Emmaus Life Sciences Files 2023 10-K

TL;DR

Emmaus Life Sciences dropped its 2023 10-K. Check financials.

AI Summary

Emmaus Life Sciences, Inc. filed its 2023 10-K on July 3, 2024, reporting on its fiscal year ending December 31, 2023. The company, previously known as MYnd Analytics, Inc., operates in the Pharmaceutical Preparations sector. The filing details financial performance and business operations, including information on its Torrance, California headquarters.

Why It Matters

This filing provides investors and stakeholders with a comprehensive overview of Emmaus Life Sciences' financial health and strategic direction for the fiscal year 2023.

Risk Assessment

Risk Level: medium — As a pharmaceutical company, Emmaus Life Sciences faces inherent risks related to drug development, regulatory approvals, and market competition.

Key Numbers

• 2834 — SIC Code (Standard Industrial Classification for Pharmaceutical Preparations)
• 001-35527 — SEC File Number (SEC file number for Emmaus Life Sciences, Inc.)

Key Players & Entities

• Emmaus Life Sciences, Inc. (company) — Filer of the 10-K
• MYnd Analytics, Inc. (company) — Former name of Emmaus Life Sciences, Inc.
• 2023-12-31 (date) — Fiscal year end
• 20240703 (date) — Filing date
• 21250 HAWTHORNE BOULEVARD, SUITE 800 (address) — Business and mailing address
• TORRANCE, CA (location) — City and State of business address

FAQ

Key Financial Figures

• $0.001 — itle of class Common stock, par value $0.001 per share Indicate by check mark if t

Filing Documents

• emma-20231231.htm (10-K) — 3689KB
• emma-ex10_20.htm (EX-10.20) — 34KB
• emma-ex10_23.htm (EX-10.23) — 17KB
• emma-ex10_41.htm (EX-10.41) — 28KB
• emma-ex21_1.htm (EX-21.1) — 6KB
• emma-ex23_1.htm (EX-23.1) — 6KB
• emma-ex31_1.htm (EX-31.1) — 13KB
• emma-ex31_2.htm (EX-31.2) — 10KB
• emma-ex32_1.htm (EX-32.1) — 10KB
• img49175599_0.jpg (GRAPHIC) — 102KB
• img49175599_1.jpg (GRAPHIC) — 39KB
• 0000950170-24-080918.txt ( ) — 16649KB
• emma-20231231.xsd (EX-101.SCH) — 2042KB
• emma-20231231_htm.xml (XML) — 3531KB

BUSINESS

BUSINESS 6 ITEM 1A.

RISK FACTORS

RISK FACTORS 21 ITEM 1B. UNRESOLVED STAFF COMMENTS 35 ITEM 1C. CYBERSECURITY 36 ITEM 2.

PROPERTIES

PROPERTIES 36 ITEM 3.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 36 ITEM 4. MINE SAFETY DISCLOSURES 36 PART II ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 37 ITEM 6.

SELECTED FINANCIAL DATA

SELECTED FINANCIAL DATA 37 ITEM 7.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 38 ITEM 7A.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 46 ITEM 8.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 46 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 46 ITEM 9A.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 46 ITEM 9B. OTHER INFORMATION 47 ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS. 47 PART III ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 48 ITEM 11.

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 51 ITEM 12.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 53 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 55 ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES 57 PART IV ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 58

SIGNATURES

SIGNATURES 65 2 CAUTIONARY STATEMENT REGARD ING FORWARDLOOKING STATEMENTS This Annual Report contains some statements that are not purely historical and that are considered "forwardlooking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, which we refer to as the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, which we refer to as the Exchange Act. Such forwardlooking statements express our management's expectations, beliefs, and intentions regarding the future. The words "anticipates," "believes," "continue," "could," "estimates," "expects," "intends," "may," "might," "plans," "possible," "potential," "predicts," "projects," "seeks," "should," "will," "would" and similar expressions and variations, or comparable terminology, or the negatives of any of the foregoing, may identify forwardlooking statements, but the absence of these words does not mean that a statement is not forwardlooking. The forwardlooking statements contained in this Annual Report are based on current expectations and beliefs concerning future developments that are difficult to predict. We cannot guarantee future performance, or that future developments affecting our company will be those currently anticipated. These forwardlooking statements involve risks, uncertainties (some of which are beyond our control) or assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forwardlooking statements, including the factors referenced in this Annual Report under the sections entitled "Business," "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations." All forwardlooking statements attributable to us are expressly qualified in their entirety by these risks and uncertainties, and you should not place undue reliance on any forwardlooking statement. We undertake no obligation to update or revise any forwar

B USINESS

ITEM 1. B USINESS In this Annual Report, the terms, "we," "us," "our" or the "Company" refer to Emmaus Life Sciences, Inc., and its subsidiaries. Overview Endari We are a commercial-stage biopharmaceutical company engaged in the discovery, development, marketing and sale of innovative treatments and therapies, primarily for rare and orphan diseases. Our lead product, Endari (prescription grade L-glutamine oral powder) is approved by the U.S. Food and Drug Administration, or FDA, to reduce the acute complications of sickle cell disease ("SCD") in adult and pediatric patients five years of age and older. Endari has received Orphan Drug designation from the FDA, which designation affords marketing exclusivity for Endari in the U.S. for a seven-year period expiring in July 2024. Endari is marketed and sold in the U.S. by our internal commercial sales team. Endari is reimbursable by the Centers for Medicare and Medicaid Services, and every state provides coverage for Endari for outpatient prescriptions to all eligible Medicaid enrollees within their state Medicaid programs. Endari is also reimbursable by many commercial payors. We have agreements in place with the nation's leading distributors, as well as physician group purchasing organizations and pharmacy benefits managers, making Endari available at selected retail and specialty pharmacies nationwide. SCD is a rare, debilitating and lifelong hereditary blood disorder that affects approximately 100,000 patients in the U.S. and up to 25 million patients worldwide, the majority of which are of African descent. Approximately one in every 365 African-American children are born with SCD. The FDA's approval of Endari was based upon the results of a 48-week randomized, double-blind, placebo-controlled, multi-center Phase 3 clinical trial evaluating the effects of Endari, as compared to placebo in 230 adults and children with SCD. The results demonstrated that Endari reduced the frequency of sickle cell crises by

View Full Filing

View this 10-K filing on SEC EDGAR