What changed in this filing

/stocks — the workspaceLOADING

Item 1. Financial Statements

2020-11-09 compared with 2020-08-10 · 140 added, 89 removed, 371 unchanged (38% of the section changed)

2 unchanged sentences

CONDENSED CONSOLIDATED BALANCE SHEETS

September 30,

Current assets:

2 unchanged sentences

Interest receivable

Other receivable

Total current assets

16 unchanged sentences

Stockholders' equity:

Preferred stock - $ 0.001 par value, 5 million shares authorized and 0 shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively

Common stock, $ 0.001 par value, 150 million shares authorized, 46.6 million and 45.7 million shares issued and outstanding as of June 30, 2020 and December 31, 2019, respectively

Preferred stock - $ 0.001 par value, 5 million shares authorized and 0 shares issued and outstanding at September 30, 2020 and December 31, 2019, respectively

Common stock, $ 0.001 par value, 150 million shares authorized, 48.0 million and 45.7 million shares issued and outstanding as of September 30, 2020 and December 31, 2019, respectively

Additional paid-in capital

8 unchanged sentences

For the Three Months Ended

For the Six Months Ended

For the Nine Months Ended

September 30,

Total revenues

20 unchanged sentences

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

For the Three Months Ended June 30, 2020

For the Three Months Ended September 30, 2020

Additional Paid-

Stockholders’

Balance at April 1, 2020

Balance at July 1, 2020

( 340,360,757 )

Issuance common stock for cash

Stock-based compensation

1 unchanged sentence

( 7,371,500 )

Balance at June 30, 2020

Balance at September 30, 2020

( 347,732,257 )

For the Six Months Ended June 30, 2020

For the Nine Months Ended September 30, 2020

Additional Paid-

2 unchanged sentences

( 327,533,414 )

Issuance common stock for cash

Warrants exercised for cash

3 unchanged sentences

( 20,198,843 )

Balance at June 30, 2020

Balance at September 30, 2020

( 347,732,257 )

For the Three Months Ended June 30, 2019

For the Three Months Ended September 30, 2019

Additional Paid-

Stockholders’

Balance at April 1, 2019

Balance at July 1, 2019

( 316,994,766 )

Stock warrants exercised for cash

Stock warrants cashless exercised

Stock-based compensation

1 unchanged sentence

( 5,459,486 )

Balance, June 30, 2019

Balance at September 30, 2019

( 322,454,252 )

For the Six Months Ended June 30, 2019

For the Nine Months Ended September 30, 2019

Additional Paid-

4 unchanged sentences

Warrants exercised for cash

Stock warrants cashless exercised

Stock-based compensation

1 unchanged sentence

( 16,348,802 )

Balance, June 30, 2019

Balance at September 30, 2019

( 322,454,252 )

2 unchanged sentences

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

For the Six Months Ended

For the Nine Months Ended

September 30,

Cash Flows from Operating Activities:

23 unchanged sentences

Cash Flows from Financing Activities:

Proceeds from issuance of common stock

Proceeds from exercise of stock options

6 unchanged sentences

Cash and cash equivalents at end of the period

For the Six Months Ended

For the Nine Months Ended

September 30,

Supplemental schedule of non-cash financing activities:

1 unchanged sentence

Recognition of right-of-use assets and lease liability from new operating lease agreements

Stock warrants cashless exercised

See accompanying notes to these unaudited condensed consolidated financial statements.

1 unchanged sentence

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2020

September 30, 2020

NATURE OF OPERATIONS

7 unchanged sentences

The results for the condensed consolidated statement of operations are not necessarily indicative of results to be expected for the year ending December 31, 2020 or for any future interim period.

The condensed consolidated balance sheet at June 30, 2020 has been derived from unaudited financial statements;

The condensed consolidated balance sheet at September 30, 2020 has been derived from unaudited financial statements;

however, it does not include all of the information and notes required by U.S.

1 unchanged sentence

The accompanying condensed consolidated financial statements should be read in conjunction with the consolidated financial statements for the year ended December 31, 2019 and notes thereto included in the Company’s annual report on Form 10-K filed on March 12, 2020.

LIQUIDITY AND FINANCIAL CONDITION

As of June 30, 2020, the Company had cash and cash equivalents of approximately $ 32.1 million.

LIQUIDITY, FINANCIAL CONDITION AND GOING CONCERN

As of September 30, 2020, the Company had cash and cash equivalents of approximately $ 27.0 million.

The Company’s activities since inception have consisted principally of acquiring product and technology rights, raising capital, and performing research and development.

14 unchanged sentences

The Company plans to meet its capital requirements primarily through issuances of debt and equity securities and, in the longer term, revenue from sales of its product candidates, if approved.

Based on the Company’s revised clinical and research and development plans and its revised timing expectations related to the progress of its programs, and buildout of manufacturing and research facilities, and expansion of the Company’s corporate headquarters, discussed in Footnotes #7 and #10 below, the Company expects that its cash and cash equivalents as of June 30, 2020 will enable the Company to fund its operating expenses and capital expenditure requirements into the second quarter of 2021, as such these factors raise substantial doubt regarding the Company's ability to continue as a going concern.

Based on the Company’s revised clinical and research and development plans and its revised timing expectations related to the progress of its programs, and buildout of manufacturing and research facilities, and expansion of the Company’s corporate headquarters, discussed in Footnotes #7 and #10 below, the Company expects that its cash and cash equivalents as of September 30, 2020 will enable the Company to fund its operating expenses and capital expenditure requirements into the second quarter of 2021, as such these factors raise substantial doubt regarding the Company's ability to continue as a going concern.

The Company has based this estimate on assumptions that may prove to be wrong, and the Company could utilize its available capital resources sooner than it currently expects.

18 unchanged sentences

SIGNIFICANT ACCOUNTING POLICIES

Other Receivable

Pursuant to the Company's lease agreement for its manufacturing facility, the Company incurs and pays for the construction invoices directly for both the structural improvements of the facility and the building of the manufacturing modular cleanroom (i.e.

leasehold improvements and manufacturing equipment.) At the time the construction invoices are received by the Company, a fixed asset is recorded in construction-in-progress.

In accordance with the agreement, upon completion of the facility's construction, the Company is owed up to $ 1.0 million as reimbursement, and as such a landlord receivable is recorded, which provides for a legal right to receive construction reimbursements from the landlord for tenant improvement allowances.

During the third quarter of 2020, the Company recorded a $ 1.0 million receivable in its condensed consolidated financial statements.

Property and equipment - Construction in Progress

1 unchanged sentence

In connection with the manufacturing facility, the Company has incurred costs pursuant to an agreement with a vendor to design, engineer, build and eventually install modular cleanrooms in a manufacturing facility.

$ 2.6 million is recorded in fixed assets - construction in progress on the balance sheet as of June 30, 2020.

Upon completion of the facility's construction, all costs associated with the buildout will be recorded as manufacturing equipment and amortized over the estimated useful life of the facility.

$ 4.6 million is recorded in fixed assets - construction in progress on the balance sheet as of September 30, 2020.

Upon completion of the facility's construction, all costs associated with the buildout will be recorded as either manufacturing equipment and/or leasehold improvements and amortized over the estimated useful life of the leasehold lease.

New Accounting Standards

11 unchanged sentences

Diluted loss per common share is computed similarly to basic loss per common share except that it reflects the potential dilution that could occur if dilutive securities or other obligations to issue common stock were exercised or converted into common stock.

The following table sets forth the computation of net loss per share for the three and six months ended June 30, 2020 and 2019, respectively:

The following table sets forth the computation of net loss per share for the three and nine months ended September 30, 2020 and 2019, respectively:

For the Three Months Ended

For the Six Months Ended

For the Nine Months Ended

September 30,

( 7,371,500 )

6 unchanged sentences

The following securities, rounded to the nearest thousand, were not included in the diluted net loss per share calculation because their effect was anti-dilutive for the periods presented:

For the Six Months Ended

For the Nine Months Ended

September 30,

Common stock options

3 unchanged sentences

PROPERTY AND EQUIPMENT

Property and equipment consist of the following as of June 30, 2020 and December 31, 2019, respectively:

Property and equipment consist of the following as of September 30, 2020 and December 31, 2019, respectively:

September 30,

Estimated Useful Lives

Lab equipment

Manufacturing equipment

Computers, equipment and software

5 unchanged sentences

Total fixed assets, net

Depreciation expense for the three months ended June 30, 2020 and 2019 was approximately $ 0.09 million and $ 0.03 million, respectively.

Depreciation expense for the six months ended June 30, 2020 and 2019 was approximately $ 0.1 million and $ 0.04 million, respectively.

