Bellicum Pharmaceuticals (BLCM) Financial Report Summaries

Risks

• Our CID technology is novel and largely unproven.
• Cell therapies are novel and present significant challenges.
• Our current product candidates were recently in early stage clinical trials, and, if an acquiror, reinitiates these trials or initiates additional clinical trials, they may experience unfavorable results in the future.
• We have in the past relied on third parties to conduct clinical trials.
• There may be difficulties enrolling patients in future clinical trials of our product candidates, resulting in clinical development delays.
• Any adverse developments that occur during any clinical trials conducted by academic investigators, our collaborators or other entities conducting clinical trials under independent INDs may affect the value of our CID platform.
• Adverse side effects or other safety risks associated with our product candidates have caused us to discontinue our clinical trials and could, if we, or an acquiror, pursues clinical development in the future, cause a suspension or discontinuance of future clinical trials, limit the commercial profile of an approved label, or result in significant negative consequences following marketing approval, if any.
• We are highly dependent on our key personnel, and if we are not successful in retaining highly qualified personnel, we may not be able to successfully implement our business strategy. Workforce and expense reductions may have an adverse impact on our business, our ability to retain key personnel and may be distracting to management.*
• The terms of our 2019 private placement of equity restrict our operating and financial flexibility, and give priority to certain investors, both of which could significantly harm our liquidity, financial condition, operating results, business and prospects and cause the price of our common stock to decline.*
• Our reliance on third parties requires us to share our trade secrets, which increases the possibility that a competitor will discover them or that our trade secrets will be misappropriated or disclosed.
• Our employees, independent contractors, consultants, commercial partners and vendors may engage in misconduct or other improper activities, including noncompliance with regulatory standards and requirements.
• If product liability lawsuits are brought against us, we may incur substantial liabilities.
• Our ability to utilize our net operating loss carryforwards and certain other tax attributes may be limited.
• Uncertainties in the interpretation and application of existing, new and proposed tax laws and regulations could materially affect our tax obligations and effective tax rate.
• The regulatory approval process is lengthy and time-consuming.
• Even if our product candidates receive regulatory approval, they will be subject to ongoing regulatory obligations and continued regulatory review.
• Even if our product candidates obtain regulatory approval, the products may not gain market acceptance among physicians, patients, hospitals, cancer treatment centers, third-party payors and others in the medical community.
• Coverage and reimbursement may be limited or unavailable in certain market segments for our product candidates.
• Due to the novel nature of our technology and the small size of target patient populations, there is significant uncertainty related to pricing and reimbursement for these product candidates.
• We are subject to extensive laws and regulations related to data privacy, and our failure to comply with these laws and regulations could harm our business.
• We are subject to certain U.S. and foreign anti-corruption, anti-money laundering, export control, sanctions, and other trade laws and regulations, or collectively, Trade Laws. We can face serious consequences for violations.
• We are subject to U.S. and certain foreign export and import controls, sanctions, embargoes, anti-corruption laws, and anti-money laundering laws and regulations. Compliance with these legal standards could impair our ability to compete in domestic and international markets. We can face criminal liability and other serious consequences for violations, which can harm our business.
• We depend on intellectual property licensed from third parties and termination of any of these licenses could result in the loss of significant rights.
• We may be involved in lawsuits or other proceedings to protect or enforce our patents or the patents of our licensors, which could be expensive, time-consuming and unsuccessful.
• Obtaining and maintaining our patents depends on compliance with various procedural, document submission, fee payment and other requirements imposed by governmental patent agencies, and our patent position could be reduced or eliminated for non-compliance with these requirements.
• Issued patents covering our product candidates could be found invalid or unenforceable if challenged in court or the USPTO.
• Changes in U.S. patent law could diminish the value of patents in general, thereby impairing our ability to protect our products.
• We have limited foreign intellectual property rights and may not be able to protect our intellectual property rights throughout the world.
• We may be subject to claims that our employees, consultants or independent contractors have wrongfully used or disclosed confidential information of third parties.
• Our common stock trades on the OTCPK Market instead of a national securities exchange, which may make it more difficult for stockholders to sell their shares.*
• The price of our stock is volatile and you could lose all or part of your investment.*
• Certain investors in the 2019 private placement will have the ability to control or significantly influence certain business decisions.
• We do not intend to pay dividends on our common stock, so any returns will be limited to the value of our stock.
• Our principal stockholders own a significant percentage of our stock and can exert significant control over matters subject to stockholder approval.
• Changes in accounting rules, assumptions and/or judgments could materially and adversely affect us.
• Our consolidated financial statements, including our liabilities and statements of operations are subject to quarterly changes in our accounting of our outstanding Series 1 Preferred Stock and related warrants.
• Sales of a substantial number of shares of our common stock by our existing stockholders in the public market could cause our stock price to fall.*
• Anti-takeover provisions under our charter documents and Delaware law could delay or prevent a change of control which could limit the market price of our common stock and may prevent or frustrate attempts by our stockholders to replace or remove our current management.
• Our amended and restated certificate of incorporation and amended and restated bylaws provide that the Court of Chancery of the State of Delaware will be the exclusive forum for substantially all disputes between us and our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers, or employees.