9 unchanged sentences
We incurred net losses of $14.1 million and $14.6 million for the years ended December 31, 2020 and 2019, respectively.
−Removed: We incurred net losses of $17.7 million and $26.4 million for the three and six months ended June 30, 2021, respectively .
−Removed: As of June 30, 2021 and December 31, 2020, our accumulated deficit was $378.1 million and $351.7 million, respectively.
+Added: We incurred net losses of $6.1 million and $32.5 million for the three and nine months ended September 30, 2021, respectively .
+Added: As of September 30, 2021 and December 31, 2020, our accumulated deficit was $384.2 million and $351.7 million, respectively.
We expect to continue to incur significant sales and marketing, research and development, regulatory and other expenses as we grow our U.S.
379 unchanged sentences
Our results of operations could be adversely affected by general conditions in the global economy and in the global financial markets.
−Removed: For example, the global financial crisis caused extreme volatility and disruptions in the capital and credit markets and, more recently, the global COVID-19 pandemic caused, in addition to disruptions in the capital and credit markets, severe supply shortages and reduced hospital and clinical visits due to temporary shutdowns under federal, state and local mandates.
−Removed: A severe or prolonged economic downturn, such as the global financial crisis and COVID-19 pandemic, has resulted in and could continue to result in a variety of risks to our business, including weakened demand for BAROSTIM NEO, a delayed time to meet clinical endpoints and our ability to raise additional capital when needed on acceptable terms, if at all.
−Removed: A weak or declining economy has strained and could continue to strain our manufacturers or suppliers, resulting in supply disruption, or causing our customers to delay making payments for our services.
+Added: For example, the global financial crisis caused extreme volatility and disruptions in the capital and credit markets and, more recently, the global COVID-19 pandemic caused, and is continuing to cause, disruptions in the capital and credit markets, severe supply shortages and reduced hospital and clinical visits, including due to temporary shutdowns under federal, state and local mandates.
+Added: A severe or prolonged economic downturn, such as the global financial crisis and COVID-19 pandemic, has resulted in and could in the future result in a variety of risks to our business, including weakened demand for BAROSTIM NEO, a delayed time to meet clinical endpoints and our ability to raise additional capital when needed on acceptable terms, if at all.
+Added: A weak or declining economy has strained and could in the future strain our manufacturers or suppliers, resulting in supply disruption, or causing our customers to delay making payments for our services.
Certain of the foregoing could have harmed and could in the future harm our business and we cannot anticipate all of the ways in which the economic climate and financial market conditions may further affect our business.
139 unchanged sentences
As a result, we may be unable to compete effectively.
−Removed: For the six months ended June 30, 2021 and 2020, net cash used in operating activities was $11.5 million and $6.9 million, respectively.
+Added: For the nine months ended September 30, 2021 and 2020, net cash used in operating activities was $20.7 million and $12.0 million, respectively.
Our cash requirements in the future may be significantly different from our current estimates and depend on many factors, including, among others:
89 unchanged sentences
We may not be able to generate sufficient cash to service our Horizon loan agreement.
−Removed: As of June 30, 2021, the aggregate principal amount outstanding under our Horizon loan agreement was $20.0 million.
+Added: As of September 30, 2021, the aggregate principal amount outstanding under our Horizon loan agreement was $20.0 million.
Our ability to make scheduled payments or to refinance our debt obligations depends on numerous factors, including the amount of our cash reserves and our actual and projected financial and operating performance.
221 unchanged sentences
Section 404 of the Sarbanes-Oxley Act requires that we evaluate and determine the effectiveness of our internal control over financial reporting and, beginning with our second annual report following the IPO, which will be for our fiscal year ending December 31, 2022, provide a management report on internal control over financial reporting.
−Removed: The Sarbanes-Oxley Act also requires that our management report on internal control over financial reporting be attested to by our independent registered public accounting firm, to the extent we are no longer an “emerging growth company,” as defined by the JOBS Act, and are not a non-accelerated filer.
+Added: The Sarbanes-Oxley Act also requires that our management report on internal control over financial reporting be attested to by our independent registered public accounting firm,
+Added: to the extent we are no longer an “emerging growth company,” as defined by the JOBS Act, and are not a non-accelerated filer.
We do not expect to have our independent registered public accounting firm attest to our management report on internal control over financial reporting for so long as we are an emerging growth company.
