Latest news with #ABVCBioPharma
Associated Press
01-05-2025
- Business
- Associated Press
ABVC BioPharma Announces First Quarter 2025 Financial Results and Strategic Planning for AI-Driven Agricultural Project in Taiwan
SILICON VALLEY, CA - May 1, 2025 ( NEWMEDIAWIRE ) - ABVC BioPharma, Inc. (NASDAQ: ABVC), a clinical-stage biopharmaceutical company developing botanical-based therapies for central nervous system, oncology, and ophthalmology indications, today announced its financial results for the first quarter ended March 31, 2025, and shared updates on its strategic plan to explore the development of an AI-enabled agricultural facility in Taiwan. First Quarter 2025 Highlights In the first quarter of 2025, ABVC recognized a parcel of land in central Taiwan valued at $7,670,000 as a strategic asset. The Company is currently assessing the feasibility of developing this site into a state-of-the-art, AI-integrated agricultural facility designed to meet Good Agricultural Practices (GAP) standards. There can be no assurance that the project will be implemented as currently envisioned, or that any future development on the site will be successfully completed. If implemented, the project could leverage local AI capabilities to enable precision-controlled agriculture and contribute to a more sustainable and traceable botanical supply chain. This strategic initiative aligns with ABVC's long-term vision to enhance vertical integration, improve material consistency, and support its future botanical drug pipeline. 'We believe this potential AI-driven agricultural project reflects our forward-looking approach to sustainable pharmaceutical innovation,' said Dr. Uttam Patil, CEO of ABVC BioPharma. 'As we continue to advance our clinical pipeline, we are also taking steps to evaluate infrastructure that could support long-term scalability.' The Company emphasized that the land recognition follows applicable accounting standards and responds to prior disclosures related to asset valuation methodology in the 2024 Form 10-K. Selected Financial Data for Q1 2025 (unaudited): ABVC remains committed to executing its clinical development programs and evaluating strategic infrastructure opportunities to support long-term commercialization and partnership growth. About ABVC BioPharma & Its Industry ABVC BioPharma is a clinical-stage biopharmaceutical company with an active pipeline of six drugs and one medical device (ABV-1701/Vitargus(R)) under development. For its drug products, the Company utilizes in-licensed technology from its network of world-renowned research institutions to conduct proof-of-concept trials through Phase II of clinical development. The Company's network of research institutions includes Stanford University, University of California at San Francisco, and Cedars-Sinai Medical Center. For Vitargus(R), the Company intends to conduct global clinical trials through Phase III. For more information about ABVC and its subsidiaries, stay updated on the latest updates or visit Visit for more information on BioLite Japan. ABVC urges its shareholders to sign up on the Company's website for the latest news alerts; visit Forward-Looking Statements This press release contains 'forward-looking statements,' including statements regarding the Company's plans to develop an agricultural facility in Taiwan Such statements may be preceded by the words 'intends,' 'may,' 'will,' 'plans,' 'expects,' 'anticipates,' 'projects,' 'predicts,' 'estimates,' 'aims,' 'believes,' 'hopes,' 'potential,' or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified, and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. None of the outcomes expressed herein are guaranteed. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) our inability to manufacture our product candidates on a commercial scale on our own, or in collaboration with third parties; (ii) difficulties in obtaining financing on commercially reasonable terms; (iii) changes in the size and nature of our competition; (iv) loss of one or more key executives or scientists; and (v) difficulties in securing regulatory approval to proceed to the next level of the clinical trials or to market our product candidates. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission (SEC), including the Company's Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors are urged to read these documents free of charge on the SEC's website at The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise. This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company's securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation or sale of any of the Company's securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. Contact: Dr. Uttam Patil Email: [email protected]
Associated Press
16-04-2025
- Business
- Associated Press
UPDATE: ABVC BioPharma Announces 2024 Financial Results
