CRIS — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-14

• We expect to continue to generate operating losses in the foreseeable future. In August 2026, we completed a public offering, or the August 2026 Public Offering, for estimated net proceeds of approximately $4.8 million, after deducting placement agent fees and estimated offering expenses. Based upon…

• continue our operations, and would have a negative impact on our financial condition and ability to pursue our business strategies. In addition, we may seek to engage in one or more strategic alternatives, such as a strategic partnership with one or more parties, the licensing, sale or divestiture o…

• several years if and as we conduct larger clinical trials of emavusertib; prepare regulatory filings for emavusertib; continue to develop additional drug candidates; and potentially advance our drug candidates into later stages of clinical development.

• The successful development and commercialization of emavusertib is highly uncertain. At this time, we cannot reasonably estimate or know the nature, timing and costs of the efforts that will be necessary to complete the preclinical and clinical development of emavusertib. This uncertainty is due to …

• Research and development expenses decreased by $2.8 million, or 18%, in the six months ended June 30, 2026 as compared to the same period in 2025. The decrease was primarily attributable to lower employee related, clinical, manufacturing, and research costs.

Text removed vs the prior filing · source: 10-Q · 2026-05-13

• We expect to continue to generate operating losses in the foreseeable future. Our current cash and cash equivalents are not expected to fund our operations beyond 12 months from the date of filing this Quarterly Report on Form 10-Q. We will require substantial additional funds in the immediate term …

• required to evaluate alternatives, which could include dissolving and liquidating our assets or seeking protection under the bankruptcy laws, and a determination to file for bankruptcy could occur at a time that is earlier than when we would otherwise exhaust our cash resources. If we decide to diss…

• The successful development and commercialization of emavusertib is highly uncertain. At this time, we cannot reasonably estimate or know the nature, timing and costs of the efforts that will be necessary to complete the preclinical and clinical

• development of emavusertib. This uncertainty is due to the numerous risks and uncertainties associated with product development and commercialization, including the uncertainty of:

• We have financed our operations primarily through private and public placements of our equity securities, license fees, contingent cash payments and research and development funding from our corporate collaborators, and the monetization of certain royalty rights. See “Funding Requirements” below and…

Text added vs the prior filing · source: 10-Q · 2026-08-14

• We have identified conditions and events that raise substantial doubt about our ability to continue as a going concern.

• We will require substantial funds to maintain our research and development program and support operations in the near term. We have incurred losses and negative cash flows from operations since our inception. As of June 30, 2026, we had $5.1 million in cash and cash equivalents. In August 2026, we c…

• We will require substantial additional funding to fund the development of emavusertib through regulatory approval and commercialization, and to support our continued operations. We will need to seek additional funding through a number of potential avenues, including private or public equity financin…

• If we are unable to continue as a going concern, we may have to liquidate our assets and may receive less than the value at which those assets are carried, and it is likely that investors will lose all or a part of their investment. If we seek additional

• financing to fund our business activities in the future and there remains substantial doubt about our ability to continue as a going concern, investors or other financing sources may be unwilling to provide funding to us on commercially reasonable terms, if at all.

Text removed vs the prior filing · source: 10-Q · 2026-05-13

• We are not in compliance with the requirements for continued listing on the Nasdaq Capital Market. Our common stock is subject to delisting, which would decrease the liquidity of our common stock and our ability to raise additional capital.

• We are required to meet specified requirements to maintain our listing on the Nasdaq Capital Market, including a minimum bid price of $1.00 per share for our common stock and standards relative to minimum stockholders’ equity, minimum market value of publicly held shares and various additional requi…

• In the past we have, from time to time, received deficiency letters from Nasdaq as a consequence of our failure to satisfy such requirements. On February 3, 2026, we received written notice from Nasdaq indicating that we regained compliance with Nasdaq Listing Rule 5550(b)(2), or MVLS Rule, and was …

• On April 27, 2026, we received a Delist Determination Letter from the Staff notifying us that the bid price for our common stock had closed for the last 30 consecutive business days below the minimum $1.00 per share requirement for continued inclusion on the Nasdaq Capital Market pursuant to Nasdaq …

• However, there can be no assurance that any Hearings Panel will grant us additional time to regain compliance with the Bid Price Rule or if we will be able to suspend or delay our delisting from Nasdaq. If we are delisted from Nasdaq, we may transfer to and commence trading on the OTC Markets or ano…

Text added vs the prior filing · source: 10-Q · 2026-08-14

• On August 14, 2026, the Company consummated a public offering under a securities purchase agreement, dated August 12, 2026 (the “Purchase Agreement”), with certain institutional investors (the “Purchasers”), pursuant to which the Company agreed to sell and issue: (i) 335,001 shares (the “Shares”) of…

• Pre-Funded Warrant and the associated Common Warrant was $1.49. The aggregate gross proceeds to the Company from the Offering were approximately $5.5 million, before deducting fees payable to the placement agents and other estimated offering expenses payable by the Company, and excluding the proceed…

• The Company engaged Alliance Global Partners as lead placement agent and Laidlaw & Company (UK) Ltd. as co-placement agent in the August 2026 Public Offering. Pursuant to a Placement Agency Agreement entered into by and among the Company and the placement agents (the “Placement Agency Agreement”), t…

• The Purchase Agreement contains customary representations, warranties, covenants and agreements by the Company, indemnification obligations and other obligations of the parties. The representations, warranties and covenants contained in the Purchase Agreement were made only for purposes of such agre…

• The foregoing descriptions of the Purchase Agreement and the Placement Agency Agreement do not purport to be complete and are qualified in their entirety by reference to the full text of such Purchase Agreement and Placement Agency Agreement, copies of which are filed herewith as Exhibit 10.4 and Ex…

Text removed vs the prior filing · source: 10-Q · 2026-05-13

• During the first quarter of 2026, none of our directors or “officers” (as defined in Rule 16a-1(f) under the Exchange Act) adopted or terminated any contract, instruction or written plan for the purchase or sale of our securities intended to satisfy the affirmative defense conditions of Rule 10b5-1(…