20 unchanged sentences
Prior to our IPO in June 2021, we were a private company with limited accounting and finance personnel, adequate review processes and other resources with which to address our internal controls and procedures.
−Removed: Based on the evaluation of our internal controls, we concluded that our disclosure controls and procedures were not effective as of March 31, 2022 as a result of a material weakness in our internal control over financial reporting due to inadequate segregation of duties resulting from the size of our Company and our limited personnel.
+Added: Based on the evaluation of our internal controls, we concluded that our disclosure controls and procedures were not effective as of June 30, 2022 as a result of a material weakness in our internal control over financial reporting due to inadequate segregation of duties resulting from the size of our company and our limited personnel.
A “material weakness” is a deficiency, or a combination of deficiencies, in internal control over financial reporting such that there is a reasonable possibility that a material misstatement of our annual or interim financial statements will not be prevented or detected on a timely basis.
5 unchanged sentences
We have incurred significant net losses in each period since our inception and anticipate that we will continue to incur net losses in for the foreseeable future and may never achieve or maintain profitability .
−Removed: We are not profitable and have incurred significant losses in each period since our inception, including net losses of $2.7 million for the three months ended March 31, 2022 and $12.7 million for the year ended December 31, 2021, and $4.6 million for the year ended December 31, 2020.
+Added: We are not profitable and have incurred significant losses in each period since our inception, including net losses of $5.3 million for the six months ended June 30, 2022, $12.7 million for the year ended December 31, 2021, and $4.6 million for the year ended December 31, 2020.
We have not commercialized any products and have never generated any revenue from product sales.
27 unchanged sentences
on attractive terms, we could be forced to delay, reduce or eliminate our research and development programs or any future commercialization efforts.
−Removed: As of March 31, 2022, we had approximately $11.1 million in cash.
In June 2021, we completed the IPO for net cash proceeds of $14.8 million after deducting underwriting discounts and commissions and offering expenses.
−Removed: We believe that, based upon our current estimates, our existing capital resources, will be sufficient to fund our anticipated operations for at least 12 months from the issuance of our financial statements for the period ended March 31, 2022.
+Added: As of June 30, 2022, we had approximately $9.1 million in cash.
+Added: We believe that, based upon our current estimates, our existing capital resources will be sufficient to fund our anticipated operations for at least 12 months from the issuance of our financial statements for the period ended June 30, 2022.
Our future capital requirements and the period for which we expect our existing resources to support our operations may vary significantly from what we expect.
223 unchanged sentences
For example, in 2018, President Trump and the Secretary of the U.S.
−Removed: Department of Health and Human Services ("HHS") released the "American Patients First Blueprint"
−Removed: and have begun implementing certain portions.
+Added: Department of Health and Human Services (“HHS”) released the “American Patients First Blueprint” and have begun implementing certain portions.
The initiative includes proposals to increase generic drug and
biosimilar competition, enable the Medicare program to negotiate drug prices more directly and improve transparency regarding drug prices and ways to lower consumers’ out-of-pocket costs.
−Removed: The Trump administration also proposed to establish an "international pricing index"
−Removed: that would be used as a benchmark to determine the costs and potentially limit the reimbursement of drugs under Medicare Part B.
+Added: The Trump administration also proposed to establish an “international pricing index” that would be used as a benchmark to determine the costs and potentially limit the reimbursement of drugs under Medicare Part B.
Among other pharmaceutical manufacturer industry-related proposals, Congress has proposed bills to change the Medicare Part D benefit to impose an inflation-based rebate in Medicare Part D and to alter the benefit structure to increase manufacturer contributions in the catastrophic phase.
234 unchanged sentences
Our largest stockholders will exercise significant influence over our company for the foreseeable future, including the outcome of matters requiring stockholder approval.
−Removed: Our officers, directors and their affiliates currently collectively own 2,396,201 shares of our common stock or approximately 23% of our outstanding shares of common stock.
+Added: As of June 30, 2022, our officers, directors and their affiliates collectively owned 2,396,201 shares of our common stock or approximately 23% of our outstanding shares of common stock.
Accordingly, if these stockholders were to choose to act together, they could have a significant influence over all matters requiring stockholder approval, including the election of directors and approval of significant corporate transactions, such as a merger or other sale of our company or all or a significant percentage of our assets.
120 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.