Revenue Surges 234%, Expenses Down 21%, EPS Improves 77%, with Over $18.3 Million Licensing Incomes Available SILICON VALLEY, CA - April 16, 2025 ( NEWMEDIAWIRE ) - ABVC BioPharma, Inc. (NASDAQ: ABVC), a clinical-stage biopharmaceutical company focused on innovative treatments in ophthalmology, CNS (central nervous system), and oncology/hematology, leveraging its asset-light, partnership-driven model, today announced its financial results for the fiscal year ended December 31, 2024, marking a pivotal year of operational transformation and financial improvement. Revenue Growth of 234% Fueled by Global Licensing Milestones ABVC reported total revenues of $509,589 in 2024, representing a 234% increase compared to $152,430 in 2023. This significant growth was primarily driven by milestone payments collected from the Company's global licensing partners in CNS, oncology, and ophthalmology therapeutic areas. Importantly, ABVC remains eligible to receive up to an additional $18.3 million in milestone payments under existing licensing agreements, which, if received, will provide strong non-dilutive funding visibility to support future growth. Operating Expenses Reduced by 21% Reflecting Cost Discipline Total operating expenses were reduced to $5.21 million in 2024, down 21% from $6.62 million in 2023. The decline was primarily driven by: This demonstrates ABVC's successful shift to a capital-efficient, partnership-focused operating model. Stock-Based Compensation Aligns Talent Retention with Long-Term Growth ABVC significantly increased the use of stock-based compensation in 2024 to $2.77 million, compared to $0.19 million in 2023, preserving cash while aligning employees and consultants with long-term shareholder value creation. EPS Improves by 77% Driven by Strong Execution Net loss attributable to ABVC narrowed from $7.79 million in 2023 to $4.90 million in 2024. Basic and diluted loss per share improved significantly from $(1.80) to $(0.42), reflecting a 77% year-over-year improvement. Remaining Licensing Milestone Income Provides Strong Revenue Visibility Future milestone payments remain subject to the achievement of specified development and regulatory events outlined in each licensing agreement and therefore such payments are not guaranteed. Management Commentary '2024 was a breakthrough year for ABVC. We delivered strong revenue growth, executed disciplined cost management, and validated our partnership-driven business model. With over $18 million of contracted milestone payments remaining available under licensing agreements, we believe ABVC is uniquely positioned to drive long-term shareholder value without relying on dilutive financings.' - Uttam Patil, Ph.D., Chief Executive Officer of ABVC About ABVC BioPharma & Its Industry ABVC BioPharma is a clinical-stage biopharmaceutical company with an active pipeline of six drugs and one medical device (ABV-1701/Vitargus(R)) under development. For its drug products, the Company utilizes in-licensed technology from its network of world-renowned research institutions to conduct proof-of-concept trials through Phase II of clinical development. The Company's network of research institutions includes Stanford University, University of California at San Francisco, and Cedars-Sinai Medical Center. For Vitargus(R), the Company intends to conduct pivotal clinical trials (Phase III) through global partnerships. Forward-Looking Statements This press release contains 'forward-looking statements.' Such statements may be preceded by the words 'intends,' 'may,' 'will,' 'plans,' 'expects,' 'anticipates,' 'projects,' 'predicts,' 'estimates,' 'aims,' 'believes,' 'hopes,' 'potential,' or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified, and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. None of the outcomes expressed herein are guaranteed. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) our inability to manufacture our product candidates on a commercial scale on our own, or in collaboration with third parties; (ii) difficulties in obtaining financing on commercially reasonable terms; (iii) changes in the size and nature of our competition; (iv) loss of one or more key executives or scientists; and (v) difficulties in securing regulatory approval to proceed to the next level of the clinical trials or to market our product candidates. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission (SEC), including the Company's Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors are urged to read these documents free of charge on the SEC's website at The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise. This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company's securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation or sale of any of the Company's securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. Contact: Dr. Uttam Patil Email: [email protected]
Associated Press
15-04-2025
- Business
- Associated Press
ABVC BioPharma Announces 2024 Financial Results