Depreciation expense for the three months ended September 30, 2020 and 2019 was approximately $ 0.1 million and $ 0.03 million, respectively.

Depreciation expense for the nine months ended September 30, 2020 and 2019 was approximately $ 0.3 million and $ 0.07 million, respectively.

On June 26, 2020, the Company entered into a lease for a manufacturing facility in Houston, Texas.

$ 2.6 million is recorded in fixed assets - construction in progress on the balance sheet as of June 30, 2020.

Upon completion of the facility's construction, all costs associated with the buildout will be recorded as manufacturing equipment and amortized over the estimated useful life of the facility.

$ 4.6 million is recorded in fixed assets - construction in progress on the balance sheet as of September 30, 2020.

In connection with the research facility that the Company opened during the second quarter of 2020, the Company incurred approximately $ 1.3 million of costs acquiring necessary lab equipment to carry out its experiments.

On March 23, 2020, the Company entered into an agreement to expand its corporate headquarters in Houston, Texas, which is expected to commence in the third or fourth quarter of 2020.

The $ 1.3 million is included in Lab equipment within fixed assets and is being depreciated over five years .

On March 23, 2020, the Company entered into an agreement to expand its corporate headquarters in Houston, Texas, which commenced in the third quarter of 2020.

The initial lease term is ten years with two five-year renewal options.

1 unchanged sentence

Additionally, the Company is also responsible for its share of operating expenses.

In the third quarter of 2020, the Company recorded right-of use assets and related operating lease liabilities of approximately $ 4.1 million as result of entering into the lease for its new corporate facility.

On April 30, 2020, the Company entered into a lease for a research facility in Houston, Texas.

1 unchanged sentence

Fixed rent payments under the initial term are approximately $ 1.1 million.

In the second quarter of 2020, the Company recorded right-of use assets and related operating lease liabilities of approximately $ 0.9 million as result of entering into the lease for our research facility.

On June 26, 2020, the Company entered into a lease for a manufacturing facility in Houston, Texas.

The initial lease term is ten years from the expected commencement date in the third quarter of 2020 with two five-year renewal options.

The initial lease term is ten years from the expected rent commencement date in the fourth quarter of 2020 with two five-year renewal options.

Fixed rent payments under the initial term are approximately $ 9.8 million.

Additionally, the Company is also responsible for its share of operating expenses.

In the second quarter of 2020, the Company recorded right-of use assets and related operating lease liabilities of approximately $8.3 million as result of entering into the lease for its manufacturing facility.

The Company also leases office space under agreements classified as operating leases that expire on various dates through 2022.

The Company has a remaining lease liability of $ 0.2 million and $ 0.2 million of the related right-of-use asset resulting from the lease of its corporate headquarters in Houston, Texas, which expires in 2021.

In addition, the Company has a remaining lease liability of $ 0.2 million and $ 0.2 million of the related right-of-use asset from the lease of its Jacksonville, Florida office space, which expires in 2022.

In connection with the lease for the manufacturing facility, the Company is to receive $ 1.0 million as reimbursement for out of pocket buildout costs.

Accordingly, during the third quarter of 2020, the Company recorded a $ 1.0 million receivable, and a reduction in right-of use assets, in its condensed consolidated financial statements.

The Company also leases office space under agreements classified as operating leases that expire in 2022.

The Company has a remaining lease liability of $ 0.2 million and $ 0.2 million of the related right-of-use asset resulting from the lease of its Jacksonville, Florida office space, which expires in 2022.

Such leases do not require any contingent rental payments, impose any financial restrictions, or contain any residual value guarantees.

3 unchanged sentences

The Company does not act as a lessor or have any leases classified as financing leases.

The Company excludes short-term leases having initial terms of 12 months or less from the new accounting guidance as an accounting policy election and recognizes rent expense on a straight-line basis over the lease term.

The Company has two lease agreements, an office at the Florida Atlantic Research and Development Authority and laboratory space located at the Texas Medical Center in Houston, which are included in short-term lease expense below.

At June 30, 2020, the Company had operating lease liabilities of approximately $ 9.5 million and right-of-use assets of approximately $ 9.5 million, which were included in the condensed consolidated balance sheet.

