Going forward, we may implement further cost-saving initiatives that could result in additional restructuring charges including severance and other employee charges.

filing / May 15, 2025 / receipt

If sufficient funds on acceptable terms are not available when needed, we will be required to significantly reduce our operating expenses and delay, reduce the scope of, or eliminate one or more of our development programs.

filing / May 15, 2025 / receipt

The decrease of $7.3 million for the three months ended March 31, 2025 compared to the three months ended March 31, 2024 was affected by the implementation of our restructuring plan, including the pause of our eseba-vec and HB-300 programs, and was attributable to a decrease in indirect research and development expenses of $5.0 million and a decrease in direct research and development expenses of $2.3 million.

filing / May 15, 2025 / receipt

Restructuring expenses for the three months ended March 31, 2025 resulted from the cost-savings and restructuring actions from the adoption of the restructuring plan announced in September and November 2024, and consisted of less than $0.1 million of severance and other personnel costs and $0.1 million of professional fees and consulting costs associated with exit and disposal activities.

filing / May 15, 2025 / receipt

● Our strategic refocus and the associated workforce reduction announced in January 2024 and additional workforce reductions implemented in September 2024 and November 2024 may not result in anticipated cost savings, which could result in total costs and expenses that are greater than expected, potentially disrupting our business.

filing / Feb 28, 2025 / receipt

In the past, we have contracted numerous funding agreements with an agency of the Austrian government to partially finance our research and development programs, such as personnel costs, material costs, third-party services, travel expenses and research and development infrastructure use.

filing / Feb 28, 2025 / receipt

Malte Peters was appointed as our Chief Executive Officer and Terry Coelho was appointed as our Executive Vice President and Chief Financial Officer.

filing / Feb 28, 2025 / receipt

Restructuring Plan On November 18, 2024, we approved a plan to continue to improve our cost structure and operating efficiency, which includes a reduction in our workforce by approximately 80% of our then-current employee base (the “Restructuring Plan”).

filing / Feb 28, 2025 / receipt

On November 18, 2024, we approved a plan to continue to improve our cost structure and operating efficiency, which includes a reduction in our workforce by approximately 80% of our then-current employee base (the “Restructuring Plan”).

filing / Feb 28, 2025 / receipt

The implementation of cost containment measures or other healthcare reforms may prevent us from being able to generate revenue, attain profitability or commercialize our products.

filing / Feb 28, 2025 / receipt