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New words:
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Removed:
accounted, acute, affiliate, AKT, arm, Armistice, ATP, Bank, BCL, bilateral, Boyd, center, China, clear, closure, CNS, concentration, crucial, deductible, depicted, desire, digital, distancing, division, economy, emergence, end, enrolling, escalating, evolving, exploratory, expression, FAD, figure, fluorescein, focused, GTP, hallmark, healed, historically, inhibiting, inhibitory, initiating, interruption, intravitreally, JAK, Keith, lab, Lake, MA, Maher, masked, mechanistically, mode, mortgage, NAD, nM, outbreak, pandemic, Paycheck, personal, pharmacokinetic, placebo, positive, postulated, potent, power, predicted, prepaid, prepayment, privately, proactive, proportion, QID, quantify, randomized, read, recommended, regimen, rent, repeatedly, Road, Salt, score, shipping, Silicon, slowdown, social, spread, staining, sterile, Steven, strain, structurally, superiority, surfaced, tangible, title, transport, tyrosine, undergone, UT, Valley, Waltham, Waverley, web, Wien, Wuhan
Financial report summary
?Competition
Bausch Health Companies • Novartis • Ocugen • Takeda Pharmaceutical • Kala Bio • AllerganRisks
- Risks Related to Our Financial Position and Need for Additional Capital
- Risks Related to the Discovery and Development of Our Product Candidates
- Risks Related to the Commercialization of Our Product Candidates
- Risks Related to Our Dependence on Third Parties
- Risks Related to Our Intellectual Property
- Risks Related to Regulatory Approval of Our Product Candidates and Other Legal Compliance Matters
- Risks Related to Employee Matters and Managing Growth
- Risks Related to Our Common Stock
Management Discussion
- General and administrative expenses decreased by $3.6 million due primarily to decreased professional fees of $1.8 million, executive severance of $1.0 million incurred in 2022, miscellaneous costs of $0.2 million and travel related costs of $0.2 million. The decrease in professional fees was driven by reduced external accounting and auditing services.
- Research and development expenses increased by $0.6 million due to increased spending on clinical trial related activities for KIO-301 of $0.6 million, increased personnel costs related to compensation and other benefits of $0.5 million, increased scientific advisory board related costs of $0.2 million and facilities and IT costs of $0.2 million,, partially offset by reduced preclinical development and CMC costs for KIO-101 of $0.8 million and KIO-201 of $34 thousand and an increase in the research refundable credit of $0.2 million.
- In-Process R&D impairment increased by $1.9 million due to an impairment loss recognized in August 2023 when we made a strategic decision to revise our commercialization strategy for the KIO-101 and KIO-201 assets and seek partnership for all future development. Accordingly, the estimated fair value of the KIO-201 assets was determined to be less than their carrying value based on a quantitative analysis.