35 unchanged sentences
The disease caused by the SARS-CoV-2 virus has been designated COVID-19.
−Removed: According to the World Health Organization, since this outbreak was first reported in late 2019, there have been over 570 million confirmed cases of COVID-19 and over 6 million deaths worldwide attributed to the virus (as of July 2022).
+Added: According to the World Health Organization, since this outbreak was first reported in late 2019, there have been over 620 million confirmed cases of COVID-19 and over 6 million deaths worldwide attributed to the virus (as of October 2022).
COVID-19 is associated with a high incidence of both arterial and venous coagulation-related adverse events in large and small blood vessels.
107 unchanged sentences
If we are unable to obtain sufficient financing or are unable to complete a strategic transaction, we may discontinue our development activities on rNAPc2 or Gencaro or discontinue our operations .
−Removed: We believe our cash and cash equivalents as of June 30, 2022 will be sufficient to fund our operations at the current levels through at least the end of fiscal year 2023.
+Added: We believe our cash and cash equivalents as of September 30, 2022 will be sufficient to fund our operations at the current levels through at least the end of fiscal year 2023.
Our review of our strategic options may impact this projection.
12 unchanged sentences
333-254585) .
−Removed: As of August 1, 2022, the amount available for the offering under the prospectus supplement is subject to the limitation of not selling a total value amount of shares exceeding more than one-third of our public float in any 12-month period, which as of August 1, 2022 would have been approximately $9.9 million .
+Added: As of October 27, 2022, the amount available for the offering under the prospectus supplement is subject to the limitation of not selling a total value amount of shares exceeding more than one-third of our public float in any 12-month period, which as of October 27, 2022 would have been approximately $9.3 million .
In March 2020, the World Health Organization declared the outbreak of COVID-19, a novel strain of Coronavirus, a global pandemic.
6 unchanged sentences
Our R&D expense is almost entirely generated by our activities relating to the development of rNAPc2 (AB201).
−Removed: R&D expense for the three months ended June 30, 2022 was $1.5 million compared to $3.6 million for the corresponding period of 2021, a decrease of $2.1 million.
−Removed: R&D expense for the six months ended June 30, 2022 was $3.7 million compared to $6.5 million for the corresponding period of 2021, a decrease of $2.8 million.
−Removed: Clinical expense decreased approximately $1.2 million and $2.1 million for the three and six months ended June 30, 2022, as compared to the corresponding periods of 2021.
+Added: R&D expense for the three months ended September 30, 2022 was $1.0 million compared to $3.4 million for the corresponding period of 2021, a decrease of $2.4 million.
+Added: R&D expense for the nine months ended September 30, 2022 was $4.7 million compared to $9.9 million for the corresponding period of 2021, a decrease of $5.2 million.
+Added: Clinical expense decreased approximately $2.0 million and $4.1 million for the three and nine months ended September 30, 2022, as compared to the corresponding periods of 2021.
The decrease was related to the completion of enrollment in our rNAPc2 (AB201) international Phase 2b clinical trial in the fourth quarter of 2021.
−Removed: Manufacturing process development costs decreased approximately $1.0 million and $0.6 million for the three and six months ended June 30, 2022, as compared to the corresponding periods of 2021.
−Removed: R&D personnel costs in creased approximately $ 0.2 million for the three months ended June 30 , 2022 , as compared to the corresponding period of 202 1 .
−Removed: R&D personnel costs was relatively unchanged for the six months ended June 30, 2022, as compared to the corresponding period of 2021.
+Added: Manufacturing process development costs decreased approximately $0.4 million and $1.0 million for the three and nine months ended September 30, 2022, as compared to the corresponding periods of 2021.
+Added: R&D personnel costs in creased approximately $ 0.2 million for both the three and nine months ended September 30 , 2022 , as compared to the corresponding period s of 202 1 .
In July 2022, we implemented a strategic reduction of our workforce by approximately 67%, or 12 employees.
1 unchanged sentence
The restructuring was a result of our decision to manage our operating costs and expenses.
−Removed: In July, we recorded total restructuring charges of approximately $790,000, of which $490,000 and $300,000 were recognized in research and development and general and administrative expenses, respectively, in connection with the restructuring, all in the form of one-time termination benefits.
+Added: In July, we record ed total restructuring charges of approximately $790,000, of which $490,000 and $300,000 were reco gnize d in research and development and general and administrative expenses, respectively, in connection with the restructuring, all in the form of one-time termination benefits.
R&D expense in 2022 is expected to be lower than 2021, as we completed our rNAPc2 (AB201) international Phase 2b clinical trial in the fourth quarter of 2021.
1 unchanged sentence
General and administrative, or G&A, expenses primarily consist of personnel costs, consulting and professional fees, insurance, facilities and depreciation expenses, and various other administrative costs.
−Removed: G&A expenses were $1.7 million for the three months ended June 30, 2022 compared to $1.3 million for the corresponding period of 2021, an increase of $0.5 million.
−Removed: The increase for the three month period was primarily a result of increases in professional fees and consulting costs.
−Removed: G&A expenses were $2.8 million for the six months ended June 30, 2022 compared to $2.5 million for the corresponding period of 2021, an increase of $0.3 million.
−Removed: The increase for the six month period was primarily a result of increases in professional fees and consulting costs, offset by lower personnel costs in 2022.
−Removed: G&A expenses in 2022 are expected to be consistent with 2021 as we maintain administrative activities to support our ongoing operations.
