Item 8.01 Other Events.
Due to the outbreak of the novel strain of the coronavirus ("COVID-19"),
The Company has a small accounting staff all currently working from home. As a result, given that the Company is an accelerated filer with more limited staff in-person interaction, meeting the timeline for filing has become more difficult.
As such, the Company will be relying upon the up to 45-day grace period provided
by Order to delay filing of its Quarterly Report. The Company will file its
Quarterly Report by no later than
The Company is supplementing its risk factors previously disclosed in the
Company's Annual Report on Form 10-K for the year ended
Our business may be adversely affected by the ongoing coronavirus pandemic.
In
These and similar, and perhaps more severe, disruptions may affect patient recruitment and the pace of enrollment in our next bryostatin-1 clinical trial. Some patients and clinical investigators may not be able to comply with clinical trial protocols and patients may choose to withdraw from our studies as quarantines impede patients' movement or interrupt healthcare services. Restrictions on transport of clinical materials, as well as diversion of hospital staff and resources to COVID-19 infected patients, may also delay our next bryostatin-1 clinical trial
The spread of COVID-19, may also materially affect us economically. While the potential economic impact brought by, and the duration of, COVID-19 may be difficult to assess or predict, it has significantly disrupted global financial markets, and may limit our ability to access capital, which could in the future negatively affect our liquidity. A recession or market correction resulting from the spread of COVID-19 could materially affect our business and the value of our common stock.
The ultimate impact of the COVID-19 outbreak or a similar health epidemic is highly uncertain and subject to change. We do not yet know the full extent of potential delays or impacts on our business, our clinical trials, healthcare systems or the global economy as a whole. However, the effects could have a material impact on our business, results of operations and financial condition, and we will continue to monitor the COVID-19 situation closely.
Forward-Looking Statements
This Form 8-K includes forward-looking statements, which may be identified by
words such as "believes," "expects," "anticipates," "estimates," "projects,"
"intends," "should," "seeks," "future," "continue," or the negative of such
terms, or other comparable terminology. Forward-looking statements are
statements that are not historical facts. Such forward-looking statements are
subject to risks and uncertainties, which could cause actual results to differ
materially from the forward-looking statements contained herein. The forward
looking statements in this Form 8-K constitute forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995. There are a
number of important factors that could cause actual results or events to differ
materially from those indicated by such forward-looking statements, including,
but not limited to, the risks and uncertainties and other factors discussed from
time to time in the Company's filings with the
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