RKTO — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-15

• On April 1, 2026, the Company entered into a securities purchase agreement (the “Purchase Agreement”) with certain institutional investors, pursuant to which the Company agreed to sell to such investors 2,857,144 shares of common stock of the Company at a purchase price of $0.70 per share of common …

• During the three months ended March 31, 2026, the decrease in general and administrative expenses of approximately $388,000 was primarily attributed to (1) a decrease in compensation and related expenses of $256,000, primarily attributable to a decrease in stock-based compensation of approximately $…

• Our unaudited condensed consolidated financial statements have been prepared assuming that we will continue as a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. Our ability to continue as a going concern is dependent on ou…

• On November 8, 2024, we entered into an At The Market Offering Agreement (the “ATM Agreement”) with H.C. Wainwright & Co., LLC (“Wainwright”) under which we could offer and sell shares of our common stock having an aggregate sales price of up to $2,700,000 through Wainwright as the sales manager pur…

• We have entered into certain license, sublicense, sponsored research and option agreements with third parties. Pursuant to such agreements, we may be required to make certain: (i) license maintenance fee payments; (ii) out-of-pocket expense payments, including, but not limited to, payments related t…

Text removed vs the prior filing · source: 10-Q · 2025-11-12

• In June 2025, we entered into a non-binding letter of intent with Silo Pharma, Inc. to pursue a strategic joint venture focused on developing and commercializing a treatment for obesity and metabolic disease utilizing technology licensed to us from the U.S. Department of Veterans Affairs (“VA”). Bot…

• During the three months ended September 30, 2025, the increase in general and administrative expenses of approximately $1.2 million was primarily attributed to an increase in compensation and related expenses of $755,000, primarily attributable to the issuance of 800,000 shares of common stock to ou…

• Comparison of Our Results of Operations for the Nine Months Ended September 30, 2025 and 2024

• For the nine months ended September 30, 2025, research and development expenses were approximately $4.6 million. Specifically, during the nine months ended September 30, 2025, our research and development costs consisted primarily of the following costs for each of our key research and development p…

• For the nine months ended September 30, 2024, research and development expenses were approximately $2.21 million, of which approximately $18,100 was related to licenses acquired and approximately $2.2 million was related to other research and development expenses. Specifically, during the nine month…

Text added vs the prior filing · source: 10-Q · 2026-05-15

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

Text removed vs the prior filing · source: 10-Q · 2025-11-12

• In connection with the audit of our financial statements as of December 31, 2024, for the years ended December 31, 2024 and 2023, we identified a material weakness in our internal control over financial reporting. A material weakness is a deficiency, or a combination of deficiencies, in internal con…

• Our management, with the oversight of the Audit Committee of the board of directors, has updated our internal processes and controls to strengthen their effectiveness and developed a remediation plan which includes the following actions:

• ● Enhance our review procedures over significant contracts with contract research and clinical studies organizations; and

• We will not be able to conclude whether the actions we are taking will fully remediate the material weakness in our internal control over financial reporting until the updated controls have operated for a sufficient period of time and management has concluded, through testing, that such controls are…

• Other than as described above, there have been no changes in our internal control over financial reporting that occurred during our last fiscal quarter ended September 30, 2025 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting…