AVXL — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-28

• Total operating expenses for the three months ended June 30, 2026 were $(6.7) million, compared to $14.5 million for the comparable three months ended June 30, 2025. The primary reason for the decrease in operating expenses is due to the reversal of $15.5 million in stock-based compensation expense …

• General and administrative expenses were $(2.0) million for the three months ended June 30, 2026 as compared to $4.5 million for the three months ended June 30, 2025. The decrease was primarily related to the reversal of $7.5 million in stock-based compensation expense during the period. Of the tota…

• Our research and development expenses for the three months ended June 30, 2026 were $(4.7) million, as compared to $10.0 million for the three months ended June 30, 2025. The decrease was primarily related to the reversal of $9.9 million in stock-based compensation expense during the period. Of the …

• The following table summarizes our research and development expenses for the three months ended June 30, 2026 and 2025 (in thousands):

• During the three months ended June 30, 2026 and 2025, external service provider costs by indication and product candidate were as follows (in thousands):

Text removed vs the prior filing · source: 10-Q · 2026-08-28

• Comparison of the three months ended March 31, 2026 and 2025

• Total operating expenses for the three months ended March 31, 2026 were $6.5 million, compared to $12.5 million for the comparable three months ended March 31, 2025. The primary reason for the decrease in operating expenses is due to the decrease in research and development expenses, which is more f…

• General and administrative expenses were $2.3 million for the three months ended March 31, 2026 as compared to $2.6 million for the same quarter of fiscal 2025. The decrease was primarily related to a decrease in legal and professional fees of approximately $0.4 million.

• Our research and development expenses for the three months ended March 31, 2026 were $4.2 million as compared to $9.9 million for the three months ended March 31, 2025.

• The following table summarizes our research and development expenses for the three months ended March 31, 2026 and 2025 (in thousands):

Text added vs the prior filing · source: 10-Q · 2026-08-28

• As previously disclosed in a Current Report on Form 8-K, filed with the SEC on May 6, 2026, on April 30, 2026, the Special Committee terminated the employment of our former CEO for Cause (as defined in the Employment Agreement, dated as of June 27, 2013, between us and our former CEO, as amended and…

• During the quarter ended June 30, 2026, building on the leadership change initiated by the Special Committee, we began implementing certain of the remediations and enhancements described in the 2025 Form 10-K/A filed with the SEC on August 28, 2026 to our disclosure and information-communication pro…

• ·We established a formal Disclosure Committee with defined responsibilities for reviewing significant information relevant to our SEC disclosures; and

• ·We implemented additional procedures to reconcile significant regulatory, clinical and non-financial source documents to matters contained in our SEC disclosures;

• Except for the measures described above, there were no changes in our internal control over financial reporting during the quarter ended June 30, 2026 that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting. We regularly evaluate our con…

Text removed vs the prior filing · source: 10-Q · 2026-08-28

• There were no changes in our internal control over financial reporting during the quarter ended March 31, 2026 that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

• The material weakness described in the 2025 Form 10-K/A was identified subsequent to the end of the quarter, and therefore no remediation activities had been designed or implemented as of March 31, 2026. Following the identification of the material weakness, management began developing a remediation…