The following summarizes quantitative information about the Company’s operating leases for the three and six months ended June 30, 2020 and 2019, respectively:

At September 30, 2020, the Company had operating lease liabilities of approximately $ 12.2 million and right-of-use assets of approximately $ 11.1 million, which were included in the condensed consolidated balance sheet.

The following summarizes quantitative information about the Company’s operating leases for the three and nine months ended September 30, 2020 and 2019, respectively:

For the Three Months Ended

For the Six Months Ended

For the Nine Months Ended

September 30,

Operating lease expense summary:

4 unchanged sentences

Operating cash flows - operating leases

Weighted-average remaining lease term as of June 30, 2020 – operating leases

Weighted-average remaining lease term as of September 30, 2020 – operating leases

Weighted-average discount rate as of adoption date – operating leases

Maturities of the Company's operating leases, excluding short-term leases, are as follows:

Six months ended December 31, 2020

Maturities of our operating leases, excluding short-term leases, are as follows:

Three months ended December 31, 2020

Year ended December 31, 2021

4 unchanged sentences

( 4,241,000 )

Operating lease liabilities included in the Condensed Consolidated Balance Sheet at June 30, 2020

Operating lease liabilities included in the Condensed Consolidated Balance Sheet at September 30, 2020

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

Accounts payable and accrued liabilities consist of the following as of June 30, 2020 and December 31, 2019, respectively:

Accounts payable and accrued liabilities consist of the following as of September 30, 2020 and December 31, 2019, respectively:

September 30,

Accounts payable

4 unchanged sentences

WARRANT LIABILITY AND FAIR VALUE MEASUREMENTS

During the six months ended June 30, 2020, all of the Company's common stock purchase warrants previously treated as a liability expired.

A summary of quantitative information with respect to valuation methodology and significant unobservable inputs used for the Company’s common stock purchase warrants that are categorized within Level 3 of the fair value hierarchy for the six months ended June 30, 2020 and 2019 is as follows:

During the nine months ended September 30, 2020, all of the Company's common stock purchase warrants previously treated as a liability expired.

A summary of quantitative information with respect to valuation methodology and significant unobservable inputs used for the Company’s common stock purchase warrants that are categorized within Level 3 of the fair value hierarchy for the nine months ended September 30, 2020 and 2019 is as follows:

Weighted Average Inputs

For the Six Months Ended

For the Nine Months Ended

September 30,

Exercise price

5 unchanged sentences

Financial liabilities measured at fair value on a recurring basis are summarized below and disclosed on the balance sheet under Warrant liability:

Fair value measured at June 30, 2020

Fair value measured at September 30, 2020

Quoted prices in active

3 unchanged sentences

Fair value at

June 30, 2020

September 30, 2020

Warrant liability

16 unchanged sentences

Unobservable inputs for which there is little or no market data, which require the reporting entity to develop its own assumptions.

There were no transfers between Level 1, 2 or 3 during the six months ended June 30, 2020.

The following table presents changes in Level 3 liabilities measured at fair value for the six months ended June 30, 2020:

There were no transfers between Level 1, 2 or 3 during the nine months ended September 30, 2020.

The following table presents changes in Level 3 liabilities measured at fair value for the nine months ended September 30, 2020:

Balance - January 1, 2020

Change in fair value of warrant liability

Balance - June 30, 2020

Balance – September 30, 2020

COMMITMENTS AND CONTINGENCIES

An arbitration proceeding was brought against the Company before the Financial Industry Regulatory Authority, Inc.

by a broker seeking to be paid approximately $ 1 million as compensation for two 2018 transactions, a warrant conversion and a private placement brokered by another broker.

by a broker seeking to be paid approximately $ 1 million as compensation for two financing transactions that occurred in 2018, a warrant conversion and a private placement brokered by another broker.

The broker’s claims are based on a placement agent agreement for a private placement it brokered in 2017, under which it alleges it is entitled to compensation for the 2018 transactions.

The Company believes it has defenses to all of the allegations and intends to vigorously defend itself in this matter.

As discussed in Footnotes #6 and #7, on March 26, 2020 the Company entered into an agreement with a vendor to design, engineer, build and eventually install modular cleanrooms in a manufacturing facility in Houston, Texas, which the Company expects to lease with a commencement date in the third quarter of 2020.

The total fees for this project to be substantially completed by December 31, 2020 are estimated to be $ 6.5 million.

As of June 30, 2020, the Company has recorded $ 2.6 million of construction in progress costs associated with the building of the cleanrooms.

