAX THERAPEUTICS, INC.1
  • CIK0000034956
  • Employer ID (EIN)26-259353512
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company12
  • Incorporated inDelaware12
  • Fiscal year endsDecember 311
  • Industry code (SIC)2834 Pharmaceutical Preparations1
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance1
  • Business address101 Glen Lennox Drive, Suite 300, Chapel Hill, NC 275171
  • Phone919-855-21001
  • Shares outstanding37,423,917 as of Jul 28, 202611
  • Public float$23.8M as of Jun 30, 202512
  • AuditorCherry Bekaert LLP, Raleigh, North Carolina PCAOB ID 677; no auditor attestation of internal control over financial reporting12
  • On EDGAR sinceAug 2, 19961
  • Filings991 in all: 8-K (205), 4 (169), 10-Q (87), 424B3 (77), SCHEDULE 13G/A (48), 3 (30), CORRESP (30), SC 13G/A (28)1
    All 54 form types

    10-K (25), SC 13G (24), UPLOAD (23), DEF 14A (22), EFFECT (21), SCHEDULE 13G (18), NT 10-Q (14), S-3 (13), 8-K/A (12), PRE 14A (12), SC 13D/A (12), D (11), S-1/A (10), S-8 (10), 424B5 (8), DEFA14A (8), NT 10-K (7), S-1 (6), 10-K405 (5), POS AM (5), 10QSB (4), ARS (4), SC 13D (4), 10-K/A (3), 4/A (3), 424B4 (3), 5 (3), REGDEX (3), S-2 (3), FWP (2), PRER14A (2), S-3/A (2), SEC STAFF LETTER (2), 10-KT (1), 10-Q/A (1), 10KSB (1), 424B1 (1), 8-A12B (1), CERTNAS (1), CT ORDER (1), NTN 10K (1), REGDEX/A (1), RW (1), S-1MEF (1), SCHEDULE 13D (1), SCHEDULE 13D/A (1)

  • Latest filingsAnnual report (10-K) Mar 10, 2026
    Quarterly report (10-Q) Jul 31, 2026
    Proxy statement (DEF 14A) Apr 22, 2026
    Latest 8-K (8-K) Oct 8, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $0.0001 par value per shareTENXNasdaq

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

Risk factors and legal proceedings

The risks TENAX THERAPEUTICS, INC. names in Item 1A of its 10-K filed Mar 10, 2026: 34 risks under these headings, as written.12

  • Risks Related to Our Business and Our Operations
  • We are limited in the number of products we can simultaneously pursue and therefore our survival depends on our success with a small number of product opportunities.
  • We currently have no approved drug products for sale, and we cannot guarantee that we will ever have marketable drug products.
  • Delays in the enrollment and completion of clinical testing could result in increased costs to us and delay or limit our ability to obtain regulatory approval for our product candidates.
  • We are conducting two Phase 3 clinical trials, LEVEL and LEVEL-2 for oral levosimendan, which are expensive and time consuming, and the outcome of the clinical trials is uncertain.
  • The market may not accept our products.
  • Nonfinal results from our clinical trials announced or published from time to time on an interim, top-line, or preliminary basis, and conclusions that may be drawn from such results, may change as more patient data become available, and these results are subject to audit and verification procedures that could result in material changes in the final data.
  • Any collaboration we enter with third parties to develop and commercialize any future product candidates may place the development of our product candidates outside our control, may require us to relinquish important rights or may otherwise be on terms unfavorable to us.
  • Risks Related to Our Financial Position and Need for Additional Capital
  • We may be required to make milestone and royalty payments to the licensor of the levosimendan intellectual property in connection with the development and commercialization of levosimendan, which could adversely affect the profitability of levosimendan, if approved.
  • We expect a number of factors to cause our operating results to fluctuate on a quarterly and annual basis, which may make it difficult to predict our future performance.
  • We have incurred losses since our inception, expect to continue to incur losses in the foreseeable future, and may never become profitable.
The other 24 risks
  • Risks Relating to Our Industry
  • Intense competition might render our cardiovascular and pulmonary product candidates noncompetitive or obsolete.
  • Our activities are and will continue to be subject to extensive government regulation, which is difficult to predict, expensive and time-consuming, and we will not be able to sell our products without regulatory approval.
  • Product approval stage
  • Post-commercialization stage
  • We may not receive all of the anticipated market exclusivity benefits of imatinib’s orphan drug designation, if we prioritize imatinib development in the future.
  • Even after products are commercialized, we would expect to spend considerable time and money complying with federal, state, and foreign laws and regulations governing their sale, and, if we are unable to fully comply with such laws and regulations, we could face substantial penalties.
  • We are subject to uncertainty relating to healthcare reform measures and reimbursement policies that, if not favorable to our products, could hinder or prevent our products’ commercial success, if any of our product candidates are approved.
  • Governments outside the United States tend to impose strict price controls and reimbursement approval policies, which may adversely affect our prospects for generating revenue outside the United States.
  • Product liability lawsuits against us could cause us to incur substantial liabilities, limit sales of our existing products and limit commercialization of any products that we may develop.
  • Our business and operations would suffer in the event of computer system failures, cyber-attacks or deficiencies in our cybersecurity.
  • Risks Related to Our Dependence on Third Parties
  • We have historically relied on and we will continue to substantially rely on third parties to conduct our nonclinical testing and clinical studies and other aspects of our development programs. If those third parties do not satisfactorily perform their contractual obligations or meet anticipated deadlines, the development of our product candidates could be adversely affected.
  • We depend on third parties to formulate and manufacture our products.
  • If we fail to attract and retain senior management and key scientific personnel, we may be unable to successfully develop and commercialize our product candidates.
  • We expect to need to increase the size of our organization to further develop our product candidates, and we may experience difficulties in managing growth.
  • We currently have very limited marketing capabilities and no sales organization. If we are unable to establish sales and marketing capabilities on our own or through third parties, we will be unable to successfully commercialize our products, if approved, or generate product revenue.
  • Risks Related to Intellectual Property
  • Our success will depend in part on obtaining and maintaining effective patent and other intellectual property protection for our product candidates and proprietary technology.
  • We rely on confidentiality agreements that, if breached, may be difficult to enforce and could have a material adverse effect on our business and competitive position.
  • We may incur substantial costs as a result of litigation or other proceedings relating to patent and other intellectual property rights and we may be unable to protect our rights to, or use, our technology.
  • Under current law, we may not be able to enforce all employees’ covenants not to compete and therefore may be unable to prevent our competitors from benefiting from the expertise of some of our former employees.
  • We may infringe or be alleged to infringe intellectual property rights of third parties.
  • Risks Related to Owning Our Common Stock
  • Our share price has been volatile, and may continue to be volatile, which may subject us to securities class action litigation in the future.
  • Investors may experience dilution of their ownership interests because of the future issuance of additional shares of our common stock or securities convertible into common stock.
  • Anti-takeover provisions in our corporate charter documents and under Delaware law could make an acquisition of us more difficult, which could discourage takeover attempts and lead to management entrenchment, and the market price of our common stock may be lower as a result.
  • Our Bylaws contain an exclusive forum provision, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers, employees, or agents.
  • We have not paid cash dividends in the past and do not expect to pay dividends in the future. Any return on investment may be limited to the value of our common stock.
  • Our ability to use our net operating loss carryforwards and certain other tax attributes to offset future taxable income may be subject to certain limitations.

Legal proceedings

We are subject to litigation in the normal course of business, none of which management believes will have a material adverse effect on our consolidated financial statements.

The opening of Item 3, Legal Proceedings.12

Sources

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  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