Revenue Surges 234%, Expenses Down 21%, EPS Improves 77%, with Over $18.3 Million Licensing Incomes Available SILICON VALLEY, CA - April 15, 2025 ( NEWMEDIAWIRE ) - ABVC BioPharma, Inc. (NASDAQ: ABVC), a clinical-stage biopharmaceutical company focused on innovative treatments in ophthalmology, CNS (central nervous system), and oncology/hematology, leveraging its asset-light, partnership-driven model, today announced its financial results for the fiscal year ended December 31, 2024, marking a pivotal year of operational transformation and financial improvement. Revenue Growth of 234% Fueled by Global Licensing Milestones ABVC reported total revenues of $509,589 in 2024, representing a 234% increase compared to $152,430 in 2023. This significant growth was primarily driven by milestone payments collected from the Company's global licensing partners in CNS, oncology, and ophthalmology therapeutic areas. Importantly, ABVC remains eligible to receive up to an additional $18.3 million in milestone payments under existing licensing agreements, which, if received, will provide strong non-dilutive funding visibility to support future growth. Operating Expenses Reduced by 21% Reflecting Cost Discipline Total operating expenses were reduced to $5.21 million in 2024, down 21% from $6.62 million in 2023. The decline was primarily driven by: This demonstrates ABVC's successful shift to a capital-efficient, partnership-focused operating model. Stock-Based Compensation Aligns Talent Retention with Long-Term Growth ABVC significantly increased the use of stock-based compensation in 2024 to $2.77 million, compared to $0.19 million in 2023, preserving cash while aligning employees and consultants with long-term shareholder value creation. EPS Improves by 77% Driven by Strong Execution Net loss attributable to ABVC narrowed from $7.79 million in 2023 to $4.90 million in 2024. Basic and diluted loss per share improved significantly from $(1.80) to $(0.42), reflecting a 77% year-over-year improvement. Remaining Licensing Milestone Income Provides Strong Revenue Visibility Future milestone payments remain subject to the achievement of specified development and regulatory events outlined in each licensing agreement and therefore such payments are not guaranteed. Management Commentary '2024 was a breakthrough year for ABVC. We delivered strong revenue growth, executed disciplined cost management, and validated our partnership-driven business model. With over $18 million of contracted milestone payments remaining available under licensing agreements, we believe ABVC is uniquely positioned to drive long-term shareholder value without relying on dilutive financings.' - Uttam Patil, Ph.D., Chief Executive Officer of ABVC About ABVC BioPharma & Its Industry ABVC BioPharma is a clinical-stage biopharmaceutical company with an active pipeline of six drugs and one medical device (ABV-1701/Vitargus(R)) under development. For its drug products, the Company utilizes in-licensed technology from its network of world-renowned research institutions to conduct proof-of-concept trials through Phase II of clinical development. The Company's network of research institutions includes Stanford University, University of California at San Francisco, and Cedars-Sinai Medical Center. For Vitargus(R), the Company intends to conduct pivotal clinical trials (Phase III) through global partnerships. Forward-Looking Statements This press release contains 'forward-looking statements.' Such statements may be preceded by the words 'intends,' 'may,' 'will,' 'plans,' 'expects,' 'anticipates,' 'projects,' 'predicts,' 'estimates,' 'aims,' 'believes,' 'hopes,' 'potential,' or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified, and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. None of the outcomes expressed herein are guaranteed. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) our inability to manufacture our product candidates on a commercial scale on our own, or in collaboration with third parties; (ii) difficulties in obtaining financing on commercially reasonable terms; (iii) changes in the size and nature of our competition; (iv) loss of one or more key executives or scientists; and (v) difficulties in securing regulatory approval to proceed to the next level of the clinical trials or to market our product candidates. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission (SEC), including the Company's Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors are urged to read these documents free of charge on the SEC's website at The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise. This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company's securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation or sale of any of the Company's securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. Contact: Dr. Uttam Patil Email: [email protected]
Associated Press
03-04-2025
- Business
- Associated Press
ABVC's Subsidiary AiBtl Signs Share-for-Land Agreement in Asia With Deal Valued at USD $7.67 Million