17 unchanged sentences
The representatives of the underwriters, however, may, in their sole discretion, permit our officers, directors and other stockholders who are subject to lock-up agreements to sell shares prior to the expiration of the lock-up agreements.
−Removed: In addition, as of June 30, 2021, approximately 2.7 million shares of common stock that are subject to outstanding options are eligible for sale in the public market to the extent permitted by the provisions of various vesting schedules, the lock-up agreements and Rule 144 and Rule 701 under the Securities Act.
+Added: In addition, as of September 30, 2021, approximately 2.7 million shares of common stock that are subject to outstanding options and approximately 0.7 million shares of common stock that are subject to outstanding warrants are eligible for sale in the public market to the extent permitted by the provisions of various vesting schedules, the lock-up agreements and Rule 144 and Rule 701 under the Securities Act.
If these additional shares of common stock are sold, or if it is perceived that they will be sold, in the public market, the trading price of our common stock could decline.
−Removed: After the IPO, the holders of approximately 11.9 million shares of our outstanding common stock as of June 30, 2021, are entitled to rights, subject to certain conditions, to require us to file registration statements covering their shares or to include their shares in registration statements that we may file for ourselves or other stockholders.
+Added: After the IPO, the holders of approximately 11.9 million shares of our outstanding common stock became entitled to rights, subject to certain conditions, to require us to file registration statements covering their shares or to include their shares in registration statements that we may file for ourselves or other stockholders.
Registration of these shares under the Securities Act would result in the shares becoming freely tradable without restriction under the Securities Act, except for shares purchased by affiliates.
14 unchanged sentences
Any person or entity purchasing or otherwise acquiring any interest in shares of our capital stock shall be deemed to have notice of and to have consented to the provisions of our amended and restated certificate of incorporation described above.
−Removed: Under the Securities Act, federal and state courts have concurrent jurisdiction over all suits brought to enforce any duty or liability created by the Securities Act, and investors cannot waive compliance with the federal securities laws and the rules and regulations thereunder.
+Added: Under the Securities Act, federal and state courts have
+Added: concurrent jurisdiction over all suits brought to enforce any duty or liability created by the Securities Act, and investors cannot waive compliance with the federal securities laws and the rules and regulations thereunder.
Accordingly, there is uncertainty as to whether a court would enforce such a forum selection provision as written in connection with claims arising under the Securities Act.
−Removed: We believe these provisions may benefit us by providing increased consistency in the application of Delaware law and federal securities laws by chancellors and judges, as applicable, particularly experienced in resolving corporate disputes, efficient administration of cases on a more expedited schedule relative to other forums and protection against the
−Removed: burdens of multi-forum litigation.
+Added: We believe these provisions may benefit us by providing increased consistency in the application of Delaware law and federal securities laws by chancellors and judges, as applicable, particularly experienced in resolving corporate disputes, efficient administration of cases on a more expedited schedule relative to other forums and protection against the burdens of multi-forum litigation.
However, these provisions may have the effect of discouraging lawsuits against our directors, officers, employees and agents as it may limit any stockholder’s ability to bring a claim in a judicial forum that such stockholder finds favorable for disputes with us or our directors, officers, employees or agents.
12 unchanged sentences
• prohibit cumulative voting in the election of directors, which limits the ability of minority stockholders to elect director candidates;
−Removed: • provide that special meetings of our stockholders may be called only by the Chairman of the board, the Chief Executive Officer, or a majority of the Board of Directors then in office, which may delay the ability of our stockholders to force consideration by our company of a take-over proposal or to take certain corporate actions, including the removal of directors.
+Added: • provide that special meetings of our stockholders may be called only by the Chairman of the board, the
+Added: Chief Executive Officer, or a majority of the Board of Directors then in office, which may delay the ability of our stockholders to force consideration by our company of a take-over proposal or to take certain corporate actions, including the removal of directors.
In addition, Section 203 of the DGCL, which generally prohibits a Delaware corporation from engaging in any of a broad range of business combinations with an interested stockholder who owns in excess of 15% of our outstanding voting stock from merging or combining with us for a period of three years after the date of the transaction in which the person acquired in excess of 15% of our outstanding voting stock, unless the merger or combination is approved in a prescribed manner.
8 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.