As of September 30, 2020, the Company has recorded $ 4.6 million of construction in progress costs associated with the building of the cleanrooms and the manufacturing facility.

STOCKHOLDERS’ EQUITY

1 unchanged sentence

Exercise of Stock Warrants

During the six months ended June 30, 2020, certain outstanding warrants were exercised for 458,334 shares of common stock providing aggregate proceeds to the Company of approximately $ 0.6 million.

During the nine months ended September 30, 2020, certain outstanding warrants were exercised for 458,334 shares of common stock providing aggregate proceeds to the Company of approximately $ 0.6 million.

Board Compensation

During the six months ended June 30, 2020, the Company issued an aggregate of 85,110 shares of common stock to its non-employee directors.

During the nine months ended September 30, 2020, the Company issued an aggregate of 85,110 shares of common stock to its non-employee directors.

The fair value of the common stock of approximately $ 0.2 million was recognized as a component of stock-based compensation expense in general and administrative expenses.

3 unchanged sentences

The Company recorded the commitment fee to additional paid in capital.

As of June 30, 2020, Aspire Capital had not purchased any shares under the Purchase Agreement.

As of September 30, 2020, Aspire Capital had purchased 1,407,470 shares under the Purchase Agreement , providing aggregate proceeds to the Company of approximately $ 2.2 million.

The Company may request daily up to 0.1 million shares to be purchased with a maximum purchase commitment of 9.2 million shares over the term of the arrangement.

1 unchanged sentence

Share Purchase Warrants

A summary of the Company’s share purchase warrants as of June 30, 2020 and changes during the period is presented below:

Weighted Average

A summary of the Company’s share purchase warrants as of September 30, 2020 and changes during the period is presented below:

Weighted Average

Remaining Contractual

Total Intrinsic

Exercise Price

3 unchanged sentences

Expired or cancelled

Balance - June 30, 2020

( 1,242,000 )

Balance - September 30, 2020

STOCK-BASED COMPENSATION

5 unchanged sentences

Each option award was granted with an exercise price of $ 2.12 per share, the closing price of the Company’s common stock on the Nasdaq Global Market on March 10, 2020, with the option award vesting in 48 equal monthly installments over a four-year period, subject to such executive officer’s continued service on the applicable vesting date.

The above awards were in addition to stock option awards issued during the six months ended June 30, 2020 to new employees upon their commencement of employment with the Company.

The above awards were in addition to stock option awards issued during the nine months ended September 30, 2020 to new employees upon their commencement of employment with the Company.

A summary of the Company’s stock option activity is as follows:

Total Intrinsic

Weighted Average

Contractual Life (in

Number of Shares

Exercise Price

Life (in years)

Intrinsic Value

Outstanding as of January 1, 2020

Outstanding as of June 30, 2020

Outstanding as of September 30, 2020

Options vested and exercisable

The Black-Scholes option pricing model is used to estimate the fair value of stock options granted under the Company’s share-based compensation plans.

The weighted average assumptions used in calculating the fair values of stock options that were granted during the six months ended June 30, 2020 was as follows:

For the Six Months Ended

June 30, 2020

The weighted average assumptions used in calculating the fair values of stock options that were granted during the nine months ended September 30, 2020 was as follows:

For the Nine Months Ended

September 30, 2020

Exercise price

5 unchanged sentences

For the Three Months Ended

For the Six Months Ended

For the Nine Months Ended

September 30,

Stock Compensation expenses:

2 unchanged sentences

Total stock compensation expenses

At June 30, 2020, the total stock-based compensation cost related to unvested awards not yet recognized was $ 12.9 million.

At September 30, 2020, the total stock-based compensation cost related to unvested awards not yet recognized was $ 11.7 million.

The expected weighted average period compensation costs to be recognized was approximately 2.5 years.

Future option grants will impact the compensation expense recognized.

During the six months ended June 30, 2020, the Company received $ 0.5 million of a grant awarded to the Mayo Foundation from the U.S.

During the nine months ended September 30, 2020, the Company received $ 0.5 million of a grant awarded to the Mayo Foundation from the U.S.

Department of Defense to fund the Phase 2 clinical trial of TPIV100 for the treatment of HER2/neu breast cancer.

3 unchanged sentences

issued by the Financial Accounting Standards Board, the Company recorded the $ 0.5 million of grant income as revenue.