NEWMEDIAWIRE) - ABVC BioPharma, Inc. (NASDAQ: ABVC), a clinical-stage biopharmaceutical company focused on innovative treatments in ophthalmology, CNS (central nervous system), and oncology/hematology, today announced that its majority-owned subsidiary, AiBtl BioPharma Inc., has signed a strategic share-based land acquisition agreement with local landholders in central Taiwan. The transaction, valued at $7,666,667, involved the exchange of AiBtl shares priced at $5.00 [1] per share and secured exclusive rights to agricultural land for future pharmaceutical production. The acquired land will be designated for the cultivation and extraction of Polygala tenuifolia (Yuan Zhi), a central ingredient in AiBtl's botanical drug candidates for Major Depressive Disorder (MDD) and Attention Deficit Hyperactivity Disorder (ADHD). The Company believes this move is key to reducing sourcing risk and supporting large-scale, high-quality production of active botanical compounds. 'This agreement is a long-term investment into securing the future of botanical drug innovation,' said Uttam Patil, Ph.D., Chief Executive Officer of ABVC. 'By locking in upstream resources in Asia, we are strengthening AiBtl's infrastructure from seed to formulation - giving our neuroscience pipeline a sustainable foundation.' The transaction also reflects ABVC's continuing efforts to expand its physical and operational footprint in the Asia-Pacific region while enhancing value for global shareholders. Strategic Context Over the past year, AiBtl has continued to make steady progress in its business development involving its botanical drug candidates for MDD and ADHD—two neurological conditions with multi-billion-dollar global market potential and substantial unmet medical needs. With these developments, the announcement underscores ABVC's long-term commitment to securing upstream agricultural resources and establishing a vertically integrated supply chain from cultivation to clinical application. Market Significance of AiBtl's CNS Drug Pipeline MDD Drug Candidate: The MDD therapeutics market is projected to reach $14 billion by 2027, with antidepressant drug sales growing at a CAGR of 6.2%. [2] Current treatment drugs face issues like delayed onset, significant side effects, and poor compliance. [3] AiBtl's MDD candidate, based on Polygala tenuifolia extract, falls under the Botanical NDA pathway. [4] It offers a safer, long-term option with potential neuroprotective effects via NGF-related pathways, positioning it as a differentiated, high-potential out-licensing target. [5] ADHD Drug Candidate: The ADHD market is expected to exceed $24 billion by 2032, fueled by increasing diagnoses and demand for innovative treatment solutions. [6] Existing stimulants carry addiction and misuse risks. [7] AiBtl's ADHD candidate leverages natural, non-stimulant mechanisms for neurological regulation, with strong safety profile and pediatric suitability. [8] This product holds particular appeal in Asia, where parental demand for plant-based alternatives is high. [9] For more information, please visit and For more information about ABVC and its subsidiaries, stay updated on the latest updates or visit Visit for more information on BioLite Japan. ABVC urges its shareholders to sign up on the Company's website for the latest news alerts; visit About ABVC BioPharma & Its Industry ABVC BioPharma is a clinical-stage biopharmaceutical company with an active pipeline of six drugs and one medical device (ABV-1701/Vitargus(R)) under development. For its drug products, the Company utilizes in-licensed technology from its network of world-renowned research institutions to conduct proof-of-concept trials through Phase II of clinical development. The Company's network of research institutions includes Stanford University, University of California at San Francisco, and Cedars-Sinai Medical Center. For Vitargus(R), the Company intends to conduct global clinical trials through Phase III. Forward-Looking Statements This press release contains 'forward-looking statements.' Such statements may be preceded by the words 'intends,' 'may,' 'will,' 'plans,' 'expects,' 'anticipates,' 'projects,' 'predicts,' 'estimates,' 'aims,' 'believes,' 'hopes,' 'potential,' or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified, and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. None of the outcomes expressed herein are guaranteed. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) our inability to manufacture our product candidates on a commercial scale on our own, or in collaboration with third parties; (ii) difficulties in obtaining financing on commercially reasonable terms; (iii) changes in the size and nature of our competition; (iv) loss of one or more key executives or scientists; and (v) difficulties in securing regulatory approval to proceed to the next level of the clinical trials or to market our product candidates. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission (SEC), including the Company's Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors are urged to read these documents free of charge on the SEC's website at The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise. This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company's securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation or sale of any of the Company's securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. Contact: [1] The mentioned share valuation reflects a private transaction and does not represent a public offering price or future valuation of AiBtl stock.
