Item 3. Legal Proceedings
Item 3. Legal Proceedings
From time to time, we may be involved in legal
proceedings arising in the ordinary course of our business. We were recently involved in litigation with DUSA, in which DUSA has alleged
patent infringement, trade secret misappropriation, tortious interference with contractual relations and deceptive and unfair trade practices.
We entered into a settlement and release agreement with DUSA on November 29, 2021. See “ Risk Factors— Risks Related
to the License and Supply Agreements and Our Licensed Products— Third party claims of intellectual property infringement may affect
our ability to sell our licensed products and may also prevent or delay our Licensors’ product discovery and development efforts ”
for additional details regarding the history of litigation with DUSA and details of the settlement. Regardless
of outcome, litigation can have an adverse impact on us due to defense and settlement costs, diversion of management resources, negative
publicity and reputational harm, and other factors.
We are not currently
a party, and our property is not subject to, any other material pending legal proceedings, other than ordinary routine litigation incidental
to the business.
Item 4. Mine Safety Disclosures
Not applicable.
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