Legal Proceedings.
−Removed: From time to time, we may become involved in legal proceedings or be subject to claims arising in the ordinary course of our business.
−Removed: not currently a party to any material legal proceedings.
−Removed: Regardless of outcome, such proceedings or claims can have an adverse impact on us because of defense and settlement costs, diversion of resources and other factors, and there can be no
−Removed: assurances that favorable outcomes will be obtained.
+Added: On November 5, 2021, a securities class action complaint was filed against us and certain of our officers and directors in the U.S.
+Added: District for the Western District of Washington, captioned Dresner v.
+Added: Silverback Therapeutics, Inc., et al., Case No.
+Added: 2:21-cv-01499.
+Added: The complaint alleges that between December 3, 2020 and September 10, 2021, we and certain of our officers and directors violated (1) Sections 11 and 15 of the Securities Act;
+Added: and (2) Sections 10(b) and 20(a) of the Exchange Act and SEC Rule 10b-5 promulgated thereunder, by making allegedly false and misleading statements in various SEC filings and press releases regarding the clinical and commercial prospects of our product candidate, SBT6050, which is now discontinued.
+Added: The complaint seeks unspecified damages and interest, as well as attorneys’
+Added: fees and other costs.
+Added: The court recently appointed lead plaintiff and lead plaintiff's counsel.
+Added: We and the other defendants have not yet filed a response to the complaint, and do not anticipate doing so until after the filing of an amended complaint.
Mine Safety Disclosures.
1 unchanged sentence
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.