You should carefully consider the following risk factors before you decide to buy our common stock. If any of
these risks actually occurs, our business prospects, financial condition, operating results or cash flows could be
materially adversely affected. This could cause the trading price of our common stock to decline, and you may
lose part or all of your investment.
Risks Related to Our Business
We depend heavily on the success of our lead product candidate, MT 100, which is still in clinical trials and may
never be approved for commercial use. If we are unable to develop, gain approval of or commercialize MT 100,
we may never be profitable.
Since our founding, we have invested a significant portion of our time and financial resources in the development
of MT 100 and anticipate that for the foreseeable future our ability to achieve profitability will be dependent on its
successful development, approval and commercialization. Many factors could negatively affect the success of our
efforts to develop and commercialize MT 100, including:
. negative, inconclusive or otherwise unfavorable results from our toxicology, genotoxicity or carcinogenicity
studies or from our clinical trials;
. an inability to obtain, or delay in obtaining, regulatory approval for the commercialization of MT 100;
. an inability to establish collaborative arrangements with third parties for the manufacture and commercialization
of MT 100, or any disruption of any of these arrangements, if established;
. a failure to achieve market acceptance of MT 100;
. significant delays in our ongoing clinical trials and toxicology, genotoxicity and carcinogenicity studies; and
. significant increases in the costs of our clinical trials and toxicology, genotoxicity and carcinogenicity studies.
We have incurred losses since inception and anticipate that we will incur continued losses for the foreseeable
future. We do not have a current source of product revenue and may never be profitable.