Associated Press
19-03-2025
- Business
- Associated Press
ABVC BioPharma Maintains Lucrative Global Licensing Agreements and Promising CDMO Acquisition, Strengthening Growth Potential
Expecting $19 Million Cash Income FREMONT, CA - March 19, 2025 ( NEWMEDIAWIRE) - ABVC BioPharma, Inc. (NASDAQ: ABVC), a clinical-stage biopharmaceutical company focused on innovative treatments in ophthalmology, CNS (central nervous system), and oncology/hematology, provides an update on its cash milestone payment receivables per global licensing agreements and $60 million CDMO acquisition, reinforcing its strategic positioning for long-term growth. With three major global licensing agreements across psychiatric disorders, ophthalmic medical devices, and oncology, coupled with a fully integrated pharmaceutical manufacturing facility, we believe that ABVC is well-positioned to generate revenue and expand its commercial footprint. $19 Million in Global Licensing Agreements Securing Future Cash Revenue Since 2023, ABVC has executed three global licensing agreements valued at $959 million, structured with upfront payments, milestone-based revenues, and commercialization royalties. These agreements are expected to contribute an aggregate of approximately $19 million in cash revenue in 2025, in line with ABVC's strategic financial planning. Partner 1 (Global MDD & ADHD Licensing Agreement) – Potential $667 million licensing deal for ABVC's major depressive disorder (MDD) and attention-deficit/hyperactivity disorder (ADHD) drug candidates. The MDD therapeutics market is projected to reach $14 billion by 2027, with antidepressant drug sales growing at a CAGR of 6.2%. [1] The ADHD market is expected to exceed $24 billion by 2032, fueled by increasing diagnoses and demand for innovative treatment solutions. [2] Partner 2 (Global Vitargus(R) Ophthalmic Medical Device Licensing Agreement) – Potential $187 million global licensing deal for Vitargus(R), ABVC's biodegradable vitreous substitute for retinal detachment surgery. The ophthalmic medical device market is projected to grow at a CAGR of 5.1%, reaching $120 billion by 2033. [3] Vitargus(R) would improve post-surgical outcomes, addressing a $3.5 billion market with over 1.8 million retinal detachment surgeries performed annually - an internal survey. Partner 3 (Global Oncology Licensing Agreement) – Potential $105 million worldwide licensing deal covering ABVC's oncology drug candidate, targeting Pancreatic Cancer, NSCLC, TNBC, and MDS conditions. The global oncology drug market is expected to surpass $533 billion by 2028, growing at a CAGR of 12.6%. [4] ABVC's plant-derived oncology treatment offers a potentially safer and more effective alternative to existing therapies. These agreements establish a strong revenue pipeline and underscore ABVC's growing presence in the global pharmaceutical market. $60 Million CDMO Acquisition Enhancing Vertical Integration ABVC acquired a Contract Development and Manufacturing Organization (CDMO) in 2019 for $60 million and uses it to enhance in-house drug development, manufacturing, and commercialization capabilities. The facility provides: Cost Reduction & Efficiency - In-house manufacturing lowers costs and improves operational efficiency. Revenue Diversification - The CDMO offers contract manufacturing services to third-party pharmaceutical companies, generating additional revenue. Scalability – The facility can support commercial-scale production as ABVC's pipeline advances. The CDMO market is projected to reach $191 billion by 2029, growing at a CAGR of 7.0%, positioning ABVC to leverage this growing demand for contract manufacturing services. [5] Market Capitalization vs. Asset Value: Unlocking Growth Potential ABVC's current market capitalization reflects a growing portfolio, which includes multiple global licensing agreements and its CDMO acquisition. The company continues to advance commercialization efforts with the goal to enhance shareholder value. Based on its current agreements, ABVC anticipates approximately $19 million in cash revenue in 2025, subject to execution timelines and market conditions. As the company executes on its commercialization roadmap, ABVC anticipates significant revenue growth, reinforcing its position as a key player in the global biopharmaceutical and medical device markets. With a total addressable market exceeding $500 billion across its three therapeutic areas, [6] we believe that ABVC is strategically positioned for long-term value creation and market expansion. For more information, please visit About ABVC BioPharma & Its Industry ABVC BioPharma is a clinical-stage biopharmaceutical company with an active pipeline of six drugs and one medical device (ABV-1701/Vitargus(R)) under development. For its drug products, the Company utilizes in-licensed technology from its network of world-renowned research institutions to conduct proof-of-concept trials through Phase II of clinical development. The Company's network of research institutions includes Stanford University, University of California at San Francisco, and Cedars-Sinai Medical Center. For Vitargus(R), the Company intends to conduct global clinical trials through Phase III. Forward-Looking Statements This press release contains 'forward-looking statements.' Such statements may be preceded by the words 'intends,' 'may,' 'will,' 'plans,' 'expects,' 'anticipates,' 'projects,' 'predicts,' 'estimates,' 'aims,' 'believes,' 'hopes,' 'potential,' or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified, and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. None of the outcomes expressed herein are guaranteed. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) our inability to manufacture our product candidates on a commercial scale on our own, or in collaboration with third parties; (ii) difficulties in obtaining financing on commercially reasonable terms; (iii) changes in the size and nature of our competition; (iv) loss of one or more key executives or scientists; and (v) difficulties in securing regulatory approval to proceed to the next level of the clinical trials or to market our product candidates. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission (SEC), including the Company's Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors are urged to read these documents free of charge on the SEC's website at The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise. This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company's securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation or sale of any of the Company's securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