−Removed: In July 2022, w e recorded total restructuring charges of approximately $300,000 which were recognized in general and administrative expenses in connection with the restructuring, all in the form of one-time termination benefits
+Added: G&A expenses were $1.5 million for the three months ended September 30, 2022 compared to $1.3 million for the corresponding period of 2021, an increase of $0.2 million.
+Added: The increase for the three month period was primarily a result of one-time termination benefits discussed above.
+Added: G&A expenses were $4.4 million for the nine months ended September 30, 2022 compared to $3.8 million for the corresponding period of 2021, an increase of $0.6 million.
+Added: The increase for the nine month period was primarily a result of increases in professional fees and consulting costs and one-time termination benefits discussed above in 2022.
+Added: G&A expenses in 2022 are expected to be slightly higher than 2021 as we maintain administrative activities to support our ongoing operations along with the one-time termination benefits recorded in the third quarter 2022.
Interest and Other Income
−Removed: Interest and other income was $72,000 and $3,000 in the three months ended June 30, 2022 and 2021, respectively.
−Removed: Interest and other income was $79,000 and $5,000 in the six months ended June 30, 2022 and 2021, respectively.
+Added: Interest and other income was $222,000 and $4,000 in the three months ended September 30, 2022 and 2021, respectively.
+Added: Interest and other income was $301,000 and $9,000 in the nine months ended September 30, 2022 and 2021, respectively.
Interest income for the remainder of 2022 is expected to be negligible.
Other Expense
−Removed: Other expense was $2,000 for the three and six months ended June 30, 2022.
+Added: Other expense was $5,000 for the three and nine months ended September 30, 2022.
Based on our current capital structure, other expense for the remainder of 2022 is expected to be negligible.
1 unchanged sentence
Cash and Cash Equivalents
+Added: September 30,
(in thousands)
Cash and cash equivalents
−Removed: As of June 30, 2022, we had total cash and cash equivalents of $46.4 million, as compared to $53.4 million as of December 31, 2021.
−Removed: The net decrease of $6.9 million primarily reflects the cash used in operating activities during the six months ended June 30, 2022.
−Removed: In July 2022, we implemented a strategic reduction of our workforce.
−Removed: In July, we recorded total restructuring charges of approximately $790,000 in connection with the restructuring, all in the form of one-time termination benefits.
+Added: As of September 30, 2022, we had total cash and cash equivalents of $43.9 million, as compared to $53.4 million as of December 31, 2021.
+Added: The net decrease of $9.4 million primarily reflects the cash used in operating activities during the nine months ended September 30, 2022.
Cash Flows from Operating, Investing and Financing Activities
−Removed: Six Months Ended June 30,
+Added: Nine Months Ended
+Added: September 30,
(in thousands)
4 unchanged sentences
Net (decrease) increase in cash and cash equivalents
−Removed: Net cash used in operating activities for the six months ended June 30, 2022 decreased $2.0 million compared with the same period in 2021.
+Added: Net cash used in operating activities for the nine months ended September 30, 2022 decreased $4.4 million compared with the same period in 2021.
This was primarily due to lower outflows related to changes in operating assets and liabilities and a lower net loss in 2022, as discussed in Results of Operations above.
−Removed: Net cash used in investing activities for the six months ended June 30, 2022 was $2,000 for the purchase of property and equipment.
−Removed: Net cash used in investing activities for the six months ended June 30, 2021 was $22,000 for the purchase of property and equipment.
−Removed: There were no financing activities in the six months ended June 30, 2022.
−Removed: Net cash provided by financing activities was $23.1 million for the three months ended June 30, 2021 related to net proceeds from sales of our common stock in our “at the market” equity offering in the period.
+Added: Net cash used in investing activities for the nine months ended September 30, 2022 was $2,000 for the purchase of property and equipment.
+Added: Net cash used in investing activities for the nine months ended September 30, 2021 was $36,000 for the purchase of property and equipment.
+Added: There were no financing activities in the nine months ended September 30, 2022.
+Added: Net cash provided by financing activities was $23.1 million for the nine months ended September 30, 2021 related to net proceeds from sales of our common stock in our “at the market” equity offering in the period.
Sources and Uses of Capital
4 unchanged sentences
In April 2021, we amended the new sales agreement and have $50.0 million available for the offering under our prospectus to our registration statement on Form S-3 (No.
−Removed: As of August 1, 2022, the amount available for the offering under the prospectus supplement is subject to the limitation of not selling a total value amount of shares exceeding more than one-third of our public float in any 12-month period, which as of August 1, 2022 would have been approximately $9.9 million .
+Added: As of October 27, 2022, the amount available for the offering under the prospectus supplement is subject to the limitation of not selling a total value amount of shares exceeding more than one-third of our public float in any 12-month period, which as of October 27, 2022 would have been approximately $9.3 million .
In March 2020, the World Health Organization declared the outbreak of COVID-19, a novel strain of Coronavirus, a global pandemic.
10 unchanged sentences
the terms and conditions of our existing collaborative and licensing agreements.
−Removed: We believe our cash and cash equivalents as of June 30, 2022 will be sufficient to fund our operations at the current levels through at least the end of fiscal year 2023.
+Added: We believe our cash and cash equivalents as of September 30, 2022 will be sufficient to fund our operations at the current levels through at least the end of fiscal year 2023.
Our review of our strategic options may impact this projection .
27 unchanged sentences
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.