1 unchanged sentence
Evaluation of Disclosure Controls and Procedures
−Removed: Our management, with the participation of the Chief Executive Officer and Chief Financial Officer, evaluated the
−Removed: effectiveness of our disclosure controls and procedures (as defined in Rule 13a-15(e) promulgated under the Securities Exchange Act of 1934) and concluded that, as of September 30, 2022, our disclosure controls and procedures were not effective
−Removed: due to a material weakness in internal control over financial reporting described below.
−Removed: During the course of preparing and reviewing the Company’s
−Removed: interim financial statements for the period ended September 30, 2022, we identified a computational error in an accrual relating to research and development costs.
−Removed: This error was corrected in the financial statements as of and for
−Removed: the period ended September 30, 2022.
−Removed: Our Chief Executive Officer and our Chief Financial Officer concluded that we did not maintain effective internal control
−Removed: over the determination and reporting of a research and development accrual.
−Removed: Specifically, we did not perform a sufficiently precise review to ensure the accuracy of an accrual related to research and development costs.
−Removed: We have determined that this deficiency constitutes a "material weakness" in our internal control over financial reporting.
−Removed: We have advised our audit committee of this deficiency in our internal control over financial reporting, and the fact that this deficiency constitutes a "material weakness." A material weakness in internal control over financial reporting is a
−Removed: deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of our annual or interim financial statements will not be prevented or detected
−Removed: on a timely basis by our internal controls.
−Removed: Upon identification of this material weakness, we performed additional procedures to remediate this material weakness.
−Removed: Specifically, we have implemented additional reviews of research and development accruals and have enhanced documentation of processes.
−Removed: Management believes that these efforts will effectively remediate the material weakness.
−Removed: Therefore, notwithstanding the identified material weaknesses, management believes that our condensed consolidated financial
−Removed: statements included in this quarterly report on Form 10-Q present fairly, in all material respects, our financial position, results of operations and cash flows for the periods presented in conformity with accounting principles generally
−Removed: accepted in the United States.
−Removed: Our management, including our Chief Executive Officer and Chief Financial Officer, does not expect that our disclosure
−Removed: controls and procedures or our internal controls will prevent all error and all fraud.
−Removed: A control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system
−Removed: Further, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs.
−Removed: Because of the inherent limitations in all control systems, no
−Removed: evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within the Company have been detected.
+Added: Our management, with the participation of the Chief Executive Officer and Chief Financial Officer, evaluated the effectiveness of our disclosure controls and procedures (as defined in Rule
+Added: 13a-15(e) promulgated under the Securities Exchange Act of 1934) and concluded that, as of March 31, 2023, our disclosure controls and procedures were effective.
+Added: Our management, including our Chief Executive Officer and Chief Financial Officer, does not expect that our disclosure controls and procedures or our internal controls will prevent all error and
+Added: A control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met.
+Added: Further, the design of a control system must reflect the fact that
+Added: there are resource constraints, and the benefits of controls must be considered relative to their costs.
+Added: Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues
+Added: and instances of fraud, if any, within the Company have been detected.
Changes in Internal Control Over Financial Reporting
−Removed: Except as noted in the preceding paragraphs, there have not been any change in our internal control over financial reporting
−Removed: during the quarter ended September 30, 2022 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.
+Added: During the quarter ended March 31, 2023, no change in our internal control over financial reporting has materially affected, or is reasonably likely to materially affect, our internal control
+Added: over financial reporting.
PART II — OTHER INFORMATION
−Removed: Legal Proceedings
−Removed: The information set forth in this report should be read in conjunction with the risk factors set forth in Item 1A, “Risk Factors,” of Part I of our Annual Report on Form 10-K for the year ended December 31, 2021,
−Removed: which could materially impact our business, financial condition or future results.
−Removed: Unregistered Sales of Equity Securities and Use of Proceeds
−Removed: Defaults Upon Senior Securities
−Removed: Mine Safety Disclosures
−Removed: Not Applicable
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.