For information regarding factors that could affect our results of operations, financial condition and liquidity, refer to the section entitled “Risk Factors”
−Removed: in Part I, Item 1A in our annual report on Form 10-K for the year ended December 31, 2020.
−Removed: Except as updated below, there have been no material changes from the risk factors previously disclosed in our annual report on Form 10-K for the year ended December 31, 2020 as filed with the SEC.
−Removed: Changes to the patent law in the U.S.
−Removed: and other jurisdictions could diminish the value of patents in general, thereby impairing our ability to protect our future drugs and our drug candidates.
−Removed: As is the case with other biopharmaceutical companies, our success is heavily dependent on intellectual property, particularly patents that we license or hold directly.
−Removed: Obtaining and enforcing patents in the biopharmaceutical industry involve both technological and legal complexity and is therefore costly, time-consuming and inherently uncertain.
−Removed: Recent patent reform legislation in the U.S.
−Removed: and other countries, including the Leahy-Smith America Invents Act, or Leahy-Smith Act, signed into law on September 16, 2011, could increase those uncertainties and costs.
−Removed: The Leahy-Smith Act includes a number of significant changes to U.S.
−Removed: These include provisions that affect the way patent applications are prosecuted, redefine prior art and provide more efficient and cost-effective avenues for competitors to challenge the validity of patents.
−Removed: In addition, the Leahy-Smith Act has transformed the U.S.
−Removed: patent system into a first-to-file system.
−Removed: The first-to-file provisions, however, only become effective on March 16, 2013.
−Removed: Accordingly, it is not yet clear what, if any, impact the Leahy-Smith Act will have on the operation of our business.
−Removed: However, the Leahy-Smith Act and its implementation could make it more difficult to obtain patent protection for our inventions and increase the uncertainties and costs surrounding the prosecution of our patent applications and the enforcement or defense of our issued patents, all of which could harm our business, results of operations and financial condition.
−Removed: Supreme Court has ruled on several patent cases in recent years, either narrowing the scope of patent protection available in certain circumstances or weakening the rights of patent owners in certain situations.
−Removed: In addition, there have been recent proposals for additional changes to the patent laws of the U.S.
−Removed: and other countries that, if adopted, could impact our ability to obtain patent protection for our proprietary technology or our ability to enforce our proprietary technology.
−Removed: Depending on future actions by the U.S.
−Removed: Congress, the U.S.
−Removed: courts, the USPTO and the relevant law-making bodies in other countries, the laws and regulations governing patents could change in unpredictable ways that would weaken our ability to obtain new patents or to enforce our existing patents and patents that we might obtain in the future.
−Removed: We may be subject to adverse legislative or regulatory tax changes that could negatively impact our financial condition.
−Removed: The rules dealing with U.S.
−Removed: federal, state and local income taxation are constantly under review by persons involved in the legislative process and by the IRS and the U.S.
−Removed: Treasury Department.
−Removed: Changes to tax laws (which changes may have retroactive application) could adversely affect our stockholders or us.
−Removed: In recent years, many such changes have been made and changes are likely to continue to occur in the future.
−Removed: We cannot predict whether, when, in what form, or with what effective dates, tax laws, regulations and rulings may be enacted, promulgated or decided, which could result in an increase in our, or our stockholders’, tax liability or require changes in the manner in which we operate in order to minimize increases in our tax liability.
−Removed: The impact of these and other future changes in tax laws is uncertain and could have an adverse effect on our business, cash flow, financial condition or results of operations.
−Removed: UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 
−Removed: DEFAULTS UPON SENIOR SECURITIES
−Removed: MINE SAFETY DISCLOSURE
−Removed: Not applicable.
+Added: in Part I, Item 1A in our annual report on Form 10-K for the year ended December 31, 2020, and in Part II, Item 1A in our prior quarterly reports on Form 10-Q filed during this fiscal year.
+Added: There have been no material changes from the risk factors previously disclosed in our annual report on Form 10-K for the year ended December 31, 2020 and in our prior quarterly reports on Form 10-Q filed during this fiscal year, each as filed with the SEC.
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.