3 unchanged sentences
We have limited capital resources, a cumulative deficit of approximately $321.4 million since inception and expect to incur further losses for the foreseeable future.
−Removed: As of March 31, 2020, we had approximately $48.9 million of cash, cash equivalents and investments available-for-sale, and working capital of $46.1 million.
−Removed: Net cash used in operating activities for the three months ended March 31, 2020 was approximately $6.5 million.
+Added: As of June 30, 2020, we had approximately $40.0 million of cash, cash equivalents and investments available-for-sale, and working capital of $40.0 million.
+Added: Net cash used in operating activities for the six months ended June 30, 2020 was approximately $16.2 million.
On March 22, 2019, the Company entered into a sales agreement (the “Sales Agreement”) with Cantor Fitzgerald & Co.
2 unchanged sentences
The Company paid $0.3 million in commissions and offering fees related to the sales.
−Removed: As of March 31, 2020, approximately $34.6 million remains available for issuance under this facility.
+Added: During the six months ended June 30, 2020, the Company sold 987,716 of shares of its common stock pursuant to the Sales Agreement with the Agent for proceeds of $2.0 million, net of issuance costs.
+Added: As of June 30, 2020, approximately $32.6 million remains available for sale under this facility.
On February 4, 2020, the Company entered into an underwriting agreement with Cantor Fitzgerald & Co., as underwriter, pursuant to which the Company agreed to issue and sell an aggregate of up to 3,670,212 shares of its common stock, which included 478,723 optional shares that may be sold pursuant to an over-allotment option granted to the underwriters.
32 unchanged sentences
the impact of Triferic Dialysate and Triferic AVNU on established customer protocols, formularies and operational practices;
+Added: The ability and willingness of dialysis centers to adopt their protocols and utilize the drugs in a manner consistent with state regulatory agencies.
reimbursement of either formulation of Triferic by government and commercial payors;
20 unchanged sentences
Quarantines, shelter-in-place, executive and similar government orders, or the perception that such orders, shutdowns or other restrictions on the conduct of business operations could occur, related to COVID-19 or other infectious diseases, may impact personnel at our manufacturing facilities and third-party manufacturing facilities in the United States, Europe and other countries, or the availability or cost of materials we use or require to conduct our business, including product development, which would disrupt our supply chain.
−Removed: If the COVID-19 pandemic were to negatively affect our manufacturing facilities, the costs related to
−Removed: such manufacturing may increase and the productivity of our facilities may decrease.
+Added: If the COVID-19 pandemic were to negatively affect our manufacturing facilities, the costs related to such manufacturing may increase and the productivity of our facilities may decrease.
Furthermore, some of our manufacturers and suppliers are in Europe and may be impacted by port closures and other restrictions resulting from the COVID-19 pandemic, which may disrupt our supply chain or limit our ability to obtain sufficient materials for our drug products.
38 unchanged sentences
Pursuant to the Loan Agreement, we have pledged substantially all of our assets and the assets of our subsidiary, Rockwell Transportation, Inc., and have agreed that we may not sell or assign rights to our patents and other intellectual property without the prior consent of Innovatus.
−Removed: Additionally, the Loan Agreement contains affirmative and negative covenants that, among other things, restrict our ability to:
+Added: Additionally, the Loan Agreement contains affirmative, including financial covenants related to liquidity and trailing twelve months sales of Triferic, and negative covenants that, among other things, restrict our ability to:
incur additional indebtedness;
3 unchanged sentences
sell all or a portion of the Company’s property, business or assets.
−Removed: These terms of the Loan Agreement could prevent us from taking certain actions without the consent of our lenders, which may limit our flexibility in operating our business and our ability to take actions that might be advantageous to us and our
−Removed: stockholders, placing us at a competitive disadvantage compared to our competitors who have less leverage and who therefore may be able to take advantage of opportunities that our leverage prevents us from exploiting.
−Removed: The Loan Agreement also includes customary events of default, including, among other things, a change of control.
+Added: These terms of the Loan Agreement could prevent us from taking certain actions without the consent of our lenders, which may limit our flexibility in operating our business and our ability to take actions that might be advantageous to us and our stockholders, placing us at a competitive disadvantage compared to our competitors who have less leverage and who therefore may be able to take advantage of opportunities that our leverage prevents us from exploiting.
+Added: Our ability to comply with these covenants may be adversely affected by events beyond our control, and we cannot assure you that we can maintain compliance
+Added: with these covenants, which may result in an event of default.
+Added: These covenants could limit our ability to make needed capital expenditures or otherwise conduct necessary or desirable business activities.
+Added: The Loan Agreement also includes customary events of default, including, among other things, a change of control or a failure to comply with certain of the covenants in the Loan Agreement.
Upon the occurrence and continuation of an event of default, all amounts due under the Loan Agreement become (in the case of a bankruptcy event), or may become (in the case of all other events of default and at the option of Innovatus), immediately due and payable.
15 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.