The Company did not record any grant income during the six months ended June 30, 2019.

The Company did not record any grant income during the nine months ended September 30, 2019.

RELATED PARTY TRANSACTIONS

The following table sets forth related party transaction expenses recorded for the three and six months ended June 30, 2020 and 2019, respectively.

The following table sets forth related party transaction expenses recorded for the three and nine months ended September 30, 2020 and 2019, respectively.

For the Three Months Ended

For the Six Months Ended

For the Nine Months Ended

September 30,

Research and development

2 unchanged sentences

On November 16, 2018 and February 1, 2020, in furtherance of the BCM License Agreement and as contemplated by the terms thereof, the Company entered in Sponsored Research Agreements (“SRAs”) with BCM, which provided for the conduct of research for the Company by credentialed personnel at BCM’s Center for Cell and Gene Therapy.

The following table sets forth related party transaction expenses recorded in connection with the SRAs for the three and six months ended June 30, 2020 and 2019, respectively.

The following table sets forth related party transaction expenses recorded in connection with the SRAs for the three and nine months ended September 30, 2020 and 2019, respectively.

For the Three Months Ended

For the Six Months Ended

For the Nine Months Ended

September 30,

Research and development

1 unchanged sentence

On September 9, 2019, in furtherance of the BCM License Agreement and as contemplated by the terms thereof, the Company entered in a Clinical Supply Agreement ("CSA") with BCM, which provided for BCM to provide to the Company multi tumor antigen specific products.

The following table sets forth related party transaction expenses recorded in connection with the CSA for the three and six months ended June 30, 2020 and 2019, respectively.

The following table sets forth related party transaction expenses recorded in connection with the CSA for the three and nine months ended September 30, 2020 and 2019, respectively.

For the Three Months Ended

For the Six Months Ended

For the Nine Months Ended

September 30,

Research and development

1 unchanged sentence

On October 5, 2019, in furtherance of the BCM Clinical Supply Agreement and as contemplated by the terms thereof, the Company entered in a Workforce Grant Agreement ("WGA") with BCM, which provided for BCM to provide to the Company manpower costs of projects for manufacturing, quality control testing and validation run activities.

The following table sets forth related party transaction expenses recorded in connection with the WGA for the three and six months ended June 30, 2020 and 2019, respectively.

The following table sets forth related party transaction expenses recorded in connection with the WGA for the three and nine months ended September 30, 2020 and 2019, respectively.

For the Three Months Ended

For the Six Months Ended

For the Nine Months Ended

September 30,

Research and development

Clinical Trial Agreement with BCM .

On August 17, 2020, in furtherance of the BCM Clinical Supply Agreement and as contemplated by the terms thereof, the Company entered in a Clinical Trial Agreement ("CTA") with BCM, which provided for BCM to provide to the Company investigator-initiated research studies.

The following table sets forth related party transaction expenses recorded in connection with the CTA for the three and nine months ended September 30, 2020 and 2019, respectively.

For the Three Months Ended

For the Nine Months Ended

September 30,

Research and development

Purchases from Bio-Techne Corporation .

The Company is currently utilizing Bio-Techne Corporation and one of its brands for the purchases of reagents, primarily cytokines.

The Company is currently utilizing Bio-Techne Corporation and two of its brands for the purchases of reagents, primarily cytokines.

David Eansor is a member of the Company's board of directors and is serving as the President of the Protein Sciences Segment of Bio-Techne Corporation.

The following table sets forth related party transaction expenses recorded in connection with Bio-Techne Corporation for the three and six months ended June 30, 2020 and 2019, respectively.

The following table sets forth related party transaction expenses recorded in connection with Bio-Techne Corporation for the three and nine months ended September 30, 2020 and 2019, respectively.

For the Three Months Ended

For the Six Months Ended

For the Nine Months Ended

September 30,

Research and development

4 unchanged sentences

Vera became an employee of the Company and his consulting agreement was terminated.

During the three and six months ended June 30, 2019, the Company incurred approximately $ 88,000 and $ 175,000 , respectively, of expenses under Dr.

During the three and nine months ended September 30, 2019, the Company incurred approximately $ 58,000 and $ 233,000 , respectively, of expenses under Dr.

Vera’s consulting agreement.

For the Three Months Ended

For the Nine Months Ended

September 30,

Research and development

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.

What changed 10-Q

Item 1. Financial Statements