What changed in this filing

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Item 1A. Risk Factors

2022-11-14 compared with 2022-08-15 · 44 added, 43 removed, 5 unchanged (95% of the section changed)

carefully consider the factors discussed below and the factors identified in Part I, “Item 1A.

Risk Factors” in

our Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC on March 31, 2022, and our subsequent filings

with the SEC, that could materially affect our business and financial condition and could cause results to differ materially from those expressed

in forward-looking statements contained in this Report or other reports filed with the SEC.

The risks described below and in the above

reports are not the only risks we face.

Additional risks and uncertainties not currently known to us or that we currently deem to be

immaterial also may materially adversely affect our business, financial condition and operating results.

Please also see

“Special Note Regarding Forward-Looking Statements” above.

Our business, financial condition and operating

results could be negatively affected as a result of actions by activist investors.

An activist stockholder (the “Activist”)

submitted a notice to our Board, purporting to nominate two nominees to our three-member Board at the 2022 Annual Meeting of Stockholders.

We informed the Activist that our Board determined its purported notice of nomination was invalid, as it did not comply with our Amended

and Restated Bylaws.

We initiated a lawsuit against the Activist, the Activist’s two nominees, and four additional individuals–all

of whom we believe to be acting as a group to attempt to effectuate a takeover of our Board without registering as a group pursuant to

securities laws and some of whom we believe have committed other unlawful actions.

The Activist subsequently sued us in the Court

of Chancery of the State of Delaware, seeking a declaratory judgment that the purported notice of nominations was valid and certain injunctive

If the Activist prevails in its lawsuit, we will be involved in a proxy contest for control of our Board, despite the deficiencies

in the Activist’s purported notice of nominations.

Even if we prevail in the Delaware litigation, the litigation and the campaign

by the Activist and those with whom the Activist is acting in concert against us has, and will have, likely diverted the time and energies

of management and required us to incur substantial expense, possibly causing a decrease in stockholder value.

A proxy contest and related litigation, along the

lines discussed above, could have a material adverse effect on us for the following reasons:

● Activist investors may attempt to effect changes in our governance and strategic direction or to acquire

control over the Board or AIM.

In particular, if the Activist is successful in its litigation and subsequent proxy contest, it may gain

control of the Board.

● While we welcome the opinions of all stockholders, responding to proxy contests and related litigation

by activist investors is likely to be costly and time-consuming, disrupt our operations, and potentially divert the attention of our Board,

management team and other employees away from their regular duties and the pursuit of business opportunities to enhance stockholder value.

● Perceived uncertainties as to our future direction of AIM as a result of potential changes to the composition

of the Board may lead to the perception of a change in the strategic direction of the business, instability or lack of continuity, which

may cause concern to our existing or potential strategic partners, customers, employees and stockholders;

Risk Factors” in our

Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC on March 31, 2022, and our subsequent filings with

the SEC, that could materially affect our business and financial condition and could cause results to differ materially from those

expressed in forward-looking statements contained in this Report or other reports filed with the SEC.

The risks described below

and in the above reports are not the only risks we face.

Additional risks and uncertainties not currently known to us or that we currently

deem to be immaterial also may materially adversely affect our business, financial condition and operating results.

Please also see “Special

Note Regarding Forward-Looking Statements” above.

business, financial condition and operating results could be negatively affected as a result of actions by activist investors.

activist stockholder (the “Activist”) submitted a notice to our Board, purporting to nominate two nominees to our three-member

Board at the 2022 Annual Meeting of Stockholders.

We informed the Activist that our Board determined its purported notice of nomination

was invalid, as it did not comply with our Amended and Restated Bylaws.

We initiated a lawsuit against the Activist, the Activist’s

two nominees, and four additional individuals–all of whom we believe to be acting as a group to attempt to effectuate a takeover

of our Board without registering as a group pursuant to U.S.

securities laws and some of whom we believe have committed other unlawful

The Activist subsequently sued AIM and each of our board members in the Court of Chancery of the State of Delaware, seeking

a declaratory judgment that the purported notice of nominations was valid and certain injunctive relief.

The Delaware Chancery Court

denied the Activist’s motion on October 28, 2022, and the Activist announced on November 2, 2022, that it did not intend to appeal

the decision.

Had the Activist prevailed in its lawsuit, we most likely would have been involved in a proxy contest for control of our

Board, despite the deficiencies in the Activist’s purported notice of nominations.

Even though we prevailed in the Delaware litigation,

the litigation and the campaign by the Activist and those with whom the Activist is acting in concert against us has, and will have,

likely diverted the time and energies of management and required us to incur substantial expense, possibly causing a decrease in stockholder

proxy contest and related litigation, along the lines discussed above, could have a material adverse effect on us for the following reasons:

investors may attempt to effect changes in our governance and strategic direction or to acquire control over the Board or AIM.

particular, if the Activist is successful in its litigation and subsequent proxy contest, it may gain control of the Board.

we welcome the opinions of all stockholders, responding to proxy contests and related litigation by activist investors is likely

to be costly and time-consuming, disrupt our operations, and potentially divert the attention of our Board, management team and other

employees away from their regular duties and the pursuit of business opportunities to enhance stockholder value.

uncertainties as to our future direction as a result of potential changes to the composition of the Board may lead to the perception

of a change in the strategic direction of the business, instability or lack of continuity, which may cause concern to our existing

or potential strategic partners, customers, employees and stockholders;

may be exploited by our competitors;

may result in the loss of potential business opportunities or limit our ability to timely initiate or advance clinical trials;

make it more difficult to attract and retain qualified personnel and business partners.

● Proxy contests and related litigation by activist investors

could cause significant fluctuations in our stock price based on temporary or speculative market perceptions or other factors that do

not necessarily reflect the underlying fundamentals and prospects of our business.

may result in the loss

of potential business opportunities or limit our ability to timely initiate or advance clinical trials;

and may make it more difficult

to attract and retain qualified personnel and business partners.

contests and related litigation by activist investors could cause significant fluctuations in our stock price based on temporary

or speculative market perceptions or other factors that do not necessarily reflect the underlying fundamentals and prospects of our

Unregistered Sales of Equity Securities and Use of Proceeds

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.

What changed 10-Q

Item 1A. Risk Factors