RISK FACTORS.
−Removed: A reduction of our federal income tax research activities credits may have a material adverse effect on our business and financial condition.
The Company regularly claims federal income tax credits for the research activities it conducts related to its manufacturing activities.
−Removed: The Company has recognized a total of $38.0 million as of the second quarter of 2025 in federal income tax credits for the research activities from 2015 thru 2025.
+Added: The Company has recognized a total of $37.0 million as of the third quarter of 2025 in federal income tax credits for the research activities from 2015 thru 2025.
The Internal Revenue Service (“IRS”) is conducting an examination of the Company’s U.S.
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If the IRS materially reduces or disallows our federal income tax credits for research activities, it may have a material adverse effect on our business and financial condition.
−Removed: Other than the risk factors noted above, there have been no other material changes to the risk factors as previously disclosed in “Part I.
+Added: Other than the risk factors noted above, there have been no other changes to the risk factors as previously disclosed in “Part I.
Risk Factors” in our Annual Report on Form 10-K for the year end December 31, 2024.
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.