57 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 $8.5 million for the six months ended June 30, 2024 and $14.6 million for the year ended December 31, 2023.
+Added: We are not profitable and have incurred significant losses in each period since our inception, including net losses of $11.3 million for the nine months ended September 30, 2024 and $14.6 million for the year ended December 31, 2023.
We have not commercialized any products and have never generated any revenue from product sales.
24 unchanged sentences
If we are unable to raise capital when needed or 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 June 30, 2024, we had approximately $6.4 million in cash.
+Added: As of September 30, 2024, we had approximately $5.8 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.
2 unchanged sentences
In November 2023, we entered into a Sales Agreement and established an ATM Program, pursuant to which we may offer and sell, from time to time through A.G.P./Alliance Global Partners, as sales agent, shares of our common stock having an aggregate offering price of up to $17.0 million.
−Removed: As of the period ended June 30, 2024, we sold a total of 1,952,980 shares of our common stock under the ATM Program, at a weighted-average price of $3.78 per share, raising $7.4 million of gross proceeds and net proceeds of $7.0 million after deducting commissions to the sales agent and other ATM Program related expenses.
+Added: As of the period ended September 30, 2024, we sold a total of 2,692,190 shares of our common stock under the ATM Program, at a weighted-average price of $3.35 per share, raising $9.0 million of gross proceeds and net proceeds of $8.6 million after deducting commissions to the sales agent and other ATM Program related expenses.
There remains approximately $8.0 million available for future sales of shares of common stock under the Sales Agreement.
−Removed: We believe that, based upon our current operating plan, our existing capital resources will not be sufficient to fund our anticipated operations for at least 12 months from the issuance of our condensed financial statements for the period ended June 30, 2024.
+Added: We believe that, based upon our current operating plan, our existing capital resources will not be sufficient to fund our anticipated operations for at least 12 months from the issuance of our condensed interim financial statements for the period ended September 30, 2024.
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.
557 unchanged sentences
● significant lawsuits, including patent or stockholder litigation;
−Removed: ● general political and economic conditions, many of which are beyond our control, such as military conflict between Russia and Ukraine;
+Added: ● general political , economic and market conditions, many of which are beyond our control, such as military conflict between Russia and Ukraine as well as the conflict in the Middle East between Israel and Hamas ;
● other events or factors, many of which are beyond our control.
7 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 5,023,766 shares of our common stock (on an as-converted basis) or approximately 27% of our outstanding shares of common stock (on an as-converted basis) as of June 30, 2024.
+Added: Our officers, directors and their affiliates currently collectively own 5,105,432 shares of our common stock (on an as-converted basis) or approximately 26% of our outstanding shares of common stock (on an as-converted basis) as of September 30, 2024.
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.
212 unchanged sentences
UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
+Added: Note 6 to the condensed interim financial statements included in Item 1 of this Quarterly Report is incorporated by reference herein.
DEFAULTS UPON SENIOR SECURITIES
2 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.