38 unchanged sentences
We have a history of net losses and we may not achieve or maintain profitability.
−Removed: We have incurred net losses since our inception, including losses of $65.3 million, $76.2 million, and $33.6 million for the years ended December 31, 2024, 2023, and 2022, respectively, and $20.7 million and $11.5 million for the three months ended March 31, 2025 and 2024, respectively.
−Removed: As of March 31, 2025 and December 31, 2024, we had an accumulated deficit of $583.5 million and $562.8 million, respectively.
+Added: We have incurred net losses since our inception, including losses of $65.3 million, $76.2 million, and $33.6 million for the years ended December 31, 2024, 2023, and 2022, respectively, and $34.0 million and $34.3 million for the six months ended June 30, 2025 and 2024, respectively.
+Added: As of June 30, 2025 and December 31, 2024, we had an accumulated deficit of $596.8 million and $562.8 million, respectively.
If we are unable to continue to successfully develop and commercialize products in our pharma biocatalysis business, increase sales of existing products and services, develop and commercialize our ECO Synthesis manufacturing platform, develop new products or services, or otherwise expand our business, whether through new or expanded collaborations or other products and services, our net losses may increase and we may never achieve profitability.
33 unchanged sentences
Although we continue to expand our customer base, our current revenues are derived from a limited number of key customers.
−Removed: For the three months ended March 31, 2025 and 2024, customers that each individually contributed 10% or more of our total revenue accounted for 66% and 60% of our total revenues, respectively.
+Added: For the six months ended June 30, 2025 and 2024, customers that each individually contributed 10% or more of our total revenue accounted for 43% and 40% of our total revenues, respectively.
We expect a limited number of customers to continue to account for a significant portion of our revenues for the foreseeable future.
7 unchanged sentences
Any such expiration, termination or reduction could materially adversely affect our revenues, financial condition and results of operations.
−Removed: For the three months ended March 31, 2025, we derived a majority of our product revenue from these product supply agreements.
+Added: For the three and six months ended June 30, 2025, we derived a majority of our product revenue from these product supply agreements.
The demand for our products depends in part on our customers’ research and development and the clinical and market success of their products.
125 unchanged sentences
We have investments in illiquid or non-marketable equity securities acquired in private transactions.
−Removed: As of March 31, 2025, 2.2% of our consolidated assets consisted of investment securities, which are illiquid investments.
+Added: As of June 30, 2025, 2.0% of our consolidated assets consisted of investment securities, which are illiquid investments.
Investments in non-marketable securities are inherently risky and difficult to value.
210 unchanged sentences
We have adopted a strategy of seeking patent protection in the United States and in foreign countries with respect to certain of the technology used in or relating to our products, services, and processes.
−Removed: As such, as of March 31, 2025 , we owned or controlled approximately 1,650 active issued patents and pending patent applications in the United States and in various foreign jurisdictions.
−Removed: As of March 31, 2025 , our patents and patent applications, if issued, have terms that expire between 2025 and approximately 2045.
+Added: As such, as of June 30, 2025 , we owned or controlled approximately 1,650 active issued patents and pending patent applications in the United States and in various foreign jurisdictions.
+Added: As of June 30, 2025 , our patents and patent applications, if issued, have terms that expire between 2025 and approximately 2045.
We also have license rights to a number of issued patents and pending patent applications in the United States and in various foreign jurisdictions.
325 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.