25 unchanged sentences
No offering expenses were paid directly or indirectly to any of our directors or officers (or their associates) or persons owning 10% or more of any class of our equity securities or to any other affiliates.
−Removed: The following information updates the planned use of proceeds information from our IPO we previously disclosed in the final prospectus for our IPO dated April 7, 2020, which we filed with the SEC pursuant to Rule 424(b)(4) of the Securities Act on April 8, 2020:
−Removed: we intend to use the net proceeds from the IPO, together with our existing cash and cash equivalents, to advance the clinical development of KER-050, including the advancement of Phase 2 clinical trials in patients with MDS and in patients with myelofibrosis, to advance the clinical development of KER-047, including the initiation of separate Phase 2 clinical trials in patients with IDA and in patients with IRIDA, and to advance KER-012 into clinical development, including the initiation of a Phase 1 clinical trial.
−Removed: We intend to use the remainder to fund other research and development activities, including activities related to our proprietary discovery approach, working capital and general corporate purposes.
+Added: There has been no material change in the use of proceeds from our IPO from those disclosed in the Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC on March 25, 2021.
November 2020 Public Offering of Common Stock
10 unchanged sentences
Purchase of Equity Securities by the Issuer and Affiliated Purchasers
−Removed: SELECTED FINANCIAL DATA
−Removed: The following tables set forth our selected financial data for the periods indicated.
−Removed: We derived the selected consolidated statements of operations data for the years ended December 31, 2020 and 2019 and the selected consolidated balance sheet data as of December 31, 2020 and 2019 from our audited financial statements included elsewhere in this Annual Report on Form 10-K.
−Removed: The selected consolidated statements of operations data for the year ended December 31, 2018 and the selected consolidated balance sheet data as of December 31, 2018 are derived from our audited financial statements not included in this Annual Report on Form 10-K.
−Removed: Our historical results are not necessarily indicative of results to be expected for any period in the future.
−Removed: The data should be read together with the section titled “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and in conjunction with the consolidated financial statements, related notes and other financial information included elsewhere in this Annual Report on Form 10-K.
−Removed: The selected financial data in this section are not intended to replace our consolidated financial statements and are qualified in their entirety by our consolidated financial statements, related notes and other financial information included elsewhere in this Annual Report on Form 10-K.
−Removed: 2020 2019 2018
−Removed: (in thousands, except share and per share data)
−Removed: Consolidated Statement of Operations Data:
−Removed: Research collaboration revenue $ — $ 10,000 $ 10,000
−Removed: Total revenue — 10,000 10,000
−Removed: Operating expenses:
−Removed: Research and development (33,860) (17,379) (10,111)
−Removed: General and administrative (12,797) (3,184) (1,580)
−Removed: Total operating expenses (46,657) (20,563) (11,691)
−Removed: Loss from operations (46,657) (10,563) (1,691)
−Removed: Other income (expense), net:
−Removed: Interest income (expense), net
−Removed: Research and development incentive income 2,460 558 370
−Removed: Change in fair value of preferred stock tranche liability (1,490) (2,564) (43)
−Removed: Other income, net
−Removed: Total other income (expense), net 1,124 (1,773) 613
−Removed: Loss before income taxes (45,533) (12,336) (1,078)
−Removed: Income tax benefit (provision) 172 — (257)
−Removed: Net loss $ (45,361) $ (12,336) $ (1,335)
−Removed: Net loss attributable to common stockholders—basic and diluted $ (45,361) $ (14,136) $ (2,346)
−Removed: Net loss per share attributable to common stockholders—basic and diluted(1)
−Removed: $ (2.93) $ (6.08) $ (1.08)
−Removed: Weighted average common stock outstanding—basic and diluted(1)
−Removed: 15,506,397 2,326,857 2,174,514
−Removed: (1) See Note 12 to our consolidated financial statements appearing elsewhere in this Annual Report on 10-K for further details on the calculation of basic and diluted net loss per share attributable to common stockholders.
−Removed: 2020 2019 2018
−Removed: (in thousands)
−Removed: Consolidated Balance Sheet Data:
−Removed: Cash and cash equivalents $ 265,876 $ 7,020 $ 23,259
−Removed: Working capital(1)
−Removed: 260,542 4,441 14,062
−Removed: Total assets 269,443 10,955 27,412
−Removed: Total liabilities 7,722 10,460 14,654
−Removed: Convertible preferred stock(2)
−Removed: — 19,941 19,941
−Removed: Total stockholders’ equity (deficit) 261,721 (19,446) $ (7,183)
−Removed: (1) Working capital is defined as current assets less current liabilities.
−Removed: (2) All outstanding shares of our convertible preferred stock automatically converted into 10,725,129 shares of our common stock in connection with the completion of our initial public offering.
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.