BriaCell Therapeutics (BCTX) risk factors, FY2024 10-K

Risks Related to Our Business

1. 01We have a history of losses, may incur future losses and may not achieve profitability
2. 02There is substantial doubt about our ability to continue as a going concern
3. 03We are a pre-revenue clinical stage company
4. 04We have an unproven market for our product candidates
5. 05We may not succeed in adapting to and meeting the business needs associated with our anticipated growth
6. 06BriaPro may not generate revenue as expected
7. 07We are heavily reliant on third-parties to carry out a large portion of our business
8. 08Pre-clinical studies and initial clinical trials are not necessarily predictive of future results
9. 09We must obtain additional capital to continue our operations
10. 10We are highly dependent on our key personnel
11. 11BriaCell in the future may acquire businesses, products or technologies that it believes complement or expand its existing business
12. 12We may not succeed in completing the development of our products, commercializing our products or generating significant revenues
13. 13We may be adversely affected by the effects of inflation
14. 14A material breach in security relating to the Company’s information systems and regulation related to such breaches, cyber-attacks, or other disruptions could adversely affect the Company, expose us to liability and affect our business and reputation

Risks Related to Our Intellectual Property

1. 15We may not successfully develop, maintain and protect our proprietary products and technologies
2. 16Patent terms may be inadequate to protect our competitive position on our product candidates for an adequate amount of time

Risks Related to Regulations

1. 17Changes in legislation and regulations may affect our revenue and profitability
2. 18The results of our clinical trials may not support our product claims or may result in the discovery of adverse side effects
3. 19The Company’s international operations expose it and its representatives, agents and distributors to risks inherent to operating in foreign jurisdictions that could materially adversely affect its operations and financial position

Risks Related to Our Securities

1. 20In the event that we do not regain compliance prior to the end of the compliance period, we will receive written notification that our securities are subject to delisting, at which point we may appeal the delisting determination
2. 21In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been given 180 calendar days, or until February 18, 2025, to regain compliance with the Minimum Bid Price Requirement
3. 22Future issuance of our common shares could dilute the interests of existing shareholders
4. 23Short sellers may be manipulative and may drive down the market price of our common shares
5. 24Sales of a substantial number of our common shares in the public market by our existing shareholders could cause our share price to fall
6. 25We are an Emerging Growth Company, which may reduce the amount of information available to investors
7. 26In the event a market develops for our common shares or Warrants, the market price of our common shares or Warrants may be volatile
8. 27Certain Canadian legislation contains provisions that may have the effect of delaying or preventing a change in control